Summary
The Third Quarter FY21 QCMR, covering the period ending March 31, 2021, shows improved revenue projections but continued expenditure growth, particularly in employee wages and purchased services. The City’s projected year-end fund balance of $51.7 million aligns with the Five-Year Plan, but the report warns that this remains precariously low, representing less than a week of spending. Homicides increased by 44.8% year-over-year, while shooting victims rose by 65.7%, raising concerns about public safety expenditures. While overtime spending decreased slightly due to pandemic-related reductions in public events and staffing limitations, the report notes continued financial risks from unfunded pension liabilities and wage tax refund requests from remote workers. Additionally, sanitation and public health services continued to struggle with increased demand and staffing shortages, impacting service delivery. The report emphasizes the need for continued expenditure control, particularly in labor-related costs, to prevent future deficits.