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Financial Status: District of Columbia Finances

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Report Type Reports and Testimonies
Report Date July 14, 1994
Report No. T-AIMD-94-158
Subject
Summary:

The District of Columbia, faces with unresolved long-term financial issues and short-term financial crises, will run short of cash by the end of fiscal year 1995 unless steps are taken to compensate for revenue shortfalls, which could force the city to borrow from the U.S. Treasury. This testimony discusses GAO's recent review of the District's finances; the calculation of the authorized federal payment to the District for fiscal year 1995; and H.R. 2902, which would amend the District's Home Rule Act.

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