Salem, OR—The Audits Division of the Oregon Secretary of State’s Office released the annual Keeping Oregon Accountable report
today. The report summarizes the results of the Oregon Audits Division’s two largest annual audits: the audit of Oregon's financial statements, otherwise known as the Annual Comprehensive Financial Report, and a compliance audit of the state’s administration of federal programs, otherwise known as the Statewide Single Audit.
“These financial audits are critically important to ensuring our state is properly accounting for the resources entrusted to us by the taxpayers of Oregon and the federal government,” said Secretary of State Shemia Fagan. “While there were some steps identified for improvement, I am pleased that Oregon is managing these funds well because they are critical to services Oregonians count on most.”
Auditors identified $6.4 billion in accounting errors, all of which were identified as unintentional, and proposed steps to take to correct those errors. They issued a clean opinion of the state’s financial statements for fiscal year 2020. In addition, the division audited 14 federal programs at 11 agencies and issued 28 findings and recommendations. They questioned whether $5,115,844 in expenditures were appropriately paid with federal funds and issued a clean opinion on 13 of the audited programs, while issuing a qualified opinion for one program, suggesting improvements to the state’s Temporary Assistance for Needy Families program.
The Secretary of State Audits Division annually audits the State of Oregon’s financial statements and compliance with federal program requirements. The federal government requires these audits for the financial assistance Oregon receives annually. These audits determine whether amounts reported in Oregon’s financial statements are materially correct and adequately supported; evaluate the state’s administration of major federal programs for compliance with applicable laws, rules, and regulations; conclude on whether the Schedule of Expenditures of Federal Awards is fairly presented in relation to the state’s financial statements; and review accounting and compliance control procedures.
Read the full Keeping Oregon Accountable report on the Secretary of State's website: https://sos.oregon.gov/audits/Documents/2021-19.pd...