financial duties of the mayor

financial duties of the mayor Sec. 448. Subject to the limitations in section 603, the Mayor shall have charge of the administration of the financial affairs of the District and to that end he shall— (1) supervise and be responsible for all financial transactions to insure adequate control of revenues and resources and to insure that appropriations are not exceeded; (2) maintain systems of accounting and internal control designed to provide— (A) full disclosure of the financial results of the District government’s activities, (B) adequate financial information needed by the District government for management purposes. (C) effective control over and accountability for all funds, property, and other assets, . (D) reliable accounting results to serve as the basis for preparing and supporting agency budget requests and con-trolling the execution of the budget; 87 Stat. 802 (3) submit to the Council a financial statement in any detail and at such times as the Connell may specify; (4) submit to the Council, by November 1 of each fiscal year, a complete financial statement and report for the preceding fiscal year; (5) supervise and be responsible for the assessment of all property subject to assessment and special assessments within the corporate limits of the District for taxation, prepare tax maps, and give such notice of taxes and special assessments, as may be required by law; (6) supervise and be responsible for the levying and collection of all taxes, special assessments, license fees, and other revenues of the District, as required by law, and receive all moneys receivable by the District from the Federal Government or from any court, agency, or instrumentality of the District ; (7) have custody of all public funds belonging to or under the control of the District, or any agency of the District, government, and deposit all funds coming into his hands, in such depositories as may be designated and under such terms and conditions as may be prescribed by act of the Council ; (8) have custody of all investments and invested funds of the District government, or in possession of such government in a fiduciary capacity, and have the safekeeping of all bonds and notes of the District and the receipt and delivery of District bonds and notes for transfer, registration or exchange; and (9) apportion the total of all appropriations and funds made available during the fiscal year for obligation so as to prevent obligation or expenditure thereof in a manner which would indicate a necessity for deficiency or supplemental appropriations for such fiscal year, and with respect to all appropriations or funds not limited to a definite, period, and all authorizations to create obligations by contract in advance of appropriations, apportion the total of such appropriations or funds or authorizations so as to achieve the most effective and economical use thereof.