Budget Variance
Definition: The difference (measured in percentage terms) between the actual net operating expenses and the budget.
Performance (September 2024):
The budget variance for the month of September was unfavorable at 21.48% over the forecast, mostly due to unfavorable variance in labor and liability costs. The 2025 Fiscal Year-to-Date (months of July through September) budget variance was unfavorable at 13.9% over the forecast, mostly due to an unfavorable variance in liability cost.