WASHINGTON - The District of Columbia's fiscal 2009 revenues will be $127 million less than were projected in September and will continue to deteriorate in each of the next three fiscal years, chief financial officer Natwar Gandhi said Friday.

The downwardly revised revenue projections are on top of a $131 million shortfall reported in September, which already forced district officials to cut spending to plug it.

Subscribe Now

Independent and authoritative analysis and perspective for the bond buying industry.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.