Audits

The City of Milwaukie prepares annual financial reports to communicate the financial position of the City at the end of its fiscal year (June 30) and the results of operations for the fiscal year (July 1 – June 30)

The financial statements are prepared in accordance with Generally Accepted Accounting Principles (GAAP). The statements and internal controls of the City are audited by independent auditors licensed by the State of Oregon. When audits are completed, the financial reports are posted on this web site for public review.

Sections 297.405 through 297.555 of the Oregon Revised Statutes cover municipal audit law. This program requires an annual financial statement audit of all municipal corporations. The Secretary of State Audits Division, in cooperation with the Board of Accountancy, and in consultation with the Oregon Society of CPAs, prescribes the minimum standards for the presentation of the report and the conduct of the audits.