’09 budget deficit soars to $130M

Published May 7, 2008 4:00am ET



D.C.’s anticipated budget deficit for fiscal 2009 has soared to more than $130 million, Chief Financial Officer Natwar Gandhi will tell city leaders today, placing further strain on already-tense budget deliberations.

In his latest revenue forecast, Gandhi is projecting $13 million more revenue for fiscal 2008, which ends Sept. 30, and $35 million less for fiscal 2009. All told, Gandhi expects a $93 million surplus for this year and a $130.8 million deficit for next year.

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