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Office of the Chief Financial Officer

@ocfo-dc.bsky.social

The official account of the Office of the Chief Financial Officer for the Government of the District of Columbia. Visit https://cfo.dc.gov/ for the District's budget, annual financial report, and various economic and financial reports.

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Office of the Chief Financial Officer @ocfo-dc.bsky.social · 3w ago

DC Budget Documents Now Available - The budget books have been published for DC's Fiscal Year 2027 Approved Budget and Financial Plan. View and download the files, including individual agency budget chapters, at cfo.dc.gov/node/289642

CAB Budget

For more information on the documents presented here, contact the Office of Budget and Planning at (202) 727-6234. FY 2027 Approved Budget Documents Fiscal Year 2027 Approved Operating Budget Chapter...

cfo.dc.gov

DC Office of Revenue Analysis @oradcgov.bsky.social · 4w ago

Good afternoon, DC! Take some time this weekend to catch up on the latest DC Economic and Revenue Trends Review for July 2026. Read it here: ora-cfo.dc.gov/publication/...

Image reports the highlights from the DC Economic and Revenue Trends report published by the District of Columbia Office of Revenue Analysis for July 2026. The image highlights that DC jobs declined 5.1% over the last year; federal government accounted for 24.6% of all wages in DC; at mid-year 2025, DC’s population was estimated to be 2,335 or 0.3% higher than the prior year; the office vacancy rate has increased to 18.7%; single-family home sales were up 5.1% from a year earlier, while the average home price was 3.3% lower; condo sales were down 8.4% from last year and the average price was 2.7% lower; and, there were 2.6% fewer hotel-room-days sold than a year ago. The report highlights changes in employment, wages, office vacancy rate, single-family home sales, condo sales, and hotel-room-days. Users can read more by clicking the link in the post.

DC Office of Revenue Analysis @oradcgov.bsky.social · 2mo ago

Our latest blog examines wraparound services and industry clusters with growth potential for DC residents such as technology, construction, and business support functions industries. Read more: ora-cfo.dc.gov/blog/wraparo...

This data table outlines Washington D.C.’s top ten prioritized economic clusters, ranked by a weighted index score out of 100 that balances feasibility (“Right to win”) and impact (“Want to win”). Federal Government Services holds the highest priority with an index score of 77.8, driven by a massive local talent pool of over 213,000 jobs and a high Location Quotient of 9.0, despite seeing a slight negative local growth rate of -0.5% and a 41% BIPOC workforce. Consulting Services follows in second with a score of 53.9, boasting strong local growth at 5.0% and high average annual wages of $139,000. Technology ranks third at 44.8, showing robust local growth at 4.3% and an even 50% BIPOC representation. Education and Research scores 42.2 with a sizable talent pool of nearly 66,000 jobs, while Communications and Design scores 40.8, commanding the highest annual wages on the chart at $141,000 but holding the lowest diversity rate at 31% BIPOC. The remaining five sectors show lower overall index scores but highlight specific regional trends. State Government Services scores 36.8 and leads the entire list in diversity with an 87% BIPOC workforce, alongside steady 2.3% local growth. Real Estate and Construction sits at 35.5 with moderate local growth but low feasibility indicators, followed by Distribution and Electronic Commerce at 32.9, which suffers from a very low Location Quotient and a small local talent pool. Business Support Functions ranks ninth with a score of 31.8, offering high wages of $116,000 and 59% BIPOC representation. Finally, Hospitality, Tourism, and Entertainment rounds out the list at 21.9; despite a highly diverse workforce at 65% BIPOC, the sector is constrained by negative projected U.S. growth and the lowest annual wages on the chart at $57,000. The underlying data is sourced from EMSI and Harvard Business School’s U.S. Cluster Mapping Project for the Government of the District of Columbia.

DC Office of Revenue Analysis @oradcgov.bsky.social · 2mo ago

Good morning, DC! Take a break with us and catch up on the latest DC Economic and Revenue Trends Review for June 2026. Read it here: ora-cfo.dc.gov/publication/...

Office of the Chief Financial Officer @ocfo-dc.bsky.social · 2mo ago

On June 30, the Office of the Chief Financial Officer released its latest quarterly revenue estimate for the District of Columbia. The June 2026 revenue estimate remains unchanged from the February 2026 estimate. Read the June revenue estimate letter and presentation at cfo.dc.gov/node/1837571

06.30.26 June 2026 Revenue Estimates for FY 2026-2030

June 2026 Revenue Estimate Letter June 2026 Revenue Estimate Presentaion

cfo.dc.gov

DC Office of Revenue Analysis @oradcgov.bsky.social · 3mo ago

Good afternoon, DC! Take a break with us today, and catch up on the latest DC Economic and Revenue Trends Review for May 2026. Read it here: ora-cfo.dc.gov/publication/...

DC Office of Revenue Analysis @oradcgov.bsky.social · 4mo ago

Good morning, DC! We are back with the latest DC Economic and Revenue Trends Review for April 2026. Read it here: ora-cfo.dc.gov/publication/...

Office of the Chief Financial Officer @ocfo-dc.bsky.social · 5mo ago

On May 4, Chief Financial Officer Glen Lee testified before the DC Council on his office's fiscal year 2027 budget request. Read his testimony - including a presentation with a breakdown of the request - on the CFO website: cfo.dc.gov/sites/defaul...

