Expenditures and Revenues vs. Budget

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Finance

Actual Expenditures vs. Budget

Fiscal Year 2016-17
Target: 0.0% variance
Target Status: MEETING TARGET

Measuring General Fund expenditures versus the adopted budget is a means of determining how well the City is managing spending versus its adopted spending plan. The goal is to spend in line with, and not in excess of, budgeted amounts. This variance from budgeted amounts is projected quarterly through budget status reports prepared by the Controller’s Office. Actual results are known and published at the end of the fiscal year in the City’s Comprehensive Annual Financial Report (CAFR).

PROJECTED FY 2016-17 EXPENDITURES ARE 4.3% BELOW BUDGETED EXPENDITURES

How San Francisco is Performing

In the most recent 9-month report for FY 2016-17, projected total actual expenditures are expected to be $158.1 million (4.3 percent) less than budgeted expenditures. Departmental savings are predominantly driven by net savings in the Department of Public Health (DPH) and the Human Services Agency (HSA), though the Human Services Agency also expects a shortfall in revenue by year end. The most significant variance from the FY 2016-17 Six-Month Report is a $63.6 million increase in projected ending balance at DPH. This improvement is driven by revenue surpluses projected at Zuckerberg San Francisco General Hospital (ZSFGH).

Actual Revenues vs. Budget

Fiscal Year 2016-17
Target: 2.0% variance
Target Status: NEEDS IMPROVEMENT

Measuring General Fund revenues versus the projections adopted in the annual budget is a means of determining how well the City’s tax revenue base is performing versus expectations. The goal is to collect revenues in accordance with, and not below, budgeted amounts. This variance from budgeted amounts is projected quarterly through budget status reports prepared by the Controller’s Office. Actual results are known and published at the end of the fiscal year in the City’s Comprehensive Annual Financial Report (CAFR).

PROJECTED FY 2016-17 REVENUES ARE 3.9% ABOVE BUDGETED REVENUES

How San Francisco is Performing

In the most recent 9-month report for FY 2016-17, citywide revenues improved by $141.6 million (3.9%) compared to budgeted revenues. This change is primarily due to higher than budgeted property tax and property transfer tax revenues, as well as department savings, that offset shortfalls in hotel, parking, and sales tax. The shortfall in Sales Tax compared to FY 2016-17 budget is primarily due to the failure of the November 2016 sales tax ballot initiative (Proposition K), as well as a reduction in the underlying growth assumption from 3.5% to 1.1% given recent performance.

Additional Information

Data

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