(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
Notes
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
