Is DC Really Using Several of Its Reserves as Rainy Day Funds?
DC’s budget for Fiscal Year 2021 shows that three of the District’s four reserves are fully funded. But the evidence is clear—the District is using only a small fraction of its reserves to address the harm of the pandemic.
Budget Principles for a Strong and Equitable Pandemic Recovery
As we move to vaccinate residents and hopefully emerge from the pandemic, our leaders must address the possibility of thousands of residents facing eviction, small businesses that may not recover, and students who have fallen behind. Yet DC’s finances and […]
District Financial Audit Shows Stratified Economy, but in a Strong Financial Position to Address Budget Deficit
The District is building up large budget surpluses and reserves while tens of thousands of residents and many small businesses are suffering, according to an annual audit of DC’s finances released last week.
DC’s Revenue Picture is Improving but Substantial Financial Challenges Remain
The District’s economy and tax collections are doing somewhat better than projections in September, but very substantial financial challenges remain, especially this year and next, according to the CFO’s December 30th revenue forecast.