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Ed Lazere of the D.C. Fiscal Policy Institute has scooped the reportorial corps with this revelation: District government agency heads have been asked to reduce their budgets by some $300 million going into the fiscal 2011 budget planning process.

This news comes from a memorandum [PDF] issued by City Administrator Neil O. Albert last month, which cites flat revenue growth, the cessation of stimulus funding, and need to replenish reserve funds spent to cover a gap in fiscal 2009. The bottom line is that every agency is “required to present expense reductions and revenue generating proposals that could sustain up to a 10% local funds budget reduction target.”

Writes Albert: “It is critical that each agency evaluate all spending, and dig deeply into the assumptions that underlie its allocation of resources.” Agencies have until Dec. 2 to come up with ideas.

Lazere notes that the “revenue generating proposals” stand to be interesting, given that Fenty made a campaign pledge not to raise taxes, “which severely limits how the city can create new sources of revenue in these cash-strapped times.”