D.C. Code § 1-204.50b
This is the official text of D.C. Code § 1-204.50b, part of District of Columbia’s Code — part of the compiled statutory law of District of Columbia, published by the state as "Code." Browse the sections below, each linked to its official government source.
Not legal advice. This page reproduces the official text of a government statute for reference only. Laws change, and how a statute applies depends on your specific facts. For advice about your situation, consult a licensed attorney in your state.
§ 1-204.50b. Comprehensive Financial Management Policy.
Official statutory text
(a) Comprehensive Financial Management Policy. — The District of Columbia shall conduct its financial management in accordance with a comprehensive financial management policy.
(b) Contents of Policy. — The comprehensive financial management policy shall include, but not be limited to, the following:
(1) A cash management policy.
(2) A debt management policy.
(3) A financial asset management policy.
(4) An emergency reserve management policy in accordance with § 1-204.50a(a) .
(5) A contingency reserve management policy in accordance with section § 1-204.50a(b) .
(6) A policy for determining real property tax exemptions for the District of Columbia.
(c) Annual Review. — The comprehensive financial management policy shall be reviewed at the end of each fiscal year by the Chief Financial Officer who shall:
(1) Not later than July 1 of each year, submit any proposed changes in the policy to the Mayor and (in the case of a fiscal year which is a control year, as defined in § 47-393(4) ) the District of Columbia Financial Responsibility and Management Assistance Authority (Authority) for review;
(2) Not later than August 1 of each year, after consideration of any comments received under paragraph (1) of this subsection, submit the changes to the Council of the District of Columbia (Council) for approval; and
(3) Not later than September 1 of each year, notify the Committees on Appropriations of the Senate and House of Representatives, the Committee on Government Reform of the House of Representatives, and the Committee on Governmental Affairs of the Senate of any changes enacted by the Council.
this subsection, submit the changes to the Council of the District of Columbia (Council) for approval; and
(3) Not later than September 1 of each year, notify the Committees on Appropriations of the Senate and House of Representatives, the Committee on Government Reform of the House of Representatives, and the Committee on Governmental Affairs of the Senate of any changes enacted by the Council.
(d) Procedure for Development of First Comprehensive Financial Management Policy. — (1) Chief Financial Officer. — Not later than April 1, 2001, the Chief Financial Officer shall submit to the Mayor an initial proposed comprehensive financial management policy for the District of Columbia pursuant to this section.
(2) Council. — Following review and comment by the Mayor, not later than May 1, 2001, the Chief Financial Officer shall submit the proposed financial management policy to the Council for its prompt review and adoption.
(3) Authority. — Upon adoption of the financial management policy under paragraph (2) of this subsection, the Council shall immediately submit the policy to the Authority for a review of not to exceed 30 days.
(4) Congress. — Following review of the financial management policy by the Authority under paragraph (3) of this subsection, the Authority shall submit the policy to the Committees on Appropriations of the Senate and House of Representatives, the Committee on Government Reform of the House of Representatives, and the Committee on Governmental Affairs of the Senate for review, and the policy shall take effect 30 days after the date the policy is submitted under this paragraph.
(b) Contents of Policy. — The comprehensive financial management policy shall include, but not be limited to, the following:
(1) A cash management policy.
(2) A debt management policy.
(3) A financial asset management policy.
(4) An emergency reserve management policy in accordance with § 1-204.50a(a) .
(5) A contingency reserve management policy in accordance with section § 1-204.50a(b) .
(6) A policy for determining real property tax exemptions for the District of Columbia.
(c) Annual Review. — The comprehensive financial management policy shall be reviewed at the end of each fiscal year by the Chief Financial Officer who shall:
(1) Not later than July 1 of each year, submit any proposed changes in the policy to the Mayor and (in the case of a fiscal year which is a control year, as defined in § 47-393(4) ) the District of Columbia Financial Responsibility and Management Assistance Authority (Authority) for review;
(2) Not later than August 1 of each year, after consideration of any comments received under paragraph (1) of this subsection, submit the changes to the Council of the District of Columbia (Council) for approval; and
(3) Not later than September 1 of each year, notify the Committees on Appropriations of the Senate and House of Representatives, the Committee on Government Reform of the House of Representatives, and the Committee on Governmental Affairs of the Senate of any changes enacted by the Council.
this subsection, submit the changes to the Council of the District of Columbia (Council) for approval; and
(3) Not later than September 1 of each year, notify the Committees on Appropriations of the Senate and House of Representatives, the Committee on Government Reform of the House of Representatives, and the Committee on Governmental Affairs of the Senate of any changes enacted by the Council.
(d) Procedure for Development of First Comprehensive Financial Management Policy. — (1) Chief Financial Officer. — Not later than April 1, 2001, the Chief Financial Officer shall submit to the Mayor an initial proposed comprehensive financial management policy for the District of Columbia pursuant to this section.
(2) Council. — Following review and comment by the Mayor, not later than May 1, 2001, the Chief Financial Officer shall submit the proposed financial management policy to the Council for its prompt review and adoption.
(3) Authority. — Upon adoption of the financial management policy under paragraph (2) of this subsection, the Council shall immediately submit the policy to the Authority for a review of not to exceed 30 days.
(4) Congress. — Following review of the financial management policy by the Authority under paragraph (3) of this subsection, the Authority shall submit the policy to the Committees on Appropriations of the Senate and House of Representatives, the Committee on Government Reform of the House of Representatives, and the Committee on Governmental Affairs of the Senate for review, and the policy shall take effect 30 days after the date the policy is submitted under this paragraph.
Status: in_force · Read it on the official government site
Need a lawyer in District of Columbia?
Find a District of Columbia lawyer
About this page: Statute text is reproduced from official government publishers via the
Open US Law dataset
(Vaquill AI, snapshot v2026.08, CC BY 4.0). Primary legislative text like this is public domain under the government-edicts doctrine
(Georgia v. Public.Resource.Org, 2020). We link every section back to its official source so you can verify it independently.