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Local Agencies' Use of Highway Funds _ - ~ . <br /> Performance Audit <br /> OVERVIEW .(Continued) ~ <br /> E. Procedures. Used by the Audits Division to Review Audit Reports for Compliance <br /> <br /> • With the Minimum Standards - for. Audits ~ of Oregon ~ Municipal :'Corporations. <br /> _ <br /> the omission, ~ by the independent auditors, Hof certain disclosures required to be made <br /> by them in municipal corporation audit:reports: : - <br /> The work performed,by the. Audits Division provides assurance to interested parties that <br /> an independent organization has reviewed cities' and counties' compliance with~cetain <br /> -statutory and ~ regulatory requirements:: - The ~ Audits` Division ' requests` the ~ entities <br /> develop an action plan to correct non=compliance issues identified by their review. The <br /> work also assures that the financial statements are ~ prepared in accordance "-with <br /> generally accepted accounting principles. ~ - ~ t:. - <br /> F. Auditors' Compliance Findings Required by OAR 162-10-295 ~ - <br /> Oregon Administrative Ruling 162-10-295 requires:the independent.public accountant <br /> comment on cities' or counties' compliance with Article : IX, Section 3a of the <br /> Constitution and, as they pertain to State Highway Fund monies, Oregon Revised <br /> Statutes 294, 368 and 373. _ We reviewed one hundred ninety-four city .and .thirty-four <br /> county reports filed with the Secretary of State Audits Division to determine the <br /> independent public accountants' findings relative to compliance with OAR 162-10-295. <br /> Reports for sixteen cities and two counties were not available. for, review as the Audits <br /> Division had approved an extension of time for the filing. For the two hundred twenty- <br /> eight reports reviewed, compliance exceptions noted by the independent public <br /> accountants were as follows: <br /> 1. Three cities had accumulated State Highway Fund monies in excess of two <br /> years without the approval of the Department of Transportation Chief <br /> Engineer. <br /> 2. One city had transferred State Highway Fund monies to the general fund <br /> without adequate documentation. <br /> Talbot, Korvola & Warwick, u~ ~ 2 <br /> <br />