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City considers new audit requirement guidelines
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McMinnville officials are considering a measure that will loosen their audit requirements for nonprofit groups seeking city funding. Alderman Everett Brock recommended two different audit requirements – nonprofits receiving smaller donations would be in the lower level and required to provide less financial information than organizations in the higher level, which would be required to provide more financial information. “We want to be able to have a balance sheet for a financial statement that applies to $5,000 and less or $10,000 and less,” said Brock.