Oregon Statutes - Chapter 294 - County and Municipal Financial Administration

294.004 Definitions.
For the purposes of this chapter, unless the context requires otherwise: (1) �Local government� means any county, municipality, political subdivision or school district. (2) �Custodial...
294.005 Definitions for ORS 294.005 to 294.025.
As used in ORS 294.005 to 294.025, unless the context requires otherwise: (1) �Warrant� means a warrant issued by a subdivision. (2) �Subdivision� means any...
294.010 Surrender of warrants upon payment.
Subject to ORS 294.015, no warrant issued by a subdivision shall be paid unless such warrant is surrendered and delivered to the officer charged with...
294.015 Payment on lost, stolen or destroyed warrants upon affidavit of owner, payee or representative.
A warrant may be paid without surrender or delivery thereof if the one claiming to be the lawful owner of the warrant: (1) Satisfies the...
294.020 [Repealed by 1979 c.763 §7]
294.025 Effect of wrongful payment; liability of officer.
When any warrant is paid, other than as authorized by ORS 294.005 to 294.025, such wrongful payment does not relieve the political body issuing the...
294.027 Provisions relating to warrants and payment of claims.
(1) In addition to any other provisions of law for the issuance and payment of warrants of any municipal or quasi-municipal corporation or civil subdivision...
294.028 Payment of warrants by depository.
When authorized by the governing body, any custodian of funds of any municipal or quasi-municipal corporation or civil subdivision of this state other than a...
294.029 Provisions of ORS 294.027 and 294.028 not mandatory.
Nothing contained in ORS 294.027 or 294.028 shall be deemed to require any municipal or quasi-municipal corporation or civil subdivision of this state or any...
294.030 Deductions for bonds from compensation of municipal and other employees; purchasing bonds in advance.
(1) The governing body of a municipal corporation, quasi-municipal corporation or civil subdivision of the state may, with the approval of the relevant employees of...
294.033 Investment of deferred compensation funds.
Funds set aside by any local government pursuant to a deferred compensation plan may be invested in any investment enumerated in ORS 294.035 and are...
294.035 Investment of surplus funds of political subdivisions; approved investments.
(1) Subject to ORS 294.040 and 294.135 to 294.155, the custodial officer may invest any sinking fund, bond fund or surplus funds in the custody...
294.040 Restriction on investments under ORS 294.035.
The bonds listed in ORS 294.035 (3)(a) to (c) may be purchased only if there has been no default in payment of either the principal...
294.045 [Amended by 1959 c.224 §1; 1973 c.157 §2; repealed by 1975 c.359 §7]
294.046 List of approved securities for investment under ORS 294.035; distribution.
The State Treasurer shall prepare and keep current a list of agencies and instrumentalities of the United States with available obligations that any county, municipality,...
294.047 Loss of principal on liquidation of investments.
Whenever the custodial officer is forced to liquidate investments made pursuant to ORS 294.035 and 294.040 to meet current cash demands and such liquidation results...
294.048 Borrowing money when premature withdrawal or liquidation of certain investments would cause loss.
When funds invested under ORS 294.035 (3)(d) are required to meet current cash demands and when withdrawal or liquidation of such investments at the time...
294.050 County borrowing money from county general road fund.
The county court or board of county commissioners may borrow money from the general road fund of the county to supplement depleted election accounts within...
294.052 Definitions; investment by municipality of proceeds of bonds.
(1) As used in this section: (a) �Bond� has the meaning given that term in ORS 287A.001. (b) �Municipality� means a unit of local government...
294.053 Investment by county in master warrants of county.
A county treasurer may invest any sinking fund, bond fund or surplus of funds in the custody of the county treasurer in master warrants of...
294.055 Use by counties of moneys received from federal government under the Mineral Leasing Act.
All funds received from the United States Government under the Mineral Leasing Act and Acts amendatory thereof and distributed to counties pursuant to ORS 293.565...
294.060 Apportionment of moneys received by counties from federal forest reserves to road and school funds.
(1) The moneys received by each county under ORS 293.560 shall be divided 75 percent to the road fund and 25 percent to the school...
