Oregon Statutes 294.333 – Basis of accounting used by municipal corporation; change of basis
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(1) A municipal corporation shall record its revenues and expenditures, on a fund by fund basis, using the cash basis, the modified accrual basis or the accrual basis of accounting, at the discretion of the municipal corporation.
Terms Used In Oregon Statutes 294.333
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
(2) The basis of accounting used by a municipal corporation must be used in the current year or period and in each succeeding year or period until the basis is changed in a subsequent budget.
(3) A change in a municipal corporation’s basis of accounting must be published as required under ORS § 294.438. [Formerly 294.445]
[Repealed by 1963 c.576 § 44]
[1963 c.576 § 6; 1973 c.61 § 1; 1979 c.310 § 2; 1997 c.308 § 6; 2001 c.135 § 32; renumbered 294.414 in 2011]