Obligations Slightly Lower than PICA’s Spending Projections

Through January, the City has expended $2,712.0 billion and encumbered an additional $403.2 million, resulting in total obligations of $3.115 billion. This total is approximately $324.0 million, or 11.6 percent more than in FY2022. It also represents 53.3 percent of the total FY2023 approved budget, slightly lower than PICA’s projection of 58.3 percent.

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