Volume 1 - Executive Summary - Office of the Chief Financial Officer

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Selection of Financial Consultants and Service Providers To assist with issuing its bonds in the most efficient and effective manner, and to ensure compliance with all applicable legal requirements, the District shall select Bond Counsel, Disclosure Counsel, and Financial Advisor services, and shall do so on a competitive basis through a Request for Proposals (RFP) process, unless in an emergency situation, with the nature of such emergency documented in writing. Equipment Financing Program The District will maintain a program to finance (on a tax-exempt basis) the acquisition of agency capital equipment with estimated useful lives of five to ten years. This program is part of the District’s policy of seeking to match the useful lives of its capital assets with the duration of the debt that finances such assets, identifying the lowest available cost of financing, as well as managing agency operating costs. Independent Agency/Instrumentality Debt Issuance The CFO shall determine whether or not it is advisable for certain independent agencies/instrumentalities of the District that have segregated revenue streams to pursue issuing bonds supported by such revenue streams. If the CFO determines that such a transaction is advisable, the CFO shall, through the Mayor, submit a written request to the District Council for enactment of the necessary authorizing legislation. The CFO must approve the ultimate structure of any such transaction, and must approve the transaction itself. In the event of such a financing, the independent agency/instrumentality shall provide pertinent information and documents to the CFO related to such financing (including the project or program financed) on an on-going basis and upon request. Short-Term Borrowing The District’s policy is to issue short-term debt in the form of Tax Revenue Anticipation Notes to finance any intrayear seasonal cash needs. Such notes must be repaid by the end of the fiscal year in which they are issued. A longterm policy goal is for the District to obtain and maintain sufficient operating cash balances so that the need for short-term borrowing is minimized or eliminated. Financial Asset Management Policy Authorization and Responsibility The CFO, established by the District of Columbia Financial Responsibility and Management Assistance Act of 1995, approved April 17, 1995 (Pub.L. No. 104-8, §302(a), 109 Stat 142, D.C. Official Code §1-204.24a), is responsible for maintaining custody of all public funds belonging to or under the control of the District government and depositing all amounts paid in such depositories and under such terms and conditions as may be designated by the Council of the District of Columbia pursuant to Section 424 of the Home Rule Act. Except where prescribed by law, the CFO has delegated this responsibility to the Treasurer of the District of Columbia (Treasurer). The Treasurer, on behalf of the CFO, actually maintains custody of all public funds belonging to or under the control of the District government or its agencies and deposits all funds in depositories pursuant to D.C. Official Code §1-204.24d(11). The Treasurer is responsible for the administration and supervision of the Office of Finance and Treasury (OFT), which includes the responsibility for the collection and deposit of all receipts. The Treasurer shall also specify operational procedures and standards to be used for all depository intake facilities. Deposit of Cash Receipts Policy All District government agencies and instrumentalities, including component units, boards, commissions and other public entities, are subject to D.C. Official Code §§47-351 et seq. and shall deposit all cash, checks and other negotiable instruments received within two business days after collection or receipt of such moneys. Items deposited pursuant to D.C. Official Code §§47-351 et seq. shall be properly posted in the District’s accounting system of record within two business days of receipt. FY 2013 Proposed Budget and Financial Plan D.C. Comprehensive Financial Management Policy Appendix A-3
Background: The timely deposit of moneys received provides several benefits. The most important benefit is effective and efficient control of these funds, which reduces the risk of loss due to errors, carelessness or theft. In addition, the timely deposit of funds helps to maximize interest earnings and lowers the risk of returned checks due to non-sufficient funds or accounts being closed. It also provides a responsive service to the payers who would otherwise be uncertain whether their checks were received. Disbursement of Public Funds Policy All disbursements from District depository accounts shall be made by check, electronic transfer or pay cards. All District agencies shall comply with the OCFO’s Financial Management and Control Order No. 96-04, which establishes guidelines of authority, indicates required documentation, and requires expediency in the processing of payment vouchers. All District agencies and employees shall comply with the OCFO’s Financial Management and Control Order No. 01-001, which governs the establishment, control and maintenance of bank accounts, checks and signature authority to prevent fraud, abuse or other irregularities. Likewise, all District agencies shall also comply with the provisions in the District’s Quick Payment Act which ensures the timely payment of public funds to vendors. Background: The OFT recognizes the financial risks associated with the issuance of checks. The prevalence of check fraud demands that the District take measures to safeguard the District’s funds, including the use of a single state check design. Checks issued by the District government use a controlled paper stock with numerous security features and a background design that makes all District government checks easily recognizable as official, legal payment instruments of the District government. In addition, the District utilizes banking services and policies that prevent fraud by requiring that the District’s banking institutions only honor checks that the District has previously identified as being validly issued. Revolving Fund Policy Revolving fund disbursements must be authorized and limited to emergency situations which cannot be addressed using established regular procedures. Therefore, revolving funds shall only be used for approved emergency transactions and shall not be used, under any circumstances, for the following: • Travel reimbursements; • Travel advances; • Payments to employees for personal services; • Subscriptions, memberships, registrations, or tuition; • Clearing fund for any purpose; • Monthly recurring operating expenses of the agency; and • Situations that can be accommodated through other established procedures. Background: Revolving funds are established for the purpose of making emergency or other disbursements that cannot be accommodated through established procedures due to time constraints. When revolving funds are used, the disbursement process is not complete until claims for the payments are made from District funds and the revolving fund is reimbursed for the emergency activity. In the District of Columbia there are four types of revolving funds: • Internal Service Funds (D.C. Official Code §47-373(2)E); • Enterprise Funds (D.C. Official Code §47-373(2)D); • Statutorily mandated funds such as the Public Assistance and Administration Revolving Fund (D.C. Official Code §47-373(2)); and • Imprest Funds (Mayor’s Memorandum 82-29, dated May 28, 1982). Collateralization Policy The District of Columbia shall maintain guidelines sufficient to ensure that eligible financial institutions collateralize District deposits at 102 percent of the District’s balances on deposit, except for funds that are fully insured by the federal government. The OFT shall monitor collateral on a daily basis. D.C. Comprehensive Financial Management Policy Appendix A-4 FY 2013 Proposed Budget and Financial Plan
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THE GOVERNMENT OF THE DISTRICT OF C
