Source: https://development.code.dccouncil.us/dc/council/code/titles/47/chapters/3/subchapters/V/
Timestamp: 2019-04-21 00:36:58+00:00

Document:
D.C. Law Library - Subchapter V. Fund Accounting.
§ 47–375. Duties of Mayor.
§ 47–376. Construction of subchapter.
§ 47–377. Financial obligations of District.
(11) The Council intends to adopt said fund structure and policies in order to respond to change and meet the information needs of the various users of financial information to assist the Mayor to design, implement and operate the financial systems and policies, procedures, practices and controls necessary for the sound financial management and administration of the District in a manner consistent with generally accepted accounting principles.
(a) Beginning October 1, 1979, the District will account for and report on, unless specifically noted in financial reports, its financial transactions in accordance with generally accepted accounting principles.
(b) The systems, procedures, and controls established by the Mayor shall permit the District to demonstrate and report on compliance with legal requirements and contractual agreements as well as generally accepted accounting principles.
(a) The Mayor shall be responsible for the future classification of any funds and accounts within the appropriate fund types and fund categories as set forth in this subchapter.
(b) Classification by the Mayor shall be consistent with generally accepted accounting principles.
(c) The Mayor shall furnish the Council notice of his or her classification at the time of the submission of the annual budget for the District of Columbia government as provided in § 1-204.42(a).
(d) The Mayor, pursuant to §§ 1-204.47, 1-204.48, and 1-204.49, shall be responsible for developing and implementing appropriate accounting policies and procedures to carry out the purposes of this subchapter, including all steps necessary to establish the systems and internal procedures and controls necessary to assure proper application of the policies and procedures and appropriate proceedings for monitoring such system.
(e) The financial statement submitted by the Mayor to the Council pursuant to § 1-204.48(a)(4) shall identify any changes in accounting principles and policies followed by the District, the reasons therefore, and the practical effect of the changes.
(f) To the maximum extent possible, common terminology and classifications will be used in the budgeting, accounting and reporting process.
(g) The Mayor is authorized to establish for accounting and financial reporting purposes a Water and Sewer Enterprise Fund in accordance with generally accepted accounting principles.
(h) The enumeration contained in this section shall not be construed so as to limit the Mayor’s authority with respect to classification and establishment of appropriate accounting procedures for other funds or accounts not specifically referenced.
(i) Nothing contained in the Revenue Funds Availability Act of 1975 shall prevent the Mayor from accounting for revenues and expenditures in accordance with generally accepted accounting principles.
This section is referenced in § 31-2408.01, § 34-2202.07, and § 34-2407.02.
Insurance, uninsured motorist fund, see § 31-2408.01.
Water and sewer enterprise fund, establishment, see § 34-2202.07.
Water supply, sale of property in satisfaction of unpaid service charges, water and sewer enterprise fund, see § 34-2407.02.
The Revenue Funds Availability Act of 1975, referred to in subsection (i) of this section, is D.C. Law 1-42.
(a) Nothing in this subchapter shall be construed as impinging upon or otherwise superseding the authority otherwise vested by law in independent agencies or instrumentalities of the District of Columbia.
(b) Nothing in this subchapter shall be construed to prohibit the Mayor from establishing accounts within funds, to the same extent that he or she was authorized prior to the passage of this subchapter.
(c) The Mayor shall promptly advise the Council on any changes in the financial management system required pursuant to § 2 of an Act to provide for an independent audit of the financial condition of the government of the District of Columbia.
The Act referred to in subsection (c) of this section is 90 Stat. 1205, Pub. L. 94-399, approved September 4, 1976, which established the Temporary Commission on Financial Oversight of the District of Columbia.
The Mayor is authorized to establish such systems as may be required for the accounting and certification of financial obligations of the District of Columbia government and may, through delegations and designations of District government officials and agencies (identified by name in the District of Columbia Register prior to such delegation or designation), provide for the decentralized audit and approval before payment of bills, invoices, payrolls, and other evidence of claims, demands, or charges against the District of Columbia government.

References: V. 

§ 47

§ 47

§ 47
 § 1
 § 1
 § 31
 § 34
 § 34
 § 31
 § 34
 § 34
 § 2