WaPo's Mike DeBonis reports today that Chief Financial Officer Natwar M. Gandhi notified Mayor Vincent Gray and D.C. Council members this morning that several city agencies are projected to go over budget this year by tens of millions of dollars.
One of the biggest costs putting the city in the red: the Department of Youth Rehabilitation Services' continued [...]
Millions and Millions: A month ago, Mayor Vince Gray’s team released their new, terrifying estimate of the budget gap facing the District in fiscal 2012: $600 million. But today, chief financial officer Natwar Gandhi declared the actual shortfall will be $312 million. The difference, apparently, is due to higher than expected tax revenue from commercial properties; [...]
As much local politics as humanly possible. Send your tips, releases, stories, events, etc. to lips@washingtoncitypaper.com. And get LL Daily sent straight to your inbox every morning!
IN CASE YOU MISSED IT:
Elites win the dawn
Pizza delay
The real reason LeBron went to Miami
Good morning sweet readers! Has anyone else seen the trailer for the new movie about Facebook "founder" [...]
As much local politics as humanly possible. Send your tips, releases, stories, events, etc. to lips@washingtoncitypaper.com. And get LL Daily sent straight to your inbox every morning!
Hello, sweet readers, and welcome to the first Loose Lips Daily of the Alan Suderman era. LL is eager to drag you along with him through the wonderful world [...]
In hockey, this week was the worst
The Caps seem to really be cursed
Game 7: they choked
Got totally smoked
An outcome in which they're well-versed
Farewell to the late Dorothy Height
(Whose hats could both awe and delight)
The eulogy, tender
Showed speech-giving splendor
From start to the final sound bite
The teachers continue to wonder
If talks are just doomed to go under
Since [...]
For once, city workers can smirk
Today, they alone don't have work
With boozing extended
Life's even more splendid!
There's one word for them and it's: jerk.
Once freed from their desk or a meeting
Perhaps D.C. lackeys are tweeting
Now saved for posterity
All your hilarity
Twitter. No longer so fleeting…
The Summit is now in the past
Commutes are no longer harassed
One lesson to [...]
Yet another 180-degree twist in the teacher contract saga.
Two days after Chancellor Michelle Rhee told D.C. Council members that she would pay for a groundbreaking teacher contract, in part, with $34 million in surplus funds, Chief Financial Officer Natwar M. Gandhi today posted a letter to Rhee telling her there is in fact no such [...]
UPDATED 6:05 P.M.
A week after a new D.C. Public Schools teacher contract proposal was rolled out with great fanfare, fiscal revelations aired today leave its ultimate implementation very much in doubt.
Chancellor Michelle Rhee and Washington Teachers' Union head George Parker appeared at a D.C. Council administrative meeting earlier today to brief councilmembers on the agreement. [...]
Allow LL to follow up on the new city revenue projections for a second. In his letter to the mayor and D.C. Council, Chief Financial Officer Natwar M. Gandhi informed them that a $.50 per-pack cigarette tax hike implemented last October has not gone as planned.
Because the increase, to $2.50, catapulted the District's rate over [...]
Chief Financial Officer Natwar M. Gandhi's latest city revenue estimates are in, and guess what: bad news.
For the current fiscal year, which started last Oct. 1, Gandhi is now estimating $17.7 million less in revenue. So what was a projected $223 million budget gap is now $240 million. And for the upcoming fiscal year, the [...]
After three long, hot years, the increasingly intractable conflict between Mayor Adrian M. Fenty and the D.C. Council is heading to court.
There's a twist: Neither of the parties is suing.
Chief Financial Officer Natwar M. Gandhi, independent of both, has announced he's going to D.C. Superior Court to settle an ongoing dispute over review of city [...]
"If you put me back in there today, I could get each of you a check."
—tax scammer Harriette Walters, June 30
In what's become a quarterly tradition around these parts, Chief Financial Officer Natwar M. Gandhi announced this afternoon that projected city revenues over the next few years are again being revised downward.
The bottom line: The mayor and council have to find at least $190 million to balance this year's budget, which runs until Sept. 30. [...]
Yesterday, the Washington Post printed some very obvious news to anyone who's been on South Cap. Street in the past year: Nationals Park hasn't sparked much revitalizing in Southwest. The city spent $1 billion in infrastructure upgrades and developers have made huge holes in the ground and left a lot of buildings still vacant.
As the [...]
Not a lot of folks are getting good news from Wall Street these days, but the District got a little something nice today.
The Office of the Chief Financial Officer is announcing this evening that Standard & Poor's, one of three outfits that rate municipal debt, has given the District a "AAA" rating on a recent [...]