DC Office of Revenue Analysis @oradcgov.bsky.social · 5mo ago

Good morning, DC! We are back with the latest DC Economic and Revenue Trends Review for March 2026. Read it here: ora-cfo.dc.gov/publication/...

DC Office of Revenue Analysis @oradcgov.bsky.social · 5mo ago

The District's real retail activity has grown steadily by an average of 2.2 percent annually since 2019, despite job and resident losses during the pandemic. Read more in our latest: ora-cfo.dc.gov/blog/dc-rest...

This image shows annual General rate (retail) sales tax collections from 2019 to 2025. Each year’s total (represented by the bars) is divided into the inflationary portion, indexed to 2019, and the real, inflation adjusted portion. The 2025 amount was 38.9 percent higher than the FY 2019 level in nominal terms. After adjusting for inflation, we find that 17.8 percent of the retail tax collections in 2025 were due to inflation.

Office of the Chief Financial Officer @ocfo-dc.bsky.social · 5mo ago

Moody's Removes Negative Outlook on District's Debt Rating Moody’s justified its change, as noted in their April 20 press release, on the “District’s very strong fiscal governance and prudent budget management.” Read more at cfo.dc.gov/release/mood...

Moody's Removes Negative Outlook on District's Debt Rating, Citing Strong Fiscal Governance and Reserves

This week Moody’s Ratings announced a revision in its outlook for the District of Columbia from negative to stable, while reaffirming its Aa1 rating on the District’s general obligation debt. Moody’s ...

cfo.dc.gov

DC Office of Revenue Analysis @oradcgov.bsky.social · 5mo ago

Good morning, DC! We are back with the latest DC Economic and Revenue Trends Review for February 2026. Read it here: ora-cfo.dc.gov/publication/...

DC Office of Revenue Analysis @oradcgov.bsky.social · 5mo ago

Rising prices, not increased sales, was the sole driver of restaurant sales tax revenue between 2019-2025 in DC. Read more: ora-cfo.dc.gov/blog/dc-rest...

The image shows a bar chart that reports the nominal restaurant sales tax revenue grew by 27.1 percent from 2019 to 2025. But during the same period, average restaurant prices across the District increased by 33.2 percent. After accounting for price increases, we find that restaurant sales volume declined 15 percent. The observed growth in restaurant sales tax revenue over this period was driven solely by rising prices, not by increased sales.

DC Office of Revenue Analysis @oradcgov.bsky.social · 6mo ago

Nearly 47% of separations in DC from federal employment in 2025 reported having a Master’s degree or higher. These losses accounted for nearly $2.4 billion, or 53%, of the total federal annual pay lost in 2025 from separations. Read more in our latest: ora-cfo.dc.gov/blog/deep-di...

The image shows a bar chart for those with a Master’s degree or higher that separated from federal employment in the District of Columbia in 2025. The highest bar, Master’s degree, reported 8,266 individuals separating from federal employee in the District and the second highest, First Professional, 3,350. The total of these separations accounted for 47 percent of the total federal separations in the District in 2025, and 53 percent of total lost wages, or $2.4 billion.

Office of the Chief Financial Officer @ocfo-dc.bsky.social · 6mo ago

Check out the Office of Tax and Revenue's podcast series - Tax Talk DC - providing District residents with information on local tax topics. To listen to episodes, visit dcradio.gov or search for "Tax Talk DC" on your preferred streaming platform.

DC Office of Revenue Analysis @oradcgov.bsky.social · 6mo ago

Our latest blog analyzes newly released Office of Personnel Management data for 2025 on federal separations and the impact it had on the District. We found that the net loss to the District is about 22,356 jobs and $3.656 billion in annualized pay. Read more: ora-cfo.dc.gov/blog/deep-di...

The image shows a bar chart reporting the federal separations by month for the year of 2025, for federal employees that report to the District of Columbia. The largest month of separations is highlighted in this bar chart as September 2025 with 10,890 federal employees reporting as separated from federal government employment.

DC Office of Revenue Analysis @oradcgov.bsky.social · 6mo ago

Millennials represent the largest share of income tax filers in Washington, D.C., with most officially relocating to the city after 2017. Read more here: ora-cfo.dc.gov/node/1818301

The image shows a bar chart with three charts for the Rate of In-migration of Current Millennial Tax Filers in the District of Columbia between 2018 to 2022. The first bar is for years of in-migrations 2008-2012 which represents 8.7 percent of the total millennial tax filers share. The second bar shows that the 37.7 percent of millennial tax filers in-migrated to the District between 2013 and 2017. Finally, the last bar shows the remaining 53.6 percent in-migrated to the District between 2018 and 2022.

Office of the Chief Financial Officer @ocfo-dc.bsky.social · 7mo ago

The Office of the Chief Financial Officer has released its latest quarterly revenue estimate for the District government. Read the February 2026 revenue estimate letter and presentation from CFO Glen Lee to the Mayor and Council Chairman - cfo.dc.gov/node/1819901

Table comparing the February 2026 revenue estimate to the September 2025 estimate

Office of the Chief Financial Officer @ocfo-dc.bsky.social · 7mo ago

On Feb. 24, CFO Glen Lee testified before the DC Council Committee of the Whole on his office's FY 2025 and FY 2026 performance. Read his testimony - cfo.dc.gov/sites/defaul...