D.C. Council Approves $3.8 Billion Budget, $250 Million of GOs

Vadum, Matthew
May 2003
Bond Buyer;5/7/2003, Vol. 344 Issue 31630, p34
Trade Publication
The District of Columbia Council, on May 6 2003, approved a 3.768 billion dollar budget for fiscal 2004 that includes authority for the issuance of 250 million dollars in general obligation bonds. The budget legislation, which Mayor Anthony A. Williams is expected to sign, does not contain tax increases, as the mayor had proposed. If all federal grants to the city are included, the budget weighs in at under 5.6 billion dollars, which is 163 million dollars over fiscal 2003 levels, officials said. Approval of the budget blueprint, which provides for a 4 percent increase in the so-called local expenditure portion of the budget that includes spending on local programs, came after recent negotiations with Williams, who had sought a 5.5 percent increase in local spending in fiscal 2004 over the fiscal 2003 level.


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