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

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

3. Taxes levied to pay

3. Taxes levied to pay exempt bonded indebtedness go in the “Excluded from Limitation” category. Oregon Revised Statutes 310.140 through 310.155 will help local governments determine the category(ies) in which to place their taxes. The certification of tax limitation category is contained in the Form LB-50/UR-50/ED-50 which is filed with the county assessor by July 15. Budget Document and Notice of Tax Local governments that are subject to Local Budget Law are required as part of their tax notification to submit two copies of the resolution adopting and appropriat- 56 ing the budget, and imposing and categorizing the tax to the county assessor. See the Chapter 12 section on Distribution of the Tax Certification Documents for more details. Do not submit copies of the budget document to the county assessor unless specifically requested. Submit a complete copy of the budget document to the county clerk by September 30. If your district is located in more than one county, provide a copy to the clerk of each county in which it is located. School districts must submit a hard copy of their complete budget documents to their education service district and the Department of Education by July 15.

Chapter 14—Budget Changes After Adoption After July 1 when local government is operating within the adopted budget for the current fiscal year, changes in appropriated expenditures are sometimes necessary. Appropriations may have to be decreased or increased. For biennial budgets, see Chapter 15. Budget Reduction If a local government will not realize the amount of resources it estimated, and this shortfall will not be offset by receipts of another resource in the same fund, the amount of the appropriations and expenditures should be reduced. A governing body after a public hearing can adjust budgeted resources and reduce expenditures by ordinance or resolution to reflect a decrease in resources [ORS 294.435(6)]. A shortfall in revenue can be revealed by periodic financial reports, a procedure which should be a fundamental administrative practice of all local governments. Resolution Transfers An appropriation is the authority granted by the governing body to make expenditures and to incur obligations for specific purposes. It is limited to one fiscal year [ORS 294.311(3)]. Appropriations are also a legal limitation on the amount of expenditures that can be made during the fiscal year [ORS 294.435(4)]. A local government’s appropriations are detailed in the resolution or ordinance making appropriations. Examples are shown at the end of Chapter 12. It often becomes necessary after the budget is adopted to increase the total expenditures of a fund or an object classification. One way to accomplish this is to transfer appropriation authority, and in some cases, resources. A transfer of appropriation is a decrease of one existing appropriation and a corresponding increase of another existing appropriation [OAR 150-294.450(3)(1)]. To transfer appropriations and resources, the governing body must pass a resolution or ordinance. The resolution or ordinance must state the need for the transfer, the purpose of the expenditure, and the amount to be transferred [ORS 294.450(1)&(3)]. Transfers can occur either within a fund, or from the general fund to any other fund. Resolution transfers cannot move appropriations between special revenue funds or from a special revenue fund to the general fund [ORS 294.450(4)]. For the purposes of resolution 57 transfers, all funds except the general fund are considered special revenue funds [OAR 150-294.450(3)]. Intrafund Transfers Appropriations can be transferred within a fund from an existing appropriation to another existing appropriation [OAR 150-294.450(3)]. For example, within a general fund, appropriations can be transferred by resolution from the existing materials and services appropriation to the existing capital outlay appropriation. The materials and services category is decreased and capital outlay is increased by a corresponding amount. The net change in the fund’s total appropriations is zero. During the fiscal year, an appropriation category cannot be created through a resolution, except as provided in ORS 294.326 or OAR 150-294.450(3). If a new appropriation category is needed during the fiscal year, a supplemental budget will probably be required. Intrafund resolution transfers do not require the transfer of resources. No additional revenue is received by the fund, the expenditures are just shifted around. Interfund Transfers Appropriations can be transferred during the fiscal year from the general fund to another fund by a resolution or ordinance. A transfer of resources is usually required when appropriations are moved between funds. Resources by themselves cannot be transferred between funds. If the general fund does not have an appropriation category for “transfer to other funds,” one may be created as part of the resolution or ordinance [OAR 150-294.450(3)(4)]. This is the only circumstance under which a budget appropriation category may be created by resolution or ordinance during the fiscal year. Appropriations in the receiving fund are increased by the amount of the transfer, and the resources available to that fund are also increased by the amount transferred from the general fund. Appropriations in the general fund are reduced as are the resources. Expenditures in the general fund are then limited by the reduced appropriation authority and reduced resources. Example: As the fiscal year begins, the city has set up its General Fund and Utility Fund appropriations by resolution as shown on the following page.

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