$190 mil­lion added to rev­enue out­look

The Washington Post Sunday - - THE REGION - — Mike DeBonis

The District now ex­pects to col­lect $190 mil­lion more in rev­enue this fis­cal year than pre­vi­ously an­tic­i­pated, Chief Fi­nan­cial Of­fi­cer Nat­war M. Gandhi said Fri­day.

The 3.2 per­cent in­crease pushes the fis­cal 2013 es­ti­mate for lo­cally sourced gen­eral fund rev­enue to $6.06 bil­lion, which still rep­re­sents a drop from last year’s $6.39 bil­lion. Pro­jected rev­enue for fis­cal 2014 also in­creased, by $177.8 mil­lion, to $6.13 bil­lion.

Fis­cal 2012’s $417 mil­lion sur­plus sug­gested that the District con­tin­ues to thrive de­spite ques­tions about the na­tion’s econ­omy. But Gandhi said he be­lieves the trend is un­likely to con­tinue. “A large part of the rea­son for slower growth,” he said, “is the com­bi­na­tion of fed­eral aus­ter­ity and slower em­ploy­ment growth.”

Newspapers in English

Newspapers from USA

© PressReader. All rights reserved.