Budget Variance
Definition: The difference (measured in percentage terms) between the actual net operating expenses and the budget.
Performance (December 2024):
The budget variance for the month of December was unfavorable at 45.58% over the forecast, mostly due to unfavorable variances in labor and liability costs. The 2025 Fiscal Year-to-Date (months of July through December) budget variance was unfavorable at 19.05% over the forecast, mostly due to unfavorable variances in labor and liability costs.