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D.C. touts $417m budget surplus from FY2012

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The District posted a $417 million surplus last fiscal year, powered by $27 million in surprise revenues from fines and particularly strong sales and estate tax collections. The city formally announced the surplus -- $327 million of which was purely local money -- on Tuesday as it unveiled its annual audit. "This is affirmation that our economic development strategies are working and shows that...

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