87°Mostly Cloudy

DC’s CFO Dr. Natwar M. Gandhi Stepping Down after Serving Since 2000

by Prince Of Petworth — February 1, 2013 at 11:45 am 14 Comments


Photo via DC.gov

From a press release:

Mayor Vincent C. Gray today thanked Chief Financial Officer Dr. Natwar M. Gandhi for his service in ensuring that the District’s finances experienced a dramatic turnaround over the last dozen years. Earlier today, Dr. Gandhi informed the Mayor that he would be stepping down after serving in the CFO position since 2000. Mayor Gray re-appointed him to a third five-year term last June.

“I want to express my profound gratitude to Dr. Gandhi for being an exemplary steward of the District’s finances for over a decade, and I am sorry to see him go,” Mayor Gray said. “In the time that he has served as our Chief Financial Officer, he has helped take us from the days of the Control Board to our just-announced $417 million Fiscal Year 2012 surplus.”

Mayor Gray continued: “I especially want to thank Dr. Gandhi for being a strong partner in helping me restore our crucial Fund Balance to $1.5 billion. Without his leadership, the District would not have experienced the extraordinary fiscal turnaround that we have seen in the last dozen years. Our city owes him a great debt of gratitude.”

Under Dr. Gandhi’s stewardship, the District has obtained a “clean” audit opinion from independent auditors in the District’s Comprehensive Annual Financial Report (CAFR) every year since Fiscal Year 2000, which ended the city’s Control Period and facilitated the return of Home Rule. Under his leadership, the District has secured several rating upgrades for its general-obligation bonds from the major rating agencies, including an “A+” from Standard and Poor’s, a “AA-“ from Fitch Ratings and an “Aa2” rating from Moody’s Investors Service. The District’s Income Tax Secured bond ratings are “AAA” from S&P, “AA” from Fitch and “Aa1” from Moody’s.

  • Eeenteresting. Wasn’t there some criticism of Natwar Gandhi recently — maybe by the Council?

    I can’t remember the details, but my vague recollection makes me think this might’ve been a case of “pressured to resign” rather than “stepped down entirely of his own free will.”

    • Anonymous

      David Catania was calling for his resignation, but that dude throws more tantrums than a 2-year-old.

  • So who’s replacing him? Hopefully somebody as good.

  • Natwar Gandhi has weathered controversies as D.C. chief financial officer
    By Nikita Stewart,December 29, 2012
    http://articles.washingtonpost.com/2012-12-29/local/36071331_1_tax-office-chief-financial-officer-embezzlement-case

  • PeachyKeen

    No celebration until we see who is coming in.

  • Anonymous

    I’m going on a hunger strike if he doesn’t get his job back!

    • Anonymous

      “Get his job back”? From who? I don’t think you understand what “resigned” means.

      • Anon2

        It’s a play on his last name….

        • Anonymous

          Lame.

      • SW1

        I don’t think you understand what “resigned” means. Often people “resign” when they are left no choice ( i.e., resign and give some bland reason such as “needing to spend more time with the family”, or be fired).

  • Anonymous

    Let the scandal begin. Also, I hear Mayor Gray wants to appoint Harry Thomas, Jr. to the post citing his mad skills with money.

  • Understand why he’s leaving after being in the job for so long and recent controversies, but Gandhi will be missed for his strong stewardship of DC’s financials. He, along with Mayor Williams, was a key member of the team that helped turn DC around.

    • Anonymous

      And the largest embezzling scandal happened under his watch, along with a history of not-so-recent mismanagement problems.

  • J. P. Nicholson

    He will be missed. Thanks for your hard work and dedication you have given to the District of Columbia government over the years. It is truly a great city to live in. Wishing you the best.

×

Subscribe to our mailing list