294.065 Use by counties of moneys received from federal government under the federal Flood Control Act.
All moneys received from the United States Government under the federal Flood Control Act, and Acts amendatory thereof and supplemental thereto, and distributed to counties...
294.070 Expenditure of Taylor Grazing Act funds; advisory board.
(1) Except for moneys required to be expended through the county general fund as required by subsection (5) of this section, all moneys paid to...
294.080 Disposition of interest earned on funds held by county treasurer.
(1) Except as provided in subsections (2) and (3) of this section, the county treasurer shall credit to the general fund of the county all...
294.085 Examining books and papers of county officers.
(1) The county court or board of county commissioners, while sitting for county business at the regular terms in January and July of each year,...
294.090 County orders and vouchers to be numbered to correspond to warrants drawn.
The county clerk and clerk of the county court shall number all orders and vouchers with numbers to correspond with warrants drawn.
294.095 Action or proceeding with respect to budget or levy; fiscal year with respect to which taken.
Wherever it is provided by law that any action or proceeding of any county, city, school district or other municipal corporation or body politic shall...
294.100 Public official expending money in excess of amount or for different purpose than provided by law unlawful; civil liability.
(1) It is unlawful for any public official to expend any moneys in excess of the amounts provided by law, or for any other or...
294.105 [Amended by 1963 c.9 §15; 1973 c.315 §1; repealed by 1983 c.537 §7]
294.110 [Repealed by 1953 c.306 §18]
294.115 [1953 c.655 §1; repealed by 1963 c.576 §44]
294.120 Use of facsimile signatures.
(1) When authorized to use facsimile signatures by the governing body of any county, city, district organized for public purposes or any other public corporation...
294.125 Investment of funds authorized by order of governing body; limitations.
(1) Subject to ORS 294.040 and 294.135 to 294.155, the custodial officer of any county, municipality, school district or other political subdivision of this state...
294.135 Investment maturity dates.
(1) An investment made by a custodial officer under ORS 294.035 (3)(a) to (f) and (h) to (j) or 294.125 may not exceed a maturity...
294.145 Prohibited conduct for custodial officer.
In making investments pursuant to ORS 294.035, the custodial officer shall not: (1) Make a commitment to invest funds or sell securities more than 14...
294.155 Annual audit report; monthly report.
(1) The custodial officer for a local government that holds and invests funds on behalf of another government unit shall at least once a year...
294.160 Opportunity for public comment on new fee or fee increase.
(1) The governing body of a city, county or other unit of local government shall provide an opportunity for interested persons to comment on the...
294.175 Definitions; county expenditures for assessment; determination of adequacy; certification of adequacy; appeal of denial of certification; effect of certification.
(1) As used in this section and ORS 294.178 to 294.187: (a) �Department� means the Department of Revenue. (b) �Expenditures� has the meaning given the...
294.178 Assessment grant to county; determination of grant amount.
(1) Before issuing any certificate under ORS 294.175, the Department of Revenue shall estimate the amount available in the County Assessment Function Funding Assistance Account...
294.181 Alternative method for certification.
(1) If, at a conference held pursuant to notice under ORS 294.175, it becomes apparent that a county will be unable to meet the level...
294.184 County Assessment Function Funding Assistance Account; sources; purpose.
(1) There is created under ORS 293.445 a suspense account to be known as the County Assessment Function Funding Assistance Account. The account shall consist...
294.187 County Assessment and Taxation Fund; sources; purpose.
(1) There is created in the county treasury of each county a fund to be known as the County Assessment and Taxation Fund. The fund...
