2007 Oregon Code - Chapter 293 :: Chapter 293 - Administration of Public Funds
Chapter 293 —
Administration of Public Funds
2007 EDITION
ADMINISTRATION OF PUBLIC FUNDS
PUBLIC FINANCIAL ADMINISTRATION
GENERAL PROVISIONS
293.075Â Â Â Â Encumbrances;
rules
GIFTS, DEVISES AND BEQUESTS
293.090Â Â Â Â Disposition
of gift, devise or bequest to state or state agency
293.095Â Â Â Â Effect
of change in organization of state agencies on gifts, devises and bequests
GENERAL FUND; OTHER STATE FUNDS
(Generally)
293.105Â Â Â Â General
Fund
293.110Â Â Â Â Certain
funds as part of General Fund
293.115Â Â Â Â Moneys
separate and distinct from General Fund
293.117Â Â Â Â Trust
fund; continuous appropriation
293.125Â Â Â Â Department
to make accounting entries and charge claims against special dedicated funds
293.130Â Â Â Â Information
required on records of moneys deposited
293.135Â Â Â Â Payment
of warrants against certain special funds
293.140Â Â Â Â Disposition
of interest on state funds
(
293.144Â Â Â Â Oregon
Rainy Day Fund; use; interest
293.146Â Â Â Â Transfer
of moneys to Rainy Day Fund
293.148Â Â Â Â Cap
on amount
(Deficiencies)
293.165Â Â Â Â Borrowing
to pay warrants against General Fund
293.167Â Â Â Â Proceeding
when warrants not paid for want of funds
293.169Â Â Â Â Notification
to agency to stop issuing checks or warrants or initiating electronic funds
transfers; resumption of checks, warrants or electronic funds transfers
293.171Â Â Â Â State
agency overdrafts; interest
(Petty Cash)
293.180Â Â Â Â Agency
petty cash fund
(Reversion)
293.190Â Â Â Â Reversion
of appropriations to General Fund; cancellation of budget limitations; rules;
exceptions; extensions
TRANSFERS TO FUNDS HAVING INSUFFICIENT MONEY
293.205Â Â Â Â Definitions
for ORS 293.205 to 293.225
293.210Â Â Â Â Transfer
and retransfer of money and credit among state funds
293.212Â Â Â Â When
transfers to funds with insufficient moneys are authorized
293.214Â Â Â Â Lines
of credit for state agency; duration; source of funding
293.215Â Â Â Â Evidencing
transfers and retransfers; notification of transfer
293.220Â Â Â Â Interest
on transferred moneys or credits
293.225Â Â Â Â Construction
of ORS 293.205 to 293.220
COLLECTION OF DEBTS OWED TO STATE AGENCIES
293.227Â Â Â Â Definitions
for ORS 293.227 to 293.233
293.229Â Â Â Â Liquidated
and delinquent accounts of state agency; annual reports
293.231Â Â Â Â Collection
of liquidated and delinquent accounts by private collection agency or
Department of Revenue; rules; fee added to debt
293.233Â Â Â Â Exemption
of accounts from assignment to private collection agency; rules
UNCOLLECTIBLE DEBTS
293.235    “State
agency” defined for ORS 293.240 and 293.245
293.240Â Â Â Â Writing
off uncollectible debts due state agency
293.245Â Â Â Â Subsequent
collection of debt written off under ORS 293.240
RECEIVING AND HANDLING MONEYS
293.250Â Â Â Â Collections
Unit; collection and disposition of amounts due state agencies or counties;
setoff of sums due debtor; warrants
293.260Â Â Â Â Collection
of moneys and property due to state
293.262Â Â Â Â Requiring
information regarding accounts; reference to legislature
293.265Â Â Â Â Moneys
collected to be turned over to State Treasurer; return of checks or money
orders; maximum amount returned set by rule; effect of indorsement “paid in
full”
293.270Â Â Â Â Record
of moneys deposited under ORS 293.265; interest
293.275Â Â Â Â Disbursement
of moneys
293.280Â Â Â Â Application
of ORS 293.265 to 293.275
293.285Â Â Â Â Transfers
between funds, accounts or appropriations authorized for certain interagency
and intergovernmental payments
293.293Â Â Â Â Funds
held in trust by court
APPROVING AND PAYING CLAIMS
(Approval)
293.295Â Â Â Â When
claim against moneys in State Treasury may be paid
293.300Â Â Â Â No
claim to be paid if disapproved by department; exceptions
293.306Â Â Â Â Forms
and procedures for claims, warrants, checks and orders; notice of two-year
cancellation
293.311Â Â Â Â Requiring
information regarding claims
293.316Â Â Â Â Appeal
of disputed claim
293.321Â Â Â Â Limitation
on time of presentment of claims
293.326Â Â Â Â When
claim allowed against state as setoff
293.330Â Â Â Â Designation
of officer by state agency to approve disbursements
293.335Â Â Â Â Designation
of individual by legislative committee to approve disbursements
293.341Â Â Â Â References
to voucher claims as references to disbursements; filing designations with
department
293.346Â Â Â Â Drawing
warrants
293.348Â Â Â Â Charging
and billing state agencies for expense of drawing and processing warrants
293.353Â Â Â Â Payment
for expense of processing banking-related transactions
293.370Â Â Â Â Use
of facsimile signatures by department and state agencies
293.375Â Â Â Â Use
of facsimile signatures by state officers and employees
(Payment)
293.406Â Â Â Â Payment
by State Treasurer; effect of issuance of check or warrant or initiation of
electronic funds transfer by state officer
293.445Â Â Â Â Definition
for ORS 293.445 to 293.460; authority to make refunds; moneys held for refund
or payment to claimants; deposit; rules; drawing checks
293.447Â Â Â Â Establishment
of accounts for purposes other than those in ORS 293.445 authorized; rules
293.450Â Â Â Â Report
of checks outstanding more than two years
293.455Â Â Â Â Refusal
of payment of unpresented checks; duties of State Treasurer in transferring
funds; report to Department of State Lands
293.460Â Â Â Â Recourse
of owners of unpaid checks
293.462Â Â Â Â Payment
of overdue account charges; rules
(Duplicate Instruments)
293.465Â Â Â Â Definitions
for ORS 293.465 to 293.485; presentation of instrument for payment
293.470Â Â Â Â Payment
on lost, stolen or destroyed instruments; indemnity bonds not required
293.475Â Â Â Â Issuance
of duplicate instrument; affidavit of owner, payee or representative
293.480Â Â Â Â Adoption
of uniform procedure for issuing duplicate instruments
293.485Â Â Â Â Effect
of wrongful payment; liability of officer
(Death of Payee)
293.490Â Â Â Â Payment
upon death of person entitled to money from state if estate not in probate
293.495Â Â Â Â Procedure
for payment
293.500Â Â Â Â Probate
proceedings unnecessary; accounting to administrator
(Auditor of Public Accounts)
293.505Â Â Â Â Secretary
of State as Auditor of Public Accounts; claim disapproved in performance of
constitutional functions not to be paid
293.510Â Â Â Â Presentment
of claims to Secretary of State not required
293.515Â Â Â Â Withholding
salary of state official or employee failing to settle accounts or correct
delinquencies or errors in audit reports; notice and hearing; exemptions
ELECTRONIC FUNDS TRANSFERS
293.525Â Â Â Â Payments
to and by state agencies by electronic funds transfers; rules; penalty for
failure to comply
ACCOUNTS FOR TOBACCO SETTLEMENT MONEYS
293.537Â Â Â Â Tobacco
Settlement Funds Account; sources; uses; investment
293.540Â Â Â Â Health
Care Trust Fund; sources; uses; investment
DISTRIBUTING CERTAIN FEDERAL MONEYS
293.550Â Â Â Â Receipt
and disposition generally of federal aid moneys; deposit in special fund
293.555Â Â Â Â Receipt
and disposition of moneys received from federal government in lieu of ad
valorem property taxes
293.560Â Â Â Â Apportionment
among counties of moneys received from federal government from forest reserves
293.565Â Â Â Â Apportionment
among counties of moneys received from federal government under Mineral Lands
Leasing Act; Federal Mineral Leases Fund
293.570Â Â Â Â Apportionment
among counties of moneys received from federal government under federal Flood
Control Act; Federal Flood Control Leases Fund
293.575Â Â Â Â Distribution
of funds received under the Taylor Grazing Act; Taylor Grazing Fund
Note         Distribution
of moneys from, or based on, federal
ACCOUNTING AND FISCAL REPORTING
293.590Â Â Â Â Department
to supervise state agency accounting; furnishing accounting services
293.595Â Â Â Â Supervision
of data processing equipment for accounting system; other uses
293.600Â Â Â Â Financial
and statistical reports by state agencies
293.605Â Â Â Â Fiscal
year
293.611Â Â Â Â Accounts
and records of Secretary of State as Auditor of Public Accounts
293.616Â Â Â Â Accounts
and records of State Treasurer
293.620Â Â Â Â Monthly
account of and payment by custodians of state property
293.625Â Â Â Â Statements
to be rendered to Secretary of State
293.630Â Â Â Â Date
for closing accounts by persons who must make annual accounts
293.640Â Â Â Â Period
covered by biennial reports
293.660Â Â Â Â Determining
date of filing or receipt of reports, claims, tax returns or remittances
INVESTING STATE FUNDS
293.701Â Â Â Â Definitions
for ORS 293.701 to 293.820
293.706Â Â Â Â Oregon
Investment Council; appointment; term; vacancies
293.708Â Â Â Â Conflicts
of interest for council members
293.711Â Â Â Â Compensation
and expenses of council members; chairperson
293.713Â Â Â Â When
compensation of council member as director of business prohibited
293.714Â Â Â Â Council
meetings; recordings; logs
293.716Â Â Â Â State
Treasurer is investment officer for council; subordinate personnel; bonds
293.718Â Â Â Â Payment
of expenses of State Treasurer
293.721Â Â Â Â General
objective of investments
293.723Â Â Â Â Discrete
investment of moneys
293.726Â Â Â Â Standard
of judgment and care in investments; investment in corporate stock
293.731Â Â Â Â Council
to formulate and review investment policies; exception
293.733Â Â Â Â Venture
capital investments; councilÂ’s duty
293.734Â Â Â Â Report
on venture capital investments
293.736Â Â Â Â Duties
of investment officer
293.741Â Â Â Â Council
may contract with others to perform investment officer functions; compensation;
bond
293.746Â Â Â Â Opinion
of bond attorney or Attorney General; investment counseling and mortgage
services
293.751Â Â Â Â Custody
of title instruments; deposit for safekeeping; form; collection and disposition
of principal and interest; default proceedings
293.756Â Â Â Â Separate
accounting for funds
293.761Â Â Â Â Reports
by investment officer with respect to funds
293.766Â Â Â Â Monthly
reports by investment officer to council
293.771Â Â Â Â Reports
by council to Governor and legislature
293.776Â Â Â Â Examination
and audit of investment program; report
293.778Â Â Â Â Investment
holding companies; use; directors and officers; effect of conflict of interests
293.780Â Â Â Â Group
annuity contracts with insurers on behalf of Public Employees Retirement System
and Board
293.790Â Â Â Â Holding,
investing and disposing of corporate stock
293.796Â Â Â Â Findings
regarding venture capital for new businesses
INVESTING IN
293.811Â Â Â Â Short
title
293.812Â Â Â Â Definitions
293.813Â Â Â Â Findings
293.814Â Â Â Â Investment
in companies doing business in
293.815Â Â Â Â Investigation
of companies; notice of withdrawal of investments
293.816Â Â Â Â Exceptions
293.817Â Â Â Â Report
to Legislative Assembly
INVESTING LOCAL FUNDS
293.820Â Â Â Â Separate
accounts for each local government; report; investment rules
INVESTMENT POOLS
293.822Â Â Â Â Investment
pools authorized
293.824Â Â Â Â Investment
pool procedures; duties of State Treasurer
CASH MANAGEMENT
293.875Â Â Â Â State
Treasurer as state cash management officer; duties
293.880Â Â Â Â Accounts
and funds established to comply with federal legislation relating to state and
federal cash management reform
PENALTIES
293.990Â Â Â Â Penalties
GENERAL PROVISIONS
     293.075
Encumbrances; rules. The
Oregon Department of Administrative Services may adopt rules and regulations
defining “encumbrances” as used in ORS chapters 291, 292 and 293 and the manner
in which they are to be charged to appropriations and expenditure limitations. [1971
c.341 §2]
GIFTS,
DEVISES AND BEQUESTS
     293.090
Disposition of gift, devise or bequest to state or state agency. All property given, devised or bequeathed to
the State of
     Note: 293.090 and 293.095 were enacted into law by
the Legislative Assembly but were not added to or made a part of ORS chapter
293 or any series therein by legislative action. See Preface to Oregon Revised Statutes
for further explanation.
     293.095
Effect of change in organization of state agencies on gifts, devises and
bequests. The state may
abolish agencies, change or transfer agency functions or rename any state
agency. Notwithstanding any such action, property acquired by the state through
gift, devise or bequest, when the purpose of the grant is stated or implied as
provided in ORS 293.090, shall continue to be used by any successor agency for
the purpose specified. If property is held in trust, a change in agency name or
transfer of agency functions, including administration of a trust, shall not be
deemed a deviation from the terms of the trust. [1979 c.143 §2]
     Note: See note under 293.090.
GENERAL FUND;
OTHER STATE FUNDS
(Generally)
     293.105
General Fund. Subject to ORS
293.115, the following moneys shall be placed by the State Treasurer to the
credit of and shall constitute the General Fund of the State of
     (1) All moneys arising from direct
taxation and paid into the State Treasury by the several counties of the state.
     (2) All moneys arising from the imposition
of any license or other fees for permission to transact any business in the
state and paid into the State Treasury by any person, firm or corporation if
the law imposing the fee specifically requires the moneys to be paid into the
General Fund.
     (3) All moneys collected by any state
officer, board, institution or commission or county officer for license or
other fees exacted by law, and from sales of state products paid into the State
Treasury if the law imposing the fee specifically requires the moneys to be
paid into the General Fund. [Formerly 291.352; 2003 c.81 §1]
     293.110
Certain funds as part of General Fund. (1) All payments of money into the State Treasury by virtue of any
statute providing for, creating, authorizing or continuing any of the funds and
accounts enumerated in subsection (2) of this section shall be paid into and
become a part of the General Fund.
     (2) The following funds and accounts shall
be a part of the General Fund:
     (a)
     (b) Motor Vehicle Fund.
     (c) State Institutional Betterment Fund.
     (d) Miscellaneous Receipts Account for the
State Library.
     (e)
     (f) Administrative Services Economic
Development Fund.
     (g) All other funds or accounts created by
law that are specifically established in the law creating them as funds or
accounts in the General Fund. [Formerly 291.354; 1977 c.886 §36; 1983 c.740 §82;
1985 c.302 §12; 1985 c.762 §181; 2001 c.104 §100; 2003 c.81 §2; 2005 c.726 §20]
     293.115
Moneys separate and distinct from General Fund. The following moneys shall be separate and
distinct from the General Fund:
     (1) Moneys paid into the State Treasury
for fiduciary purposes and moneys that are in trust funds, as defined in ORS
291.002.
     (2) Moneys by law directed and required to
be placed by the State Treasurer to the credit of:
     (a) The Agricultural College Fund
principal and the interest accruing from the investment thereof.
     (b) The Burbank Trust Fund and the
interest accruing from the investment thereof.
     (c) The Common School Fund and the
interest accruing from the investment thereof.
     (d) The Industrial Accident Fund under ORS
656.632 and the interest accruing from the investment thereof.
     (e) The Consumer and Business Services
Fund under ORS 705.145 and the interest accruing from the investment thereof.
     (f) The Workers’ Benefit Fund created in
ORS 656.605 and the interest accruing from the investment thereof.
     (g) The University Fund principal and the
interest accruing from the investment thereof.
     (h) The
     (i) The Oregon Commercialized Research
Fund created by ORS 284.725 and the interest accruing from the investment
thereof.
     (j) The Oregon Innovation Fund created by
ORS 284.720 and the interest accruing from the investment thereof.
     (3) All sums received by the state from
the federal government from forest reserves, rentals, sales of timber and other
sources from forest reserves, under ORS 293.560 and the interest accruing from
the investment thereof.
     (4) All sums received from the five
percentum of sales of public lands and apportioned under ORS 272.085 and the
interest accruing from the investment thereof.
     (5) All sums received from the federal
government under ORS 293.565 to 293.575 under Mineral Leasing Act, federal
Flood Control Act and the Taylor Grazing Act and the interest accruing from the
investment thereof.
