Loose Lips

District Budget Gap: Not So Bad Afterall

The District's projected budget gap for fiscal 2012 now stands at $322 million, thanks to higher-than-projected revenues.

Chief Financial Officer Natwar Gandhi says the "lion's share" of the $105.4 million increase in projected revenues over the September 2010 projection is thanks to the District's robust commercial real estate market. Real property taxes are projected to grow 16 percent in fiscal 2012. Gandhi reminded folks at a press briefing today that the reason why the downtown real estate is so desirable is because everyone wants to be near Uncle Sam.

Gandhi did note that he's a little concerned that revenues associated with parking fines aren't as high as they should be. Interestingly enough, around the same time Gandhi was saying that TBD reported that Ward 8 Councilmember Marion Barry's Jaguar was booted this morning because the councilmember owes $705 worth of unpaid parking tickets.

Comments

  1. #1

    Gandhi seems to miss the mark on things until it is staring him in the face. He should be able to crunch numbers a lot better than he has been doing lately. He has been around for awhile now. If he can't seem to make more measurable predictions than the ones he has been making lately,then he should go.

  2. #2

    @somebody - I hate the fact that in our city there is always somebody bitching about something. Whether its the sensationalist media or the all-too-common grumpy and vocal citizen.

    This is great fu king news! We should be happy and smiling! Things aren't as bad as we thought and can only get better. Need jobs are coming everyday. So smile and be joyful!

    New rule - no more bitching at good news, looking for the gap to cry about! We u see good news ENJOY IT!!!

  3. #3

    I'd rather Gandhi make the conservative projections that he's been making and we end up with more money than less. Too many other jurisdictions use pie in the sky projections and end up being over budget than under budget.

  4. #4

    Ghandi has been wrong on every budget since he assumed the office in 2000...and I mean EVERY single one.

    His closest budget was only within 10% of his anticipated, and that was 6 months after he passed the budget.

    That, and after the 50 million dollar embezzling scheme in his office that happened directly under his nose, this guy must have some juicy blackmail on the Council to allow him to keep his job.

  5. #5

    Thank you RGFleet, you know exactly what I am speaking about when it comes to Gandhi. The citizens still don't know how many of the tax payers dollars grew legs and walked away from the protector of the coffers. He has been very wrong on his budget predictions, so much so that each time he sends everyone scrambling to find money while painting a bleek picture of the city's finances.

    @Js and dcvoterboy, I am very happy about Mr. Gandhi's latest discovery, but this is the norm for him as though he forgets about all available resources and their worth. Let us not forget the CFO for DCPS that didn't even report the so-called budget pressure to him to include in one of his other budget predictions. This was one of his own workers. And, he only got fired after the recommendation came down from the Council. Don't you feel we desire better? He may have over stayed his time with the city. Time to move on and give someone else a shot at looking after our money.

    Already 52 people who opt to install solar panels are without a reimbursement from the city because of Gandhi's initial predictions. Maybe the city will reconsider now and reimburse them for their energy effort.

  6. #6

    Screw that.
    I'd rather have a doom and gloom prediction be wrong than a rose petals prediction turn out to smell like shiite.
    I'm no Ghandi fan, but he's one of the least toxic folks in the mess that is our budget.

  7. #7

    LMAO at Barry getting booted.

  8. #8

    The games that some people play. LOL

  9. #9

    I thought DC Councilmembers were exempt from getting parking tickets? They can park near a fire hydrant and not get ticketed.

  10. #10

    BARRY YOU ARE A DISGRACE! SERVES YOU RIGHT... GIVE SOME OF THAT STOLE TAXPAYER MONEY BACK TO THE DISTRICT!

  11. #11

    BARRY YOU ARE A DISGRACE! SERVES YOU RIGHT... GIVE SOME OF THAT STOLE TAXPAYER MONEY BACK TO THE DISTRICT!

    GANDHI NEEDS TO GO.....HE IS NOT SO GREAT AT RUNNING THIS GOVT. OFFICE!

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