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The Government Finance Officers Ass
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Office of the Chief Financial Offic
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Council of the District of Columbia
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GOVERNMENT OF THE DISTRICT OF COLUM
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Volumes Bound Separately Volume 2 -
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How to Read the Budget and Financia
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Operating Appendices (Volumes 4 and
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FY 2013 Proposed Budget Changes The
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• Appendices that provide support
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This table presents the agency's to
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This indicates the specific program
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The FY 2013 Proposed Budget Changes
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Agency performance measures describ
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appropriation titles are the agenci
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Figure 1-1 Where the Money Comes Fr
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Table 1-2a Local Funds Expenditure
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Table 1-4 Local Funds Proposed FTEs
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Table 1-5 Major Gross Funds FTE Cha
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Strategic Budgeting 2 The District
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Information Systems In FY 2004, the
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Revenues 2. Taxes. This category in
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7. Interfund Transfers. This line i
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Expenditures (by Appropriation Titl
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43. Contingency Cash Reserve Balanc
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Table 3-1 (Continued) FY 2013 - 201
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Table 3-3 FY 2013 - FY 2016 General
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Table 3-4 FY 2013 - FY 2016 General
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Table 3-5 FY 2013 - FY 2016 Federal
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Revenue 4 TOTAL GENERAL FUND TAX RE
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The Economic Outlook Despite a brig
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magnitude would have significant ra
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acks in federal spending and the fe
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Local Fund Property Taxes Real-Prop
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Transfer to Convention Center Fund:
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Table 4-7 Selective Sales and Excis
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Transfer to Healthy DC Fund: Of the
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Table 4-10 Other Tax Revenue, Fisca
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Property tax changes: Repeal subjec
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Table 4-12 (cont.) Policy Proposals
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Implement a motor fuel quality test
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Table 4-13 (cont) Percentage Change
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Table 4-14 (cont) Changes in Genera
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Table 4-15 (Cont.) General Purpose
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FY 2013 Proposed Budget and Financi
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Table 4-17: Special Purpose (O-type
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PART A — GENERAL FUND TAXES FY 20
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PART A — GENERAL FUND TAXES FY 20
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Tax Expenditure Budget FY 2012 - FY
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Page 113 and 114: FY FY 2013 Proposed Budget and Fina
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Page 129 and 130: Specifically, the chapter: • Exam
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Page 135 and 136: Table 5-2 Overtime Actual Expenditu
Page 137 and 138: Table 5A-1 (continued) Local Funds
Page 139 and 140: Table 5A-3 Gross Funds Actual Expen
Page 141 and 142: Table 5A-4 Local Funds Actual Expen
Page 143 and 144: Table 5A-6 Federal Grant Actual Exp
Page 145 and 146: Table 5A-8 Dedicated Taxes Funds Ac
Page 147 and 148: Table 6-1 Overview (Dollars in thou
Page 149 and 150: Table 6-3 Capital Fund Pro Forma (D
Page 151 and 152: Table 6-4 OFFICE OF FINANCE AND TRE
Page 153 and 154: Figure 6-2 Number of Capital-Funded
Page 155 and 156: Job Creation and Economic Developme
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Page 159 and 160: Appendix A: D.C. Comprehensive Fina
Page 161: General Fund expenditures) for all
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Page 167 and 168: • Computer hardware system costs
Page 169 and 170: Background: The District is require
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Page 179 and 180: Reporting of Grant Match and Mainte
Page 181 and 182: B. Economic Development and Regulat
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Page 185 and 186: Human Support Services (Dollars in
Page 187 and 188: G. Financing and Other One agency i
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Page 191 and 192: Appendix C Basis of Budgeting and A
Page 193 and 194: Appendix D: Glossary of Budget Term
Page 195 and 196: Arbitrage - The simultaneous buying
Page 197 and 198: Current Services Funding Level (CSF
Page 199 and 200: Key Result Measures - A set of resu
Page 201 and 202: Special Purpose Revenue - Funds use
Page 203 and 204: Appendix E Current Services Funding
Page 205 and 206: Other Adjustments The following are
Page 207 and 208: Government of the District of Colum
Page 209 and 210: AppropriationTitle (Thousands of Do
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Government of the District of Colum
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AppropriationTitle Agy Cde Governme
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A BILL ---------- IN THE COUNCIL OF
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$11,500,000, to remain available un
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TITLE III--DISTRICT OF COLUMBIA FUN
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other funds, and $9,565,000 from fu
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necessary for reimbursement to the
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Board of Trustees of the University
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from local funds, $26,403,000 from
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contingency reserve fund under sect
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Unemployment Insurance Trust Fund F
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District of Columbia government sub
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corporations, institutions, and org
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District, RLA, or any entity of the
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(44) The play field portion of Rese
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(b) Every remote-vendor that does n
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Council (or Act of Congress, in the
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(a) Section 602(c)(1) of the Distri
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Volume 1 - Executive Summary - Office of the Chief Financial Officer

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