Budget Variance

Definition: The difference between the actual operating costs and the budgeted costs. This is a standard measurement for any organization.

Analysis (November 2011 and Fiscal year-to-date):

The budget variance for the month of November was favorable at -10.14% under budget, mostly due to favorable expense in labor, fuel and contractual services costs. The budget variance for the Fiscal Year 2012 (the months of July through November) remains favorable at -4.15% under budget, mostly due to favorable variances in labor and contractual services costs.