City’s FY2021 Fund Balance projected to be $51.7 Million

City spending is projected to outpace revenues

May 24, 2021 — The Quarterly City Managers Report (“QCMR”) for the third quarter (period ending March 31, 2021), estimates FY2021 revenues at $4.599 billion and obligations at $4.930 billion, according to PICA’s Staff Report. These estimates are higher than the projections in the City’s FY2021-FY2025 Five Year Plan (the “Plan”) by $16.8 million (revenues) and $124.9 million (obligations). Thus, City spending is projected to outpace revenues in FY2021 by $331 million.

For the full report, click here.

For the accompanying press release, click here.

For past reports, click here.