Mayor Adrian Fenty’s revised 2010 budget slashes previously approved earmarks, hikes fees, and eliminates numerous capital projects to close a projected $150 million shortfall.

The budget proposal released late Friday, if approved by the D.C. Council, would radically amend the fiscal year 2010 spending plan adopted only a month ago. A dismal June revenue forecast by Chief Financial Officer Natwar Gandhi forced the executive back to the budget drawing board.