Obligations Slightly Lower than PICA’s Spending Projections

Through December, the City has expended $2,300.5 billion and encumbered an additional $431.6 million, resulting in total obligations of $2.732 billion. This total is approximately $282.6 million, or 11.5 percent more than in FY2022. It also represents 46.8 percent of the total FY2023 approved budget, slightly lower than PICA’s projection of 50 percent.

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