The proposed bill seeks to approve Contract No. CW123923 with CliftonLarsonAllen, LLP for audit services related to the District of Columbia's Annual Comprehensive Financial Report (ACFR) and the District of Columbia Housing Authority's (DCHA) Financial Statements, totaling $1,905,500 for a one-year period. This contract marks a significant program change as it includes auditing services for DCHA Financial Statements, which were not covered in previous contracts. The selection of CliftonLarsonAllen, LLP followed a competitive solicitation process, and the contract includes a subcontracting plan that allocates 35% of the contract value to a Certified Business Enterprise (CBE), ensuring compliance with local business development regulations.

Additionally, the bill outlines the requirements for independent audits and compliance reports for various agencies within the District, emphasizing the importance of transparency and accountability in financial operations. It mandates that the Mayor submit the ACFR to relevant authorities by February 1st each year and establishes a framework for ongoing oversight, including progress meetings and timely reporting of any significant findings. The bill also introduces new provisions regarding insurance requirements for contractors, a streamlined dispute resolution process, and updates to non-discrimination clauses to align with the District's Human Rights Act. Overall, the legislation aims to enhance financial oversight, support local economic development, and ensure compliance with established regulations.