Summary
The Third Quarter FY17 QCMR highlights steady revenue growth, with General Fund revenues now projected at $4.17 billion, $37.5 million above the Five-Year Plan estimate. This increase is largely due to higher tax revenue and improved collections in locally generated non-tax revenue. However, obligations have also risen to $4.23 billion, $46.6 million above the original estimate, due to rising pension costs, public safety expenditures, and employee benefits. The operating deficit is projected at $64.5 million, a slight improvement over Q2 but still exceeding the initial Five-Year Plan projections. The year-end fund balance is now projected at $107.6 million, indicating continued fiscal strength despite growing costs. The report underscores the need for ongoing budget oversight to mitigate risks from expenditure growth​.