[WardFive] CM McDuffie on Today's Updated District Budget Forecast

Friday, 24 April 2020

[WardFive] CM McDuffie on Today's Updated District Budget Forecast

From: <kmcduffie@dccouncil.us>
Reply-To: <kmcduffie@DCCOUNCIL.US>
Date: Friday, April 24, 2020 at 5:12 PM
To: <ntreadway@DCCOUNCIL.US>
Subject: April 24 Coronavirus Response - Updated District Budget Forecast

Below are today's updates on the District's response to the coronavirus pandemic. For the latest and most comprehensive information always visit http://coronavirus.dc.gov.

DC's Chief Financial Officer Provides Budget Forecast Update
Small Business Spotlight: Roaming Rooster

DC's Chief Financial Officer Provides Budget Forecast Update

Today, District of Columbia Chief Financial Officer Jeffrey DeWitt provided an updated financial forecast for the District to the Mayor and Council. You can view the full presentation here and read Councilmember McDuffie's statement below.

"District of Columbia Chief Financial Officer Jeffrey DeWitt just provided the Mayor and Council with an updated financial forecast and now projects a budget shortfall of $722 million in the current fiscal year, and additional downward revisions of $774 million, $606 million, and $568 million over the next three years. Based on all the numbers, the CFO today indicated that we are now in a recession.

While that is certainly not welcome news, we all know that this pandemic has had a devastating impact on our economy. We are not alone among cities in the United States facing these challenges, but we are well-positioned compared to some of our counterparts. We entered this crisis with a full rainy day fund, a well-funded unemployment insurance fund, and our employee pension obligations fully funded.

I believe the city should be able to navigate this crisis in both the long and short term with responsible policies and spending. However, there will be difficult decisions in the years and budgets ahead. The impact on District small businesses and workers is profound, but I remain steadfast and optimistic that the future of our city is bright."

Small Business Spotlight: Roaming Rooster

Roaming Rooster on Bladensburg Road NE continues to serve delicious chicken to the public for carry out and delivery in the midst of the public health emergency. They have also stepped up and provided meals to health care workers at Providence Urgent Care, Howard University Hospital, and United Medical Center. The restaurant interior is closed for social distancing but you can simply place your order online and make a contact-less pickup. Order ahead via their website, GrubHub, Postmates, or Uber Eats.