Obligations Slightly Lower than City’s Spending Projections

Through the end of February, the City expended $2.564 billion and encumbered an additional $284.5 million. As a result, total obligations amounted to $2.849 billion or 58.4% of the $4.880 billion FY2021 target budget. This is lower than the annualized monthly spend of 66.7%, and $60.7 million or 2.1 percent less than they were last February. Twelve departments with the highest budgets account for over $2.514 billion, representing 88.2% of the total year-to-date obligations. Through February, these 12 departments have obligated $46.7 million more than at the same time last year, while the remaining City Departments have obligated $107.4 million less than last year.

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