District of ColumbiaEvents DC would count operating costs when calculating cash transfers
If approved and after required review, Events DC would calculate its year-end cash transfer using specified costs, planned debt payments, and fund exclusions.
What it does
At each fiscal year’s end, Events DC would send cash above listed costs and reserves to the District’s General Fund. The calculation would leave out money held for a hotel project or transferred for the District to administer.
The calculation would count debt service separately for each series of outstanding bonds and use budgeted operating and marketing expenses for the next fiscal year.
Argument forCounting upcoming operating costs and excluding money held for other purposes could help Events DC keep funds needed to run its programs.
Argument againstIf the calculation leaves less cash to transfer, the District might have less money for other needs in its General Fund.
More detail
Events DC would calculate excess cash after subtracting listed liabilities, reserves, and planned debt payments, then transfer any excess to the District’s General Fund. The calculation applies to the Authority, also known as Events DC, at the end of each fiscal year. The calculation excludes money in the New Convention Center Hotel Fund and money transferred from the Stadium Maintenance Fund or Ballpark Preservation and Improvement Fund for Events DC to administer. The calculation would use the balance at the end of each fiscal year and include interest due within 185 days after that date.
Events DC would use the maximum annual debt service for each bond series and its budgeted operating and marketing expenses for the upcoming fiscal year in the calculation. These terms apply when calculating the Authority’s excess cash. The operating and marketing expenses would be for the upcoming fiscal year.
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Where it stands
- Introduced
- Passed 1st Chamber
- Passed 2nd Chamber
- To Governor
- Became Law
Looking ahead
No hearings or votes scheduled.
History
- 2026
- Nov 5Committee Mark-up of B26-0843 by the Executive Administration and Labor CommitteeLatest
- Oct 28Public Hearing on B26-0843
- Oct 16Notice of Public Hearing Published in the District of Columbia Register
- Oct 9Notice of Intent to Act on B26-0843 Published in the District of Columbia Register
- Oct 7Notice of Public Hearing filed in the Office of Secretary by Executive Administration and LaborMinor
- Oct 6Referred to Committee on Executive Administration and Labor with comments from the Committee of the WholeMinor
- Oct 1B26-0843 Introduced by Councilmember Bonds at Office of the SecretaryIntroduced
Taxes & BudgetGovernment & EthicsConsumer Protection