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Local Budgeting Manual, 150-504-420 - Oregon State Library - State ...

Local Budgeting Manual, 150-504-420 - Oregon State Library - State ...

Table of Contents

Table of Contents Introduction ......................................................................................................................................... 1 Chapter 1 The Budget Process: Who’s Involved? .............................................................................................3 Chapter 2 Formation, Dissolution, and Boundary Changes ........................................................................... 7 Chapter 3 The Budget Process: An Outline ....................................................................................................... 9 Chapter 4 Proposing the Budget ....................................................................................................................... 13 Chapter 5 Types of Funds .................................................................................................................................. 15 Chapter 6 The Budget Document ...................................................................................................................... 19 Chapter 7 Approving the Budget ...................................................................................................................... 29 Chapter 8 Publication Requirements ................................................................................................................ 33 Chapter 9 Estimated Property Taxes To Be Received .................................................................................... 37 Chapter 10 Types of Property Taxes ................................................................................................................... 41 Chapter 11 Tax Elections ...................................................................................................................................... 45 Chapter 12 Adopting the Budget ........................................................................................................................ 49 Chapter 13 Certifying Taxes Imposed ................................................................................................................ 55 Chapter 14 Budget Changes After Adoption .................................................................................................... 57 Chapter 15 Biennial Budgets ................................................................................................................................ 63 Appendix A: Glossary ..................................................................................................................... 67 Appendix B: Outline of Budget Process ...................................................................................... 71 Appendix C: Taxing Powers and Limitations of Local Governments ................................... 75 Appendix D: Permanent Rate Limits ........................................................................................... 79 Appendix E: Gap Bonds .................................................................................................................. 97 Appendix F: Community College Local Option Limits............................................................ 99 Index ................................................................................................................................................. 101 i

Most local governments in Oregon, from the smallest cemetery district to the largest city, must prepare and adopt an annual budget. Schools, counties, cities, rural fire protection districts, and most special districts are all subject to the same budget provisions. Only districts specifically exempted in the law do not have to prepare and adopt an annual budget. (See Chapter 3, page __, for a list of exempt local governments.) Budget provisions are determined by Oregon’s Local Budget Law. It is found in Chapter 294 of the Oregon Revised Statutes. The law sets out several specific procedures that must be followed during the budgeting process. The budget must be completed by June 30— the day before the start of the fiscal year to which the budget applies. Without a budget for the new fiscal year in place, the local government’s authority to spend money or incur obligations expires on June 30. A local government’s ability to impose a property tax is also tied to the budgeting process. Compliance with Local Budget Law is critical for local governments. What is Local Budget Law? Many states have specific laws which require local governments to prepare and adopt annual budgets. Oregon’s Local Budget Law does several very special things: • It establishes standard procedures for preparing, presenting and administering the budgets of Oregon’s local governments. • It encourages citizen involvement in the preparation of the budget before its formal adoption. • It provides a method of estimating revenues, expenditures and proposed taxes. • It offers a way of outlining the programs and services provided by local governments and the fiscal policy used to carry them out. Budgeting in Oregon is a joint effort between the people affected by the budget and the appointed and elected officials responsible for providing the services. Citizen involvement in the budget process varies from one community to the next. It is up to each local government to prepare a budget that clearly outlines its fiscal policies and is satisfactory to its patrons. If a budget is clear and concise, taxpayers better understand how their tax dollars are spent. Introduction 1 Oregon’s Local Budget Law is set out in Oregon Revised Statutes 294.305 to 294.565. The full text of these statutes can be found on the Oregon Legislature Web site at www.leg.state.or.us. Biennial Budgets Municipal corporations have the option of budgeting on a 24-month budget, which is called a biennial budget, or they can budget by fiscal year. For the differences that biennial budgeting will entail, see Chapter 15—Biennial Budgets. Throughout this manual, we refer to the budget period as “fiscal year” but if a local government adopts a biennial budget, the period referred to is a 24month period. What is a Budget? A budget is a financial plan containing estimates of revenues and expenditures for a single fiscal year. Each local government operates within a fiscal year beginning on July 1 and ending the following June 30. Budgeting allows a local government to evaluate its needs in light of the revenue sources available to meet those needs. A complete budget justifies the imposition of ad valorem (according to value) property taxes. Questions? Telephone: Salem 503-945-8293 TTY (hearing or speech impaired only). These numbers are answered by machine only and are not for voice use. The toll-free number within Oregon is 1-800-886-7204. In Salem, the number is 503-945-8617. ¿Habla español? Línea de mensaje. Las personas que necesitan asistencia en español pueden dejar un mensaje. El número disponible todo el año en Salem es 503-945- 8618. A message line is available all year for those who need assistance in Spanish. The number in Salem is 503-945-8618. Americans with Disabilities Act (ADA). In compliance with ADA, this information is available in alternative formats upon request. The toll-free number in Oregon is 1-800-356-4222. In Salem, it is 503-378-4988. Internet: www.dor.state.or.us

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