ESTABLISHMENT OF HUD CHIEF FINANCIAL OFFICER.

SEC. 121. ESTABLISHMENT OF HUD CHIEF FINANCIAL OFFICER.Section 4 of the Department of Housing and Urban Development Act is amended by adding at the end the following new subsection: “(e) There shall be in the Department a Chief Financial Officer, designated by the Secretary, who shall— “(1) serve as the principal advisor to the Secretary on financial management; “(2) develop and maintain a financial management system for the Department (including accounting and related transaction systems, internal control systems, financial reporting systems, credit, and cash and debt management); “(3) supervise and coordinate all financial management activities and operations of the Department; “(4) assist in the financial execution of the Department’s budget in relation to actual expenditures and prepare timely performance reports for senior managers; and “(5) issue such policies and directives as may be necessary to carry out this section.”.