Council Proposes Legislation to Make Budget More Transparent
dcogcadmin | January 14, 2010
The D.C. Fiscal Policy Institute offers praise for legislation proposed by the D.C.
The D.C. Fiscal Policy Institute offers praise for legislation proposed by the D.C. Council that would require additional Council oversight of some post-adoption budget changes. The mayor is permitted to "reprogram" funds, as well as make interagency transfers — both ways of shifting money (to be used for different purposes, or by different entities) during the year after the budget has been adopted. The Council’s legislation would require that reprogrammings with a value of $500,000 or more would need to receive Council approval; the current threshold is $1 million. And it would adopt the same oversight role with respect to inter-agency transfers, requiring Council approval over $500,000. The bill would also require the District’s Chief Financial Officer to report quarterly on any changes to the budget over $50,000. D.C. Fiscal Policy Institute