Through the end of May, the City expended $4.018 billion and encumbered an additional $202.3 million. As a result, total obligations amounted to $4.220 billion or 85.6% of the $4.930 billion FY2021 target budget. This is lower than the annualized monthly spend of 91.7%, and $222.5 million or 5.0 percent less than they were last May.

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