Establishment of the Initiative Implementation Monitoring Committee; duties.

(a) There is established an Initiative Implementation Monitoring Committee (“Committee”).

(b) The Committee shall advise the Mayor and the Council on the status of the implementation of the initiatives contained in the District’s Revised Fiscal Year 1996 Budget Request Act and the July 1995 recommendations of the Financial Responsibility and Management Assistance Authority.

(c) The Committee is authorized to meet weekly to review weekly reports on the implementation of budget initiatives from subordinate agency heads and the budget officers of independent agencies to facilitate the monitoring of spending initiatives.