United States Government Publishing Office publisher pbl distributor dst United States Government Accountability Office Accounting and Information Management Division author aut Government Organization text government publication eng GAOREPORTS Legislative Agency Publications gao legislative 2010-08-12 U.S. Government Printing Office 1996-07-19 monographic deposited born digital 25 p. GA 1.13:T-AIMD-96-133 https://www.govinfo.gov/app/details/GAOREPORTS-T-AIMD-96-133 P0b002ee180374dcf f:ai96133t DGPO 2010-08-12 2011-03-24 GAOREPORTS-T-AIMD-96-133 machine generated eng fdlp REPORT GAOREPORTS-T-AIMD-96-133 T-AIMD-96-133 Financial management systems Municipal governments Funds management Retirement pensions Future budget projections Budget deficit Budget receipts Property taxes Privatization Municipal budgets District of Columbia New York (NY) Philadelphia (PA) Medicaid Program Testimony AIMD Pursuant to a congressional request, GAO discussed the financial and budget trends in the District of Columbia's revenues and expenses. GAO noted that: (1) the District's revenues decreased from $2.9 billion in fiscal year (FY) 1993 to $2.7 billion in FY 1995, due to a one-time accounting change and a decrease in the assessed value of the District's commercial and residential property; (2) over 75 percent of the District's operating grants were for Medicaid reimbursements in FY 1995; (3) the District received a federal payment in FY 1995 totalling $660 million, but this payment did not adequately compensate the District for the additional responsibility it assumed or the loss of revenue due to federally imposed restrictions; (4) the District's inability to tax nonresident wages resulted in a loss of revenue; (5) the District's overall expenditures increased from $5.5 billion in FY 1993 to $6 billion in FY 1994, and decreased to $5.4 billion in FY 1995 due to shifts in Medicaid and employee benefits expenditures; (6) the District's unfunded pension liability stands at $4.7 billion and is expected to increase to $7 billion by 2004; (7) the District has delayed pension, vendor, and Medicaid payments, and borrowed short-term bonds from the Treasury to finance its operations; (8) the District Financial Responsibility and Management Assistance Authority has reviewed 1,562 contracts, developed a strategic plan, approved 10 privatization plans for FY 1996, and allocated reductions to several departments; and (9) the New York and Philadelphia financial control boards have taken numerous actions to reform their cities' accounting and budgeting practices. https://www.govinfo.gov/content/pkg/GAOREPORTS-T-AIMD-96-133/html/GAOREPORTS-T-AIMD-96-133.htm https://www.govinfo.gov/content/pkg/GAOREPORTS-T-AIMD-96-133/pdf/GAOREPORTS-T-AIMD-96-133.pdf GAO/T-AIMD-96-133 https://www.govinfo.gov/app/details/GAOREPORTS-T-AIMD-96-133 Testimony GAO/T-AIMD-96-133; District Government: Information on Its Fiscal Condition; Financial management systems Municipal governments Funds management Retirement pensions Future budget projections Budget deficit Budget receipts Property taxes Privatization Municipal budgets District of Columbia New York (NY) Philadelphia (PA) Medicaid Program Public Law 93-198 Public Law 96-122 Public Law 102-106