What the monitor reports

The Department of Finance publishes monthly information on revenues, program expenses, public debt charges, the budgetary balance, financing activities and the federal balance sheet. Tables usually compare the current year-to-date period with the same months a year earlier.

A January result covers April through January. It is not a twelve-month fiscal-year result, and it should not be described as “the annual deficit.”

Seasonality matters

Tax receipts, benefit payments, transfers and departmental spending are not evenly distributed through the year. Multiplying a nine-month deficit by twelve-ninths is not a reliable forecast.

Large accounting entries may also be recorded late in the year. The March monitor is more complete than earlier editions but remains subject to year-end finalization and audit.

What to record when citing it

  • Publication month and release date.
  • The exact year-to-date period.
  • Whether the number is a budgetary balance, financial requirement or change in accumulated deficit.
  • Whether a comparison is against the same period last year or against a budget forecast.
  • A link to the source table, not only a headline.

Primary sources

Use the official publications below for the latest figures and accounting details.

Editorial note: This page explains public accounting concepts and is not a recommendation for or against any political party, tax, program or borrowing decision.