Presentation to DC4D: FY 2019 Budget and Financial Plan Office of the Budget Director Council of the District of Columbia Jennifer Budoff, Budget Director 4/11/2018
FY19 Pr Proposed Bu Budg dget an and d Fin inan ancial Pl Plan: $14. $1 4.5 G 5 Gross R Reven enues (ex excludes es i intra-district t transfers) Federal Payments, 0.1B, 1% Enterprise Special Funds, 1.9B, Income Tax, Purpose, 13% 2.7B, 18% 0.7B, 5% Sales Tax, 1.3B, 9% Local, 7.9B 55% Federal Grants Property Tax, and Medicaid, Gross 2.7B, 19% 3.4B, 23% Receipts, 0.2B, 1% Other , Non-Tax, 0.4B, 3% 0.4B, 3% Fund Lottery, Balance, 0.1B, 1% Dedicated Taxes, 0.1B, 1% 0.5, 3%
FY19 Pr Proposed Bu Budg dget an and d Fin inan ancial Pl Plan: Gross Capi Capital an and d Ope perating Bu Budg dget (ex excludes es i intra-district t transfers a and e enterprise) $3,500 $3,000 FY19 Proposed Budget (in millions) $2,500 $2,000 $1,500 $1,000 $500 $0 Operting Budget Capital Budget
Eco cono nomic c and nd P Poli licy cy I Impa pact ct Statements Council Rule 308 Since 2016 Council has granted the Budget Office the authority to issue economic and policy impact statements on legislation and proposals. The Office has produced two such reports. Purpose The reports offer Councilmembers a data- and evidence-based resource for weighing the policy implications and economic costs and benefits of new initiatives. They do not make policy recommendations, and their findings and conclusions are non-binding. They are not a substitute for the Office of the Chief Financial Officer’s fiscal impact statement (FIS). Toolkit The reports include an examination of DC’s status quo; an analysis of the academic research and empirical evidence on the subject; a benchmark proposal against the policies of other states and localities; and a forecast of the magnitude and directionality of its impact on the local economy over a 10- year period. Forecast developed using REMI PI+ v2.0.3, a 70-industry-sector economic model that is tailored to the unique conditions of the Washington, DC MSA
Eco cono nomic c and nd P Poli licy cy I Impa pact ct Statements Paid Family & Medical Leave • The Budget Office released its first report in December 2016 on the “Universal Paid Leave Amendment Act of 2016.” • Among the report’s findings is that such programs generally boost women’s labor force participation rate, reduce infant and child mortality, and have little impact on most businesses’ profitability. • Projects that it will have between a $15 million positive to a $122 million negative impact on DC’s GDP over 10 years. • Private sector employment will decline by 90 to 1,200 jobs. • Report available for download: http://dccouncil.us/news/entry/economic-and-policy-impact- statement-universal-paid-leave
Eco cono nomic c and nd P Poli licy cy I Impa pact ct Statements Guaranteed Minimum Income • The Budget Office released its second report in February 2018. • Estimates that it costs a family of three living in the District $96,885 per year to pay for their basic needs. The District has a robust social safety net that can cover the needs of some, but not all, low-income residents. • Providing a minimum income that would allow all households to meet their basic needs would cost $7 to $9.3 billion annually. The impact of doubling taxes would reduce DC’s overall employment and could force the District government to forgo about $2.66 billion in federal payments and grants each year. • A more moderate cash payment or negative income tax to provide an income floor at 100% of the FPL may provide additional resources to DC residents without materially reducing employment or putting federal funds at risk. • Report available for download: http://dccouncil.us/news/entry/minimum-income-study-released-by- council-budget-office1
FY 2019 Pr Propo posed Bu Budg dget an and d Fin inan ancial al Pl Plan Co Council Overs rsight S Sche hedule The Executive transmitted the FY 2019 Proposed March 21, 2018 Budget and Financial Plan to the Council March 26 - April Committee Budget Hearings 26, 2018 May 2-4, 1018 Committee Markups 1 st vote on the Local Budget Act, Federal Portion May 15, 2018 Budget Request Act & Budget Support Act 2 nd vote on the Local Budget Act & Federal Portion May 29, 2018 Budget Request Act. 1 st (and only) vote on the FY18 Revised Revenue Emergency June 2018 Second and final vote on Budget Support Act
Offic ice o of the Bu Budg dget D Dir irector Co Contact I Information Commi mitt ttee/ ee/ Phon hone Ema mail Conta tact I Informa mati tion Issue Ar Area Jennifer B r Budoff, B f, Budget D Director or Revenue (202) 724-5689 jbudoff@dccouncil.us Judiciary, Housing and Angela la J Joyner, D , Deputy B Budget D Dire rector or (202) 724-5688 ajoyner@dccouncil.us Neighborhood Revitalization Committee of the Whole, Budget Anne P Phelp lps, B , Budget C Counsel (202) 724-8169 aphelps@dccouncil.us Acts Joe Wolfe, Se Senio ior Cap Capit ital B Budg dget Economic Development, Capital (202) 727-6132 jwolfe@dccouncil.us Analy lyst Improvements Program Government Operations, Ave veri ril C l Carraway, S , Senior B or Budget A Analy lyst (202) 724-8544 acarraway@dccouncil.us Reprogrammings Transportation and the John M MacNeil, S l, Senior or B Budget A Analy lyst Environment, Finance and (202) 724-8056 jmacneil@dccouncil.us Revenue Susan Su anna G Groves, Se Senior B Budg dget Human Services, Health (202) 724-7782 sgroves@dccouncil.us Analy lyst Education, Labor and Workforce Jas ason K Kim im, Se Senio ior B Budg dget A Analyst (202) 724-8139 jkim@dccouncil.us Development
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