     (6) Any other funds or accounts created by
law that are not specifically established in the law creating them as funds or
accounts in the General Fund. [Formerly 291.356; 1965 c.285 §79; 1981 c.787 §54;
1985 c.787 §2; 1987 c.373 §27; 1989 c.966 §19; 1995 c.641 §1; 2001 c.835 §§7,8;
2001 c.920 §10; 2003 c.81 §§3,4; 2005 c.748 §§13,14]
     293.117
Trust fund; continuous appropriation. (1) Moneys in a trust fund that are not otherwise appropriated by law
are continuously appropriated to the agency that administers the trust in order
to carry out the purposes of the trust.
     (2) As used in this section, “trust fund”
has the meaning given that term in ORS 291.002. [2003 c.81 §5]
     Note: 293.117 was enacted into law by the
Legislative Assembly but was not added to or made a part of ORS chapter 293 or
any series therein by legislative action. See Preface to Oregon Revised
Statutes for further explanation.
     293.120 [Formerly 291.358; repealed by 2003 c.81 §14]
     293.125
Department to make accounting entries and charge claims against special
dedicated funds. The Oregon
Department of Administrative Services shall, by appropriate entries made at
monthly periods, credit the several objects with the amounts which may be
received respectively from the several sources and charge against the same any
claims incurred in pursuance of authority of law, in the same manner as is
provided for the payment of claims against the state. [Formerly 291.360; 1967
c.454 §99]
     293.130
Information required on records of moneys deposited. The State Treasurer shall enter upon all
records created by the State Treasurer for moneys paid into the State Treasury
such necessary information as shall:
     (1) Enable the Oregon Department of
Administrative Services to credit the moneys to a fund or account in such
amounts as are applicable under the law.
     (2) Permit an appropriate accounting of
the moneys. [Formerly 291.362; 1967 c.454 §100; 1969 c.141 §2; 1999 c.412 §1]
     293.135
Payment of warrants against certain special funds. All warrants issued against any special fund
that is a part of the General Fund hereby are made payable out of the General
Fund. Such payment shall be made by the State Treasurer to the holders of such
warrants upon demand. [Formerly 291.364]
     293.140
Disposition of interest on state funds. Except as otherwise provided by law, all interest received on deposits
of state funds shall accrue to and become a part of the General Fund. [Formerly
291.366; 1981 c.194 §1]
(
     293.144
     (2) The Legislative Assembly may
appropriate moneys from the Oregon Rainy Day Fund only if the appropriation is
approved by three-fifths of the members serving in each house of the
Legislative Assembly and the Legislative Assembly finds one of the following:
     (a) That the last quarterly economic and
revenue forecast for a biennium indicates that moneys available to the General
Fund for the next biennium will be at least three percent less than
appropriations from the General Fund for the current biennium;
     (b) That there has been a decline for two
or more consecutive quarters in the last 12 months in seasonally adjusted
nonfarm payroll employment; or
     (c) That a quarterly economic and revenue
forecast projects that revenues in the General Fund in the current biennium
will be at least two percent below what the revenues were projected to be in
the revenue forecast on which the legislatively adopted budget for the current
biennium was based.
     (3) Once each month, the Oregon Department
of Administrative Services shall calculate the amount of General Fund interest
that is attributable to moneys in the Oregon Rainy Day Fund. Except as
otherwise provided in ORS 293.148, the department shall transfer the amount
calculated under this subsection to the Oregon Rainy Day Fund.
     (4) The Legislative Assembly may not
appropriate for any one biennium more than two-thirds of the amount that is in
the Oregon Rainy Day Fund at the beginning of that biennium. If the
appropriation is for a biennium that has not yet begun, the Legislative
Assembly may use as the base the most recent estimate of the amount that will
be in the Oregon Rainy Day Fund at the beginning of the biennium for which the
appropriation is made.
     (5) As used in this section, “legislatively
adopted budget” has the meaning given that term in ORS 291.002. [2007 c.5 §1]
     Note: 293.144 to 293.148 were enacted into law by
the Legislative Assembly but were not added to or made a part of ORS chapter
293 or any series therein by legislative action. See Preface to Oregon Revised
Statutes for further explanation.
     293.145 [Formerly 291.368; repealed by 1967 c.637 §37]
     293.146
Transfer of moneys to Rainy Day Fund. (1) As used in this section:
     (a) “Ending balance” means the difference
between the amount of General Fund revenues collected during a biennium and the
amount of General Fund appropriations for the biennium.
     (b) “General Fund appropriations” means
the amount of moneys appropriated from the General Fund for a biennium in the
legislatively approved budget for the biennium, minus the amount of any General
Fund appropriation balances for that biennium that revert to the General Fund
under ORS 293.190.
     (c) “Legislatively approved budget” has
the meaning given that term in ORS 291.002.
     (2) Except as provided in ORS 293.148, as
soon as possible after the ending balance for a biennium is determined, an
amount equal to one percent of the amount of General Fund appropriations for
that biennium shall be transferred to the Oregon Rainy Day Fund established by
ORS 293.144. If the ending balance does not equal or exceed one percent of the
amount of General Fund appropriations, an amount equal to the ending balance
shall be transferred to the Oregon Rainy Day Fund. [2007 c.5 §4]
     Note: See note under 293.144.
     293.148
Cap on amount. (1) If the
moneys in the Oregon Rainy Day Fund established by ORS 293.144 just prior to
the time of a transfer scheduled under ORS 293.144 (3) or 293.146 equal at
least 7-1/2 percent of the amount of General Fund revenues collected during the
prior biennium, moneys that would otherwise be transferred to the Oregon Rainy
Day Fund shall be deposited in the General Fund.
     (2) If the moneys in the Oregon Rainy Day
Fund just prior to the time of a transfer scheduled under ORS 293.144 (3) or
293.146 do not equal at least 7-1/2 percent of the amount of General Fund
revenues collected during the prior biennium, the transfer to the Oregon Rainy
Day Fund shall be made regardless of whether that transfer increases the amount
in the Oregon Rainy Day Fund to at least 7-1/2 percent of the amount of General
Fund revenues collected during the prior biennium. [2007 c.5 §6]
     Note: See note under 293.144.
     293.150 [Formerly 291.370; 1967 c.454 §101; repealed
by 1967 c.637 §§37,38]
     293.155 [Formerly 291.372; repealed by 1967 c.637 §37]
     293.160 [Formerly 291.374; repealed by 1967 c.637 §37]
(Deficiencies)
     293.165
Borrowing to pay warrants against General Fund. (1) If the moneys in the General Fund become
exhausted, the State Treasurer shall borrow from the most advantageous sources
the amounts necessary to pay warrants drawn against the General Fund in
pursuance of law, other than warrants drawn against funds whose use is
restricted to particular purposes by the Constitution of Oregon or by federal
law. The Governor, Secretary of State and State Treasurer, jointly, shall issue
certificates of indebtedness therefor. The certificates shall draw interest not
to exceed the legal rate of interest until redeemed. All certificates of
indebtedness shall be redeemable by the State Treasurer from the first moneys
regularly accruing and credited to the General Fund.
     (2) For the purposes of subsection (1) of
this section, the moneys in the General Fund shall be deemed to be exhausted
when there are no moneys remaining in the General Fund other than funds whose
use is restricted to particular purposes by the Constitution of Oregon or by
federal law. [Formerly 291.378; 1967 c.454 §102; 2003 c.81 §6]
     293.167
Proceeding when warrants not paid for want of funds. (1) For the purposes of this section:
     (a) Exhaustion of the General Fund has the
meaning described in ORS 293.165 (2).
     (b) “Restricted fund” means a fund in the
General Fund whose use is restricted to particular purposes by the Constitution
of Oregon or by federal law.
     (2) Instead of paying warrants drawn on
the General Fund, the State Treasurer shall indorse on the warrants the words “Not
paid for want of funds” and shall register the warrants for future payment if:
     (a) The General Fund becomes exhausted
after the State Treasurer has borrowed moneys as provided in ORS 293.165 and
has made the transfers of surplus funds as provided in ORS 293.205 to 293.225;
and
     (b) The Governor, the Secretary of State
and the State Treasurer deem it necessary or advisable to refuse to pay the
warrants and to register the warrants, and direct the State Treasurer to do so.
     (3) The State Treasurer shall register the
warrants indorsed as provided in subsection (2) of this section by number and
by date according to the date on which the warrants were presented for payment.
All warrants so indorsed and registered shall thereafter become payable in full
according to the date of registration, beginning with the earliest date.
Warrants described in this subsection are payable only from moneys in the
General Fund that are not in restricted funds.
     (4) Notwithstanding subsection (2) of this
section, a warrant that is drawn against a restricted fund may be paid, even if
the General Fund is exhausted, if there are sufficient moneys in the restricted
fund to pay the warrant. The State Treasurer need not indorse or register a
warrant paid under this subsection in the manner described in subsections (2)
and (3) of this section.
     (5) Warrants that are registered under
subsections (2) and (3) of this section shall draw interest payable from the
General Fund, until called for payment by the State Treasurer, at the rate of
five percent per year. The Oregon Department of Administrative Services shall
determine the amount of interest payable on each warrant under this subsection
and when and how the interest will be paid.
     (6) As funds for the payment of all the
warrants registered on a particular date and of the interest thereon become
available in the General Fund, the State Treasurer shall give notice of the
calling of the warrants for payment by one publication in a newspaper printed
and published in
     293.169
Notification to agency to stop issuing checks or warrants or initiating
electronic funds transfers; resumption of checks, warrants or electronic funds
transfers. (1) The State
Treasurer may notify a state agency that it must stop issuing checks or
warrants on, or initiating electronic funds transfers from, a specified fund or
account if:
     (a) The General Fund is exhausted as
described in ORS 293.165 (2);
     (b) Warrants drawn on the General Fund are
being registered under ORS 293.167;
     (c) An appropriation or other
authorization to expend moneys has not been approved for the state agency; or
     (d) There are no moneys in the fund or
account on or from which the state agency proposes to issue checks or warrants
or to initiate electronic funds transfers.
     (2) A notice issued by the State Treasurer
under this section must specify the fund or account on or from which the state
agency may no longer issue checks or warrants or initiate electronic funds
transfers. When the conditions described in subsection (1) of this section that
led to the notice from the State Treasurer are no longer in effect, the State
Treasurer shall notify the state agency that it may resume issuance of checks
or warrants or initiation of electronic funds transfers.
     (3) A state agency that receives a notice
from the State Treasurer under subsection (1) of this section must cease
issuing checks or warrants drawn on, or initiating electronic funds transfers
from, the specified fund or account. If authorized to do so by the State
Treasurer, a state agency that ceases issuance of checks or warrants or
initiation of electronic funds transfers under this section may pay obligations
by warrants that may be registered under ORS 293.167 if the checks or warrants
are drawn on, or the electronic funds transfers are from, moneys in the General
Fund.
     (4) As used in this section, “state agency”
means any board, commission, department, institution, branch or agency the
costs of which are paid in whole or in part from funds held in the State
Treasury. [2003 c.81 §9]
     Note: 293.169 was enacted into law by the
Legislative Assembly but was not added to or made a part of ORS chapter 293 or
any series therein by legislative action. See Preface to Oregon Revised
Statutes for further explanation.
     293.170 [Formerly 291.380; 2003 c.81 §7; renumbered
293.167 in 2003]
     293.171
State agency overdrafts; interest. (1) If a check, warrant or demand for payment by electronic funds
transfer is presented to the State Treasurer for payment and at the time of
presentment the account or fund from which payment should be drawn has
insufficient moneys to pay in full the amount presented, the State Treasurer
may transfer the overdraft amount from other moneys deposited in the State
Treasury by the state agency from whose account or fund the payment is
required. The State Treasurer may charge interest at a rate determined by the
State Treasurer on any negative account or fund balance that results from the
overdraft. The interest shall be paid to the account or fund from which moneys
were transferred to pay the overdraft. The State Treasurer may also charge fees
for the transfer, in amounts determined by the State Treasurer.
     (2) The authority given the State
Treasurer in this section is in addition to, and not in lieu of, authority
given the treasurer in ORS 293.205 to 293.225.
     (3) As used in this section, “state agency”
means any board, commission, department, institution, branch or agency, the
costs of which are paid in whole or in part from funds held in the State
Treasury. [2003 c.81 §10]
     Note: 293.171 was enacted into law by the
Legislative Assembly but was not added to or made a part of ORS chapter 293 or
any series therein by legislative action. See Preface to Oregon Revised
Statutes for further explanation.
     293.173 [2002 s.s.1 c.1 §3; repealed by 2007 c.783 §234]
     293.175 [2002 s.s.1 c.1 §4; 2007 c.783 §13;
renumbered 286A.050 in 2007]
     293.177 [2002 s.s.1 c.1 §5; 2007 c.783 §14;
renumbered 286A.055 in 2007]
(Petty Cash)
     293.180
Agency petty cash fund. (1)
If the appropriation for an agency or the limitation on expenditures of an
agency, as enacted by the Legislative Assembly, includes an amount for a petty
cash fund, the fund shall be established and administered as provided in this
section.
     (2) The agency for which a petty cash fund
has been authorized may prepare a voucher in the amount authorized in favor of
a person designated by the agency as custodian of its petty cash fund. A
warrant shall be drawn for the amount of the voucher payable out of moneys
appropriated for the expenditures of the agency. The designated custodian shall
credit the amount of the warrant to the petty cash fund.
     (3) The Oregon Department of
Administrative Services may establish regulations governing the administration
of petty cash funds established pursuant to this section.
     (4) Subject to regulations established by
the department:
     (a) The designated custodian may make
disbursements from the petty cash fund only when it is necessary to make an
immediate cash payment which is lawfully payable from moneys appropriated to
the agency.
     (b) The designated custodian may hold the
petty cash fund in cash or may deposit the fund to the account of the agency in
any insured institution or institutions in the state authorized as a depository
of state funds, or may hold part in cash and deposit the remainder.
     (5) The designated custodian shall
periodically submit to the appropriate warrant drawing authority verified
reimbursement vouchers properly supported by evidences of disbursements from
the petty cash fund. Upon allowance of the reimbursement vouchers the warrant
drawing authority shall issue a warrant on the State Treasurer, in favor of the
designated custodian, payable out of moneys appropriated for the expenditures
of the agency. [Formerly 291.548; 1967 c.454 §103; 1997 c.631 §445]
(Reversion)
     293.190
Reversion of appropriations to General Fund; cancellation of budget
limitations; rules; exceptions; extensions. (1) On December 31 in each odd-numbered year, all General Fund
appropriation balances as recorded on the records of the Oregon Department of
Administrative Services for the prior biennium shall revert to the General Fund
except for capital construction, continuing contracts, contested claims,
special appropriations designated by legislative action or savings continuously
appropriated to agencies under ORS 291.120.
     (2) On December 31 in each odd-numbered year,
all limitation balances on any separate fund or cash account in the State
Treasury shall be canceled except for continuing contracts, contested claims or
special limitations designated by legislative action.
     (3) Notwithstanding subsections (1) and
(2) of this section, under conditions which shall be described by the
department by rule, upon request, an extension may be granted to allow an
agency to make final analyses and corrections before an appropriation or
limitation is canceled. The procedures for requesting an extension and the
criteria for approving the request shall be established by the department. [1971
c.341 §3; 1991 c.220 §7; 1993 c.724 §3]
TRANSFERS TO
FUNDS HAVING INSUFFICIENT MONEY
     293.205
Definitions for ORS 293.205 to 293.225. As used in ORS 293.205 to 293.225:
     (1) “Borrowing fund” means the fund to
which money is initially transferred under ORS 293.210.
     (2) “Lending fund” means the fund from
which money is initially transferred under ORS 293.210. [Formerly 291.402]
     293.210
Transfer and retransfer of money and credit among state funds. If there is insufficient money to the credit
of any fund in the State Treasury to pay the obligations against such fund and
there is money to the credit of one or more other state funds that is not then
required to meet the respective obligations against such funds, the State
Treasurer shall transfer so much as the State Treasurer deems advisable of such
money standing to the credit of the funds having excess money to the fund
having insufficient money if there are or will be moneys accruing to the
borrowing fund or that can be transferred to it in like manner, as provided in
this section, to enable a retransfer to be made of such moneys to the credit of
the lending funds from which they were so transferred in time to meet the
requirements of the lending funds. However, unless conditions are such at the
time when the original transfer of moneys is considered as to make sure that
such retransfer can be so made, the original transfer shall not be made. All
moneys transferred under this section from lending to borrowing funds shall be
retransferred to the lending funds when or before they are needed in the
lending funds. [Formerly 291.404; 2005 c.22 §217]
     293.212
When transfers to funds with insufficient moneys are authorized. (1) If the Department of Transportation
determines that there is insufficient money in any of its funds to pay the
obligations against that fund, the department may request the State Treasurer
to transfer money from one or more other funds to the fund that has
insufficient money. The treasurer shall transfer the money if:
     (a) The lending fund has money that is not
required at the time of the transfer to meet the obligations against the fund;
and
     (b) The treasurer determines that there
are or will be enough moneys accruing to the borrowing fund, or that can be
transferred to it, to enable a retransfer of the money to the lending fund in
time to meet the requirements of the lending fund.
