Bill Text: OR SB291 | 2013 | Regular Session | Introduced
Bill Title: Relating to state financial administration; declaring an emergency.
Spectrum: Partisan Bill (Republican 1-0)
Status: (Failed) 2013-07-08 - In committee upon adjournment. [SB291 Detail]
Download: Oregon-2013-SB291-Introduced.html
77th OREGON LEGISLATIVE ASSEMBLY--2013 Regular Session
NOTE: Matter within { + braces and plus signs + } in an
amended section is new. Matter within { - braces and minus
signs - } is existing law to be omitted. New sections are within
{ + braces and plus signs + } .
LC 1819
Senate Bill 291
Sponsored by Senator BOQUIST (Presession filed.)
SUMMARY
The following summary is not prepared by the sponsors of the
measure and is not a part of the body thereof subject to
consideration by the Legislative Assembly. It is an editor's
brief statement of the essential features of the measure as
introduced.
Establishes Oregon Other Funds Reserve Fund. Transfers portion
of June 30, 2013, ending balance from dedicated or continuously
appropriated other funds accounts or funds to reserve fund.
Transfers interest from reserve fund to State School Fund.
Specifies circumstances under which amounts transferred to
reserve fund may be modified or appropriated.
Directs state agencies to follow generally accepted accounting
practices relating to fund balance reporting and governmental
fund type definitions.
Declares emergency, effective July 1, 2013.
A BILL FOR AN ACT
Relating to state financial administration; and declaring an
emergency.
Be It Enacted by the People of the State of Oregon:
SECTION 1. { + (1) The Oregon Other Funds Reserve Fund is
established in the State Treasury, separate and distinct from the
General Fund. Except as provided in subsection (2) of this
section, interest earned by the Oregon Other Funds Reserve Fund
shall be credited to the fund.
(2) On July 1 of each calendar year, the Oregon Department of
Administrative Services shall calculate the amount of interest
that is attributable to moneys in the Oregon Other Funds Reserve
Fund as of that date. The department shall transfer the amount
calculated under this subsection from the reserve fund to the
State School Fund established by ORS 327.008.
(3) The department shall maintain a record of the amounts each
state agency transfers to the reserve fund under section 2 of
this 2013 Act.
(4) The Legislative Assembly may appropriate moneys from the
Oregon Other Funds Reserve Fund for any purpose if the
appropriation is approved by three-fifths of the members serving
in each house of the Legislative Assembly.
(5) As used in this section, 'state agency' has the meaning
given that term in ORS 291.322. + }
SECTION 2. { + (1) Subject to subsections (2) and (3) of this
section, on July 1, 2013, or the next business day following
adjournment sine die of the regular session of the
Seventy-seventh Legislative Assembly, whichever is later, each
state agency administering an other funds account shall transfer
from the ending balance of the account on June 30, 2013, to the
Oregon Other Funds Reserve Fund an amount equal to any difference
between:
(a) The ending balance of the other funds account on June 30,
2013; and
(b) The amount the agency is authorized by the Legislative
Assembly to spend from the other funds account for the biennium
beginning on July 1, 2013, plus 12.5 percent of that amount.
(2) Subsection (1) of this section applies only if the ending
balance of the other funds account on June 30, 2013, is greater
than the amount the agency is authorized by the Legislative
Assembly to spend from the other funds account for the biennium
beginning on July 1, 2013, plus 12.5 percent of that amount.
(3) Upon request of a state agency, the Emergency Board may,
for the biennium beginning July 1, 2013, authorize a state agency
to retain in an other funds account an amount that exceeds the
amount the agency may retain in the account under subsection (1)
of this section.
(4) For purposes of Article III, section 3 (1)(b), of the
Oregon Constitution, and ORS 291.326 (1)(b), the amount a state
agency may retain under this section in an other funds account is
considered to be part of the budget of the agency as approved in
accordance with law.
(5) Subsections (1) to (4) of this section do not apply to:
(a) Funds or accounts that receive moneys appropriated from the
General Fund;
(b) Funds or accounts established by the Oregon Constitution or
whose expenditures are limited or otherwise directed by
provisions of the Oregon Constitution;
(c) Federal funds or lottery funds deposited in any fund or
account that includes dedicated or continuously appropriated
moneys; or
(d) Dedicated or continuously appropriated moneys in an other
funds account that are authorized by law to be expended without
limitation.
(6) As used in this section:
(a) 'Other funds account' means a statutory fund or account
that includes fees, moneys or other revenues, including
Miscellaneous Receipts, but excluding lottery funds and federal
funds, collected or received by a state agency that are dedicated
or continuously appropriated to the agency by statute for the
uses and purposes of the agency.
(b) 'State agency' has the meaning given that term in ORS
291.322. + }
SECTION 3. { + The Oregon Department of Administrative
Services shall make the first transfer to the State School Fund
under section 1 (2) of this 2013 Act on July 1, 2014. + }
SECTION 4. { + (1) As used in this section, 'state agency' has
the meaning given that term in ORS 291.322.
(2) For purposes of sections 1 and 2 of this 2013 Act and for
any other financial reporting required by law, a state agency
shall follow generally accepted accounting practices regarding
fund balance reporting and governmental fund type definitions. In
determining the content of generally accepted accounting
practices, state agencies shall consider statements adopted by
the Governmental Accounting Standards Board. + }
SECTION 5. { + This 2013 Act being necessary for the immediate
preservation of the public peace, health and safety, an emergency
is declared to exist, and this 2013 Act takes effect July 1,
2013. + }
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