Thursday, October 01, 2020

Ward 5 Report: "CFO provides revenue forecast"

From: Councilmember Kenyan R. McDuffie <

Sent: Thursday, October 1, 2020 6:25 PM
Subject: October 1st Ward 5 Report - CFO Provides Revenue Forecast


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On Wednesday, the District’s CFO Jeffrey DeWitt provided the Mayor and Council with an updated financial forecast.  Despite ending the fiscal year with more revenue than previously estimated, the District is still down -$334.4 million compared to FY2019 and substantial revenue shortfalls are forecasted, roughly -$200 million a year for the next four years.

Wednesday's updated revenue projections indicate that we are and will remain in a recession. The path to recovery will be much longer than originally anticipated and its impacts to workers and small businesses devastating. With unemployment insurance claims in the District still rising it is critical that we prioritize replenishing our depleting UI fund. It is projected that upwards of 30% of restaurants are not likely to ever re-open which means lost jobs and opportunities. 

These are challenging times and require focused efforts to ensure the District remain a place where we can all thrive. As we look to maintain the District’s financial strength we must balance increasing revenues to care for our most vulnerable and austerity measures to make our budget and operations effective and efficient.

In service,





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Winter Ready Grant Opportunity 



DC Child Care Provider Relief Fund

As part of the District’s coronavirus (COVID-19) recovery efforts, the DC Child Care Provider Relief Fund will provide $5 million in emergency operational funding to local child care facilities. Relief funds will be granted to all licensed District child care providers ensure a supply of child care for families during the public health emergency and recovery period.

More information on how to apply can be found here.



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