I am pleased to present the initial Long-Range Capital Financial Plan Report for the District of Columbia ("the District") that has been prepared by the Office of the Chief Financial Offcier (OCFO). As part of the Fiscal Year 2015 Budget Support Act, the Council of the District of Columbia included a requirement for the OCFO to develop and report on a replacement schedule for capital assets in October of each year. As a consequence, the OCFO developed a long-range capital financial plan for the district that includes capital asset replacement needs beyond the normal six-year capital planning period. This report defines and quantifies the challenges the District faces in funding its capital infrastructure needs, and presents various funding scenarios that would allow the District to address these challenges over time.
This report is intended to assist the Mayor, Council, agency directors, other policymakers and the public in understanding the size of the District's capital infrastructure needs, and how these needs might be addressed over time using new long-range financial planning tools developed for capital planning.
For more information, view the Long-Range Capital Financial Report.
Jeffrey S. DeWitt
Chief Financial Officer
Governemnt of the District of Columbia