Budget Variance
Definition: The difference (measured in percentage terms) between the actual net operating expenses and the budget.
Performance (February 2025):
The budget variance for the month of February was unfavorable at 13.96% over the forecast, mostly due to unfavorable variances in labor, contractual services and supply costs. The 2025 Fiscal Year-to-Date (months of July through February) budget variance was unfavorable at 13.06% over the forecast, mostly due to an unfavorable variance in liability cost.