Through the end of January, the City expended $2.283 billion and encumbered an additional $317.8 million. As a result, total obligations amounted to $2.596 billion or 53.2% of the $4.880 billion FY2021 target budget. This is lower than the annualized monthly spend of 58.3%, and $14.5 million or 0.6 percent less than they were last January.

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