The bill proposes significant amendments to existing legislation concerning the management and oversight of financial practices within the Office of the Chief Financial Officer (OCFO) of the District of Columbia. Key insertions include new provisions that emphasize the importance of transparency and accountability, mandating regular audits and the establishment of a confidential hotline for reporting misconduct, fraud, waste, and abuse. This hotline will be accessible 24/7 and allows for anonymous reporting, encouraging individuals to voice concerns without fear of retaliation. The bill also outlines specific expectations for OCFO employees regarding conflicts of interest and establishes a zero-tolerance policy for fraud and misconduct.

In addition to these insertions, the bill seeks to delete outdated provisions that may no longer align with current practices, thereby streamlining the legal framework governing the OCFO. This includes the removal of language that could hinder effective oversight and compliance with contracting rules. Overall, the proposed changes aim to enhance the integrity of financial management within the OCFO, ensuring that public funds are handled responsibly and that employees adhere to high ethical standards.