Gandhi, 72, said he is resigning for "purely personal" reasons. He will step down on June 1.
Accepting his resignation, Mayor of Washington DC Vincent C Gray said that Gandhi would be missed under whom Washington DC's finances experienced a dramatic turnaround over the last dozen years.
Gandhi has held the office since 2000 and was appointed to a new, five-year term last year.
"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 USD17 million Fiscal Year 2012 surplus," he said.
Gray thanked Gandhi for being a strong partner in helping him restore crucial Fund Balance to USD 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," he said.
Gray said under Gandhi’s stewardship, Washington DC 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.
Born in Gujarat, Gandhi was first appointed to this position by Mayor Anthony Williams June 7, 2000.
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.
In 2007, Gandhi was named one of Governing magazine’s 2007 Public of Officials of the Year and Washingtonian magazine's 150 most powerful public officials.
He was also named one of Washingtonian magazine's 2006 Washingtonians of the Year and was a recipient of the Association of Government Accountants? (AGA) 2007 Distinguished Local Government Leadership Award.
In 2005, the National Academy of Public Administration elected Gandhi as a fellow for his "sustained exemplary contributions and continuing active commitment to the improvement of public administration."
Washington: Indian-American Natwar Gandhi, who as the chief financial officer of Washington DC was responsible for dramatic financial turnaround of the American capital, has resigned, less than a year after he received a third term.
First Published: Sunday, February 03, 2013, 11:50