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

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

Budget Hearing Chapter

Budget Hearing Chapter 12—Adopting the Budget After the “Notice of Budget Hearing and Financial Summary” is published, the budget hearing must take place at the time and place published. The governing body conducts the hearing and receives testimony from persons present. It gives consideration to matters discussed at the hearing (ORS 294.430). Keep careful minutes of the budget hearing proceedings. The governing body does not have to adopt the budget, make appropriations, or declare and categorize the tax at the budget hearing. If the governing body refrains from adopting the budget until as close as possible to June 30, it allows for adjusting the budget to reflect changes in the resources or expenditures from what was estimated earlier. Formally adopting the budget, making appropriations, declaring and categorizing the taxes can be done at any regularly scheduled and properly advertised public meeting of the governing body after the budget hearing and before July 1. For biennial budgets, see Chapter 15. How to Adopt the Budget Once the budget hearing has been held and testimony has been heard and considered, the governing body enacts a resolution or ordinance adopting the budget (ORS 294.435). The adopted budget must include: 1. The detailed expenditures and resources for each fund, organizational unit, program, or activity; 2. The detailed actual information for the first and second preceding years; 3. The adopted budget information for the current year; 4. The proposed and approved budget figures for the upcoming year; and 5. The adopted figures as they were finally enacted [ORS 294.376 and 294.435(2)]. The governing body can adopt the budget only after the budget hearing. The budget hearing should be scheduled and the budget document prepared far enough in advance to allow the budget to be adopted before the beginning of the new fiscal year on July 1. Considerations in Adopting the Budget The governing body must take all information available into consideration when adopting the budget. This information includes the public testimony, both for and against the budget, presented at the budget hearing. The governing body must consider any new information affecting the upcoming year’s resources or expenditures [ORS 294.435(1)]. 49 It is important that the governing body carefully consider the budget it adopts. Only limited changes to the budget are allowed after it has been adopted. Generally, changes are not allowed for resources and expenditures that the governing body had knowledge of before adopting the budget. It is for this reason that all information must be collected during the budget process and included in the budget document upon final adoption. Fiscal Powers of the Governing Body The governing body of the local government has the power to: Before July 1: • Impose taxes (ORS 294.435). —Republish the financial summary and hold a second hearing before July 1 to raise the tax amount above the rate or amount approved by the budget committee. —Reduce the tax amount. • Adjust resources (ORS 294.435). —Take notice of underestimated resources and: •Make a corresponding reduction in the taxes, or •Provide for additional expenditures (see “Adjust requirements” below). —Take notice of overestimated resources and make a corresponding reduction in expenditures. • Adjust requirements (ORS 294.435). —Reduce or eliminate any requirement or proposed expenditure. —Increase expenditures by not more than $5,000 or 10 percent, whichever is greater, of budget committee approved total in each or any fund. —Increase expenditures by more than $5,000 or 10 percent of any fund by republishing the budget and holding a second hearing before July 1. • Amend the adopted budget before July 1 (ORS 294.435). After July 1: • Adopt a supplemental budget (ORS 294.480). The supplemental budget is based on unforeseen circumstances or anticipated resources realized after the regular budget was adopted. • Make resolution transfers (ORS 294.450). Transfer appropriations and resources within any fund or from the general fund to any other fund. Transfers from special funds to the general fund are limited to those provided for in the adopted budget. • Approve or disapprove any expenditure.

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