Or. Admin. Code § 162-040-0096

Current through Register Vol. 64, No. 1, January 1, 2025

Section 162-040-0096 - Management Representation of Fiscal Affairs

(1) Each report shall include inside the back cover a signed report of management's representation of the municipal corporation's compliance with its fiscal affairs. At a minimum, the report should include the representations in the following example:

(2) Management Representation of Fiscal Affairs The [name of entity] is subject to, and responsible for, compliance with various laws, rules, and regulations relating to its operation and finances. Among such laws, rules, and regulations are the requirements prescribed in Municipal Audit Law (ORS Chapter 297) and the Minimum Standards for Review of Oregon Municipal Corporations (OAR 162, division 40) including, but not limited to:

(a) Deposit of public funds with financial institutions (ORS Chapter 295).

(b) Indebtedness limitations, restrictions, and repayment.

(c) Budgets legally required (ORS Chapter 294).

(d) Insurance and fidelity bonds in force or required by law.

(e) Programs funded from outside sources.

(f) Highway revenues used for public highways and roads (ORS Chapters 294, 368 & 373).

(g) Authorized investment of surplus funds (ORS Chapter 294).

(h) Public contracts, purchasing, and improvements (ORS Chapters 279A, 279B, and 279C).

The management of [name of entity] is aware of the requirements of Oregon laws and administrative rules concerning each of the above requirements and has complied, in all material respects, with such requirements. Further, we are not aware of any violations or possible violations of laws, rules, or regulations, whose effects should be considered for disclosure in the financial statements or as a basis for recording a loss contingency.

________________________

Signature

_________________________ ____________________ _____________

Printed Name Title Date

Or. Admin. Code § 162-040-0096

AUDIT 1-2012, f. 2-9-12, cert. ef. 4-1-12; AUDIT 3-2015, f. & cert. ef. 8/19/2015; AUDIT 1-2023, amend filed 10/31/2023, effective 1/1/2024

Statutory/Other Authority: ORS 297

Statutes/Other Implemented: ORS 297.465