ICGFM Promotes Knowledge Transfer Among Public Financial Management Experts

Working globally with governments, organizations, and individuals, the International Consortium on Governmental Financial Management is dedicated to improving financial management by providing opportunities for professional development and information exchange.

Monday, September 26, 2016

ICGFM DC Forum Luncheon, October 5, 2016 - How a Deficit-Plagued District of Columbia was Transformed

How a Deficit-Plagued District of Columbia was Transformed into a Financially Healthy Municipality
DC Forum Luncheon
October 5, 2016, 12:00 - 1:30 p.m.

Our Speaker:

Natwar Gandhi

Former Chief Financial Officer, District of Columbia

A first-hand account of:
·         How the District was transformed from a deficit-plagued, junk bond rated jurisdiction with $550 million negative fund balance into a financially healthy municipality with a string of balanced budgets and a fund balance of $1.5 billion at the end of 2013, and 

·               How the District secured multiple rating upgrades (a total of 13 rating steps since FY2000) from the major rating agencies for its general obligation bonds, which are currently rated A+ by Standard and Poor’s, AA- by Fitch Ratings and Aa2 by Moody’s Investors Service.

Our Speaker:  Natwar M. Gandhi, PhD, retired as the Chief Financial Officer (CFO) for the District of Columbia at the end of 2013 after serving in that position since 2000.  After presenting evidence of the District's renewed fiscal strength to the financial community, Gandhi was able to secure bond rating upgrades for the city from the three major rating agencies, including a return to an 'A -' rating from Standard and Poor's and Fitch Ratings - the first 'A' level rating for the District since 1995.  Gandhi holds a doctorate in accounting from Louisiana State University, a master's degree in business administration from Atlanta University, and an LLB and BCom in accounting from the University of Bombay.

Location:  Carnegie Endowment for International Peace
1779 Massachusetts Ave., NW
Washington, DC 20036

Time:  12:00-1:30pm

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