†
HR 3508 EAS
‘‘(23) Preparing appropriate annual, quarterly,
and monthly financial reports of the accounting and
financial operations of the District government.
‘‘(24) Not later than 120 days after the end of
each fiscal year, preparing the complete financial
statement and report on the activities of the District
government for such fiscal year, for the use of the
Mayor under section 448(a)(4).
‘‘(25) Preparing fiscal impact statements on reg-
ulations, 
multiyear 
contracts, 
contracts 
over
$1,000,000 and on legislation, as required by section
4a of the General Legislative Procedures Act of 1975.
‘‘(26) Preparing under the direction of the
Mayor, who has the specific responsibility for formu-
lating budget policy using Chief Financial Officer
technical and human resources, the budget for submis-
sion by the Mayor to the Council and to the public
and upon final adoption to Congress and to the pub-
lic.
‘‘(27) Certifying all collective bargaining agree-
ments and nonunion pay proposals prior to submis-
sion to the Council for approval as to the availability
of funds to meet the obligations expected to be in-
curred by the District government under such collec-
†
HR 3508 EAS
tive bargaining agreements and nonunion pay pro-
posals during the year.
‘‘(e) FUNCTIONS OF TREASURER.—At all times, the
Treasurer shall have the following duties:
‘‘(1) Assisting the Chief Financial Officer in re-
porting revenues received by the District government,
including submitting annual and quarterly reports
concerning the cash position of the District govern-
ment not later than 60 days after the last day of the
quarter (or year) involved. Each such report shall in-
clude the following:
‘‘(A) Comparative reports of revenue and
other receipts by source, including tax, nontax,
and Federal revenues, grants and reimburse-
ments, capital program loans, and advances.
Each source shall be broken down into specific
components.
‘‘(B) Statements of the cash flow of the Dis-
trict government for the preceding quarter or
year, including receipts, disbursements, net
changes in cash inclusive of the beginning bal-
ance, cash and investment, and the ending bal-
ance, inclusive of cash and investment. Such
statements shall reflect the actual, planned, better
or worse dollar amounts and the percentage
†
HR 3508 EAS
change with respect to the current quarter, year-
to-date, and fiscal year.
‘‘(C) Quarterly cash flow forecast for the
quarter or year involved, reflecting receipts, dis-
bursements, net change in cash inclusive of the
beginning balance, cash and investment, and the
ending balance, inclusive of cash and investment
with respect to the actual dollar amounts for the
quarter or year, and projected dollar amounts
for each of the 3 succeeding quarters.
‘‘(D) Monthly reports reflecting a detailed
summary analysis of all District of Columbia
government investments, including—
‘‘(i) the total of long-term and short-
term investments;
‘‘(ii) a detailed summary analysis of
investments by type and amount, including
purchases, sales (maturities), and interest;
‘‘(iii) an analysis of investment port-
folio mix by type and amount, including li-
quidity, quality/risk of each security, and
similar information;
‘‘(iv) an analysis of investment strat-
egy, including near-term strategic plans
and projects of investment activity, as well
†
HR 3508 EAS
as forecasts of future investment strategies
based on anticipated market conditions,
and similar information; and
‘‘(v) an analysis of cash utilization,
including—
‘‘(I) comparisons of budgeted per-
centages of total cash to be invested
with actual percentages of cash in-
vested and the dollar amounts;
‘‘(II) comparisons of the next re-
turn on invested cash expressed in per-
centages (yield) with comparable mar-
ket indicators and established District
of Columbia government yield objec-
tives; and
‘‘(III) comparisons of estimated
dollar return against actual dollar
yield.
‘‘(E) Monthly reports reflecting a detailed
summary analysis of long-term and short-term
borrowings inclusive of debt as authorized by sec-
tion 603, in the current fiscal year and the
amount of debt for each succeeding fiscal year
not to exceed 5 years. All such reports shall
reflect—
†
HR 3508 EAS
‘‘(i) the amount of debt outstanding by
type of instrument;
‘‘(ii) the amount of authorized and
unissued debt, including availability of
short-term lines of credit, United States
Treasury borrowings, and similar informa-
tion;
‘‘(iii) a maturity schedule of the debt;
‘‘(iv) the rate of interest payable upon
the debt; and
‘‘(v) the amount of debt service require-
ments and related debt service reserves.
‘‘(2) Such other functions assigned to the Chief
Financial Officer under subsection (d) as the Chief
Financial Officer may delegate.
‘‘(f) DEFINITIONS.—For purposes of this section (and
sections 424a and 424b)—
‘‘(1) the term ‘Authority’ means the District of
Columbia Financial Responsibility and Management
Assistance Authority established under section 101(a)
of the District of Columbia Financial Responsibility
and Management Assistance Act of 1995;
‘‘(2) the term ‘control year’ has the meaning
given such term under section 305(4) of such Act; and
†
HR 3508 EAS
‘‘(3) the term ‘District government’ has the
meaning given such term under section 305(5) of such
Act.’’.
(b) CLARIFICATION OF DUTIES OF CHIEF FINANCIAL
OFFICER AND MAYOR.—
(1) 
RELATION
TO
FINANCIAL
DUTIES
OF
MAYOR.—Section 448(a) of such Act (section 1–
204.48(a), D.C. Official Code) is amended by striking
‘‘section 603,’’and inserting ‘‘section 603 and except
to the extent provided under section 424(d),’’.
(2) RELATION TO MAYOR’S DUTIES REGARDING
ACCOUNTING
SUPERVISION
AND
CONTROL.—Section
449 of such Act (section 1–204.49, D.C. Official Code)
is amended by striking ‘‘The Mayor’’ and inserting
‘‘Except to the extent provided under section 424(d),
the Mayor’’.
SEC. 202. PERSONNEL AUTHORITY.
(a) PROVIDING INDEPENDENT PERSONNEL AUTHOR-
ITY.—
(1) IN GENERAL.—Part B of title IV of the Dis-
trict of Columbia Home Rule Act is amended by add-
ing at the end the following new section:
‘‘AUTHORITY OF CHIEF FINANCIAL OFFICER OVER
PERSONNEL OF OFFICE AND OTHER FINANCIAL PERSONNEL
‘‘SEC. 424. (a) IN GENERAL.—Notwithstanding any
provision of law or regulation (including any law or regu-
†
HR 3508 EAS
lation providing for collective bargaining or the enforce-
ment of any collective bargaining agreement), employees of
the Office of the Chief Financial Officer of the District of
Columbia, including personnel described in subsection (b),
shall be appointed by, shall serve at the pleasure of, and
shall act under the direction and control of the Chief Finan-
cial Officer of the District of Columbia, and shall be consid-
ered at-will employees not covered by the District of Colum-
bia Merit Personnel Act of 1978, except that nothing in this
section may be construed to prohibit the Chief Financial
Officer from entering into a collective bargaining agreement
governing such employees and personnel or to prohibit the
enforcement of such an agreement as entered into by the
Chief Financial Officer.
‘‘(b) PERSONNEL.—The personnel described in this
subsection are as follows:
‘‘(1) The General Counsel to the Chief Financial
Officer and all other attorneys in the Office of the
General Counsel within the Office of the Chief Finan-
cial Officer of the District of Columbia, together with
all other personnel of the Office.
‘‘(2) All other individuals hired or retained as
attorneys by the Chief Financial Officer or any office
under the personnel authority of the Chief Financial
Officer, each of whom shall act under the direction