The mission of the independent Office of the Chief Financial Officer (OCFO) is to enhance the fiscal and financial stability, accountability and integrity of the Government of the District of Columbia.
The OCFO, managed by Chief Financial Officer Glen Lee, is responsible for:
- Oversight and direct supervision of the financial and budgetary functions of the District government
- Operating and maintaining a coordinated financial management system to budget, collect, control, and properly account for more than $24 billion in annual operating and capital funds
- Preparing the city's annual budget, representing the District in the federal appropriations process, and monitoring budget performance during the fiscal year
- Borrowing on behalf of the District, collecting receipts, payments, and transactions for the District, and investing the city's funds
- Administering and enforcing the District's tax laws, collecting revenue for the city, and recording deeds and other written instruments affecting a right, title, or interest in real or personal property in the District
- Developing, implementing and monitoring the District's accounting policies and systems and producing the audited Comprehensive Annual Financial Report for the city
- Forecasting revenue for the District government, developing fiscal impact statements for proposed legislation, performing tax expenditure analysis, and providing advice on economic development matters.
The OCFO organization consists of: