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DC CFO Releases Revised Quarterly Revenue Estimates

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April 24, 2020

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The OCFO released a revised revenue forecast, which certifies the revenue estimate for the FY 2021 – 2024 District of Columbia Budget and Financial Plan.  Fiscal year 2020 revenues are revised downward by $722 million from the February 2020 estimate, reflecting the unprecedented shutdown of the District and national economies to combat the COVID-19 virus.  Reduction from the February estimate is primarily due to decreased sales taxes as hotels, restaurants, and most on-premise retail activity has either ceased or significantly diminished.

April 24, 2020 Report

April 24, 2020 Revised Revenue Estimate Presentation