D.C. Mayor Vincent Gray introduced his pick for the District's new chief financial officer during a news conference Thursday.<br /><br />Jeffrey S. DeWitt has held the position of chief financial officer in Phoenix since 2009. In Phoenix, DeWitt managed a $3.4 billion budget. Washington's city budget is approximately $10 billion.<br /><br />DeWitt has a bachelor's degree in geology and earth science from Eastern Illinois University in Charleston, Ill. and a master's degree in water resource management from Southern Illinois University in Carbondale, Ill.<br /><br />If he is confirmed by D.C. Council, DeWitt would replace Natwar Gandhi. Fifteen years ago, the city almost went bankrupt, but is now working on a $1.5 billion surplus.<br /><br />"This city is doing better than any city, county or state in America," D.C. Council member Jack Evans said. "You're on a national scene. This isn't Des Moines. This is Washington, D.C., the nation's capital. Our local news is sometimes national news."<br /><br />Mayor Gray has has been criticized in the past for pressuring Gandhi to boost revenue estimates. Thursday, with Gray by his side, DeWitt pledged his independence.<br /><br />"You have to maintain that independence no matter where you're the CFO. At times, you have to say no because of the financial situations of government," DeWitt said. <br /><br />Gandhi has held the CFO position for 13 years, overseeing the District's $11 billion budget.