Saturday, August 30, 2014

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Saturday, August 30th, 2014

Mostly Cloudy
High Temperature: 85 °F
Low Temperature: 72 °F

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Administration and Finance

The Downtown BID's Administration and Finance Departments collect revenue, manage and control expenditures and oversee financial and administrative planning. The BID strives to attract and support a highly qualified staff for all BID programs and provide a safe and professional work environment for employees, clients and guests, while ensuring regulatory compliance and appropriate protections for the organization in all employment, corporate and contractual matters.

Through effective working relationships with key city officials, the Downtown BID is able to update information about downtown properties and establish realistic payments schedules and maintain a collection rate of over 98%.

The Downtown BID manages its financial assets and activities and that of subsidiary and affiliate corporations in a way that ensured financial stability. Established internal controls ensure adequate accounting data is available to prepare financial statements in conformity with General Accepted Accounting Principles (GAAP) and ensure compliance with expenditure limitations set by the Board of each entity.

Appropriate protections for the Downtown BID are executed and monitored, including adherence to financial and personnel policies and procedures, insurance, risk management, compliance, legal matters and contract reviews. The Downtown BID’s administers its service contract with the General Services Administration (GSA) and fosters partnerships with the DC Department of Employment Services (DOES) and other local workforce programs that assist DC residents. Board reporting, information technology and office management services, equipment and inventory, meetings support and other administrative activities are centralized for all programs.

Human resources services includes effective recruitment and employment functions, staff training and development, attractive benefits packages, competitive compensation structures and supportive employee relations for 150 staff members. Equal employment opportunity, sexual harassment prevention, Occupational Safety and Health Administration (OSHA), the Family and Medical Leave Act (FMLA) and other compliance programs help ensure a safe and professional work environment.

Administration also supports the BID’s internal Green Initiative by reducing use of products, converting information and communications to online processes and introducing variable scheduling to reduce the impact of commuting.