Revenue Estimates
Office of Revenue Analysis, which forecasts revenue for the District government, develops fiscal impact statements for proposed legislation, and performs tax expenditure analysis.
The Office of Revenue Analysis is responsible for forecasting revenue for the District government. Each February the OCFO issues the official binding revenue estimate that is used to develop the budget for the next fiscal year, which runs from October 1 to September 30. This estimate is then revised as the new fiscal year begins and at regular intervals afterward.
The "CAFR"
The Office of Financial Operations and Systems within the Office of the Chief Financial Officer (OCFO) is responsible for preparing the District's Comprehensive Annual Financial Report (CAFR). The OCFO ensures that the CAFR is released each year on time and with a clean opinion from the city's independent auditors. A clean opinion indicates that the District's financial books are in order, that the CAFR fairly presents the city's financials, and that the results of the city's fiscal year operations are in accordance with generally accepted accounting principles.
The District's fiscal year runs from October 1 to September 30. The CAFR must be issued by February 1 following the end of a fiscal year.
Annual Financial Reports
Office of Financial Operations and Systems, which brings accountability, discipline and integrity to the District's financial processes by ensuring that standardized accounting practices, procedures, systems, and internal controls are embedded throughout the District's financial operations; produces the Comprehensive Annual Financial Report; and administers the District's payroll and retirement systems.
