D.C. Regains Control of Finances.

• Position: News Briefs - Brief Article

* The District of Columbia Financial Responsibility and Management Assistance Authority officially relinquished control over district affairs and finances October 1, restoring self-governance privileges to the federal enclave. The financial control board was established in 1995 when district spending was spiraling out of control and the district's bond rating had sunk to junk status. Emphasizing four consecutive years of budget surpluses and recent upgrades by all three major rating agencies, officials say the district's finances are now fundamentally sound. A...