First Quarter Spending Slightly Ahead of PICA’s Projections

Through September, the City has expended $1.102 billion and encumbered an additional $481.2 million, resulting in total obligations of $1.583 billion. This total is approximately $216.9 million, or 15.9 percent more than in FY2022. It also represents 27.1 percent of the total FY2023 approved budget, slightly higher than PICA’s projection of 25 percent. The twelve departments with the largest budgets account for over $1.368 billion, or 86.4% of total fiscal year to date obligations. These twelve departments have spent $192.7 million, or 16.4 percent more than they did at the same time last year.

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