District of Columbia Mayor Adrian Fenty’s $5.7 billion fiscal year 2008 budget, unveiled Friday, ramps up funding for public charter schools and new police officers, sets the mayor’s school takeover plan into motion, raises one fee and eats up a chunk of the city’s reserves.

The proposal, which now goes to the D.C. Council, is the city’s 11th straight balanced budget. Even with a cooling economy, the District’s chief bean counter said, D.C. is in good shape financially.