Summary
The First Quarter FY22 QCMR, covering the period ending September 30, 2021, highlights continued revenue challenges following the COVID-19 pandemic, with General Fund revenue projected at $5.08 billion, a shortfall of $177.4 million compared to the Five-Year Plan. The City’s projected fund balance at year-end is $133.9 million, $47.3 million above the initial estimate, though this remains below the City’s recommended reserve levels. Obligations have risen to $5.35 billion, reflecting higher labor costs following recent contract agreements and the restoration of pandemic-related budget cuts. Public safety indicators showed mixed results, with homicides decreasing slightly compared to Q1 FY21, while the homicide clearance rate fell below 40%. Sanitation services improved slightly, but recycling collection remained below pre-pandemic levels, indicating ongoing operational challenges. The report underscores the importance of monitoring labor costs and revenue trends as the City continues its recovery from the pandemic.