Oregon Department of Transportation

Rule Rule 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)

The Department, in cooperation with the Secretary of State, will conduct or cause to be conducted an annual independent financial and compliance audit of the OTIB’s operations. This audit may be conducted in accordance with the Single Audit Act of 1984. This audit will be completed within one year of the end of the state fiscal year.

(5)

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

Last accessed
Jun. 8, 2021