Capital Variance Report for the Five Months Ended May 31, 2020

was $1.032 billion or 22.3 percent of the 2020 capital budget of $4.635 billion for the period ended May 31, 2020 and is projecting to expend $3.844 billion or 82.9 percent by December 31, 2020 Table 1 - Capital Variance Summary 2020 Approved Budget* Actual Expenditures - January to May Projected Expenditures - January to December $M $M Percent $M Percent City Operations 1,926 375 19.5 percent 1,571 81.5 percent Agencies 1,348 384 28.5 percent 1,139 84.5 percent Subtotal - Tax Supported 3,274 759 23.2 percent 2,710 82.8 percent Rate Supported 1,361 274 20.1 percent 1,134 83.3 percent TOTAL 4,635 1,032 22.3 percent 3,844 82.9 percent *Note: Includes 2019 carry forward funding and 2020 in-year adjustments The Capital spending pattern for the first quarter typically ranges between 5.4 percent and 13.1 percent of the total Council Approved Capital Budget compared to 22.3 percent spend as of five months. Total City projected spend of 82.9percent by year-end is comprised of a Tax Supported Programs spending rate of 82.8 percent and a Rate Supported Programs spending rate of 83.3 percent. Projected underspending by year-end totals $791 million or 17.1 percent of the 2020 Capital Budget. Approximately half of the projected year-end variance reflects underspending attributed to COVID-19 impacts. The projected year-end spending rates presented in this report are based on the submissions from each Program and Agency, and as such, the preparation of this report has been based on this information.