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Issuer Type: County/City/Town
Income Tax Secured Revenue Bonds
Tax Increment Revenue Bonds
Federal Highway Grant Anticipation Revenue Bonds (GARVEEs)
Ballpark Revenue Bonds
Deed Tax Revenue Bonds
On behalf of the District of Columbia, I would like to welcome you to our investor relations website. We appreciate your interest and investment in bonds issued by the District, as it allows us to make critical investments in public infrastructure throughout the District. We are committed to maintaining our strong bond ratings, and we are also committed to being as transparent as possible with the investor community and public at large.
I hope you find this website useful as you seek to better understand the credit fundamentals of the District of Columbia. Please do not hesitate to contact our office with suggestions for how we can be doing better. Thanks again for your interest in our bond program.
Jeffrey S. DeWitt, Chief Financial Officer
The U.S. Bureau of the Census estimates DC’s population on July 1, 2019 was 705,749, an increase of 4,202 (0.6%) from the revised estimate for 2018. 2019 was the 14th straight year of population growth. From 2005 to 2019 the city grew by 138,613, a remarkable gain of 24.4%. Also notable is that growth slowed in 2019, primarily due to decreases in net migration.
The District has a long-range capital financial plan to fund all capital asset needs and eliminate all deferred maintenance in less than ten years.
Questions have been raised about the District’s recently submitted FY2020 budget and financial plan and concerns have been voiced that the budget is not responsible and could result in the return of the Control Board.
As the independent Chief Financial Officer (CFO) of the District, I am required by federal law to certify that the budgets submitted by the Mayor to the Council, and ultimately to Congress, are balanced. In my March 20, 2019 letter, included in the proposed budget, I state, “that the FY2020 - FY2023 budget and financial plan is balanced.” I stand firmly by that statement.