Summary
The Second Quarter FY18 QCMR, covering the period ending December 31, 2017, highlights continued revenue growth, with General Fund revenues projected at $4.48 billion, $75.2 million above the original Five-Year Plan estimate. The increase is attributed to higher-than-anticipated wage tax and business income tax collections, although certain revenue sources, such as fines and forfeitures, remain below expectations. Expenditures have also increased, particularly in employee benefits, legal settlements, and departmental overtime costs, leading to a revised obligation projection of $4.46 billion. Despite this, the year-end fund balance is projected at $210.5 million, remaining well above initial projections. The report highlights staffing increases in key departments, such as the Police and Fire Departments, to address operational demands. However, overtime costs continue to outpace budgeted levels, requiring additional fiscal oversight​.