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 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 2016-17 EXPENDITURES ARE 2.1% BELOW BUDGETED EXPENDITURES

How San Francisco is Performing

In the most recent 6-month report for FY 2016-17, projected total actual expenditures are expected to be $81.7 million (2.1 percent) less than budgeted expenditures. Expenditure savings in General City Responsibility, Homelessness and Supporting Housing, and the Department of Public Works are offset by a shortfall in sales tax, and reflect expenditures supported by sales tax revenue anticipated in Proposition K that will remain on reserve following the failure of the measure.

Actual Revenues vs. Budget

Fiscal Year 2016-17
Target: 0.0% variance
Target 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 2016-17 REVENUES ARE 1.5% ABOVE BUDGETED REVENUES

How San Francisco is Performing

In the most recent 6-month report for FY 2016-17, citywide revenues improved by $91.8 million compared to budgeted revenues. This change is primarily due to higher than budgeted property and property transfer tax revenues, offset by shortfalls in hotel, parking, and sales tax. Of the $41.4 million projected shortfall in sales tax revenue, $37.5 million reflects the loss of sales tax revenue anticipated in the budget that will not be realized given the failure of Proposition K on the November 2016 ballot.

Additional Information

Data

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