Government shutdown 2013: D.C. identifies $400M in reserve funds
WASHINGTON (AP) - The District of Columbia government has identified roughly $400 million in additional reserve funds that it may be able to use to keep the city running if the federal shutdown continues.
Councilmember Jack Evans says the additional money would allow the city to meet payroll in two weeks. He says most of it comes from a mandatory cash flow reserve fund.
Evans says Attorney General Irvin Nathan is reviewing the legal ramifications of using the money during the shutdown. A spokesman for Mayor Vincent Gray says Nathan hasn't yet signed off on using the money.
But Evans is confident the money will be made available if needed. The city has nearly exhausted the emergency fund it's been using since the shutdown began.