A bill to increase the contractual authority of the Temporary Commission on Financial Oversight of the District of Columbia with respect to financial planning services and auditing services, and for other purposes.

Authorizes the Temporary Commission on Financial Oversight of the District of Columbia to enter into contracts with the Government of the District of Columbia with respect to financial planning services and auditing services. Removes the requirement that contracts negotiated for such purposes must be fixed price contracts.

Postpones the commencement of required annual fiscal year audits of the District of Columbia Government from fiscal year 1979 to fiscal year 1983. Extends the authorization for optional balance sheet audits of such government up through fiscal year 1982.