ORS 328.465
Annual audit procedure


(1)

All school district boards and education service district boards shall cause to have prepared an annual audit of the books and accounts of the school district or education service district in the manner set forth in subsection (2) or (3) of this section. The audit reports must be filed with the administrative office for the county in which the administrative office of the district is located on or before November 1 of the year in which the audit is conducted.

(2)

The school district board or education service district board may contract for its audit with the administrative office for the county in which the administrative office of the school district or education service district is located. The administrative office for the county shall secure the services of accountants who shall audit the books and accounts of the districts and file with the administrative office for the county a statement setting forth the financial condition of each district. A copy of the audit report of the district shall be sent to the appropriate board of the district. Each district, upon receipt of billing from the administrative office for the county, shall pay its share of the audit costs.

(3)

A school district board or an education service district board may contract with accountants to audit the books and accounts of the district.

(4)

Accountants under contract as described in subsection (2) or (3) of this section must be selected from the roster of authorized municipal accountants maintained by the Oregon Board of Accountancy under ORS 297.670 (Board of Accountancy to prepare and maintain roster).

(5)

The audit required by this section must include an audit of those factors that are used to compute the State School Fund distribution under ORS 327.011 (Description of Local Revenues for purpose of State School Fund distributions), 327.013 (State School Fund distribution computations for school districts) or 327.019 (State School Fund distribution computations for education service districts). [1965 c.100 §64; 1975 c.770 §7; 1997 c.821 §22; 2003 c.226 §9; 2011 c.316 §1]

Source: Section 328.465 — Annual audit procedure, https://www.­oregonlegislature.­gov/bills_laws/ors/ors328.­html.

328.001
Definitions for chapter
328.005
County school fund
328.015
Apportionment to districts
328.030
Partial apportionments
328.045
Apportionment of excess amounts
328.105
Sources
328.110
Custodian of fund
328.115
Loan of fund and rental of lands
328.120
Board of Douglas County School Fund commissioners
328.125
Law concerning Common School Fund to apply
328.130
Loans to be made in name of treasurer
328.135
Fees for services of county officers
328.140
Sale, rental or lease of property
328.155
Sources
328.160
Custodian of fund
328.165
Investment and loan of fund and rental of lands
328.170
Directors as fund commissioners
328.175
Laws governing loans of Common School Fund to apply
328.180
Loans to be made in name of clerk
328.185
Fees for services of clerk
328.190
Sale and conveyance of property
328.205
Power to contract bonded indebtedness
328.210
Bond elections
328.213
Issuance of negotiable interest-bearing warrants
328.230
Issuance of bonds upon favorable vote
328.240
Place of payment
328.245
Limitation on bonded debt of districts generally
328.250
Limitation on bonded indebtedness of enlarged or reorganized school districts
328.255
Registration of bonds and negotiable interest-bearing warrants
328.260
Tax levy to pay interest and principal of bonds
328.265
School district bond tax levied by county
328.270
Payment of principal and interest
328.275
Redemption and payment of bonds
328.280
Funding or refunding district indebtedness
328.284
Funds diversion agreement related to payment on revenue bonds
328.295
Issuance of bonds and interest-bearing warrants
328.300
Marketing bonds jointly or through association
328.304
County education bond district
328.316
Impact aid revenue bonds
328.318
Funds required for impact aid revenue bonds
328.321
Definitions for ORS 328.321 to 328.356
328.326
State guaranty of school bonds allowed
328.331
Certificate evidencing qualification for state guaranty
328.336
Determination of ineligibility
328.341
Transfer by school districts or State Treasurer of moneys to pay debt service on school bonds
328.346
Recovery from school districts of payments on school bonds by State Treasurer
328.348
Security for school bond obligations
328.351
Powers of State Treasurer when state funds are insufficient for payment of debt service
328.356
State Treasurer subject to provisions regarding issuance of general obligation bonds
328.361
Short title
328.441
Custody and disbursement of school district funds
328.445
Disbursement of school funds by check or warrant
328.450
School warrant procedure
328.460
Cancellation of school warrants not presented for payment within seven years
328.465
Annual audit procedure
328.467
Audit determinations
328.470
Purchase of automotive equipment
328.542
Preparation of district budget
328.555
Property liable for district indebtedness
328.565
Power to create indebtedness
328.570
Division of district into tax zones
328.573
Notice of public hearing on tax zones
328.576
Public hearing
328.579
Determination of tax in zones
Green check means up to date. Up to date