Summary
The Third Quarter FY14 QCMR, covering the period ending March 31, 2014, provides an updated financial assessment, showing General Fund revenues at $3.84 billion, $107.0 million above the Five-Year Plan estimate. Obligations are now projected at $3.99 billion, reflecting higher-than-expected spending on pensions, public safety, and healthcare. Despite the rise in expenditures, the year-end fund balance is projected at $119.8 million, $41.3 million higher than the original Plan estimate, due to stronger tax collections and improved budget management. The operating deficit has decreased to $156.5 million, marking a modest improvement. The report warns that long-term fiscal stability requires continued revenue growth and careful expenditure control. It recommends closely monitoring budget trends to ensure financial resilience.