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. + } ----------