     (2) All moneys transferred under this
section to a borrowing fund shall be retransferred to the lending funds when or
before they are needed.
     (3) The department may request transfers
of money under this section regardless of whether or not the insufficiency in a
fund that triggers the request was anticipated by the department. [1991 c.793 §2;
2005 c.22 §218]
     Note: 293.212 was added to and made a part of
293.205 to 293.225 by legislative action but was not added to any smaller
series therein. See Preface to Oregon Revised Statutes for further explanation.
     293.214
Lines of credit for state agency; duration; source of funding. (1) Subject to the provisions of this
section, a state agency may establish with the State Treasurer lines of credit
for funds under its administration, upon a certificate by the agencyÂ’s
department head and chief financial officer to the State Treasurer representing
and satisfactorily demonstrating, for the period for which a line of credit is
requested, that:
     (a) There will be insufficient moneys to
the credit of the funds for which the line of credit is requested to meet
expenses as they arise; and
     (b) The agency will be entitled for
expenditure of agency funds to reimbursement from federal agencies or other
sources sufficient to repay, when due, all draws against the line of credit,
plus interest charged to the agency.
     (2) No line of credit, based upon
anticipated reimbursements, shall be established more than six months in
advance of a draw on the credit and draws shall be repaid to the lending fund
within six months. Reimbursements must be applied against any outstanding
advances on the line of credit established under this section.
     (3) The State Treasurer may fund lines of
credit established pursuant to this section from money to the credit of other
state funds which will not be required to meet the respective obligations of
the funds during the period for which a draw under a line of credit is not
repaid, as provided in ORS 293.210.
     (4) A line of credit may operate as a
revolving fund, so that draws shall proportionately reduce and repayments shall
proportionately increase the credit remaining under the line of credit, but at
no time shall the total amount of draws against the line of credit exceed the
credit limit.
     (5) Every state agency for which a line of
credit is established shall report promptly in writing to the State Treasurer
any change in information furnished in support of the request for a line of
credit.
     (6) The State Treasurer may grant or deny,
modify or terminate a line of credit when in the judgment of the State
Treasurer it is in the best interest of the state. [1993 c.68 §2; 2003 c.16 §3]
     Note: 293.214 was added to and made a part of
293.205 to 293.225 by legislative action but was not added to any smaller
series therein. See Preface to Oregon Revised Statutes for further explanation.
     293.215
Evidencing transfers and retransfers; notification of transfer. (1) All transfers from lending to borrowing
funds under ORS 293.210 shall be evidenced by proper bookkeeping accounts kept
by the State Treasurer showing appropriate credits to the lending funds. All
retransfers shall be evidenced in like manner.
     (2) When funds are transferred under ORS
293.210, the State Treasurer shall notify the Oregon Department of
Administrative Services, the Legislative Fiscal Office, the department for
whose use the lending fund is maintained and the governing board or commission,
if any, of the department for whose use the lending fund is maintained. [Formerly
291.406; 1967 c.454 §104; 2001 c.71 §1]
     293.220
Interest on transferred moneys or credits. All moneys or credits transferred under ORS 293.210 or 293.214 shall
bear interest, until retransferred, at such rate not less than two percent per
annum as shall be agreed upon between the State Treasurer and the officer,
state department, commission, or board in charge of the borrowing fund. The
interest shall be payable from the borrowing fund and shall be credited to and
become part of the lending fund. [Formerly 291.408; 2003 c.16 §4]
     293.225
Construction of ORS 293.205 to 293.220. ORS 293.205 to 293.220 shall not be construed as an appropriation Act
and no appropriation made for any purpose shall be exceeded or increased by
reason of any of the provisions of such sections, nor shall any budgetary
designation be altered or affected by such sections. [Formerly 291.410]
COLLECTION OF
DEBTS OWED TO STATE AGENCIES
     293.227
Definitions for ORS 293.227 to 293.233. As used in ORS 293.227 to 293.233, unless the context requires
otherwise:
     (1) “Payment” means a voluntary amount of
money paid by a debtor to a state agency or an involuntary amount of money paid
by a debtor through offset or garnishment.
     (2) “State agency” means any officer,
board, commission, department, division or institution in the executive or
administrative branch of state government. [1999 c.1092 §1; 2001 c.104 §101]
     Note: 293.227 to 293.233 were enacted into law by
the Legislative Assembly but were not added to or made a part of ORS chapter
293 or any series therein by legislative action. See Preface to Oregon Revised
Statutes for further explanation.
     293.229
Liquidated and delinquent accounts of state agency; annual reports. (1) Not later than October 1 of each fiscal
year, each state agency shall submit a report to the Legislative Fiscal Office
that describes the status of that agencyÂ’s liquidated and delinquent accounts
and efforts made by that agency to collect liquidated and delinquent accounts
during the previous fiscal year. The report required under this subsection
shall be in a form prescribed by the Legislative Fiscal Office and shall
include but not be limited to:
     (a) Beginning balance and total number of
all liquidated and delinquent accounts;
     (b) New liquidated and delinquent accounts
added during the last preceding fiscal year;
     (c) Total collections of liquidated and
delinquent accounts;
     (d) Total amount and total number of
liquidated and delinquent accounts that have been written off;
     (e) Total number and ending balance of all
liquidated and delinquent accounts;
     (f) Total amount of liquidated and
delinquent accounts turned over to private collection agencies and total amount
collected by those agencies under ORS 293.231; and
     (g) Total number and total amount of all
liquidated and delinquent accounts exempted under ORS 293.233.
     (2) The Legislative Fiscal Office shall
produce an annual report not later than December 31 of each fiscal year on the
status of liquidated and delinquent accounts of state agencies. The report
shall be based on the reports submitted by state agencies as required in this
section. [1999 c.1092 §2; 2005 c.22 §219]
     Note: See note under 293.227.
     293.231
Collection of liquidated and delinquent accounts by private collection agency
or Department of Revenue; rules; fee added to debt. (1) Except as provided in subsections (4) to
(9) of this section, a state agency, unless otherwise prohibited by law, shall
offer for assignment every liquidated and delinquent account to a private
collection agency or to the Department of Revenue as provided in ORS 293.250
not later than:
     (a) Ninety days from the date the account
was liquidated if no payment has been received on the account within the 90-day
period; or
     (b) Ninety days from the date of receipt
of the most recent payment on the account.
     (2) Nothing in subsection (1) of this section
prohibits a state agency from offering for assignment a liquidated and
delinquent account to a private collection agency at any time within the 90-day
period.
     (3) If, after a reasonable time, the
private collection agency is unable to collect the account, the private
collection agency shall notify the state agency that assigned the account that
it has been unable to collect the account and shall relinquish the account to
the state agency. A private collection agency that collects an account under this
section shall be held to the same standard of confidentiality, service and
courtesy imposed on the state agency that assigned the account.
     (4) If a state agency assigns a liquidated
and delinquent account to the Department of Revenue as provided in ORS 293.250,
the department shall have six months from the date of assignment to collect a
payment. If the department does not collect a payment within that six-month
period or if six months have elapsed since the date of receipt of the most
recent payment on the account, the department shall notify the state agency.
The state agency shall then immediately offer for assignment the debt to a
private collection agency.
     (5) The provisions of subsection (1) of
this section do not apply to a liquidated and delinquent account that is
prohibited by state or federal law or regulation from assignment or collection.
     (6) The Oregon Department of
Administrative Services may adopt rules exempting specified kinds of liquidated
and delinquent accounts from the time periods established in subsections (1),
(2) and (4) of this section.
     (7) The Oregon Department of
Administrative Services shall adopt rules exempting liquidated and delinquent
accounts that originate in the Department of Revenue or the Employment
Department from the time periods established in subsections (1), (2) and (4) of
this section.
     (8) A liquidated and delinquent account
that is subject to assignment under this section shall be assigned to a private
collection agency if more than one year has elapsed without a payment on the
account.
     (9) Notwithstanding subsection (1) of this
section, a state agency may, at its discretion, choose not to offer for
assignment to a private collection agency a liquidated and delinquent account
that:
     (a) Is secured by a consensual security
interest in real or personal property;
     (b) Is a court-ordered judgment that
includes restitution or a payment to the Department of Justice Crime VictimsÂ’
Assistance Section;
     (c) Is in litigation, including
bankruptcy, arbitration and mediation;
     (d) Is a student loan owed by a student
who is attending school;
     (e) Is owed to a state agency by a local
or state government or by the federal government;
     (f) Is owed by a debtor who is
hospitalized in a state hospital as defined in ORS 162.135 or who is on public
assistance as defined in ORS 411.010;
     (g) Is owed by a debtor who is imprisoned;
     (h) Is less than $100, including
penalties; or
     (i) Would result in loss of federal
funding if assigned.
     (10) Nothing in this section prohibits a
state agency from collecting a tax offset after a liquidated and delinquent
account is assigned to a private collection agency.
     (11) For the purposes of this section, a
state agency shall be deemed to have offered for assignment an account if:
     (a) The terms of the offer are of a type
generally acceptable within the collections industry for the type of account
offered for assignment; and
     (b) The offer is made to a private
collection agency that engages in collecting on accounts of the type sought to
be assigned or is made generally available to private collection agencies
through a bid or request for proposal process.
     (12) A state agency that retains a private
collection agency under this section may add a fee to the amount of the
liquidated and delinquent account as provided in ORS 697.105. A fee may not be
added under this subsection unless the state agency has provided notice to the
debtor:
     (a) Of the existence of the debt;
     (b) That the debt may be assigned to a
private collection agency for collection; and
     (c) Of the amount of the fee that may be
added to the debt under this subsection.
     (13) Except as provided by federal law,
the state agency may not add a fee under subsection (12) of this section that
exceeds the collection fee of the private collection agency. [1999 c.1092 §3;
2001 c.218 §1; 2001 c.233 §1; 2003 c.66 §3; 2003 c.805 §1]
     Note: See note under 293.227.
     293.233
Exemption of accounts from assignment to private collection agency; rules. (1) A state agency may use rules adopted by
the Oregon Department of Administrative Services for exempting liquidated and
delinquent accounts from assignment to a private collection agency. The state
agency shall provide documentation and justification for exempting liquidated
and delinquent accounts from assignment.
     (2) The Oregon Department of
Administrative Services shall adopt rules governing the procedure that a state
agency may follow in exempting a liquidated and delinquent account from
assignment, including but not limited to adequacy of the documentation and
justification that a state agency is required to provide under this section. [1999
c.1092 §4]
     Note: See note under 293.227.
UNCOLLECTIBLE
DEBTS
     293.235
“State agency” defined for ORS 293.240 and 293.245. As used in ORS 293.240 and 293.245, “state
agency” means any state officer, board, commission, corporation, institution,
department or other state organization having power to collect state funds. [1965
c.448 §1]
     293.240
Writing off uncollectible debts due state agency. (1) If a state agency has made all
reasonable efforts to collect money owed to it, including money owed on a
liquidated and delinquent account that has been relinquished by a private
collection agency under ORS 293.231, and has determined that such money and any
interest or penalties therefor are uncollectible, in accordance with criteria
for uncollectibility formulated by the agency and approved by the Secretary of
State and the Attorney General, which criteria shall include the right of
offset, the agency may certify to the Secretary of State the amount of the
money, interest and penalties, as accurately as can be determined. The
Secretary of State may require submission by the agency of all relevant
evidence and other information regarding the debt and may examine such records of
any other state agency which may be pertinent in determining the
uncollectibility of the debt, unless such examination is prohibited by specific
provisions of law (except for the secretaryÂ’s duty to audit the state agency),
including but not limited to ORS 314.835 and 657.665.
     (2) If the Secretary of State finds that
the debt is uncollectible, in accordance with the criteria for uncollectibility
of money due to that state agency, the Secretary of State shall direct the
agency to write off the debt on its accounts in a manner approved by the
Secretary of State.
     (3) This section does not apply to debts
owed to a state agency for which a procedure for compromise, release,
discharge, waiver, cancellation or other form of settlement thereof for reasons
other than uncollectibility is by law made specially applicable to such state
agency. [1965 c.448 §2; 1971 c.604 §3; 1991 c.567 §3; 1999 c.1092 §5]
     293.245
Subsequent collection of debt written off under ORS 293.240. If a debt previously written off pursuant to
ORS 293.240 subsequently becomes collectible, the state agency to which the
money is owed shall proceed to collect the money due. The agency shall credit
the money so collected to the accounts or funds to which the debt was
originally owing. [1965 c.448 §3; 1971 c.604 §4; 2001 c.233 §2]
RECEIVING AND
HANDLING MONEYS
     293.250
Collections Unit; collection and disposition of amounts due state agencies or
counties; setoff of sums due debtor; warrants. (1) There is hereby created a Collections
Unit in the Department of Revenue.
     (2) The Department of Revenue may render
assistance in the collection of any delinquent account owing to any state
officer, board, commission, corporation, institution, department or other state
organization, or to a county pursuant to a judgment obtained under ORS 169.151,
assigned by the agency or county to which the delinquent account is owed to the
Department of Revenue for collection.
     (3)(a) Subject to rules prescribed by the
Oregon Department of Administrative Services for collection of delinquent
accounts owing to the respective officers, departments, boards and commissions
of state government, and to counties, the Department of Revenue shall render
assistance in such collection and shall charge such officers, agencies and counties
separately for the cost of such assistance, provided that charges shall not
exceed the proceeds of collection credited to such officer, agency or county
for the same biennium. The Department of Revenue may designate a single
percentage to retain from the proceeds of collection as a charge for the cost
of assistance. If the Department of Revenue finds that accounts assigned to the
Department of Revenue for collection by certain officers, agencies or counties
lack sufficient information to properly and efficiently identify the debtor or
that the account information must be put into a form usable by the Department
of Revenue in order to efficiently provide collection services, the Department
of Revenue may establish a separate percentage charge to be retained from
collections for the officer, agency or county. The charge must reflect the
average of the actual cost to provide collection services for all accounts
assigned by that officer, agency or county. In providing assistance, the
Department of Revenue shall utilize all means available to collect the
delinquent accounts including the setoff of any refunds or sums due to the
debtor from the Department of Revenue or any other state agency. The Department
of Revenue may offset any refunds or sums due to the debtor from the department
or any other state agency against delinquent accounts assigned by a county to
the department for collection under this section. The Department of Revenue may
prescribe criteria for the kinds of accounts that may be assigned under this
section, including a minimum dollar amount owed.
     (b) No setoff will be made by the
Department of Revenue unless the debt is in a liquidated amount.
     (c) When the Department of Revenue has
notified the assigning agency or county that a refund or other sum due to the
debtor is available for setoff, the debtor may arrange with the Department of
Revenue for payment of the debt in full before the setoff is made. However, the
assigning agency or county shall not enter into any agreement with the debtor
for payment of the debt before the setoff is made.
     (d) At the time any setoff is made the
debtor shall be notified by the Department of Revenue of its intention to apply
sums due from a state agency against the debtorÂ’s delinquent account. The
notice shall provide that the debtor within 30 days may request a hearing
before the claimant agency or county. No issues at the hearing may be
considered that have been litigated previously, or if the debtor after being
given due notice of rights of appeal has failed to exercise them timely.
     (e) All moneys received by the Department
of Revenue in payment of charges made under paragraph (a) of this subsection
shall be paid into the State Treasury and deposited in a miscellaneous receipts
account for the Department of Revenue.
     (f) Net proceeds of collections of
delinquent accounts shall be credited to the account or fund of the officer,
agency or county to which the debt was originally owing.
     (4)(a) In providing assistance in the
collection of any delinquent account under this section, the Department of
Revenue may issue a warrant for the collection of the delinquent account. The
warrant may be recorded in the County Clerk Lien Record maintained under ORS
205.130.
     (b) A warrant shall not be issued under
this subsection unless the debt is in a liquidated amount.
