The Authority shall submit a proposed budget for each fiscal year to the President for inclusion in the annual budget for the District of Columbia under part D of title IV of the District of Columbia Home Rule Act not later than the May 1 prior to the first day of the fiscal year. In the case of the budget for fiscal year 1996, the Authority shall submit its proposed budget not later than July 15, 1995. The budget shall describe: Expenditures of the Authority by each object class, including expenditures for staff of the Authority; Services of personnel and other services provided by or on behalf of the Authority for which the Authority made no reimbursement; and Any gifts or bequests made to the Authority during the previous fiscal year. No amount may be obligated or expended by the Authority for a fiscal year (beginning with fiscal year 1996) unless such amount has been approved by Act of Congress, and then only according to such Act. As soon as practicable after the appointment of its members, the Authority shall submit to the Mayor and the President: A request for reprogramming of funds under subsection (c)(1) of this section; and A description of anticipated expenditures of the Authority for fiscal year 1995 (which shall be transmitted to Congress). The Mayor shall transfer funds previously appropriated to the District government for a fiscal year for auditing and consulting services to the Authority (in such amounts as are provided in the budget request of the Authority under subsection (a) of this section or, with respect to fiscal year 1995, the request submitted under subsection (b)(1) of this section) for the purpose of carrying out the Authority’s activities during the fiscal year. For provisions describing the sources of funds available for the operations of the Authority during a fiscal year (in addition to any interest earned on accounts of the Authority during the year), see § 47-392.04(b)(1)(A) (relating to the set-aside of amounts requisitioned from the Treasury by the Mayor) and § 47-392.13(b)(3) (relating to the use of interest accrued from amounts in a debt service reserve fund of the Authority). Notwithstanding any other provision of this act, the Authority may transfer or otherwise expend any amounts derived from interest earned on accounts held by the Authority on behalf of the District of Columbia for such purposes as it considers appropriate to promote the economic stability and management efficiency of the District government. Notwithstanding subsection (a)(3) of this section, any amounts transferred or otherwise expended pursuant to paragraph (1) of this subsection may be obligated or expended without approval by Act of Congress.
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