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City budget office briefs committee on annual encumbrance carryover process and timing
Summary
Jessica Stratton of the budget office explained the annual encumbrance carryover process that moves unspent but obligated FY2024 funds into FY2025, said the five‑year average carryover is about $141 million across all funds and that the package of SBO adjustments will be amended with final data ahead of the council vote.
Jessica Stratton, presenting for the budget office, told the Finance & Administration Committee that the annual encumbrance carryover moves expenditure authority for goods or services encumbered but unspent in the prior fiscal year into the current fiscal year.
Stratton said the process began with close of accounts payable period 13 on Jan. 17 and produced a large data set of roughly 2,000 rows the accountants scrubbed before submitting recommendations to the budget office. As of the morning of the meeting, she…
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