Today, the Secretary of State Audits Division released its annual “Keeping Oregon Accountable” report. This report summarizes the results of the division’s two largest annual audits: the audit of Oregon’s financial statements, otherwise known as the Comprehensive Annual Financial Report (CAFR), and a compliance audit of the state’s administration of federal programs, otherwise known as the Statewide Single Audit.
“State agencies are accountable to the citizens of Oregon for how they use public money,” said Secretary of State Bev Clarno. “Preparing accurate financial statements is a key responsibility for ensuring transparency and accountability, and providing decision makers and stakeholders with accurate financial information. Our auditors found no evidence of fraud, but there were accounting errors totaling $809 million, which calls for continued improvement in our process. Other states do a much better job of public accountability with their finances, and it is time that Oregon looks at making serious improvements to our level of transparency.”
The audits provide an independent professional opinion on the accuracy of the state’s financial statements and compliance with federal rules and are required for the state to receive over $11 billion in federal monies for important social, economic, and environmental programs in Oregon.
Read the full report and prior year summary reports on the Secretary of State website.