City Spending Slightly Ahead of PICA’s Projections

Through October, the City has expended $1.492 billion and encumbered an additional $493.1 million, resulting in total obligations of $1.985 billion. This total is approximately $179.3 million, or 9.9 percent more than in FY2022. It also represents 34.0 percent of the total FY2023 approved budget, slightly higher than PICA’s projection of 33.3 percent. The twelve departments with the largest budgets account for over $1.711 billion, or 86.2% of total fiscal year to date obligations. To date, these twelve departments have spent $144.8 million, or 9.2 percent more than they did at the same time last year.

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