     (c) The amount of any warrant issued under
this subsection shall include the principal amount of the debt, any added
penalties or interest attributable to the delinquent account and any costs
associated with recording, indexing or service of the warrant and any
satisfaction or release thereof.
     (d) A warrant shall not be issued under
this subsection before the debtor has been notified that the department intends
to issue the warrant and of the collection action that may be taken under the
warrant.
     (5) Nothing in this section shall prohibit
the collection of:
     (a) A child or spousal support obligation
as provided in ORS 25.610; or
     (b) Criminal judgments that impose
monetary obligations, including judgments requiring the payment of fines,
costs, assessments, compensatory fines, attorney fees, forfeitures or
restitution. [1971 c.604 §2; 1977 c.603 §1; 1979 c.442 §1; 1987 c.758 §14; 1989
c.519 §7; 1995 c.512 §1; 2001 c.641 §2]
     293.255 [Formerly 291.432; repealed by 1967 c.454 §119]
     293.260
Collection of moneys and property due to state. (1) Except as otherwise specifically
provided by law, the Secretary of State shall require all persons who have
received any moneys or property belonging to the state and who have not accounted
therefor to settle their accounts and to return the moneys or property to the
state.
     (2) An account of a person who has
received any moneys or property belonging to the state, certified by the
Secretary of State, shall be received in evidence in any court in this state. [Formerly
291.434; 1967 c.454 §1; 1971 c.604 §5]
     293.262
Requiring information regarding accounts; reference to legislature. (1) The Secretary of State may require any
person to answer orally or in writing, under oath or affirmation, as to any
facts relating to an account, presented to the Secretary of State for
settlement, of a person who has received any moneys or property belonging to
the state.
     (2) At the request of any person
interested in, and dissatisfied with the decision of the Secretary of State on
an account presented to the Secretary of State for settlement, of a person who
has received any moneys or property belonging to the state, the Secretary of
State shall refer the account, the decision of the Secretary of State thereon
and the reason for the decision to the Legislative Assembly at a session
thereof. [1967 c.454 §§3,4; 1971 c.604 §6]
     293.265
Moneys collected to be turned over to State Treasurer; return of checks or
money orders; maximum amount returned set by rule; effect of indorsement “paid
in full.” (1) It shall be
the duty of the officer or other person or agent collecting, receiving, in
possession of, or having the control of any state money or other funds,
contributions or donations collected or received by, and to be expended by or
on behalf of the state under the approval or supervision of any state officer,
board, commission, corporation, institution, department or other state
organization, recognized by the laws of this state and having the power to collect
and disburse state funds, to turn over all such moneys mentioned in this
section collected or received by or on account of such state officer, board,
commission, corporation, institution, department or other state organization,
to the State Treasurer not later than one business day after collection or
receipt thereof. However, the officer, board, commission, corporation,
institution, department or other state organization may comply with this
requirement by using a reasonable, longer period for the transmittal of
particularly identified funds or categories of funds if it documents and
maintains in its official files, and submits a copy of such documentation to
the Division of Audits of the Secretary of State for review, information that a
valid business reason exists for using a longer transmittal period and that the
period is no longer than necessary to satisfy that business reason.
     (2) The deposit by or on behalf of the
state under the approval or supervision of any state officer, board,
commission, corporation, public corporation, institution, department or other
state organization of a check marked “paid in full,” “payment in full,” “full
payment of a claim” or words of similar meaning does not establish an accord
and satisfaction which binds the state or prevents the collection of the
remaining amount owed upon the obligation unless an officer or employee with
actual authority to settle claims has agreed in writing to accept the check as
full payment of a disputed obligation.
     (3) Notwithstanding the provisions of
subsection (1) of this section, subject to limits on amount adopted pursuant to
subsection (4) of this section, a state agency may return any bank check or
money order received by the agency, whenever such bank check or money order is
incomplete or the report or record applied for is not available or releasable
or the payment is not owed. The agency shall keep a record of the check or
money order returned, in the form prescribed by the Oregon Department of
Administrative Services.
     (4) After consultation with the State
Treasurer, the department shall by rule limit the return, by an agency, of a
bank check or money order under subsection (3) of this section to checks or
money orders of less than the amount specified in the rule. [Formerly 291.436;
1969 c.141 §3; 1979 c.74 §1; 1989 c.205 §1; 1997 c.122 §1]
     293.270
Record of moneys deposited under ORS 293.265; interest. (1) The State Treasurer shall create a
record of the moneys deposited with the State Treasurer pursuant to ORS 293.265
and shall place all moneys so deposited, except money which forms all or part
of any private donation or contribution, to the credit of appropriate funds or
accounts designated by law.
     (2) All money deposited with the State
Treasurer which forms all or part of any private donation or contribution shall
be placed by the State Treasurer in a separate trust fund for the use and
benefit for which such donation or contribution was made.
     (3) All interest, if any, earned by the
trust fund shall inure to the benefit of the trust fund. [Formerly 291.438;
1969 c.141 §4; 1999 c.412 §2]
     293.275
Disbursement of moneys.
Disbursements of the moneys transferred or deposited pursuant to ORS 293.265
shall be made only on warrants issued in payment of authorized claims and
expenses, as provided by law. Disbursements of moneys so deposited, which were
placed in separate trust funds, shall be made only on warrants issued in
payment of any claims or expenses authorized by the proper officers of the
board, commission, corporation, institution, department, office or other state
organization for whose benefit the trust fund was created. [Formerly 291.440;
1967 c.454 §5]
     293.280
Application of ORS 293.265 to 293.275. Except as otherwise provided by law, ORS 293.265 to 293.275 do not
apply to:
     (1) State funds advanced to meet payrolls
or to pay current expenses or emergency claims.
     (2) Federal funds the control of which is
otherwise directed by federal law or regulation.
     (3) Funds of any state institution of
higher learning. [Formerly 291.442]
     293.285
Transfers between funds, accounts or appropriations authorized for certain
interagency and intergovernmental payments. (1) Notwithstanding the provisions of ORS 293.275 or any other statute
relating to interagency payments, the Oregon Department of Administrative
Services may effect interagency payments for goods and services by transfer
from the funds, accounts or appropriations of the agency receiving such goods
or services, to the funds and accounts of the agency supplying such goods or
services.
     (2) The State Treasurer and the department
may agree upon procedures whereby they may effect intergovernmental payments
between the state and local units of government by transfer to the funds of the
local unit of government entitled to receive them from the funds, accounts or
appropriations from which the distribution is to be made. [Formerly 291.443;
1967 c.454 §6; 1983 c.104 §1]
     293.290 [Formerly 291.444; 1967 c.454 §7; 1987 c.158
§41; repealed by 1999 c.412 §4]
     293.292 [1971 c.161 §3; 1999 c.1043 §6; repealed by
2007 c.783 §234]
     293.293
Funds held in trust by court.
(1) Whenever a court is required to hold funds in trust for the benefit of any
party, all such funds shall be deposited with the State Treasurer in an account
separate and distinct from the General Fund. Interest on such funds shall be
credited to the General Fund.
     (2) Notwithstanding subsection (1) of this
section, if the amount in trust is $10,000 or more, upon motion of a party, the
court may order that the amount deposited with the State Treasurer be placed in
an interest bearing account and that the interest be credited or paid to a
party or parties, as the court deems appropriate. [1987 c.117 §1; 1989 c.966 §20]
     Note: 293.293 was enacted into law by the
Legislative Assembly but was not added to or made a part of ORS chapter 293 or
any series therein by legislative action. See Preface to Oregon Revised
Statutes for further explanation.
APPROVING AND
PAYING CLAIMS
(Approval)
     293.295
When claim against moneys in State Treasury may be paid. A claim for payment from any moneys in the
State Treasury may not be paid unless:
     (1) The claim is supported by the approval
of the state agency that incurred the obligation or made the expenditure on
which the claim is based;
     (2) Provision for payment of the claim is
made by law and appropriation;
     (3) The obligation or expenditure on which
the claim is based is authorized as provided by law; and
     (4) The claim otherwise satisfies
requirements as provided by law. [1967 c.454 §9]
     293.300
No claim to be paid if disapproved by department; exceptions. Except for claims based on obligations
incurred or expenditures made by the Legislative Assembly and its officers and
committees, the courts and their officers and committees, the Secretary of
State and State Treasurer in the performance of the functions of their
constitutional offices and the Public Defense Services Commission, a claim for
payment from any moneys in the State Treasury may not be paid if the claim is
disapproved by the Oregon Department of Administrative Services. The department
shall disapprove a claim if provision for payment thereof is not made by law
and appropriation, the obligation or expenditure on which the claim is based is
not authorized as provided by law or the claim does not otherwise satisfy
requirements as provided by law. [1967 c.454 §10; 2003 c.449 §39]
     293.305 [Formerly 291.462; repealed by 1967 c.454 §119]
     293.306
Forms and procedures for claims, warrants, checks and orders; notice of two-year
cancellation. (1) The Oregon
Department of Administrative Services may prescribe forms and procedures
consistent with law for claims subject to disapproval by the department under
ORS 293.300 and for the presentment, processing, approval and disapproval by
state agencies and the department and drawing of warrants, checks or orders in
payment of those claims. The use of forms and compliance with procedures so
prescribed is required.
     (2) The department shall require each
warrant, check and order drawn in payment of claims to have printed thereon a
statement in size equal to at least 8-point type that the warrant, check or
order shall be canceled and declared void if not presented for payment within
two years from the date of issuance. [1967 c.454 §11; 1977 c.126 §1]
     293.310 [Formerly 291.464; repealed by 1967 c.454 §119]
     293.311
Requiring information regarding claims. (1) The Oregon Department of Administrative Services may require any
person to answer orally or in writing, under oath or affirmation, as to any facts
relating to a claim subject to disapproval by the department under ORS 293.300.
     (2) The state agency that incurred the
obligation or made the expenditure on which the claim is based may require any
person to answer orally or in writing, under oath or affirmation, as to any
facts relating to a claim not subject to disapproval by the department under
ORS 293.300. [1967 c.454 §12]
     293.315 [Formerly 291.466; repealed by 1967 c.454 §119]
     293.316
Appeal of disputed claim.
Any person aggrieved by the disallowance of a claim for payment of any moneys
in the State Treasury, if the claim is subject to disapproval by the Oregon
Department of Administrative Services under ORS 293.300, or by the state agency
that incurred the obligation or made the expenditure on which the claim is
based, if the claim is not subject to disapproval by the department under ORS
293.300, may appeal the disallowance by the department or agency under ORS
183.482. [1967 c.454 §13; 1993 c.500 §60]
     293.320 [Formerly 291.468; repealed by 1967 c.454 §119]
     293.321
Limitation on time of presentment of claims. (1) A person having a claim against the state shall present the claim,
with the evidence in support thereof, to the Oregon Department of
Administrative Services or the state agency that incurred the obligation or
made the expenditure on which the claim is based within two years after the
date on which the claim accrues. However, if any federal funding arrangement
requires payment of a claim within one year, that claim, with evidence in
support thereof, must be presented within one year after the date on which the
claim accrues.
     (2) All claims, with evidence in support
thereof, presented for health services under ORS 411.710 must be presented
within one year after the date in which the claim accrues. [1967 c.454 §14;
1983 c.608 §1]
     293.325 [Formerly 291.470; repealed by 1967 c.454 §119]
     293.326
When claim allowed against state as setoff. In an action or suit brought in behalf of the state, a claim may not
be allowed against the state as a setoff unless:
     (1) The claim was presented to the Oregon
Department of Administrative Services or the state agency that incurred the
obligation or made the expenditure on which the claim is based, and approved or
disapproved as provided by law; or
     (2) It is proved to the satisfaction of
the court that the defendant, at the time of trial, is in possession of
evidence in support of the claim that the defendant could not present to the
department or state agency because of absence from the state, sickness or
unavoidable accident. [1967 c.454 §15]
     293.330
Designation of officer by state agency to approve disbursements. All boards, commissions, officers and heads
of departments of the state authorized to approve disbursements for
indebtedness or expenses may designate the secretary, or some officer of each
board or commission, or some representative or deputy of such officer or head
of department who is under bond to the State of Oregon to approve those
disbursements, provided that the indebtedness or expense has been theretofore
authorized by such board, commission, officer or head of department. Such
board, commission, officer or head of department shall file with the Oregon
Department of Administrative Services a statement designating such secretary, officer,
representative or deputy together with a sample of the designated personÂ’s
signature. [Formerly 291.472; 1967 c.454 §16]
     293.335
Designation of individual by legislative committee to approve disbursements. A statutory, standing, special or interim
committee of the Legislative Assembly or either house thereof may designate one
or more individuals to approve disbursements for which the indebtedness or
expense has been theretofore authorized by the committee. The committee shall
file with the Oregon Department of Administrative Services a statement
designating the individual, together with a sample of the individualÂ’s
signature. [Formerly 291.473; 1999 c.117 §8]
     293.340 [Formerly 291.474; repealed by 1967 c.454 §119]
     293.341
References to voucher claims as references to disbursements; filing designations
with department.
Notwithstanding any other provision of law:
     (1) Any reference in any general or
specific statute to voucher claims for indebtedness or expenses authorized by
any state agency and to approval of those voucher claims is intended to be and
shall be considered a reference to disbursements for the indebtedness or
expenses and to approval of those disbursements.
     (2) Any requirement that a statement
designating an individual to approve voucher claims referred to in subsection
(1) of this section be filed with the Secretary of State is intended to be and
shall be considered a requirement that the statement designating an individual
to approve disbursements be filed with the Oregon Department of Administrative
Services, and not with the Secretary of State. [1967 c.454 §19]
     293.345 [Formerly 291.476; repealed by 1967 c.454 §119]
     293.346
Drawing warrants. Warrants
shall be drawn in payment of claims for payment from any moneys in the State
Treasury. All warrants shall be drawn by the Oregon Department of
Administrative Services, and ORS 291.015 (2) does not apply to the drawing of
warrants by the department. [1967 c.454 §20; 1971 c.80 §1; 1993 c.741 §27]
     293.348
Charging and billing state agencies for expense of drawing and processing
warrants. The Oregon
Department of Administrative Services may charge state agencies for the drawing
of warrants and processing of receipts and transfers. The amount so charged
shall be billed to state agencies at least quarterly, and the proceeds from
such charges shall be deposited in the Oregon Department of Administrative
Services Operating Fund established by ORS 283.076. [1971 c.174 §2; 1993 c.500 §45a]
     Note: 293.348 was added to and made a part of ORS
chapter 293 by legislative action but was not added to any smaller series
therein. See Preface to Oregon Revised Statutes for further explanation.
     293.350 [Formerly 291.478; repealed by 1967 c.454 §119]
     293.351 [1967 c.454 §21; repealed by 1971 c.80 §8]
     293.353
Payment for expense of processing banking-related transactions. (1) As payment for expenses of processing
banking-related transactions, the State Treasurer may charge each state agency
having such transactions involving the State Treasury. The amount so charged
shall be determined by the number of transactions processed by the State
Treasurer and shall be paid in the manner determined by the State Treasurer to
be most efficient and cost effective. The proceeds from such charges shall be
deposited in the Miscellaneous Receipts Account established in the General Fund
for the State Treasurer, and such proceeds are continuously appropriated for
payment of expenses of the office of the State Treasurer in processing
banking-related transactions.
     (2) When the State Treasurer transfers the
assets of the local government investment pool to the state investment fund
established under ORS 293.701 (2)(o) as authorized by ORS 294.882, “state
agency,” as used in this section, includes local government participants in the
state investment fund. [1971 c.161 §2; 1975 c.410 §1; 1989 c.569 §3; 1999
c.1043 §1]
     293.355 [Formerly 291.480; renumbered 293.375]
     293.356 [1967 c.454 §22; 1983 c.740 §83; 1993 c.500 §61;
repealed by 1993 c.741 §147]
     293.360 [1967 c.454 §23; repealed by 1971 c.80 §8]
     293.365 [1967 c.454 §24; repealed by 1971 c.80 §8]
     293.370
Use of facsimile signatures by department and state agencies. (1) The Oregon Department of Administrative
Services may cause any warrant drawn by it, and any other state agency
authorized by law to draw warrants may cause any warrant drawn by the state
agency, to be signed by facsimile signature affixed by any mechanical equipment
or device. The State Treasurer shall honor any warrant presented for payment so
signed by facsimile signature as if signed manually.
