D.C. Mayor Muriel Bowser appointed the District’s next chief financial officer Monday: Glen Lee, the finance director for Seattle.
“It’s obviously very important for us to have a CFO with a high level of experience, and Glenn brings that experience across a wide range of responsibilities to the job as the District CFO,” Bowser said at a briefing.
The D.C. CFO oversees everything from revenue estimation to budget formulation and treasury management, she added.
“It is also very important for us to hire someone with strong integrity, who can come and build on the District’s financial success,” Bowser said. “We have one of the strongest economies in the nation and in recent years. We are very proud of our work on our budget and on making a thriving economy in the District.”
The mayor touted D.C.’s first AAA bond rating upgrade, its first audit to find zero significant deficiencies or material weaknesses and the District’s 60-day cash reserve, “a milestone we hit right before COVID.”
Lee called the D.C. CFO position “the pinnacle of the public finance profession” in the U.S.
“The mission of the Office of the Chief Financial Officer is to enhance the fiscal and financial stability, accountability and integrity of the District,” he said.
“And this speaks directly to my experience and passion as a financial professional. It’s a direct call to action for the team of career professionals at OCFO, who I look forward to leading, in executing our functions, providing top-notch customer service, maintaining sound business practices, and implementing policies and systems to support residents and businesses alike.”
Lee was first appointed as Seattle’s finance director in 2010. Before that, he managed the city’s revenue forecasting and budget development.
A top priority for the incoming CFO is the impact of the pandemic, getting people back to work, inventorying D.C. housing and increasing activity downtown, Bowser said.
Before taking over as CFO, Lee has to be confirmed by the D.C. Council. Chairman Phil Mendelson told reporters he believes, “what we’re trying to do is see if we can have (Glen Lee) in place by the end of June.”
Until then, Fitzroy Lee will continue serving as CFO. After Glen Lee’s confirmation, Fitzroy Lee will return to the role of deputy CFO and chief economist, leading the Office of Revenue Analysis.
