As a result of deliberations last week, the Council Office prepared this amendment. It recites the role of the Council as the oversight body and the role of the Controller as the Council’s chief agent in regard to implementing and managing the internal control policies. More importantly, it includes an annual reporting requirement from the Controller to the Council. According to this amendment, the report must assess the effectiveness of the internal control system and identify any areas of concern for review by the Council

Note: This amendment was subject to a friendly amendment which added the phrase “, in November or December."

• ERA for Tax Abatement