In order to monitor and control the District's spending, the Office of Budget and Planning (OBP) has instituted a Financial Review Process. This process involves the submission of a monthly Financial Status Report by each agency, an analysis of those reports by the OBP staff, and reconciliation of any differences in expenditure forecasts. In addition, status reports on revenue and cash projections are included.
The Financial Status Report is compiled to provide an overview of the District's progress in executing and meeting the targets set forth in the budget and financial plan, which includes revenues, expenditures, cash receipts and disbursements. As appropriate, meetings between the OBP staff and agency personnel are conducted to more fully explore expenditure controls, revenue collections, management issues and forecasting assumptions.