     (2) Where the use of facsimile signatures
is authorized under this section, the holder or drawee of any warrant bearing
or purporting to bear a facsimile signature shall be under no duty to determine
the authority of the person who affixed the facsimile signature to use
facsimile signatures. [1967 c.454 §28; 1997 c.122 §2]
     293.375
Use of facsimile signatures by state officers and employees. (1) When authorized to use facsimile
signatures by the administrative head of any state agency, any person
authorized to sign any check, warrant or other instrument on behalf of the
state agency may, in the discretion of the person, sign the check, warrant or
other instrument by facsimile signature affixed by any mechanical equipment or
device.
     (2) Where the use of facsimile signatures
is authorized under this section, the holder or drawee of any check, warrant or
other instrument bearing or purporting to bear a facsimile signature shall be
under no duty to determine the authority of the person who affixed the
facsimile signature to use facsimile signatures. [Formerly 291.480 and then
293.355; 1997 c.122 §3]
(Payment)
     293.405 [Formerly 291.492; repealed by 2003 c.81 §14]
     293.406
Payment by State Treasurer; effect of issuance of check or warrant or
initiation of electronic funds transfer by state officer. (1) The State Treasurer shall pay on demand
all items presented to the State Treasurer for payment if there are appropriate
and sufficient funds in the State Treasury, as provided by law, to make the
payments. If a law requires that an item be paid from a particular fund, the
State Treasurer must make the payment from that fund only.
     (2) When a state officer authorizes
issuance of, or signs, a check, warrant or electronic funds transfer on behalf
of an agency, the officer is certifying that the expenditure of moneys
represented by the check, warrant or request for electronic funds transfer is
authorized by law. For purposes of this subsection, an expenditure is authorized
by law if:
     (a) There is an appropriation, whether
annual, biennial or continuous, of the moneys represented by the check, warrant
or request for electronic funds transfer;
     (b) When applicable, there is an
expenditure limitation for the moneys represented by the check, warrant or
request for electronic funds transfer;
     (c) When applicable, there is an allotment
from the Oregon Department of Administrative Services under ORS 291.232 to
291.260 for the moneys represented by the check, warrant or request for
electronic funds transfer; and
     (d) The officer or agency has received any
other approvals necessary to authorize issuance of the check, warrant or
request for electronic funds transfer.
     (3) The State Treasurer may rely on the
certification described in subsection (2) of this section and need not
investigate or inquire whether a check, warrant or request for electronic funds
transfer is authorized by law before paying the check, warrant or electronic
funds transfer.
     (4) As used in this section, “state
officer” means any person acting on behalf of a board, commission, department,
institution, branch or agency the costs of which are paid in whole or in part
from funds held in the State Treasury. [2003 c.81 §8]
     Note: 293.406 was enacted into law by the Legislative
Assembly but was not added to or made a part of ORS chapter 293 or any series
therein by legislative action. See Preface to Oregon Revised Statutes for
further explanation.
     293.410 [Formerly 291.494; repealed by 1967 c.454 §119]
     293.411 [1967 c.454 §57; repealed by 1999 c.412 §4]
     293.415 [Formerly 291.496; repealed by 1967 c.454 §119]
     293.416 [1967 c.454 §58; repealed by 1999 c.412 §4]
     293.420 [Formerly 291.498; repealed by 1967 c.454 §119]
     293.425 [Formerly 291.500; 1967 c.454 §59; 1971 c.79
§1; 1977 c.126 §2; repealed by 1993 c.694 §39]
     293.430 [Formerly 291.502; 1967 c.454 §60; repealed
by 1971 c.79 §3]
     293.435 [Formerly 291.504; 1967 c.454 §61; repealed
by 1971 c.79 §3]
     293.440 [Formerly 291.506; 1967 c.454 §62; 1971 c.79
§2; 1977 c.126 §3; 1983 c.104 §2; repealed by 1993 c.694 §39]
     293.445
Definition for ORS 293.445 to 293.460; authority to make refunds; moneys held
for refund or payment to claimants; deposit; rules; drawing checks. (1) As used in ORS 293.445 to 293.460, “agency”
means any state officer, department, commission or institution.
     (2) When any agency determines that moneys
have been received by it in excess of the amount legally due and payable to the
agency or that it has received moneys to which it has no legal interest, the
agency, within three years from the date the money was paid to the agency,
shall refund the excess or erroneous payment to the person who made the payment
or to the personÂ’s legal representative, and such moneys hereby are
continuously appropriated for such purpose.
     (3) Unless otherwise provided by law, any
agency having in its possession any moneys held for refund or payment to
claimants or distributees, or for determination or adjustment of license fees
or of other amounts due the state, may, with the consent of the State Treasurer
and in accordance with rules prescribed by the State Treasurer, deposit such
funds in designated accounts with the State Treasurer and make lawful payments
or adjustments therefrom to proper claimants or distributees, by checks or
orders drawn on the State Treasurer signed by the officer or administrative
head of the agency depositing such funds.
     (4) If the amount owed is less than a
minimum sum established by rule of the agency authorized to make the refund, any
agency by rule may provide that refunds shall be paid upon receipt of a written
request from the person who paid the money or the legal representative thereof.
[Formerly 291.508; 1983 c.246 §4]
     293.447
Establishment of accounts for purposes other than those in ORS 293.445
authorized; rules. (1) With
the consent of and in accordance with rules prescribed by the State Treasurer,
agencies may establish accounts with the State Treasurer for purposes other
than those described in ORS 293.445 (3). These accounts may be established when
required by federal law or regulation or when it is impractical for the agency
to use funds established with the Oregon Department of Administrative Services.
     (2) Unless approved by the department,
accounts established under this section shall be for deposit purposes only and
the agencies shall not have authority to order disbursements from the accounts
by check or order. Disbursements from these accounts for which the department
has not approved check or order authority shall be made by the transfer of
moneys in the account to funds for which the department may draw warrants. [1989
c.569 §2]
     293.450
Report of checks outstanding more than two years. (1) Before October 1 of each year, the
agency that maintains an account pursuant to ORS 293.445 shall prepare a report
pursuant to ORS 98.352 of all checks or orders drawn by it that have been
outstanding for a period of more than two years prior to July 1, and that have
not been paid by the State Treasurer.
     (2) The report shall not include checks or
orders that have already been paid pursuant to indemnity bonds.
     (3) The agency shall forward the report to
the Department of State Lands before November 1.
     (4) The Department of State Lands shall
not require the Department of Revenue to remit funds being held by the
Department of Revenue prior to January 1, 1994. [Formerly 291.510; 1967 c.454 §63;
1977 c.126 §4; 1993 c.500 §62; 1993 c.694 §30; 1997 c.86 §2]
     293.455
Refusal of payment of unpresented checks; duties of State Treasurer in
transferring funds; report to Department of State Lands. (1) After October 1, the State Treasurer may
refuse payment of the unpresented checks or orders included in the report
referred to in ORS 293.450. In accordance with procedures developed by the Department
of State Lands and approved by the State Treasurer, the agency shall instruct
the State Treasurer to do the following:
     (a) Transfer and credit the amounts of the
unpresented checks or orders dedicated for general funding to the General Fund.
     (b) Transfer all other funds to the
Department of State Lands for deposit in the Unclaimed Property Revolving Fund
within the Common School Fund Account.
     (c) Transfer and credit the amounts of the
unpresented checks issued under ORS chapters 316 and 317 to the Department of
State Lands for deposit in the Unclaimed Property Revolving Fund within the
Common School Fund Account.
     (2) In each instance, the State Treasurer
shall issue an official receipt for the amount so transferred or credited.
     (3) If the State Treasurer pays the owner
of an unpresented check or order included in the report referred to in ORS
293.450 before the funds are transferred to the Department of State Lands, this
information shall be reported to the Department of State Lands. [Formerly 291.512;
1967 c.454 §64; 1981 c.188 §1; 1993 c.694 §31; 1995 c.340 §1; 1997 c.86 §§3,4]
     293.460
Recourse of owners of unpaid checks. The lawful owner of any check or order included in the report referred
to in ORS 293.450, not presented to the State Treasurer for payment and not
paid, thereafter may file a claim with the Department of State Lands in the
manner provided by ORS 98.392 and 98.396. [Formerly 291.514; 1967 c.454 §65;
1981 c.188 §2; 1993 c.500 §63; 1993 c.694 §32]
     293.462
Payment of overdue account charges; rules. (1) It is the policy of the State of
     (2) The overdue account charges to be paid
under this section shall be the same as the usual overdue account charges to
the general clientele of the vendor.
     (3) Moneys appropriated from the General
Fund to an agency or the establishment of maximum limits for expenditures of an
agency authorized to procure goods or services from private businesses shall be
used to pay overdue account charges incidental to procurement of the goods or
services at the rate of two-thirds of one percent per month, but not more than
eight percent per annum on overdue claims.
     (4) Overdue claims shall be those that
have not been paid within 45 days from the latest of the following dates: The
date of the receipt of the invoice, the date of the initial billing statement
if no invoice is received, or the date the claim is made certain by agreement
of the parties or by operation of law. However, overdue account charges shall
not accrue on any purchases made by any state agency during time of civil
emergency or in the event of a natural disaster which prevents the timely
payment of accounts. In such instances accounts shall be paid in as timely a
manner as possible.
     (5) Where claims have been paid, the date
of the check or warrant in payment of the claims shall be used to determine if
the claim has been paid in a timely manner. It shall be rebuttably presumed
that the check or warrant was correctly dated.
     (6) Moneys for payment of overdue account
charges shall not be provided in the biennial budget of a state agency, but
agencies may make special requests to provide moneys for such charges,
separately from other budget requests in accordance with rules adopted by the
Oregon Department of Administrative Services.
     (7) In the event overdue account charges
cannot lawfully be paid from federal funds, then such charges shall be paid
from any moneys available to the agency for payment of administrative expenses.
If other moneys are not available to pay overdue account charges, the agency
shall submit to the Legislative Assembly during a legislative session or to the
Emergency Board during the interim between legislative sessions a request for
moneys to pay these charges. [1979 c.406 §2]
(Duplicate
Instruments)
     293.465
Definitions for ORS 293.465 to 293.485; presentation of instrument for payment. (1) As used in ORS 293.465 to 293.485:
     (a) “Instrument” means a warrant, check or
order issued by the state, or by any board, department, commission or officer
of the state, or an electronic image or record of such a warrant, check or
order.
     (b) “Subdivision” means any county,
municipal corporation, quasi-municipal corporation, or civil or political
subdivision in this state.
     (2) Subject to ORS 293.470, an instrument
may not be paid until the instrument, or the duplicate thereof issued under ORS
293.475, is presented for payment as provided by law for such instrument. [Formerly
291.516; 2005 c.110 §1]
     293.470
Payment on lost, stolen or destroyed instruments; indemnity bonds not required. (1) An instrument may be paid without
presentment if the person claiming to be the lawful owner of the instrument
satisfies the officer by whom payment is to be made that the instrument has
been lost, stolen or destroyed prior to the claimantÂ’s having received value
for the instrument or having negotiated the instrument, in compliance with ORS
293.475.
     (2) Notwithstanding subsection (1) of this
section, a person, including an officer or employee, is not required to furnish
a bond of indemnity for the amount of the lost instrument in cases of
destroyed, stolen or lost instruments, but is required to furnish a statement
as provided in ORS 293.475. [Formerly 291.518; 1967 c.221 §1; 1973 c.478 §1;
1979 c.763 §1; 2005 c.110 §2]
     293.475
Issuance of duplicate instrument; affidavit of owner, payee or representative. (1) Upon satisfactory showing by the lawful
owner of an instrument of the loss, destruction or theft of the instrument, the
proper officer, board, department or commission that issued the original
instrument, or the issuerÂ’s duly authorized legal successor, may issue a
duplicate in lieu thereof for the same amount as the original. The duplicate
shall bear the signature of the officer charged with the duty of signing
instruments as of the date of issuance of the duplicate.
     (2) Before a duplicate instrument is
issued, the person making application for its issue shall furnish to the
issuing officer a written statement signed by the person specifically alleging
that the person is the lawful owner, payee or legal representative of the
lawful owner or payee of the original instrument giving the date of issue, the number,
amount, for what services or claim the original instrument was issued and that
the original instrument has been lost, destroyed or stolen, and has not been
paid. A certificate may be furnished in lieu of an affidavit or affirmation if
the lawful owner, payee or legal representative is:
     (a) The federal government; or
     (b) This state or any board, department,
commission or subdivision of this state, or any officer thereof in official
capacity.
     (3) The officer, board, department or
commission issuing the duplicate instrument shall search its records to
determine whether the original instrument was paid. If the original instrument
is found, it shall immediately be returned to the State Treasurer or, if a
record of payment is found, the State Treasurer shall be notified immediately.
The State Treasurer shall promptly return the instrument to the presenting or
payer bank for credit or shall promptly notify the presenting or payer bank of
the record of payment. The State Treasurer is not liable for inability to
obtain credit from the presenting or payer bank for an instrument returned
under this section or for an instrument for which the State Treasurer notifies
the presenting or payer bank of a record of payment. [Formerly 291.520; 1969
c.142 §1; 1973 c.478 §2; 1979 c.763 §2; 1993 c.694 §43; 2005 c.22 §220; 2005
c.110 §3]
     293.480
Adoption of uniform procedure for issuing duplicate instruments. State officers, boards, departments or
commissions lawfully issuing instruments upon the State Treasurer may adopt the
uniform procedure of issuing and delivering to all parties entitled thereto
duplicate instruments to replace those lost, stolen or destroyed, in accordance
with ORS 293.475. [Formerly 291.522; 1969 c.142 §2; 1979 c.763 §3; 2005 c.110 §4]
     293.485
Effect of wrongful payment; liability of officer. When any instrument is paid, other than as
authorized by ORS 293.465 to 293.480, such wrongful payment shall not relieve
the political body issuing the instrument from liability to the true and lawful
owner thereof; but the officer or person making such wrongful payment and the
sureties on the official bond of the officer or person, if any, shall be
responsible to the political body represented by the officer or person in
making such payment, for the full amount of the loss occasioned thereby. [Formerly
291.524]
(Death of
Payee)
     293.490
Payment upon death of person entitled to money from state if estate not in
probate. (1) Except for
property described under ORS 98.304 to 98.436, and as otherwise directed by law,
upon the death of any person entitled to payment of money in the State Treasury
or on deposit with a state agency or officer, if the estate is not to be
administered in a court having probate jurisdiction, the State Treasurer or the
state agency or officer authorized to disburse the funds may pay or cause to be
paid the money due, as provided in subsection (3) of this section. Except as to
payment of salary or wages due a deceased state officer or employee from the
State of
     (2) Notwithstanding the provisions of
subsection (1) of this section, moneys on deposit with a state agency or
officer representing unpaid wages collected on behalf of a person by the Bureau
of Labor and Industries shall be payable pursuant to subsection (3) of this
section.
     (3) Payment authorized by subsection (1)
of this section shall be made to the following groups of survivors of the
decedent, their guardians or the conservators of their estates, in equal shares
to all survivors in a group, and in the order listed, with no payment to
survivors in any group if there is any survivor in any group preceding it as
listed:
     (a) Surviving spouse.
     (b) The trustee of a revocable inter vivos
trust created by the decedent, unless within six months after the decedent dies
a will executed by the decedent requiring distribution of the amount to a
different person is admitted to probate.
     (c) In equal shares to the children of the
decedent and to the issue of any deceased child by right of representation.
     (d) Parents.
     (e) Brothers and sisters.
     (f) Nephews and nieces. [Formerly 291.526;
1965 c.401 §1; 1973 c.823 §125; 1979 c.763 §4; 1981 c.594 §2; 1989 c.171 §39;
1993 c.694 §33; 1995 c.290 §1]
     293.495
Procedure for payment. (1)
Payment authorized by ORS 293.490 may be made only upon receipt by the State
Treasurer or other state officer authorized to disburse moneys due the decedent
of an affidavit from one of the survivors in a group of survivors listed in ORS
293.490 (3), that:
     (a) The decedent died testate or
intestate, as the case may be.
     (b) The estate of the decedent will not be
probated.
     (c) The aggregate sums due the decedent
from the State of
     (d) The relationship of the claimants to
the decedent is described in ORS 293.490 (3), specifying the particular
relationship of each claimant; that there is no other survivor in the group
that includes the claimants; and that there is no survivor in any group
preceding the group that includes the claimants as listed in ORS 293.490 (3).
     (e) The expenses of last illness and
funeral of the decedent will be paid out of the moneys so paid by the State
Treasurer or other disbursing officer, to the full amount thereof, if
necessary.
     (2) The State Treasurer or other officer
making disbursement shall be under no obligation to determine the truth of the
affidavit. The payment of the amount due such decedent, made in good faith to
the claimants, shall constitute a full acquittance and release of the State
Treasurer or other disbursing officer for the amount so paid.
