Summary
The First Quarter FY20 QCMR provides an assessment of the City’s financial performance as of September 30, 2019, showing higher-than-anticipated tax revenue, particularly from Wage Tax, Business Income and Receipts Tax (BIRT), and Locally Generated Non-Tax Revenue. However, obligations have risen sharply, driven by higher wages, pension contributions, and increased purchases of services. The year-end fund balance is projected at $307.2 million, reflecting a $97.3 million improvement over the Five-Year Plan projection. The report also highlights public safety and infrastructure trends, including a decrease in homicides (down 8.7%) and structure fires (down 30.1%) compared to the prior year. However, autopsy reports issued within 90 days declined from 96.0% to 85.6%, indicating delays in medical examiner services. The City continues to face challenges in managing overtime spending, particularly in the Police, Fire, and Streets Departments, which contributed to first quarter overtime costs of $53.1 million, an 11.6% increase from the prior year.