294.205 [Amended by 1963 c.544 §13; repealed by 1971 c.267 §16]
294.210 [Amended by 1963 c.544 §14; repealed by 1971 c.267 §16]
294.215 [Repealed by 1971 c.267 §16]
294.220 [Repealed by 1971 c.267 §16]
294.225 [Repealed by 1971 c.267 §16]
294.230 [Amended by 1957 c.153 §1; 1959 c.243 §1; 1963 c.504 §1; 1983 c.310 §17; 1991 c.683 §2; repealed by 1999 c.654 §37]
294.235 [Amended by 1957 c.153 §2; repealed by 1999 c.654 §37]
294.240 [Amended by 1957 c.153 §3; repealed by 1999 c.654 §37]
294.245 [Amended by 1957 c.153 §4; repealed by 1999 c.654 §37]
294.250 Publication by county governing body of schedule of expenditures and statement of proceedings; manner of publication; notice.
(1) The county governing body of each county shall cause to be made out and published at the expense of the county by the last...
294.255 [Repealed by 1991 c.285 §2]
294.260 [Repealed by 1991 c.285 §2]
294.305 Sections constituting Local Budget Law.
ORS 294.305 to 294.565 shall be known as the Local Budget Law.
294.310 [Amended by 1959 c.262 §1; repealed by 1963 c.576 §44]
294.311 Definitions for ORS 294.305 to 294.565.
As used in ORS 294.305 to 294.565, unless the context requires otherwise: (1) �Accrual basis� means the recording of the financial effects on a municipal...
294.315 [Repealed by 1963 c.576 §44]
294.316 Application.
The provisions of ORS 294.305 to 294.565 do not apply to the following municipal corporations and entities: (1) Drainage districts organized under ORS chapter 547;...
294.320 [Repealed by 1963 c.576 §44]
294.321 Purposes.
The purposes of ORS 294.305 to 294.565 are: (1) To establish standard procedures for the preparation, presentation, administration and appraisal of budgets of municipal corporations;...
294.323 Budget period.
(1) A municipal corporation, by ordinance, resolution or charter, may provide that the budget and budget documents for the municipal corporation be prepared for a...
294.325 [Amended by 1961 c.397 §1; repealed by 1963 c.576 §44]
294.326 Compliance with Local Budget Law required prior to expenditure or tax certification; exceptions.
(1) Except as provided in subsections (3) to (11) of this section, it is unlawful for any municipal corporation to expend money or to certify...
294.330 [Repealed by 1963 c.576 §44]
294.331 Budget officer.
The governing body of each municipal corporation shall, unless otherwise provided by county or city charter, designate one person to serve as budget officer. The...
294.335 [Repealed by 1963 c.576 §44]
294.336 Budget committee.
(1) Except as provided in ORS 294.341, the governing body of each municipal corporation shall establish a budget committee in accordance with the provisions of...
294.340 [Repealed by 1963 c.576 §44]
294.341 Governing body of certain municipal corporations to be budget committee; exception.
(1) The governing body of each municipal corporation having a population exceeding 200,000 and that is located in a county having a tax supervising and...
294.345 [Amended by 1953 c.715 §2; 1955 c.250 §1; 1957 c.673 §3; repealed by 1963 c.576 §44]
294.347 [1953 c.715 §3; repealed by 1963 c.576 §44]
294.348 [1957 c.673 §2; repealed by 1963 c.576 §44]
294.350 [Amended by 1953 c.715 §2; 1957 c.673 §4; repealed by 1963 c.576 §44]
294.351 [1963 c.576 §8; 1965 c.451 §3; 1971 c.516 §1; 1979 c.310 §3; repealed by 1979 c.686 §2 (294.352 enacted in lieu of 294.351)]
294.352 Estimates of expenditures required; form and contents.
(1) Each municipal corporation shall prepare estimates of expenditures for the ensuing year or ensuing budget period. (2) The estimates required by subsection (1) of...
294.355 [Repealed by 1963 c.576 §44]
294.356 Preparation of estimates by school, education service and community college districts and by municipal corporations operating public utility or hospital.
(1) Each school district, each education service district and each community college district shall prepare its estimates of expenditures required by ORS 294.352 in accordance...
294.360 [Amended by 1957 c.673 §5; 1963 c.576 §22; renumbered 294.416]
294.361 Contents of estimate of budget resources.
(1) Each municipal corporation shall estimate in detail its budget resources for the ensuing year or ensuing budget period by funds and sources. (2) Budget...
