OAR 416-250-0070: Basic Accounting Records

(1) A service provider subject to audit under these rules will maintain a chart of accounts that defines all items included in determining the cost for each program. The chart of accounts will list all revenues and expense accounts. (2) The organization will have bank deposit records and documentation to verify the source of revenue. Revenue and expense accounts, with related asset, liability, and equity accounts, will account for all expenditures related to delivery of the program. (3) All basic accounting records will be retained for at least three years following the expiration of the contract or from the finalization of an audit including any appeal, whichever is later.