     (3) In the event that a warrant, check or
order has been lost, stolen or destroyed, the proper survivors, as specified in
ORS 293.490, may obtain payment of the amount thereof by filing with the State
Treasurer or other disbursing officer a written statement in accordance with
ORS 293.475. [Formerly 291.528; 1965 c.401 §2; 1979 c.763 §5; 1981 c.594 §8;
1999 c.59 §76]
     293.500
Probate proceedings unnecessary; accounting to administrator. It shall not be necessary to institute
probate proceedings to establish the right of any of the surviving parties
named in ORS 293.490 to collect the amounts due the decedent under ORS 293.490
and 293.495; but if, after payment of such amounts, the estate of the decedent
is probated, the person receiving the moneys due the decedent shall account
therefor to the administrator of the estate of the decedent. [Formerly 291.530]
(Auditor of
Public Accounts)
     293.505
Secretary of State as Auditor of Public Accounts; claim disapproved in
performance of constitutional functions not to be paid. (1) The performance of functions as provided
by law by the Oregon Department of Administrative Services or any other state
agency in the processing, approval and disapproval of claims for payment from
any moneys in the State Treasury and in the drawing of warrants in payment
thereof does not constitute or affect the performance of constitutional
functions of the Secretary of State as Auditor of Public Accounts.
     (2) A claim for payment from any moneys in
the State Treasury may not be paid, notwithstanding approval thereof or the
drawing of a warrant in payment thereof as otherwise provided by law, if the
claim is disapproved by the Secretary of State in the performance of
constitutional functions as Auditor of Public Accounts. [1967 c.454 §29]
     293.510
Presentment of claims to Secretary of State not required. Notwithstanding any other provision of law,
the presentment of claims for payment from any moneys in the State Treasury to
the Secretary of State as Auditor of Public Accounts and the audit, allowance
or other approval of those claims by the Secretary of State as Auditor of
Public Accounts before the drawing of warrants in payment of those claims or
otherwise before payment of those claims is not required by statute. Any
reference to the audit, allowance or other approval by the Secretary of State
of those claims before payment in any general or specific statute is intended
to be and shall be considered a reference to the performance of constitutional
functions of the Secretary of State as Auditor of Public Accounts, and is not
intended to be and shall not be considered a statutory requirement that those
functions be performed before payment of those claims. [1967 c.454 §30]
     293.515
Withholding salary of state official or employee failing to settle accounts or
correct delinquencies or errors in audit reports; notice and hearing;
exemptions. (1) In the
discharge of the constitutional duties of Auditor of Public Accounts, the
Secretary of State may certify to the Governor the failure of any state
official or state employee:
     (a) To settle accounts or render such
statements as may be required with respect to the custody or disposition of
public funds or other state property; or
     (b) To correct any major delinquencies,
deficiencies, improper procedures or errors appearing in audit reports within a
reasonable time.
     (2) Within 90 days of certification to the
Governor under subsection (1) of this section, the state official or employee
responsible shall notify the Secretary of State and the Governor, in writing,
of the measures to be taken to settle accounts or render the statements under
subsection (1)(a) of this section or to correct the delinquencies,
deficiencies, improper procedures or errors in the audit reports. The Governor
may extend the 90-day period for good cause.
     (3) The Governor may issue an order
requiring the state official or employee to correct any failure certified by the
Secretary of State under subsection (1) of this section and may issue an order
withholding the payment of the salary of the official or employee until the
failure is corrected.
     (4) An order issued by the Governor to
withhold salary shall be entered only after notice, opportunity to be heard and
hearing pursuant to the provisions of ORS chapter 183 governing contested
cases.
     (5) The provisions of this section do not
apply to classified employees under the State Personnel Relations Law, the
Legislative Assembly, members of the judiciary or any statewide elected
official. [1979 c.612 §1]
     Note: 293.515 was enacted into law by the
Legislative Assembly but was not added to or made a part of ORS chapter 293 or
any series therein by legislative action. See Preface to Oregon Revised
Statutes for further explanation.
ELECTRONIC
FUNDS TRANSFERS
     293.525
Payments to and by state agencies by electronic funds transfers; rules; penalty
for failure to comply. (1)
Upon consultation with the State TreasurerÂ’s office, a state agency by rule
may:
     (a) Require that payments to the agency
above designated amounts be made by electronic funds transfer. All electronic
funds transfer entries through an automated clearinghouse shall follow
standards adopted by the State Treasurer that shall be substantially similar to
those adopted by the National Automated Clearing House Association.
     (b) Notwithstanding any provision of law
requiring payment by check or other means, establish a program under which
electronic funds transfer is the primary method for payments made by the
agency.
     (2)(a) In addition to any other penalty
provided by law, a state agency may assess a penalty not to exceed five percent
of the amount of the payment for failure to comply with the agencyÂ’s rules
requiring payments to the agency by electronic funds transfer.
     (b) An agency that adopts rules under
subsection (1)(b) of this section may not assess a penalty for failure to
comply with the rules against any payee that is unable to receive payment by
electronic funds transfer. Nothing in this paragraph authorizes a state agency
to assess a penalty for failure to comply with rules adopted under subsection
(1)(b) of this section.
     (c) An agency that adopts rules under
subsection (1)(b) of this section may not require a payee to open a bank
account as a condition of receipt of payment.
     (3) Notwithstanding subsection (1) of this
section, the Department of Revenue may not require electronic funds transfer as
the primary method for payment of:
     (a) Estimated tax, as defined in ORS
316.557;
     (b) Tax due to the department as shown on
an individual income tax return filed under ORS chapter 316; or
     (c) Refunds of overpayments issued by the
department under ORS 314.415.
     (4) As used in this section:
     (a) “Electronic funds transfer” is the
movement of funds by nonpaper means, usually through a payment system
including, but not limited to, an automated clearinghouse or the Federal
ReserveÂ’s Fedwire system.
     (b) “State agency” means an agency as
defined by ORS 183.310 (1). [1991 c.369 §§1,2; 2005 c.28 §1]
     Note: 293.525 was enacted into law by the
Legislative Assembly but was not added to or made a part of ORS chapter 293 or
any series therein by legislative action. See Preface to Oregon Revised
Statutes for further explanation.
ACCOUNTS FOR
TOBACCO SETTLEMENT MONEYS
     293.530 [1999 c.272 §1; renumbered 323.803 in 2003]
     293.533 [1999 c.272 §2; 2003 c.60 §1; 2003 c.804 §89;
renumbered 323.800 in 2003]
     293.535 [1999 c.272 §3; 2003 c.801 §21; renumbered
323.806 in 2003]
     293.537
Tobacco Settlement Funds Account; sources; uses; investment. (1) The Tobacco Settlement Funds Account is
established as an account in the General Fund. Except as provided in section 2,
chapter 11, Oregon Laws 2003, the account shall consist of all moneys paid to
this state under the Master Settlement Agreement of 1998.
     (2) Before July 1 of each odd-numbered
year, the Department of Justice shall submit for approval to the Oregon
Department of Administrative Services the estimated costs that will be incurred
by the Department of Justice in the subsequent biennium in enforcing the
provisions of ORS 180.400 to 180.455, 323.106 and 323.806. On July 1 of each
odd-numbered year, a sum equal to the amount approved by the Oregon Department
of Administrative Services shall be transferred from the Tobacco Settlement
Funds Account to the Tobacco Enforcement Fund established under ORS 180.205. If
the Department of Justice determines during a biennium that it needs funds for
purposes described in this subsection in addition to the amount approved by the
Oregon Department of Administrative Services, the Department of Justice may
request transfer of additional moneys from the Tobacco Settlement Funds Account
and the additional amount approved by the Oregon Department of Administrative
Services shall be transferred to the Tobacco Enforcement Fund.
     (3) Except as provided in subsection (2)
of this section, all moneys in the Tobacco Settlement Funds Account are
continuously appropriated to the Oregon Department of Administrative Services
to be expended as directed by the Legislative Assembly.
     (4) All moneys in the Tobacco Settlement
Funds Account shall be invested as provided in ORS 293.701 to 293.790. [2001
c.977 §§1,2,3; 2002 s.s.5 c.2 §17; 2003 c.11 §8; 2003 c.801 §24; 2007 c.853 §1]
     Note: 293.537 was enacted into law by the
Legislative Assembly but was not added to or made a part of ORS chapter 293 or
any series therein by legislative action. See Preface to Oregon Revised
Statutes for further explanation.
     293.540
Health Care Trust Fund; sources; uses; investment. (1) There is established in the State
Treasury, separate and distinct from the General Fund, the Health Care Trust
Fund. The Health Care Trust Fund shall consist of moneys, in amounts directed
by the Legislative Assembly, paid to this state by
     (2) All earnings on moneys in the Health
Care Trust Fund are continuously appropriated to the Oregon Department of
Administrative Services and shall be expended only for the purpose of financing
health programs.
     (3) Moneys in the Health Care Trust Fund
shall be invested as provided in ORS 293.701 to 293.790 and the earnings from
such investments shall be credited to the fund. Earnings shall be distributed
annually or as directed by the Director of the Oregon Department of
Administrative Services. [2001 c.986 §§1,2,3]
     Note: 293.540 was enacted into law by the
Legislative Assembly but was not added to or made a part of ORS chapter 293 or
any series therein by legislative action. See Preface to Oregon Revised
Statutes for further explanation.
DISTRIBUTING
CERTAIN FEDERAL MONEYS
     293.550
Receipt and disposition generally of federal aid moneys; deposit in special
fund. (1) The Governor may
apply for, accept and receive, or authorize any state agency to apply for,
accept and receive, financial assistance and grants from the United States or
any of its agencies, subject to the terms and conditions thereof, for financing
the cost of any federally sponsored program or project deemed beneficial to the
State of Oregon. Applications for grants, except where precluded by federal
law, shall include requests for funds adequate to accomplish the objectives of
the grant proposal including moneys to pay for the audit, or audits, of the
financial transactions as required by the grantor or state statutes. Moneys
included in a grant award budgeted for auditing the grant or program shall not
be used for any other purpose. Regulations established by the federal
government relating to such grants shall be applicable to the extent they are
not in conflict with state laws.
     (2) The Governor may disburse or supervise
the disbursement of federal aid received under the provisions of subsection (1)
of this section, or the Governor may designate a state agency to disburse or
supervise the disbursement of such federal aid.
     (3) The Governor shall deposit money
received pursuant to this section in a special fund with the State Treasurer as
provided in ORS 293.265 to 293.275. The money shall be expended, pursuant to
subsection (2) of this section, for the purposes for and in accordance with the
terms by which it is received, subject to the provisions of subsection (5) of
this section and ORS 291.260.
     (4) Subsections (1) to (3) of this section
shall not supersede the provisions of any special statute empowering a state
agency to apply for, accept and receive federal aid for any specific purpose.
     (5) Funds received under subsection (1) of
this section shall be expended subject to expenditure limitations imposed on
the receiving state agency by the Legislative Assembly or, in the absence of
such limitations, only after approval of the Legislative Assembly or of the
Emergency Board, if approval is required during the interim between sessions of
the Legislative Assembly.
     (6) In any case where prior approval of
the authority to expend any funds available under subsection (1) of this
section is imposed as a term or condition to receipt of such funds, the
Legislative Assembly or the Emergency Board may approve expenditure of such
funds prior to their receipt. [1965 c.11 §1; 1967 c.57 §1; 1979 c.456 §1]
     293.555
Receipt and disposition of moneys received from federal government in lieu of ad
valorem property taxes. The
State Treasurer shall receive any moneys that may be paid to the state by the
United States, or any agency thereof, in lieu of ad valorem property taxes, and
shall retain or transfer to the respective county treasurers the moneys so
received in compliance with the annual apportionment made by the Department of
Revenue. [Formerly 291.532]
     293.560
Apportionment among counties of moneys received from federal government from
forest reserves. (1) Except
for a distribution charge that shall be deducted to meet expenses incurred by
the Oregon Department of Administrative Services in administering this section,
all sums received by the state from the United States Government as its
distributive share of the amounts collected by the United States Government for
forest reserve rentals, sales of timber, and other sources from forest reserves
within the State of Oregon, shall, upon receipt, be distributed among the
several counties in which such forest reserves are located. The distribution
charge shall be 60 cents per county and is in addition to the transaction
charge approved for the department during the budgetary process. The amount of
the distribution charges is continuously appropriated to the department to meet
expenses incurred in administering this section.
     (2) The department shall ascertain from
the proper United States officers having the records of receipts from forest
reserves, the amount of receipts from each forest reserve in this state for
each year for which money is received by the state, less the share of each
forest reserve of the deduction made under subsection (1) of this section. A
separate account shall be kept of the sum, less the deduction, received from
each forest reserve, which sum shall be paid only to the county or counties in
which the forest reserve is located. Each county shall receive such
proportional amount of the sum as the area of the forest reserve included
within the boundaries of the county bears to the total area of the forest
reserve within the state. The department shall in all cases when possible make
all computations upon the net areas of such forest reserves according to the
data furnished by the federal officials. [Formerly 291.534; 1985 c.787 §3]
     293.565
Apportionment among counties of moneys received from federal government under
Mineral Lands Leasing Act; Federal Mineral Leases Fund. (1) Except for a distribution charge that
shall be deducted to meet expenses incurred by the Oregon Department of
Administrative Services in administering this section, all funds received from
the United States Government by the State of Oregon as its distributive share
of the amounts collected under the provisions of the Act of Congress of
February 25, 1920, 41 Stat. 437, known as the Mineral Lands Leasing Act, and
any Act amendatory thereof, shall upon receipt by the State Treasurer be
credited to a special fund in the State Treasury to be known as the Federal
Mineral Leases Fund and shall be distributed to the counties in which such
leased public lands are located. The distribution charge shall be 60 cents per
county and is in addition to the transaction charge approved for the department
during the budgetary process. The amount of the distribution charges is
continuously appropriated to the department to meet expenses incurred in
administering this section.
     (2) The department shall ascertain from
the proper
     293.570
Apportionment among counties of moneys received from federal government under
federal Flood Control Act; Federal Flood Control Leases Fund. (1) All funds received from the United
States Government by the State of Oregon as its distributive share of the
amounts collected under the federal Flood Control Act and Acts amendatory
thereof and supplemental thereto, shall upon receipt by the State Treasurer be
credited to a special fund in the State Treasury to be known as the Federal
Flood Control Leases Fund and shall be distributed to the counties in which the
leased flood control lands from which such funds were derived are located.
     (2) Prior to the distribution indicated in
subsection (3) of this section, a distribution charge shall be deducted to meet
expenses incurred by the Oregon Department of Administrative Services in
administering this section. The distribution charge shall be 60 cents per
county and is in addition to the transaction charge approved for the department
during the budgetary process. The amount of the distribution charges is
continuously appropriated to the department to meet expenses incurred in
administering this section.
     (3) The department shall ascertain from
the proper United States officers having the record of receipts from such
sources, the names of the counties in which the leased flood control lands from
which such funds have been received are located, and shall segregate and pay
over the sums, less the deduction in subsection (2) of this section, by warrant
to such counties. If such lands are located in more than one county, each shall
receive an amount proportionate to the area of the leased land within the
county. [Formerly 291.538; 1985 c.787 §5]
     293.575
Distribution of funds received under the Taylor Grazing Act; Taylor Grazing
Fund. (1) Except for a
distribution charge that shall be deducted to meet expenses incurred by the
Oregon Department of Administrative Services in administering this section, all
funds received from the United States Government as a distributive share of the
amounts collected by the United States Government under the provisions of the
Act of Congress of June 28, 1934, public document No. 482, known as the Taylor
Grazing Act, and any Act amendatory thereof shall, upon receipt by the State
Treasurer be credited to a special fund in the State Treasury to be known as the
Taylor Grazing Fund and shall be distributed to the several counties in which
such public lands are located. The distribution charge shall be 60 cents per
county and is in addition to the transaction charge approved for the department
during the budgetary process. The amount of the distribution charges is
continuously appropriated to the department to meet expenses incurred in
administering this section. The department shall ascertain from the proper
     (2) As used in this section, “animal unit
months” means the amount of forage required to sustain a bovine animal for one
month. [Formerly 606.220 and then 291.540; 1981 c.296 §1; 1985 c.787 §6]
     Note: Sections 1 and 2, chapter 958, Oregon Laws
2001, provide:
     Sec.
1. Distribution of moneys from, or based on, federal Secure Rural Schools and
Community Self-Determination Act. (1) The purpose of this section is to ensure that school districts
receive a percentage of amounts received by the state under the Secure Rural
Schools and Community Self-Determination Act of 2000 (P.L. 106-393).
