Expenditures and Revenues vs. Budget

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Finance

Actual Expenditures vs. Budget

Goal: 0.0% variance
Goal Status: MEETING GOAL

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 2015-16 EXPENDITURES ARE 3.5% BELOW BUDGETED EXPENDITURES

How San Francisco is Performing

In the most recent 9-month report for the current fiscal year (FY) 2015-16, projected total actual expenditures are expected to be $131.9 million (3.5 percent) less than budgeted expenditures. After factoring in a total of $24 million in departmental revenue shortfalls, the net expenditure surplus is $106.4 million for the current fiscal year. This indicates that the City is on track to meets its goal in responsibly managing expenditures. The lower than expected expenditures are largely driven by savings in the Human Services Agency (HSA) and the Department of Public Health (DPH). HSA is projecting $20.3 million in expenditure savings, attributable to savings in several programs, including in-home support services ($5.2 million), foster care assistance payments ($3.5 million), CalWORKS ($2.2 million), as well as $12.2 million in other savings. DPH is projecting $85.7 million in expenditure savings, offset by $30.3 million in revenue shortfalls, for a net surplus of $55.4 million. Much of this surplus is attributable to changes in nursing facility payment rates at that state level, resulting in a $31.8 million net surplus at Laguna Honda Hospital.

Actual Revenues vs. Budget

Goal: 0.0% variance
Goal Status: MEETING GOAL

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 2015-16 REVENUES ARE 3.1% ABOVE BUDGETED REVENUES

How San Francisco is Performing

In the most recent 9-month report for FY 2015-16, projected actual revenues for the fiscal year are expected to be approximately $106 million (3.1 percent) greater than budgeted revenues. Higher than expected property and business tax revenue are the primary drivers of this increase. Property tax revenue is projected to be $83 million above the budgeted amount, a result of increases in expected supplemental and escape property tax assessments. Business tax revenue is expected to be $20 million above the budgeted amount, primarily due to stronger than anticipated private payroll growth.

Additional Information

Data

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