294.363 [1971 c.516 §10; repealed by 1979 c.686 §10]
294.365 [Amended by 1957 c.310 §2; 1959 c.262 §2; 1961 c.299 §1; 1961 c.678 §1; 1963 c.576 §23; renumbered 294.421]
294.366 Reserving receipts from revenue-producing property or facility; deposit in special fund.
(1) Any port or dock commission may reserve any portion of the receipts from any revenue-producing property or facility. Any city may reserve any portion...
294.370 [Amended by 1961 c.678 §2; repealed by 1963 c.576 §44]
294.371 Estimate of unappropriated ending fund balance for each fund.
A municipal corporation may include in its budget an estimate of unappropriated ending fund balance for each fund, for use in the fiscal period following...
294.375 [Repealed by 1963 c.576 §44]
294.376 Expenditure and resource estimate sheets; made part of budget document.
(1) The sheet or sheets containing the estimate of expenditures shall also show in parallel columns the actual expenditures for the two fiscal years next...
294.380 [Amended by 1959 c.262 §3; repealed by 1963 c.576 §44]
294.381 Determination of estimated tax revenues.
(1) Each municipal corporation that has the power to levy an ad valorem property tax shall estimate, in the manner provided in this section, the...
294.385 [Repealed by 1963 c.576 §44]
294.386 Financial summary.
Each municipal corporation shall prepare a financial summary. The financial summary shall include: (1) A summary statement by funds showing the estimate of budget resources...
294.390 [Repealed by 1963 c.576 §44]
294.391 Budget message.
A budget message shall be prepared by or under the direction of the executive officer of the municipal corporation or, where no executive officer exists,...
294.395 [Repealed by 1963 c.576 §44]
294.396 Time of making budget message and document.
The budget message and budget document shall be prepared a sufficient length of time in advance to allow the adoption of the budget by the...
294.400 [Amended by 1953 c.40 §2; 1959 c.168 §1; repealed by 1963 c.576 §44]
294.401 Budget committee meeting; distribution of budget message and document; copies of document to be available.
(1) The budget committee shall hold one or more meetings for the following purposes: (a) Receiving the budget message and the budget document; and (b)...
294.405 [Repealed by 1953 c.306 §18]
294.406 Budget committee hearings; approval of budget document.
(1) The budget committee shall approve the budget document as submitted by the budget officer or the budget document as revised and prepared by the...
294.410 [Repealed by 1963 c.576 §44]
294.411 Submission of budget document to tax supervising and conservation commission in certain cases prior to publication and approval by budget committee.
(1) Each municipal corporation having a population not exceeding 200,000, located in a county having a tax supervising and conservation commission and not submitting its...
294.413 Format for notices and summaries.
Format for publication of notices and summaries required by ORS 294.416 shall be prescribed by the Department of Revenue. [1971 c.516 §9; 1983 c.549 §1;...
294.415 [Renumbered 294.425]
294.416 Publication of budget summary, financial summary, statement of accounting basis, and notices of meeting and availability of budget document.
Except as provided in ORS 294.418, there shall be published, as provided in ORS 294.421: (1) A summary of the budget as approved by the...
294.418 Alternative budget publication procedure.
In lieu of the publication requirements contained in ORS 294.416, a municipal corporation may elect to publish its budget as provided in this section. (1)...
294.420 [Renumbered 294.555]
294.421 Manner of publication; alternative requirements in certain cases.
(1) Subject to subsections (3) to (6) of this section, the summary of the budget document approved by the budget committee shall be published at...
294.425 Sufficiency of publication of budget documents; notice to governing body and assessor of publication error.
(1) When a notice, budget summary or other document is required to be published under any provision of ORS 294.305 to 294.565, publication of the...
294.430 Hearing by governing body on budget document as approved by budget committee; alternative procedure in certain cases.
(1) Except as provided in subsections (2) and (3) of this section, the governing body of a municipal corporation shall meet at the time and...
294.435 Governing body to adopt budget, make appropriations, declare and categorize property tax amount or rate; greater tax, encumbrance or expenditure limited; exception.
