Issue 2 No. 7 March 30, 2012
Mayor Balances FY 2013 Budget with No New Taxes
On March 23, Mayor Gray released his Fiscal Year 2013 Proposed Budget and Financial Plan to the public. The $9.4 billion budget places a premium on fiscal responsibility by closing an anticipated $172.1 million gap between revenues and expenses without raising new taxes or adding new fees, and without dipping into the District’s crucial reserve fund. The plan closes the budget gap with $102.7 million in cuts to expenditures (60 percent of gap) and $69.4 million in revenue initiatives (40 percent of gap).
In an effort to engage District residents and stakeholders on what his budget proposal means for them, Mayor Gray will embark on a series of town hall and neighborhood budget briefings. All residents are invited to the first budget town hall on Monday, April 2nd in Ward 8, Savoy Elementary/Thurgood Marshall Gymnasium from 6:30-8:30 pm. Budget town halls are scheduled for each of the District’s eight wards: Read more.