Oregon Statutes - Chapter 182 - State Administrative Agencies - Section 182.462 - Budgets for semi-independent state agencies; annual financial statements; disposition of civil penalties; rules.

(1) A board shall adopt budgets on a biennial basis using classifications of expenditures and revenues required by ORS 291.206 (1), but the budget shall not be subject to review and approval by the Legislative Assembly or to future modification by the Emergency Board or the Legislative Assembly.

(2) The budget referred to in subsection (1) of this section shall be adopted in accordance with applicable provisions of ORS chapter 183. Except as provided in this subsection, a board shall adopt or modify a budget only after a public hearing thereon. A board must give notice of the hearing to all holders of licenses issued by the board.

(3) A board shall follow generally accepted accounting principles and keep financial and statistical information as necessary to completely and accurately disclose the financial condition and financial operations of the board as may be required by the Secretary of State.

(4) A board shall prepare an annual financial statement of board revenues and expenses and shall make the statement available for public review. The board shall provide a copy of the statement to the Oregon Department of Administrative Services not later than the 90th day after the end of the state fiscal year.

(5) A board may, by rule, elect to donate all or part of the revenue derived by the board from civil penalties to the General Fund of the State Treasury. [1999 c.1084 §6]

Note: See note under 182.454.

Section:  Previous  182.440  182.450  182.451  182.452  182.454  182.456  182.460  182.462  182.464  182.466  182.468  182.470  182.472  182.500  182.510  Next

Last modified: August 7, 2008