(1) After the public hearing provided for in ORS 294.430 (1) has been held, the governing body shall enact the proper ordinances or resolutions to...
294.437 Local option tax approved after adoption of budget; supplemental budget.
(1) Following the adoption of a budget under ORS 294.435 that does not include revenue from a proposed local option tax, if a municipal corporation...
294.440 School or community college district expending federal or state funds in emergency.
Whenever the board of directors of any school district or the board of education of any community college district has declared the existence of an...
294.443 Certain interest to be included in budget; method.
In the exercise of the authority granted by ORS 287A.180, 328.565 and 341.715, specific provision for interest must be contained in duly adopted budgets. However,...
294.445 Basis of accounting used by municipal corporation; change of basis.
(1) A municipal corporation shall record its revenues and expenditures, on a fund by fund basis, using either the cash basis, the modified accrual basis...
294.447 Inclusions in accrued revenues of school districts, education service districts, community college districts and community college service districts using accrual basis of accounting; State School Fund grant calculations.
(1) As used in this section �extended ADMw� means: (a) For a school district the district extended ADMw as calculated under ORS 327.013. (b) For...
294.450 Transfers of appropriations within fund or from one fund to another; appropriation of pass-through revenues.
Subject to the provisions contained in the charter of any city or county or in any law relating to municipal corporations: (1) Except as provided...
294.455 Authorization to expend or borrow moneys after destruction of property or natural disaster; authorization by chief executive officer to protect public health or safety.
If property has been involuntarily converted or destroyed during the current year or current budget period or if, as a result of civil disturbance, fire,...
294.460 Loans from one fund to another; commingling cash balances of funds.
(1) It shall be lawful to loan money from any fund to any other fund of the municipal corporation whenever the loan is authorized by...
294.465 [1963 c.576 §29; repealed by 1999 c.632 §30]
294.470 Internal service funds.
(1) A municipal corporation may establish by ordinance or resolution one or more internal service funds. The ordinance or resolution creating the fund shall set...
294.475 Elimination of unnecessary fund; disposition of balance.
Subject to the provisions contained in the charter of any city or county or in any law relating to municipal corporations, when the necessity for...
294.480 Supplemental budget in certain cases; no increase in property taxes permitted.
(1) Notwithstanding requirements as to estimates of and limitation on expenditures, the governing body of any municipal corporation may make a supplemental budget for the...
294.483 Supplemental budget not required in certain cases.
A municipal corporation is not required to adopt a supplemental budget to: (1) Expend during the current year or current budget period proceeds of the...
294.485 Tax certification contrary to law voidable by Oregon Tax Court; appeal procedure.
(1) Any ad valorem property tax made contrary to the provisions of ORS 294.305 to 294.565 or any other law relating to the making of...
294.490 Department of Revenue not to interfere with fiscal policy of municipal corporation.
The department�s authority pursuant to ORS 294.495 to 294.510 shall be limited to obtaining compliance with ORS 294.305 to 294.565 and shall not interfere in...
294.495 Department of Revenue to construe Local Budget Law; rules.
Notwithstanding ORS 294.695, the Department of Revenue shall: (1) Construe ORS 294.305 to 294.565 and any other law relating to the making of tax levies...
294.500 Declaratory ruling by Department of Revenue as to its rules under Local Budget Law.
The Department of Revenue may, on petition by 10 interested taxpayers or municipal corporation, issue a declaratory ruling with respect to the validity or applicability...
294.505 Division of Audits to issue notification of budgetary irregularities; Department of Revenue to advise municipal corporation of correct procedures.
(1) The Division of Audits created by ORS 297.020 shall notify the municipal corporation and Department of Revenue of any irregularities in the budget procedure...
294.510 Order for revision of budgetary procedures; enforcement.
(1) The Department of Revenue may order a municipal corporation to revise its budget procedures to conform with ORS 294.305 to 294.565 when irregularities in...
294.515 Appeal by municipal corporation from Department of Revenue order.
Any municipal corporation aggrieved by and directly affected by an order of the Department of Revenue relating to the preparation of budgets or the extension...