     (2) The Oregon Department of
Administrative Services shall distribute all sums received by the state
pursuant to section 102(a)(2), (c)(1) and (d)(1)(A), P.L. 106-393, or based on
P.L. 106-393, to counties in the same manner as are sums derived from forest
reserve rentals, sales of timber and other sources from forest reserves under
ORS 293.560. The department shall ensure that, of the total amount distributed
to all counties in any fiscal year, the percentage distributed to each county
in any fiscal year is the same as the countyÂ’s percentage share of all payments
received by the state during the eligibility period described in section 3(2),
P.L. 106-393.
     (3) A county that receives funds from the
department pursuant to subsection (2) of this section as the countyÂ’s share of
federal funds distributed under P.L. 106-393 shall deposit 25 percent of those
funds in the county school fund or shall deposit an amount as specified in ORS
294.060 (3) to (6).
     (4) Pursuant to ORS 328.015, amounts in
the county school fund shall be distributed to the school districts in the
county based on the resident average daily membership of the school districts.
[2001 c.958 §1; 2003 c.226 §19; 2007 c.891 §1]
     Sec.
2. Section 1, chapter 958,
Oregon Laws 2001, is repealed on July 1, 2013. [2001 c.958 §2; 2007 c.891 §2]
ACCOUNTING
AND FISCAL REPORTING
     293.590
Department to supervise state agency accounting; furnishing accounting
services. (1) The Oregon
Department of Administrative Services shall direct and control the accounting
for all the fiscal affairs of the state government and agencies thereof, and
shall provide for the maintenance of accounting records, including accounts
stated in summary or in detail, for those fiscal affairs. The department is
responsible for establishing and maintaining systems of accounting for state
government and agencies thereof. The principles, standards and related
requirements of those systems of accounting shall be as prescribed by the
department and except as otherwise provided in this section shall be used by
the state agencies thereof, unless otherwise directed by the department.
     (2) In performing its functions under
subsection (1) of this section, the department shall consult with the Secretary
of State, State Treasurer and, to the extent it considers necessary or
desirable, any other state agency or any federal agency.
     (3) The department may, as its own
facilities permit, furnish to any other state agency such accounting services
(including labor), facilities and materials as are necessary, as determined by
the department, for compliance by the state agency with subsection (1) of this
section. The cost to the department of furnishing the services, facilities and
materials, as determined by the department, shall be charged to the state
agency and paid to the department in the same manner as other claims against
the state agency are paid.
     (4) This section is applicable to the
Legislative Assembly and its officers and committees, the courts and their
officers and committees, the Secretary of State and State Treasurer in the
performance of the functions of their constitutional offices and the Public
Defense Services Commission only at their option. [1967 c.454 §68; 1969 c.379 §1;
2003 c.449 §40]
     293.595
Supervision of data processing equipment for accounting system; other uses. The Oregon Department of Administrative
Services shall control and supervise the acquisition, installation and use of
all electronic or automatic data processing equipment to be used primarily for
the purposes of the accounting records and system referred to in ORS 293.590.
The adequacy and capacity of that equipment for purposes of the performance of
constitutional functions of the Secretary of State as Auditor of Public
Accounts shall be as determined by and under the control of the Secretary of
State. The department shall authorize use of that equipment for other purposes
to the extent that use for those other purposes does not conflict with use for
the primary purpose of the accounting records and system. [1967 c.454 §69]
     293.600
Financial and statistical reports by state agencies. (1) As used in this section, “state agency”
means every state officer, board, commission, department, institution, branch
or agency of state government whose costs are paid wholly or in part from funds
held in the State Treasury.
     (2) The Oregon Department of
Administrative Services may require periodic and special financial and
statistical reports from all state agencies, upon forms which the department
may prescribe, in order to assist the department in performing its fiscal
functions. [1967 c.454 §70; 2001 c.71 §2]
     293.605
Fiscal year. (1) The fiscal
year of this state shall commence on July 1 and close on June 30 of each year.
All the accounts of the Oregon Department of Administrative Services, Secretary
of State and State Treasurer shall be kept and all duties of the department and
those officers shall be performed with reference to the beginning and end of
the fiscal year.
     (2) Whenever it is provided by law that
any action or proceeding of the state shall be taken with respect to a budget
or tax levy for the calendar year, or for a fiscal year closing on any day
other than June 30, each such action or proceeding shall be taken with respect
to the fiscal year commencing on July 1 and closing on June 30. [Formerly
291.552; 1967 c.454 §66]
     293.610 [Formerly 291.554; repealed by 1967 c.454 §119]
     293.611
Accounts and records of Secretary of State as Auditor of Public Accounts. The Secretary of State shall cause to be
maintained accounts and records the Secretary of State considers necessary in
the performance of constitutional functions as Auditor of Public Accounts. [1967
c.454 §72]
     293.615 [Formerly 291.556; repealed by 1967 c.454 §119]
     293.616
Accounts and records of State Treasurer. The State Treasurer shall cause to be maintained accounts and records
of all moneys received and disbursed by the State Treasurer. [1967 c.454 §73]
     293.620
Monthly account of and payment by custodians of state property. All persons, state institutions,
commissions, commissioners, departments, boards, and state officers or agents,
handling or having the custody or control of any property belonging to the
state or to any state institution, board, commission, or department, shall
account for and pay over to the State Treasurer monthly all moneys received
from the income or rents of such property or from the sale and disposition of
surplus products, useless and condemned property, with a verified itemized
statement of the source from which the moneys were derived; but this section
shall not be construed to include the funds belonging to educational
institutions derived from tuition, matriculation or other fees charged
students. [Formerly 291.564]
     293.625
Statements to be rendered to Secretary of State. The Secretary of State shall from time to
time require all persons receiving moneys or securities, or having the
disposition or management of any property of the state, of which an account is
kept in the office of the Secretary of State, to render statements thereof to
the Secretary of State. All such persons shall render such statement at such
time and in such form as the Secretary of State requires. [Formerly 291.566]
     293.630
Date for closing accounts by persons who must make annual accounts. All officers and persons required to render
annual accounts to the Secretary of State or State Treasurer shall close these
accounts on June 30 of each year. [Formerly 291.568]
     293.635 [Formerly 291.570; repealed by 1967 c.454 §119]
     293.640
Period covered by biennial reports. The biennial report of any state officer or agency required to be
submitted to the Legislative Assembly or the Governor shall cover the biennial
period closing on June 30 next preceding the regular session of the Legislative
Assembly. [Formerly 291.572; 1967 c.454 §77]
     293.644 [1967 c.454 §74; repealed by 1975 c.605 §33]
     293.645 [Formerly 291.574; repealed by 1967 c.454 §119]
     293.648 [1967 c.454 §75; repealed by 1975 c.605 §33]
     293.650 [Formerly 291.575; 1967 c.335 §31; repealed
by 1967 c.454 §119]
     293.652 [1967 c.454 §76; 1971 c.267 §3; repealed by
1975 c.605 §33]
     293.655 [Formerly 291.576; 1993 c.98 §13; repealed
by 1995 c.452 §17]
     293.660
Determining date of filing or receipt of reports, claims, tax returns or
remittances. (1) Any report,
tax return, remittance to cover a payment or claim for credit or refund
required by law to be filed with or made to the state or to a state agency,
which is:
     (a) Transmitted through the United States
mail or by private express carrier, shall be deemed filed or received on the
date shown by the cancellation mark or other record of transmittal, or on the
date it was mailed or deposited for transmittal if proof satisfactory to the
state or state agency establishes that the actual mailing or deposit occurred
on an earlier date. If filed or received by check or draft through an automated
payment processing system, including but not limited to commercial bank lockbox
services, the date of filing or receipt shall be deemed to be the fifth day
prior to the system processing date.
     (b) Lost in transmission through the
United States mail or private express carrier, shall be deemed filed and
received on the date it was mailed or deposited for transmittal if the sender:
     (A) Can establish by competent evidence
satisfactory to the state or state agency that the report, tax return,
remittance or claim for credit or refund was deposited on the date due for
filing in the United States mail or with a private express carrier, and
addressed correctly to the state or state agency; and
     (B) Files with the state or state agency a
duplicate of the lost report, return, remittance or claim within 30 days after
written notification is given by the state or state agency of its failure to
receive such document or remittance.
     (2) As used in subsection (1) of this
section, “private express carrier” means a common carrier that transports small
parcels in an expedited manner and has one or more of the following
characteristics:
     (a) Same day pickup and delivery.
     (b) Expedited pickup and delivery.
     (c) Residential door-to-door pickup and
delivery.
     (d) Special or unique handling and
packaging features designed to meet a special need. [Formerly 291.578; 1993
c.44 §1]
INVESTING
STATE FUNDS
     293.701
Definitions for ORS 293.701 to 293.820. As used in ORS 293.701 to 293.820, unless the context requires
otherwise:
     (1) “Council” means the Oregon Investment
Council.
     (2) “Investment funds” means:
     (a) Public Employees Retirement Fund
referred to in ORS 238.660;
     (b) Industrial Accident Fund referred to
in ORS 656.632;
     (c) Consumer and Business Services Fund
referred to in ORS 705.145;
     (d) Employment Department Special
Administrative Fund referred to in ORS 657.822;
     (e) Insurance Fund referred to in ORS
278.425;
     (f) Funds under the control and
administration of the Department of State Lands;
     (g) Oregon Student Assistance Fund
referred to in ORS 348.570;
     (h) Moneys made available to the
Commission for the Blind under ORS 346.270 and 346.540 or rules adopted
thereunder;
     (i)
     (j) Oregon War Veterans’ Fund referred to
in ORS 407.495;
     (k) Oregon War Veterans’ Bond Sinking
Account referred to in ORS 407.515;
     (L) World War II Veterans’ Compensation
Fund;
     (m) World War II Veterans’ Bond Sinking
Fund;
     (n) Savings and loan association funds in
the hands of the Director of the Department of Consumer and Business Services;
     (o) Funds in the hands of the State
Treasurer that are not required to meet current demands;
     (p) State funds that are not subject to
the control and administration of officers or bodies specifically designated by
law;
     (q) Funds derived from the sale of state
bonds;
     (r) Social Security Revolving Account
referred to in ORS 237.490;
     (s) Investment funds of the State Board of
Higher Education lawfully available for investment or reinvestment;
     (t) Local Government Employer Benefit
Trust Fund referred to in ORS 657.513;
     (u) Elderly and Disabled Special
Transportation Fund established by ORS 391.800;
     (v) Education Stability Fund established
by ORS 348.696;
     (w) Deferred Compensation Fund established
under ORS 243.411; and
     (x) Trust for Cultural Development Account
established under ORS 359.405.
     (3) “Investment officer” means the State
Treasurer in the capacity as investment officer for the council. [1967 c.335 §1;
1967 c.399 §5; 1971 c.408 §1; 1975 c.363 §1a; 1975 c.471 §1a; 1977 c.491 §11;
1977 c.892 §31; 1979 c.814 §3; 1980 c.19 §2; 1981 c.660 §47; 1985 c.565 §48;
1985 c.731 §25; 1985 c.759 §38; 1985 c.816 §14; 1987 c.373 §28; 1987 c.616 §6;
1987 c.652 §17; 1989 c.224 §49; 1989 c.597 §8; 1991 c.459 §378; 1993 c.18 §58;
1993 c.210 §19; 1995 c.12 §3; 1997 c.179 §21; 1999 c.274 §21; 1999 c.1078 §67;
2001 c.922 §14; 2001 c.954 §25; 2002 s.s.3 c.6 §9; 2003 c.67 §35a; 2003 c.625 §30;
2003 c.733 §82]
     293.705 [Formerly 291.604; 1965 c.285 §63; 1967
c.399 §1; repealed by 1967 c.335 §60 and 1967 c.399 §4]
     293.706
     (2) The Governor shall appoint four voting
members, subject to Senate confirmation in the manner provided in ORS 171.562
and 171.565. The members appointed by the Governor must be qualified by
training and experience in the field of investment or finance.
     (3) The Governor may appoint a member of
the council under subsection (2) of this section who is also a member of the
Public Employees Retirement Board appointed under ORS 238.640 (4). Except as
provided in this subsection, members appointed by the Governor may not hold any
other public office or public employment.
     (4) The State Treasurer shall be a voting
member.
     (5) The Director of the Public Employees
Retirement System shall be an ex officio member of the council with no voting
power.
     (6) The term of office of each appointed
member of the council is four years, but each appointed member serves at the
pleasure of the Governor. A vacancy in the appointed membership occurring other
than by expiration of term shall be filled in the same manner as the original
appointment, but for the unexpired term only.
     (7) An appointed member may not be
appointed to more than two full terms in any 12-year period. [1967 c.335 §2;
1987 c.877 §1; 2001 c.217 §1; 2003 c.69 §3; 2003 c.625 §§24,25; 2005 c.180 §§1,2;
2007 c.623 §2]
     293.707 [1965 c.359 §9; repealed by 1967 c.335 §60]
     293.708
Conflicts of interest for council members. (1) As used in this section:
     (a) “Business” has the meaning given that
term in ORS 244.020.
     (b) “Business with which the person is
associated” has the meaning given that term in ORS 244.020.
     (c) “Relative” has the meaning given that
term in ORS 244.020.
     (2) When a person who is a member of the
Oregon Investment Council becomes aware that action on a matter pending before
the council might lead to private pecuniary benefit or detriment to the person,
to a relative of the person or to a business with which the person or a
relative of the person is associated, the member shall notify in writing the
State Treasurer or the Chief Deputy State Treasurer that any action, decision
or recommendation by the member might constitute an actual or potential
conflict of interest. The member shall provide the notice not later than three
business days after the member becomes aware of the possibility of an actual or
potential conflict.
     (3) Subsection (2) of this section does
not apply if the pecuniary benefit or detriment arises out of circumstances
described in ORS 244.020 (11)(a) to (c).
     (4) Complaints of violations of this
section may be made to the Oregon Government Ethics Commission for review and
investigation as provided by ORS 244.260 and for possible imposition of civil
penalties as provided by ORS 244.350 or 244.360.
     (5) Nothing in this section excuses a
member of the council from compliance with ORS 244.120. [2005 c.179 §2; 2007
c.865 §21; 2007 c.877 §38]
     Note: 293.708 was added to and made a part of
293.701 to 293.820 by legislative action but was not added to any smaller
series therein. See Preface to Oregon Revised Statutes for further explanation.
     293.710 [Formerly 291.606; repealed by 1967 c.335 §60]
     293.711
Compensation and expenses of council members; chairperson. (1) Except as provided in subsection (2) of
this section, a member of the Oregon Investment Council is entitled to
compensation and expenses as provided in ORS 292.495.
     (2) A member of the council who is also a
member of the Public Employees Retirement Board is entitled to compensation and
expenses as provided in ORS 238.640 (7) and (8).
     (3) The council shall select one of its
members as chairperson, for a term and with powers and duties necessary for the
performance of the functions of the office as the council determines.
     (4) A person may not serve as chairperson
of the council for more than four years in any 12-year period. [1967 c.335 §§3,4;
1969 c.314 §19; 2001 c.217 §2; 2003 c.69 §4; 2003 c.625 §§26,27; 2005 c.180 §§3,4;
2007 c.623 §3]
     293.713
When compensation of council member as director of business prohibited. A member of the Oregon Investment Council is
prohibited from accepting compensation for service, except per diem and
reimbursement for travel expenses, on the board of directors of any business in
which the state has an equity interest, other than publicly traded common
stock. [1993 c.718 §3]
     Note: 293.713 was enacted into law by the
Legislative Assembly but was not added to or made a part of ORS chapter 293 or
any series therein by legislative action. See Preface to Oregon Revised
Statutes for further explanation.
     293.714
Council meetings; recordings; logs. (1) Notwithstanding ORS 192.650 (1) and (2), full sound recordings
shall be made of every meeting of the Oregon Investment Council. The full sound
recordings shall be produced on equipment selected by the Oregon Investment
Council for compatibility with equipment for reproduction by the State
Archives.
     (2) The council shall maintain a written
log of each sound recording that gives a true reflection of the matters
discussed at the meeting and where those matters are found on the sound recording.
     (3) Notwithstanding ORS 192.650 (1), the
council shall make the full sound recording and written log of each sound
recording of each meeting available to the public prior to the next regularly
scheduled meeting of the council. [2005 c.180 §5]
     Note: 293.714 was enacted into law by the
Legislative Assembly but was not added to or made a part of ORS chapter 293 or
any series therein by legislative action. See Preface to Oregon Revised
Statutes for further explanation.
