2020 District of Columbia Code
Title 47 - Taxation, Licensing, Permits, Assessments, and Fees. [Enacted title]
Chapter 45 - College Savings Program
§ 47–4512. Audit of Program

(a) The Mayor shall audit the Program annually.

(b)(1) By May 31st of each year, the Chief Financial Officer shall submit to the Council a report for the preceding fiscal year, which shall include:

(A) The Mayor’s audit report for the year;

(B) A financial accounting of the Program, including:

(i) The operating and administrative budget for the Program, which shall include a complete list of revenue sources and expenditures detailing the line-item expenditures;

(ii) The number of accounts entered into during the previous fiscal year;

(iii) Efforts by the Chief Financial Officer in marketing the Program; and

(iv) Any recommendations of the Chief Financial Officer concerning the operation of the Program.

(2) The Chief Financial Officer shall make available to each account owner a copy of a summary of the report and the option to purchase the full report at a nominal charge.

(Mar. 31, 2001, D.C. Law 13-212, § 2(b), 47 DCR 9457; June 5, 2003, D.C. Law 14-307, § 2402(j), 49 DCR 11664; May 2, 2015, D.C. Law 20-271, § 267(c), 62 DCR 1884; Oct. 8, 2016, D.C. Law 21-160, § 7062, 63 DCR 10775.)

D.C. Law 14-307, in subsec. (b)(1), inserted “and the Advisory Board” after “Council”.

The 2015 amendment by D.C. Law 20-271 deleted “and the Advisory Board” following “to the Council” in (b)(1).

For temporary (90 day) amendment of section, see § 2402(j) of Fiscal Year 2003 Budget Support Amendment Emergency Act of 2002 (D.C. Act 14-544, December 4, 2002, 49 DCR 11700).

For temporary (90 day) amendment of section, see § 2402(j) of the Fiscal Year 2003 Budget Support Amendment Congressional Review Emergency Act of 2003 (D.C. Act 15-27, February 24, 2003, 50 DCR 2151).

For temporary (90 day) amendment of section, see § 2402(j) of Fiscal Year 2003 Budget Support Amendment Second Congressional Review Emergency Act of 2003 (D.C. Act 15-103, June 20, 2003, 50 DCR 5499).

For temporary (90 days) amendment of this section, see § 267(c) of the New Columbia Statehood Initiative, Omnibus Boards and Commissions, and Election Transition Reform Emergency Amendment Act of 2014 (D.C. Act 20-481, Nov. 18, 2014, 61 DCR 12133, 20 STAT 4405).

For temporary (90 days) amendment of this section, see § 267(c) of the New Columbia Statehood Initiative, Omnibus Boards and Commissions, and Election Transition Reform Congressional Review Emergency Amendment Act of 2015 (D.C. Act 21-7, Feb. 26, 2015, 62 DCR 2646, 21 STAT 807).