Members say city’s bond rating at risk under Fenty budget The D.C. Council is taking aim at Mayor Adrian Fenty’s effort to slash the city’s cash reserves, saying it imperils the District’s bond rating and threatens to push the capital back over the bankruptcy ledge.

Under the mayor’s budget, the city’s “fund balance,” which includes reserves to pay the District’s debt, would shrink by more than $300 million between fiscal 2009 and fiscal 2012. The fund balance is made up of money left over from previous years’ budgets.