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DC replenishes cash reserve fund after shutdown

11:22 AM, Nov 1, 2013   |    comments
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WASHINGTON (AP) - The District of Columbia government has replenished the reserve fund that it used to keep the city running during the federal shutdown.

The city government can't spend local tax revenue without authorization by Congress. The city spent more than $148 million out of its contingency cash reserves during the 16-day shutdown, leaving little more than $1.5 million in the fund.

The district's Office of the Chief Financial Officer says that $148 million has been put back into the fund, restoring its starting balance of just under $150 million.

The city was prepared to tap additional reserves once the contingency fund ran out, but that didn't prove necessary.

The city also lost tax revenue during the shutdown, and it won't be reimbursed for picking up trash on National Park Service property.

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