68th OREGON LEGISLATIVE ASSEMBLY--1995 Regular Session
NOTE: Matter within { + braces and plus signs + } in an
amended section is new. Matter within { - braces and minus
signs - } is existing law to be omitted. New sections are within
{ + braces and plus signs + } .
LC 2638
House Bill 2565
Sponsored by Representative SOWA
SUMMARY
The following summary is not prepared by the sponsors of the
measure and is not a part of the body thereof subject to
consideration by the Legislative Assembly. It is an editor's
brief statement of the essential features of the measure as
introduced.
Directs Secretary of State to oversee school district audits
either by performing audit or contracting for audit. Prohibits
use of same auditor for school district for more than two
consecutive years.
A BILL FOR AN ACT
Relating to school district audits; creating new provisions;
amending ORS 297.435 and 297.485; and repealing ORS 328.465.
Be It Enacted by the People of the State of Oregon:
SECTION 1. { + Section 2 of this Act is added to and made a
part of ORS 297.405 to 297.740. + }
SECTION 2. { + (1) Notwithstanding ORS 297.405 to 297.740, the
Secretary of State shall establish by rule procedures whereby the
Secretary of State oversees all audits of the financial condition
and financial affairs of school districts. Audits may be
performed by the Secretary of State or by auditors under contract
with the Secretary of State. However, the Secretary of State
shall not contract with the same auditor for a particular school
district for more than two consecutive years.
(2) One copy of the audit report shall be sent to the school
district and one to the Secretary of State.
(3) Cost of the audit shall be paid in the manner described in
ORS 297.425 (5). + }
SECTION 3. ORS 297.435 is amended to read:
297.435. (1) Subject to ORS 297.445, the provisions of ORS
297.425 shall not apply to any municipal corporation, except a
county { - or a school district - } , if, with respect to any
one calendar year or fiscal year, the municipal corporation meets
all the conditions in either subsection (2) or (3) of this
section.
(2)(a) Total receipts from all sources and expenditures for all
purposes, including money obtained from borrowing and money
expended for debt retirement, did not exceed $100,000 for the
year;
(b) The municipal corporation has submitted financial
statements for the year to the Secretary of State within 90 days
following the end of the year; and
(c) A certificate has been submitted with the financial
statements stating that the principal responsible official of the
municipal corporation was covered during the entire year by a
fidelity or faithful performance bond in an amount at least equal
to the total amount of money received by the municipal
corporation during the year.
(3)(a) Total receipts from all sources and expenditures for all
purposes, including money obtained from borrowing and money
expended for debt retirement, exceeded $100,000 but did not
exceed $500,000 for the year;
(b) The municipal corporation has submitted financial
statements for the year to the Secretary of State within 180 days
following the end of the year, and the financial statements have
been reviewed by an accountant or the Secretary of State in
accordance with standards prescribed by the Secretary of State;
and
(c) A certificate has been submitted with the financial
statements stating that the official responsible for receiving
and disbursing moneys on behalf of the municipal corporation was
covered during the entire year by a fidelity or faithful
performance bond in an amount at least equal to 10 percent of the
total receipts for the year, but not less than $10,000.
(4) The financial statements required by this section shall be
in a form prescribed by the Secretary of State and shall be
considered audit reports for the purpose of the filing fee
required by ORS 297.485.
(5) The provisions of ORS 297.466 apply to financial statements
for cities reviewed under subsection (3) of this section.
SECTION 4. ORS 297.485 is amended to read:
297.485. (1) At the time an audit report, prepared by an
accountant, is filed with the Secretary of State, as required by
ORS 297.465, the municipal corporation shall pay to the Secretary
of State a filing fee. The filing fee shall be determined by the
total expenditures made by the municipal corporation for any and
all purposes during the calendar or fiscal year audited, except
that expenditures for principal of bonded debt, principal of
short-term loans, principal of warrants redeemed which were
issued during prior audit periods, transfers or loans between
funds and turnovers of taxes or other trust moneys to other
municipal corporations shall not be included in the total
expenditures upon which the amount of the fee is based.
(2) The filing fee to be paid shall be as indicated for those
municipal corporations whose total expenditures fall within the
classifications as follows:
_________________________________________________________________
____NOTE_TO_GOPHER_CUSTOMERS:__________________________________
THE FOLLOWING TABULAR TEXT MAY BE IRREGULAR.
FOR COMPLETE INFORMATION PLEASE SEE THE PRINTED MEASURE.
_______________________________________________________________
Over Not Over Fee
____NOTE_TO_GOPHER_CUSTOMERS:__________________________________
THE FOLLOWING TABULAR TEXT MAY BE IRREGULAR.
FOR COMPLETE INFORMATION PLEASE SEE THE PRINTED MEASURE.
_______________________________________________________________
$20,000 10
____NOTE_TO_GOPHER_CUSTOMERS:__________________________________
THE FOLLOWING TABULAR TEXT MAY BE IRREGULAR.
FOR COMPLETE INFORMATION PLEASE SEE THE PRINTED MEASURE.
_______________________________________________________________
$20,000 50,000 30
50,000 100,000 40
100,000 200,000 50
200,000 350,000 70
350,000 500,000 90
500,000 1,000,000 120
1,000,000 5,000,000 160
5,000,000 200
_________________________________________________________________
____________________________________________________________
END OF POSSIBLE IRREGULAR TABULAR TEXT
____________________________________________________________
{ - (3) Audit reports filed by the administrative office of
the county, under ORS 328.465 (2), for school districts with less
than 1,000 children according to the latest school census in the
county, shall be considered one report for purposes of the filing
fee required by this section. The filing fee shall be paid by the
county administrative office and deducted pro rata from moneys
due to the several school districts. - }
SECTION 5. { + ORS 328.465 is repealed. + }
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