294.520 Priority of appeals under Local Budget Law.
The appeal filed with the Oregon Tax Court pursuant to ORS 294.485, 294.500 and 294.515 shall have priority over all other cases pending before the...
294.525 Reserve fund established without vote; review of need for reserve fund; unexpended balances; application to system development charges.
(1) Any municipal corporation, by ordinance or resolution of its governing body, may establish one or more reserve funds to hold moneys to be accumulated...
294.555 Filing copy of budget and certain documents with county assessor and Department of Revenue.
(1) On or before July 15 of each year, or upon such other date as the Department of Revenue shall designate, each civil subdivision in...
294.565 Failure to file copy of required budget, reports or other documents; effect.
If any city shall fail to file its documents or reports required by ORS 294.555 or 297.405 to 297.555 with the Department of Revenue or...
294.605 Definitions for ORS 294.605 to 294.705.
As used in ORS 294.605 to 294.705, unless the context otherwise requires: (1) �Commission� means the tax supervising and conservation commission. (2) �Commissioner� means a...
294.608 Populous counties; commission establishment or financial summary publication.
(1) The governing body of each county with a population of 500,000 or more inhabitants, based on the most recently available data published or officially...
294.610 Tax supervising and conservation commission; members; appointment; qualifications; term; removal; filling vacancies.
(1) A tax supervising and conservation commission shall consist of five members appointed by the Governor. The commissioners appointed shall be citizens of the United...
294.615 Oath of commissioner.
Before taking office each commissioner shall take and subscribe the following oath, before an officer qualified to administer oaths, in substantially the following form: ______________________________________________________________________________...
294.620 Office of commission; employment and compensation of assistants.
(1) The county court shall furnish an office in the county courthouse or other convenient place for the use of the commission, as is furnished...
294.625 Jurisdiction of commission.
The commission shall have jurisdiction over all municipal corporations in the county subject to the provisions of the Local Budget Law. If the territory of...
294.630 Tax supervising and conservation commission account.
There hereby is created an account to be known as the tax supervising and conservation commission account in the general fund of each county subject...
294.635 Submission of budget estimates by levying boards.
(1) In each county that has a tax supervising and conservation commission, the levying boards of all municipal corporations shall on or before May 15...
294.640 Hearing on budget.
Every levying board shall be entitled to a hearing by the commission upon the budget submitted by it. The commission shall set times and places...
294.645 Consideration of budget by commission; certifying objections or recommendations to levying board; procedure where municipality holds hearing in place of commission.
(1) After the hearings have been held the commission shall carefully consider the proposed budgets and shall by majority vote of the members of the...
294.650 Striking unauthorized items from budget; reducing total amount to within limits permitted by law and Constitution.
(1) If in the examination of any budget of any municipal corporation the commission finds that any item is an expenditure not authorized by law...
294.655 Hearing on special tax levies and bond issues proposed for elector approval.
The commission shall conduct public hearings on all special tax levies and bond issues proposed for elector approval by the levying boards. Any levying board...
294.660 Compiling information as to indebtedness; including in annual report.
The commission shall compile accurate statistical and other information as to bonded or other indebtedness within the county and of all municipal corporations within the...
294.665 Levying board to submit audit report or financial statements annually.
The levying board of each municipal corporation under the jurisdiction of the commission shall annually submit a copy of the full report of its independent...
294.670 Commission may inquire into management, books and systems; rules.
(1) The commission may inquire into the management, books of account and systems employed, of each municipal corporation, and of each department thereof within its...
294.675 Calling joint meetings of levying boards.
The commission may call joint meetings of the levying boards subject to ORS 294.605 to 294.705 and may require their attendance for the purpose of...
294.680 Certifying excessive or unauthorized expenditures to district attorney; action by district attorney.
If at any time the commission finds that any municipal corporation, or public official thereof, has expended any public money in excess of the amounts...
294.685 Annual report by commission.
A complete and comprehensive report of the budgets as presented by the several levying boards, as provided by ORS 294.635 to 294.650, and of any...
