The proposed bill seeks to approve Contract No. CW123923 with CliftonLarsonAllen, LLP for $1,905,500 to provide auditing services for the District of Columbia's Annual Comprehensive Financial Report (ACFR) and the District of Columbia Housing Authority (DCHA) Financial Statements. This contract, which is set for a one-year term, includes the DCHA Financial Statements Audit, a new addition not included in previous contracts. The selection process involved an open market solicitation, and CliftonLarsonAllen, LLP was awarded the contract based on their superior technical evaluation and pricing. The contractor plans to subcontract 35% of the contract value to a Certified Business Enterprise, F.S. Taylor & Associates, and the Office of the Inspector General has confirmed that funds are available for the fiscal year.

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 specifies that the Office of the Inspector General is responsible for contracting independent auditors. The bill also includes provisions for timely reporting, communication of findings, and the establishment of a structured audit management plan to ensure oversight throughout the auditing process. Overall, the bill aims to enhance financial management practices and ensure comprehensive auditing services for the District's financial entities.