Specifies interim rules regarding: (1) the CFO's authority over the Office's personnel and certain other financial personnel; (2) the CFO's authority over contract procurement of goods and services for the Office; and (3) the preparation and submission of the annual budgets of such Office and the Inspector General.
States conditions under which reprogramming of amounts in the budget may occur after the adoption of the annual budget for control and non-control fiscal years.
Repeals the requirement for D.C. Council approval of contracts exceeding $1 million during a one-year period.
Amends the District of Columbia Financial Responsibility and Management Assistance Act of 1995 to direct the CFO to: (1) establish a reporting event notification system to monitor the financial performance of the District government, economic trends in the Washington metropolitan area, and other factors affecting the District's financial stability; (2) make a determination, based on such factors, as to whether an event is likely to occur which will result in the initiation of a control period if the District does not take certain actions to respond to the event; and (3) notify the Mayor and Congress upon such determination. Requires the Mayor to develop an action plan to respond to an event upon such a notification.
Sets forth provisions concerning: (1) the enactment of the District's budget without congressional approval; (2) the hiring of employees if the positions are authorized by the D.C. Council (currently, only by an Act of Congress); and (3) repeal of specified Federal authority over the District's budget-making process.