Or. Admin. Code § 731-030-0130 - Accounting, Reporting and Auditing Requirements

(1) The Department will maintain an accounting system for the Infrastructure Fund that complies with generally accepted accounting principles and practices.

(2) A Recipient must separately account for all moneys received from the Infrastructure Fund in project accounts in accordance with generally accepted accounting standards. The Department reserves the right to audit, monitor or otherwise review all project records.

(3) The Department will compile an annual report on the OTIB and make it available to Recipients no later than 90 days after the end of the federal fiscal year. The report will identify that year's Recipients, the amounts, terms and conditions of the Infrastructure Loans and Infrastructure Assistance awarded and project categories.

(4) A Recipient must observe the requirements of state law, if applicable, for retaining and disposing of records.

Notes

Or. Admin. Code § 731-030-0130

DOT 1-1997, f. & cert. ef. 1-17-97; DOT 7-2004, f. & cert. ef. 11-17-04; DOT 3-2012, f. & cert. ef. 6-27-12; DOT 9-2022, amend filed 09/22/2022, effective 9/22/2022

Statutory/Other Authority: ORS 184.619, 367.015 & 367.020

Statutes/Other Implemented: ORS 367.010 - 367.060 & US Code, PL 104-59 & Sect. 350