(2) The school district board or education service district board may contract for its audit with the administrative office for the county in which the administrative office of the school district or education service district is located. The administrative office for the county shall secure the services of accountants who shall audit the books and accounts of the districts and file with the administrative office for the county a statement setting forth the financial condition of each district. A copy of the audit report of the district shall be sent to the appropriate board of the district. Each district, upon receipt of billing from the administrative office for the county, shall pay its share of the audit costs.
(3) A school district board or an education service district board may contract with accountants to audit the books and accounts of the district.
(4) Accountants under contract as described in subsection (2) or (3) of this section must be selected from the roster of authorized municipal accountants maintained by the Oregon Board of Accountancy under ORS 297.670.
(5) The audit required by this section must include an audit of those factors that are used to compute the State School Fund distribution under ORS 327.011, 327.013 or 327.019. [1965 c.100 §64; 1975 c.770 §7; 1997 c.821 §22; 2003 c.226 §9; 2011 c.316 §1]
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