D.C. Mayor Vincent Gray said Monday that he still has confidence in the city's chief financial officer.

"I've worked with Nat Gandhi for a long time, and he's done a really terrific job," Gray told The Washington Examiner. "I'm looking forward to continuing to work with him."

Gandhi, whom Gray reappointed for a new five-year term earlier this summer, has come under fire in recent weeks after the Washington Post reported his office lowered commercial property values by $2.6 billion through settlements. The Post said that the changes, now the subject of a federal investigation, cost the District $48 million in revenue.

But Gandhi has defended his record and said his office reached the agreements to avoid the time and expense of litigation.

Lawmakers, though, have scheduled an oversight hearing for Wednesday and are expected to question Gandhi and other top officials about the settlements, the office's efforts to investigate the backgrounds of job applicants and its internal auditing procedures.

"We'll get to the bottom of it," said Gray, who has already called for Gandhi to enhance his pre-employment screenings for people who work in the sprawling CFO's office.