The Oregon Municipal Audit Law requires a financial audit and examination be made of the accounts and financial affairs of every municipal corporation at least once a year. The City prepares a Comprehensive Annual Financial Report (CAFR) that is audited by an independent auditing firm. The City has received the Certificate of Achievement for Excellence in Financial Reporting award from the Government Finance Officers Association (GFOA) every year since its fiscal year 1991-92 audit.
These are the policies the City follows in managing its financial, operational, and budgetary affairs. They are general policy statements representing long-standing principles, traditions, and practices that have guided the General Policies.
The Lake Oswego Redevelopment Agency (LORA) is a component unit of the City of Lake Oswego and prepares separate annual reports.