Title 28, Public Financial Administration

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 county and shall keep a permanent record thereof. The commission shall issue a statement thereof as of June 30…

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 auditor under ORS 297.425, or a copy of the financial statements submitted to the Secretary of State under ORS 297.435, as s…

(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 respective county. (2) Notwithstanding ORS 294.495 (2), the commission may prescribe such rules and regulations as a…

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 discussing problems common to two or more municipal corporations under the jurisdiction of the commission, including long range finan…

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 or for any other or different purpose or purposes than is authorized by law, the commission shall certify to the district attorne…

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 and all other information pertaining to the administration of government in the county and to the expenditures and conservation of publ…

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.

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 proceedings in any court in this state. The Attorney General shall receive compensation for any services rendered in such capacity. [Amend…

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 the district attorney. Any proceedings against a municipal corporation shall be taken against the municipal corporation, as such, and the penalty…

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.

(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 State University Population Research Center, may establish, with the approval of a majority of its electors voting on the …

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 Trust Fund less the amount of unemployment benefits paid by the Employment Department on behalf of the political subdivis…

(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 of such fund and the fund shall consist of: (a) All moneys received from political subdivisions under the provisions of ORS…

(1) A political subdivision shall pay into the Local Government Employer Benefit Trust Fund an amount equal to the percentage rate of the political subdivision, as determined under subsections (2) to (5) of this section, multiplied by the gross wages the political subdivision pay…

(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 the department has made all payments to the Unemployment Compensation Trust Fund required to be made on behalf of th…

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 and report the results of the investigation to the legislature at least 30 days prior to t…

(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 (1) of this section, all units of government who are parties to an agreement to form a political subdivi…

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 to all remedies for the collection of delinquent taxes provided in ORS chapter 657. [1977 c.491 §10] LOCAL AND TRIBAL GO…

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 ORS 293.706. (3) “Funds” means funds under the control or in the custody of any local government official or tribal government of…

(1)(a) Subject to paragraph (b) of this subsection, with the consent of the governing body, a local government official or tribal government official may place in the aggregate up to $30 million of the funds of the local government or tribal government in the investment pool, or,…

Subject to the right of the unit of local government or the tribal government to specify the period in which its funds may be held in the investment pool for investment and reinvestment, the investment officer by rule shall prescribe the time periods for investments in the invest…

If the State Treasurer and the Oregon Investment Council terminate the operation of all investment pools created under ORS 293.863, public bodies may establish by written agreement under ORS chapter 190 one or more pools for the investment of proceeds for the purposes identified …

(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 authorized or required by law and, consistent with law, by the council. (2) The bond of the State Treasurer required from t…

(1) The investment officer shall seek to obtain a competitive return on investments of the investment pool subject to the standards set forth in ORS 294.835 and consistent with the liquidity requirements demanded by the short term nature of local government and tribal government …

(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 be exercised the judgment and care under the circumstances then prevailing, which individuals of prudence, discreti…

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 the investment and reinvestment of moneys in the investment pool and the acquisition, retention, management and disposition of …

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 in the investment pool and acquire, retain, manage, including exercise of any voting rights, and dispose o…

In making investments pursuant to ORS 294.805 to 294.895, the investment officer may not: (1) Make a commitment to invest funds or sell securities more than 14 business days prior to the anticipated date of settlement of the purchase or sale transaction; (2) Enter into any agreem…

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 lieu of the investment officer, to perform the functions specified in ORS 294.845 to the extent provided in the contract.…

(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 copy of the written opinion of a reputable bond attorney or attorneys, or the written opinion of the Attorney G…

(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 custody of the investment officer. The investment officer may deposit with one or more custodial agents or banks those instruments of …

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 investment pool. Amounts so deducted shall pay the State Treasurer for expenses of the State Treasurer as investment officer and to the ext…

(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 and the totals of all investments of its moneys in the investment pool. (2) The investment officer shall report monthly to …

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 Short Term Fund Board a report of the investments made during the preceding month. The report shall include a detailed summary of investmen…

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, public bodies that are investors in the pool, the Legislative Assembly and the Oregon Short Term Fund Board at least once a ye…

(1) It is recognized that a time may come when the interest of local governments and tribal governments diminishes to the extent that participation in the investment pool no longer warrants its operation as a separate fund. If the investment pool decreases to a level below $125 m…

(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 designated representative. Three members, who are qualified by training and experience in the field of investment or finance and who d…

(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, for a term and with the powers and duties necessary for the performance of the functions of the office as the board shall determine. [1…

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 in the investment of moneys deposited in the Oregon Short Term Fund established under ORS 293.728 and invested pursuant to ORS …

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 190.003 to 190.130, which does not act under the direction and control of any single member government and does provid…

(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 the members of the governing body of the council of governments and an equal number of representatives of the services prov…

(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 be prepared by organizational unit or by program. (3) Estimates required by subsection (1) of this section and prepared…

(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, notice of the meeting shall be published in a newspaper of general circulation within each county represented by the council of governments. The noti…

(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 days and not more than 14 days prior to the meeting held as required by subsection (1) of this section, notice of the meeting shall be p…

(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 which the regular budget has been prepared under one or more of the following circumstances: (a) An occurrence or …

(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 councils of governments as the department exercises under ORS 294.495 to 294.510 with regard to municipal corporations. (2) E…