OAR 123-089-0070: Audit Committee

Oregon InC has established an Audit and Accountability Committee (Audit Committee) that shall monitor the performance of larger projects from the Fund. The Audit Committee will typically provide oversight of any projects that receive funding of over $250,000 although oversight can be modified by the Council as needed. If an organization managing a project does not achieve its goals, the Department and Audit Committee will work with the organization to determine the cause(s) and identify action(s) to be taken to address the cause(s). If the action(s) are insufficient or unsuccessful, the Audit Committee can recommend to Oregon InC to reduce or eliminate funding or require funding be repurposed for a different activity. Oregon InC will evaluate the Audit Committee’s recommendation and either approve the recommendation and forward it to the Department or work with the Audit Committee and the Department to revise the recommendation. The Director will decide about any repurposing, reduction or elimination of funding. The Director’s decision is final.