§ 47-374. Accepted accounting principles to be followed.

Current through October 23, 2012

(a) Beginning October 1, 1979, the District will account for and report on, unless specifically noted in financial reports, its financial transactions in accordance with generally accepted accounting principles.

(b) The systems, procedures, and controls established by the Mayor shall permit the District to demonstrate and report on compliance with legal requirements and contractual agreements as well as generally accepted accounting principles.

                
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(June 14, 1980, D.C. Law 3-70, § 5, 27 DCR 1776; enacted, Apr. 9, 1997, D.C. Law 11-254, § 2, 44 DCR 1575.)

HISTORICAL AND STATUTORY NOTES

Prior Codifications

1981 Ed., § 47-374.

Legislative History of Laws

For legislative history of D.C. Law 3-70, see Historical and Statutory Notes following § 47-371.