District Of Columbia § 1-204.50b - Comprehensive Financial Management Policy.
Full text of District Of Columbia D.C. Code § 1-204.50b — Comprehensive Financial Management Policy., with citation guidance and answers to common questions.
§ 1-204.50b. Comprehensive Financial Management Policy.
1-204.50bThe District of Columbia shall conduct its financial management in accordance with a comprehensive financial management policy.
The comprehensive financial management policy shall include, but not be limited to, the following:
A cash management policy.
A debt management policy.
A financial asset management policy.
An emergency reserve management policy in accordance with .
A contingency reserve management policy in accordance with section .
A policy for determining real property tax exemptions for the District of Columbia.
The comprehensive financial management policy shall be reviewed at the end of each fiscal year by the Chief Financial Officer who shall:
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 ) the District of Columbia Financial Responsibility and Management Assistance Authority (Authority) for review;
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
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.
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.
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.
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.
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.
Annotations
Section 1802 of D.C. Law 14-190 provided: “Pursuant to section 450B of the District of Columbia Home Rule Act, approved November 22, 2000 (114 Stat. 2475; D.C. Official Code ), the Council hereby approves the FY 2002 Comprehensive Financial Management Policy approved by the Mayor and transmitted to the Council on March 18, 2002.”
Section 154 (c) of Public Law 106-522 provided: “This section and the amendments made by this section shall take effect on October 1, 2000.”
Source: official District Of Columbia text · Last verified 2026-08-27
Frequently Asked Questions About District Of Columbia § 1-204.50b
What does D.C. Code § 1-204.50b cover?
Section 1-204.50b ("Comprehensive Financial Management Policy.") is part of the D.C. Code, the codified statutory law of District Of Columbia. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite District Of Columbia § 1-204.50b?
A common citation format is "D.C. Code § 1-204.50b" (District Of Columbia). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of District Of Columbia law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the District Of Columbia official source linked on this page or consult a licensed District Of Columbia attorney.
How does District Of Columbia § 1-204.50b apply to my situation?
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Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in District Of Columbia.