294.690 Records and files of commission open to public inspection.
The public shall have access to the records and files of the commission at the office of the commission at all times during office hours.
294.695 Attorney General as legal advisor and counsel to commission.
The Attorney General shall be the legal advisor and counsel of the commission and shall represent it in all suits and actions and other legal...
294.700 Proceedings to collect penalties.
The penalties provided for in ORS 294.990 (2) and (3) shall be recovered by actions at law instituted in the name of the commission by...
294.705 Tax supervising and conservation fund.
There is established the tax supervising and conservation commission fund in the county treasury. The fund shall consist of any penalties recovered under ORS 294.700.
294.710 Procedures for establishing commission; annual appropriations.
(1) Any county with a population of less than 500,000 inhabitants, based on the most recently available data published or officially provided by the Portland...
294.725 Definitions for ORS 294.725 to 294.755.
For the purposes of ORS 294.725 to 294.755: (1) �Account balance� means the amount a political subdivision has paid into the Local Government Employer Benefit...
294.730 Fund created; State Treasurer as custodian; use of moneys; distribution of earnings.
(1) There is created a Local Government Employer Benefit Trust Fund, separate and distinct from the General Fund. The State Treasurer shall be the custodian...
294.735 Payments to fund by political subdivisions; benefit cost rate determinations; effect of negative balance; refunds.
(1) A political subdivision shall pay into the Local Government Employer Benefit Trust Fund a percentage of the gross wages it pays to individuals in...
294.740 Refund of account balances; payment of deficits; erroneous benefit payments.
(1) The Employment Department shall refund to a political subdivision electing to cancel its request as provided by ORS 657.513 any account balance remaining after...
294.745 Analysis of fund receipts and expenditures; report to Legislative Assembly.
The Employment Department shall investigate the experience of political subdivision participation in operations of the fund, including the relationship of fund receipts to fund expenditures...
294.750 Experience and liability of successor political subdivisions; unpaid assessment.
(1) The experience and liabilities of a political subdivision that has ceased to exist shall be acquired by the successor political subdivision. (2) Notwithstanding subsection...
294.755 Payment on quarterly basis; remedies for collection.
Political subdivisions electing to participate in the Local Government Employer Benefit Trust Fund shall pay into the fund on a quarterly basis and are subject...
294.805 Definitions for ORS 294.805 to 294.895.
As used in ORS 294.805 to 294.895: (1) �Board� means the Oregon Short Term Fund Board. (2) �Council� means the Oregon Investment Council created under...
294.810 Local governments authorized to place limited funds in pool.
(1) With the consent of the governing body, a local government official may place in the aggregate up to $30 million of its funds in...
294.815 Period of investments; withdrawal of funds.
Subject to the right of the unit of local government to specify the period in which its funds may be held in the investment pool...
294.820 Establishment of investment pools by intergovernmental agreement; conditions; powers.
If the State Treasurer and the Oregon Investment Council terminate the operation of all investment pools created under ORS 293.824, public bodies, as defined in...
294.825 State Treasurer as investment officer; bond; employment of personnel; rules.
(1) The State Treasurer is the investment officer for the Oregon Investment Council and the investment pool, and shall perform functions in that capacity as...
294.830 [1973 c.748 §7; repealed by 1979 c.608 §2 (294.831 enacted in lieu of 294.830)]
294.831 Investment objective; limit on maturity dates.
(1) The local government investment pool shall seek to obtain a competitive return on investments subject to the standards set forth in ORS 294.835 and...
294.835 Standard of care; investment in certain stocks prohibited.
(1) In investing and reinvesting moneys in the investment pool and in acquiring, retaining, managing and disposing of investments of the investment pool there shall...
294.840 Investment policies; review; separate policies for individual public bodies.
Subject to the objective set forth in ORS 294.831 and the standards set forth in ORS 294.835, the Oregon Investment Council shall formulate policies for...
294.845 Investment officer to invest, reinvest pool funds.
In amounts available for investment purposes and subject to the policies formulated by the Oregon Investment Council, the investment officer shall invest and reinvest moneys...
