OR Secretary of State release - SALEM, OR — Wednesday, the Oregon Secretary of State’s Audits Division released the FY 2024 Summary of Financial Reporting for Oregon Municipalities, which found that 114 municipalities are still behind on filing their required financial reports. This full report also includes information about municipalities that filed extensions and any material or significant findings from the audits that were submitted.  “Oregonians rely on these reports to hold local governments accountable,” said Secretary of State Tobias Read. “When these reports aren’t submitted on time, the public loses faith in government’s ability to effectively steward public funds.”  Under Municipal Audit Law, Oregon’s municipalities are required to submit annual reports with key financial information to the Secretary of State’s Office. For most entities, this report must be a financial audit conducted by a certified public accountant; for other, smaller entities, they may self-report expenditure information.  The municipalities required to file reports include counties, cities, school districts, special districts, and public corporations subject to control by local governments.  Auditors noted that municipalities and auditing firms alike are still struggling with challenges in hiring and retaining qualified staff. Staffing and limited resources remained one of the most-commonly cited reasons for filing late audit reports.  There are limited mechanisms to enforce compliance. But there may be consequences for municipalities that are delinquent.  Entities that don’t file a report may jeopardize their ability to service debt, obtain new debt, comply with grant requirements, or obtain new grants. School districts may have state school funds withheld by the Oregon Department of Education. Special districts may be subject to dissolution if they don’t file reports for three consecutive years.  Read the full report on the Secretary of State website.