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

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

Chapter 1—The Budget

Chapter 1—The Budget Process: Who’s Involved? Many state agencies and organizations are involved in the budget process. This chapter explains the duties and responsibilities of each agency or organization. The Oregon Department of Revenue and Local Budgeting The authority of the Department of Revenue in its oversight role in the budgeting process of local government is found in ORS 294.490 and ORS 294.495. The department has the statutory authority to ensure compliance with Local Budget Law and all other laws relating to the imposition of property taxes by municipal corporations (ORS 294.490). The same statute prohibits the department from interfering with the fiscal policy of any local government. Sole authority to interpret and administer Local Budget Law and to issue rules for compliance is also given to the department by statute (ORS 294.495). Publications The Department of Revenue uses several methods to fulfill its statutory duties. Instructions such as this manual provide detailed budgeting guidelines and statutory interpretations. Local Budgeting in Oregon, an overview of the budgeting process, is especially helpful to the public and budget committee members. Information circulars, distributed to county assessors’ offices, provide timely information on specific issues. All of these publications are also available on the department’s Web site at www.dor.state.or.us. Forms The Department of Revenue has the authority to prescribe forms to carry out Local Budget Law (ORS 294.495) or any other law authorizing the imposition of property taxes. The department has developed budget and publication forms that comply with the law. Local governments must use these forms or use the same formats for the forms they produce. In addition, school districts, community colleges, and hospitals have specific requirements for preparing the estimate of expenditures (ORS 294.356). Each year a packet of current tax certification forms is sent to the budget officer of every local government on the Department of Revenue mailing list. It is important that local officials use the current tax certification forms. Tax certification forms are revised annually. Outdated forms should be destroyed. The local government should make sure that the person responsible for preparing the budget receives all the current forms. Each 3 local government is responsible for keeping the Department of Revenue updated on name and address changes. Budget detail forms are available from the Department of Revenue on request. The most current version of the Notice of Property Tax... (Forms LB-50, UR-50, and ED-50), provided by the department must be used by all local governments imposing a property tax. Summary The Department of Revenue is responsible for interpreting and administering Local Budget Law and laws related to the imposition of property tax. Any local government with questions about these laws and their requirements should contact the Department of Revenue at 503-945-8293 for help. These laws are complex and ever-changing. It is important that local governments stay informed of law changes and requirements. Secretary of State Audits Division All Oregon local governments are subject to the Municipal Audit Law, ORS 297.405 to 297.555. The law requires an annual audit of the financial statements of counties and school districts. A local government, other than a county or school district, with combined revenues and expenditures of less than $150,000, and whose chief fiscal officer is bonded for the total amount of money received during the year may file unaudited financial statements with the Secretary of State within 90 days after its fiscal year ends. Forms used to file unaudited financial statements are available at no charge from the Audits Division of the Secretary of State. A local government, other than a county or school district, with combined revenues and expenditures of more than $150,000 but less than $500,000, and whose financial statements have been reviewed by a licensed municipal auditor may file “review reports” with the Secretary of State within 180 days after its fiscal or calendar year ends. A local government, including counties and school districts, that must have its financial statements reviewed or audited, must contract with an accountant licensed as a municipal auditor by the Oregon Board of Accountancy to do the review or audit. The Board of Accountancy maintains a list of licensed municipal auditors. Write to the Board of Accountancy for a copy of this listing. Its address is 3218 Pringle Road SE, Suite 110, Salem OR 97302-6307.

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