294.847 Prohibited conduct for investment officer.
In making investments pursuant to ORS 294.805 to 294.895, the investment officer shall not: (1) Make a commitment to invest funds or sell securities more...
294.850 Contracts with persons to perform investment functions; compensation; bond.
The Oregon Investment Council may enter into contracts with one or more persons whom the council determines to be qualified, whereby the persons undertake, in...
294.855 Legal opinions; investment counseling services; mortgage services.
(1) In the acquisition or disposition of bonds with which approving legal opinions ordinarily are furnished, the investment officer may require an original or certified...
294.860 Custody of investment documents; collection of income; distribution to local governments; calculation and allocation of profit and loss; defaulted payments of principal and interest, collection, compromise.
(1) Except as provided in ORS 294.850 and this subsection, all instruments of title of all investments of the investment pool shall remain in the...
294.865 Monthly deductions from income received for payment of expenses.
The State Treasurer may deduct monthly a maximum of 0.435 basis points of the most recent market value of assets under the management of the...
294.870 Separate accounts for local governments; reports on investment changes and monthly financial statements required.
(1) The investment officer shall keep, for each public body with funds in the investment pool, a separate account, which shall record the individual amounts...
294.875 Monthly report of investments of pool funds; distribution.
Not later than 15 days after the last day of each month, the investment officer shall submit to the Oregon Investment Council and the Oregon...
294.880 Program examination and audit; report; distribution.
An examination and audit of the investment pool shall be made separately from the audit of the treasurer for submission to the Oregon Investment Council,...
294.882 Merger or subsequent separation of local government investment pool and state investment fund; preconditions.
(1) It is recognized that a time may come when the interest of local governments diminishes to the extent that participation in the local government...
294.885 Oregon Short Term Fund Board; members; appointment; term; vacancies.
(1) There is created the Oregon Short Term Fund Board consisting of seven members. (2) One member shall be the State Treasurer or the treasurer�s...
294.890 Board members serve without compensation; selection of chairperson.
(1) A member of the Oregon Short Term Fund Board shall serve without compensation. (2) The board shall select one of its members as chairperson,...
294.895 Board duties, generally.
The Oregon Short Term Fund Board shall: (1) Advise the Oregon Investment Council and the investment officer in the management of the investment pool and...
294.900 �Council of governments� defined.
As used in ORS 294.900 to 294.930, �council of governments� means an entity organized by units of local government under an intergovernmental agreement under ORS...
294.905 Budget committee; membership; term; vacancies; officers; meetings to be public.
(1) A council of governments shall establish a budget committee in accordance with the provisions of this section. (2) The budget committee shall consist of...
294.910 Estimates of expenditures; organization and format; matters to be included.
(1) Each council of governments shall prepare estimates of expenditures for the ensuing year. (2) The estimates required by subsection (1) of this section shall...
294.915 Notice of budget committee meeting; public availability of documents.
(1) Not less than eight days and not more than 14 days prior to the meeting of the budget committee of the council of governments,...
294.920 Hearing on budget document.
(1) Each council of governments shall hold a public hearing on the budget document as approved by the budget committee. (2) Not less than eight...
294.925 Supplemental budget; conditions; term; publication.
(1) Notwithstanding requirements as to estimates of and limitation on expenditures, any council of governments may make a supplemental budget for the fiscal year for...
294.930 Authority of Department of Revenue; budget records maintained by council of governments.
(1) The Department of Revenue shall exercise the same powers and authority with regard to councils of governments and the budgets and budget committees of...
294.950 County revenue sharing with cities.
(1) Subject to the limitation contained in subsection (3) of this section, a county may give, out of its general fund, moneys that are not...
294.960 Collection and disposition of amounts due counties.
Pursuant to ORS 293.250, a county may collect any moneys owed to the county pursuant to a judgment obtained under ORS 169.151. The county shall...
294.990 Penalties.
(1) Any officer willfully violating any of the provisions of ORS 51.340 shall, upon conviction thereof, be fined not more than $25 for each offense,...

Last modified: August 7, 2008