“We have spent ourselves into a hole,” at-large D.C. Councilman David Catania declared last week, citing the city’s total debt and urging legislators to resist Mayor Vincent C. Gray’s request to reprogram $23 million left over from fiscal 2012. Instead of saving those funds, the executive proposed moving them from the operating to the capital budget.
By law, money left from the operating budget at the end of a fiscal year cannot be retained. But the money can be shifted to the capital budget and then used to finance construction, renovations and maintenance needs. Capital funds can be carried from one year to the next.
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