Laying the foundation for a resilient fiscal future for the District of Columbia
The proposed fiscal year 2025 budget represents a 7 percent growth in spending over the approved Fiscal Year 2024 budget, with significant investments in public safety and downtown recovery. It also substantially raises public school funding paid out of the local budget to make up for the federal fiscal aid schools will lose next fiscal year. Even with over $1.8 billion in new revenue initiatives, the four-year financial plan relies on drawing down $2.3 billion of fund balance.
To support a resilient fiscal future, the District will need to take steps towards right-sizing the budget, identifying what programs work, and determining where redundancies exist.