     293.715 [Formerly 291.607; repealed by 1967 c.335 §60]
     293.716
State Treasurer is investment officer for council; subordinate personnel;
bonds. (1) The State
Treasurer is the investment officer for the Oregon Investment Council, 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 the State Treasurer by law shall be deemed to extend to the
faithful performance of all functions of the office of investment officer.
     (3) The investment officer may:
     (a) Subject to any applicable provision of
the State Personnel Relations Law, employ, prescribe the functions and fix the
compensation of personnel necessary to facilitate and assist in carrying out
the functions of the council and investment officer.
     (b) Require a fidelity bond of any person
employed by the investment officer who has charge of, handles or has access to
any investment funds, state money or property. The amounts of the bonds shall
be fixed by the investment officer, except as otherwise provided by law, and
the sureties shall be approved by the investment officer. The premiums on the
bonds shall be an expense of the State Treasurer. [1967 c.335 §5]
     293.718
Payment of expenses of State Treasurer. As payment for expenses of the investment officer, the State Treasurer
may deduct monthly a maximum of 0.25 basis points of the most recent market
value of assets under management for each of the investment funds. However, for
the funds described in ORS 293.701 (2)(o), a maximum of 0.435 basis points may
be deducted monthly. Amounts so deducted shall be deposited into the
Miscellaneous Receipts Account established in the General Fund for the State
Treasurer, and are continuously appropriated for payment of the expenses of the
State Treasurer as investment officer. [1969 c.466 §2; 1989 c.319 §3; 1995
c.288 §1; 1999 c.1043 §2; 2001 c.716 §24]
     293.720 [Formerly 291.608; repealed by 1967 c.335 §60]
     293.721
General objective of investments. Moneys in the investment funds shall be invested and reinvested to
achieve the investment objective of the investment funds, which is to make the
moneys as productive as possible, subject to the standard set forth in ORS
293.726. [1967 c.335 §6]
     293.723
Discrete investment of moneys.
(1) Moneys in a fund established by law may not be discretely invested unless
the law establishing the fund specifically indicates that the moneys may be
invested. A provision in a law establishing a fund that requires interest
earned by the fund to be retained by the fund is not, by itself, a specific
indication that the moneys in the fund may be discretely invested.
     (2) As used in this section, “discretely
invested” means invested in something other than the state investment fund
established under ORS 293.701 (2)(o). [2007 c.217 §2]
     Note: 293.723 was added to and made a part of
293.701 to 793.820 by legislative action but was not added to any smaller
series therein. See Preface to Oregon Revised Statutes for further explanation.
     293.726
Standard of judgment and care in investments; investment in corporate stock. (1) The investment funds shall be invested
and the investments of those funds managed as a prudent investor would do,
under the circumstances then prevailing and in light of the purposes, terms,
distribution requirements and laws governing each investment fund.
     (2) The standard stated in subsection (1)
of this section requires the exercise of reasonable care, skill and caution,
and is to be applied to investments not in isolation but in the context of each
investment fundÂ’s investment portfolio and as a part of an overall investment
strategy, which should incorporate risk and return objectives reasonably
suitable to the particular investment fund.
     (3) In making and implementing investment
decisions, the Oregon Investment Council and the investment officer have a duty
to diversify the investments of the investment funds unless, under the
circumstances, it is not prudent to do so.
     (4) In addition to the duties stated in
subsection (3) of this section, the council and the investment officer must:
     (a) Conform to the fundamental fiduciary
duties of loyalty and impartiality;
     (b) Act with prudence in deciding whether
and how to delegate authority and in the selection and supervision of agents;
and
     (c) Incur only costs that are reasonable
in amount and appropriate to the investment responsibilities imposed by law.
     (5) The duties of the council and the
investment officer under this section are subject to contrary provisions of
privately created public trusts the assets of which by law are made investment
funds. Within the limitations of the standard stated in subsection (1) of this
section and subject to subsection (6) of this section, there may be acquired,
retained, managed and disposed of as investments of the investment funds every
kind of investment which persons of prudence, discretion and intelligence
acquire, retain, manage and dispose of for their own account.
     (6) Notwithstanding subsection (1) of this
section, not more than 50 percent of the moneys contributed to the Public
Employees Retirement Fund or the Industrial Accident Fund may be invested in
common stock, and not more than 65 percent of the moneys contributed to the
other trust and endowment funds managed by the Oregon Investment Council or the
State Treasurer may be invested in common stock.
     (7) Subject to the standards set forth in
this section, moneys held in the Deferred Compensation Fund may be invested in
the stock of any company, association or corporation, including but not limited
to shares of a mutual fund. Investment of moneys in the Deferred Compensation
Fund is not subject to the limitation imposed by subsection (6) of this
section. [1967 c.335 §7; 1971 c.53 §1; 1973 c.385 §1; 1981 c.880 §12; 1983
c.456 §1; 1983 c.466 §1; 1987 c.759 §1; 1993 c.18 §59; 1993 c.75 §1; 1997 c.129
§2; 1997 c.179 §22; 1997 c.804 §5; 2005 c.294 §1]
     293.731
Council to formulate and review investment policies; exception. Subject to the objective set forth in ORS
293.721 and the standards set forth in ORS 293.726, the Oregon Investment
Council shall formulate policies for the investment and reinvestment of moneys
in the investment funds and the acquisition, retention, management and
disposition of investments of the investment funds. The council, from time to
time, shall review those policies and make changes therein as it considers
necessary or desirable. The council may formulate separate policies for any
fund included in the investment funds. This section does not apply to the
Oregon Growth Account, the Oregon Growth Account Board, the Oregon
Commercialized Research Fund, the Oregon Innovation Fund or the Oregon
Innovation Council. [1967 c.335 §8; 1993 c.210 §20; 1999 c.42 §1; 1999 c.274 §18;
2001 c.835 §9; 2001 c.922 §§15a,15b; 2005 c.748 §§15,16]
     293.733
Venture capital investments; councilÂ’s duty. (1) In making and implementing investment decisions related to venture
capital, the Oregon Investment Council and the investment officer have a duty
to look first at Oregon opportunities for diversification unless, under the
circumstances, it is not prudent to do so.
     (2) At any given time, the council shall
have at least $100 million in venture capital investments in
     (3) As used in this section:
     (a) “Emerging growth business” has the
meaning given that term in ORS 348.701.
     (b) “Venture capital” includes but is not
limited to emerging growth businesses. [2003 c.606 §3]
     Note: 293.733 was added to and made a part of
293.701 to 293.820 by legislative action but was not added to any smaller
series therein. See Preface to Oregon Revised Statutes for further explanation.
     293.734
Report on venture capital investments. The Oregon Investment Council shall submit an annual report to the
Speaker of the House of Representatives and the President of the Senate
detailing the investments and commitments made by the council in accordance
with ORS 293.733. [2003 c.606 §5]
     Note: 293.734 was enacted into law by the
Legislative Assembly but was not added to or made a part of ORS chapter 293 or
any series therein by legislative action. See Preface to Oregon Revised
Statutes for further explanation.
     293.735 [Formerly 291.610; repealed by 1967 c.335 §60]
     293.736
Duties of investment officer.
(1) Except as provided in ORS 293.741, 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 funds and acquire, retain, manage, including exercise of any voting
rights, and dispose of investments of the investment funds.
     (2) Subject to the direction of the
council, the investment officer shall perform the functions described in
subsection (1) of this section with respect to the investment in mutual funds
of moneys in the Deferred Compensation Fund. The council must approve all
mutual funds in which Deferred Compensation Fund moneys are invested. [1967
c.335 §9; 1997 c.179 §23; 2005 c.295 §1]
     293.740 [Formerly 291.611; repealed by 1967 c.335 §60]
     293.741
Council may contract with others to perform investment officer functions;
compensation; bond. 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 or in addition to the investment officer, to perform the functions
specified in ORS 293.736 to the extent provided in the contract. Performance of
functions under a contract shall be paid for out of the gross interest or other
income of the investments with respect to which the functions are performed,
and the net interest or other income of the investments after that payment
shall be considered income of the investment funds. The council may require a
person contracted with to give to the state a fidelity bond in a penal sum as
may be fixed by law or, if not so fixed, as may be fixed by the council, with
corporate surety authorized to do business in this state. Contracts entered
into under this section and functions performed under the contracts are not
subject to ORS chapter 240 or ORS 279A.140. [1967 c.335 §10; 2003 c.794 §248;
2005 c.295 §2]
     293.745 [Formerly 291.612; repealed by 1967 c.335 §60]
     293.746
Opinion of bond attorney or Attorney General; investment counseling and
mortgage services. (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 General, certifying to the legality of
the bonds.
     (2) The Oregon Investment Council may
arrange for the furnishing to the investment officer of investment counseling
services. The furnishing and acquisition of those services are not subject to
the State Personnel Relations Law or ORS 279A.140.
     (3) The investment officer, with the
approval of the council, may arrange for services with respect to mortgages in
which moneys in the investment funds are invested. Those services shall be paid
for out of the gross interest of the mortgages with respect to which the
services are furnished, and the net interest of the mortgages after that
payment shall be considered income of the investment funds. The furnishing and
acquisition of those services are not subject to the State Personnel Relations
Law or ORS 279A.140. [1967 c.335 §11; 2003 c.794 §249]
     293.750 [Formerly 291.613; repealed by 1967 c.335 §60]
     293.751
Custody of title instruments; deposit for safekeeping; form; collection and
disposition of principal and interest; default proceedings. (1) Except as provided in ORS 293.741 and
this subsection, all instruments of title of all investments of the investment
funds 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 title that the State Treasurer considers advisable, to be held
in safekeeping by the agents or banks for collection of the principal and
interest or other income, or of the proceeds of sale or maturity. For purposes
of this section, instruments of title of investments of the investment funds
may include such evidence of title as the investment officer shall consider
secure and consistent with modern investment, banking and commercial practices,
and may include book entry and automated recordation of such title.
     (2) Except as provided in ORS 293.741 and
293.746 (3) and subsections (1) and (3) of this section, the investment officer
shall collect the principal and interest or other income of investments of the
investment funds, title of which is in the investment officerÂ’s custody, when
due and payable, and shall pay the principal and interest or other income, when
so collected, into the appropriate fund. Except as otherwise provided by law,
interest or other income of investments of funds in the hands of the State
Treasurer that are not required to meet current demands shall be paid into the
General Fund to be available for the payment of general governmental expenses.
     (3) In the event of default in the payment
of principal or interest or other income of any investment of the investment
funds, the investment officer, with the approval of the Oregon Investment
Council, may:
     (a) Institute the proper proceedings to
collect the matured principal or interest or other income.
     (b) Accept for exchange purposes refunding
bonds or other evidences of indebtedness at interest rates to be agreed upon by
the investment officer and obligor.
     (c) Make compromises, adjustments or
disposition of the matured principal or interest or other income as the
investment officer considers advisable for the purpose of protecting the moneys
invested.
     (d) Make compromises or adjustments as to
future payments of principal or interest or other income as the investment
officer considers advisable for the purposes of protecting the moneys invested.
[1967 c.335 §12; 1979 c.475 §1; 1981 c.194 §2; 1991 c.88 §3]
     293.755 [Formerly 291.614; repealed by 1967 c.335 §60]
     293.756
Separate accounting for funds.
The investment officer shall keep, for each fund included in the investment
funds for which investments are made, a separate account, which shall record
the individual amounts and the totals of all investments of moneys in the fund.
[1967 c.335 §13]
     293.760 [Formerly 291.616; repealed by 1967 c.335 §60]
     293.761
Reports by investment officer with respect to funds. The investment officer shall report
quarterly to the officer or body having control and administration of each fund
included in the investment funds the changes in investments made during the
preceding month for the fund. If requested by the officer or body, the
investment officer shall furnish to the officer or body the details on the
investment transactions for any fund. The investment officer shall separately
identify investments held in the Oregon Growth Account established in ORS
348.702, the Oregon Resource and Technology Development Subaccount established
in ORS 348.706 and the Oregon Commercialized Research Fund created in ORS 284.725
as part of the report on the Education Stability Fund required by this section.
[1967 c.335 §14; 1993 c.210 §21; 1999 c.42 §2; 1999 c.274 §19; 2001 c.835 §11;
2001 c.922 §§16a,16b; 2002 s.s.3 c.6 §§10,11; 2005 c.748 §§17,18]
     293.765 [Formerly 291.618; repealed by 1967 c.335 §60]
     293.766
Monthly reports by investment officer to council. Not later than 15 days after the last day of
each month, the investment officer shall submit to the Oregon Investment
Council a report of the investments made during the preceding month. The report
shall include a detailed summary of investment, reinvestment, purchase, sale
and exchange transactions, setting forth, among other matters, the investments
bought, sold and exchanged, the dates thereof, the prices paid and obtained,
the names of the dealers involved and a statement of the accounts referred to
in ORS 293.756. The investment officer may send copies of the report to
investment bankers and brokers recommended by the council. [1967 c.335 §15]
     293.770 [Formerly 291.620; repealed by 1967 c.335 §60]
     293.771
Reports by council to Governor and legislature. The Oregon Investment Council shall report
to the Governor and Legislative Assembly on the investment funds investment
program at each regular session of the Legislative Assembly and at other times
as the council considers in the public interest. [1967 c.335 §16]
     293.775 [1963 c.520 §3; repealed by 1967 c.335 §60]
     293.776
Examination and audit of investment program; report. The Oregon Investment Council shall provide
for an examination and audit of the investment funds investment program, and
for submission to the council of a report based on the examination and audit,
at least once every four years and at other times as the council may require.
The examination and audit, and the report based thereon, shall include an
evaluation of current investment funds investment policies and practices and of
specific investments of the investment funds in relation to the objective set
forth in ORS 293.721, the standard set forth in ORS 293.726 and other criteria
as may be appropriate, and recommendations relating to the investment funds
investment policies and practices and to specific investments of the investment
funds as are considered necessary or desirable. The council shall make copies
of the report or a summary thereof available for distribution to interested
persons. [1967 c.335 §17]
     293.778
Investment holding companies; use; directors and officers; effect of conflict
of interests. (1) The
investment officer singly, or jointly with other public or institutional
investors, may authorize establishment of investment holding companies, which
may be corporations, partnerships or limited liability companies, and placement
of investment funds or investments in such companies, when it is appropriate to
do so under the investment standard prescribed in ORS 293.726. An investment
holding company authorized by this section has the powers and authority granted
by the laws of the jurisdiction in which the company is established.
     (2) Any person qualified under the laws of
the jurisdiction in which an investment holding company is established may
serve as an officer, director, member or manager of the company. Officers and
employees of the office of the State Treasurer may serve as directors, officers
and members of investment holding companies authorized by this section.
However, if a conflict arises between the duties of the officer or employee of
the office of the State Treasurer under state law and the duties of the officer
or employee of the office of the State Treasurer as a director, officer or
member of the investment holding company, the officer or employee shall abstain
from acting on behalf of the company. If the conflict cannot be avoided by
abstention, the officer or employee shall immediately resign from the company. [1993
c.76 §2; 1999 c.481 §1]
     293.780
Group annuity contracts with insurers on behalf of Public Employees Retirement
System and Board. The Oregon
Investment Council, for and on behalf of the Public Employees Retirement System
and Public Employees Retirement Board, may enter into group annuity contracts
with one or more insurance companies authorized to do business in this state.
In lieu of any investment of moneys in the Public Employees Retirement Fund as provided
in ORS 293.701 to 293.820, the council may pay, from time to time under
contracts so entered into, any moneys in that fund available for investment
purposes. Contracts so entered into are not subject to ORS 279A.140. [1967
c.335 §18; 2003 c.794 §250]
     293.790
Holding, investing and disposing of corporate stock. (1) Under authority of section 6, Article XI
of the Oregon Constitution, the state, subject to subsection (2) of this
section, may hold and dispose of the stock of any company, association or
corporation, including stock already received, that is donated or bequeathed
and the state, acting by and through the State Board of Higher Education,
subject to subsection (2) of this section, may invest and reinvest in the stock
of any company, association or corporation, any funds or moneys of the State
Board of Higher Education that:
     (a) Are or have been donated or bequeathed
for higher education purposes;
     (b) Are the proceeds from the disposition
of stock that is donated or bequeathed for higher education purposes, including
stock already received; or
     (c) Are dividends paid with respect to
stock that is donated or bequeathed for higher education purposes, including
stock already received.
     (2) The state, including any of its
agencies having control of, or authority to invest and reinvest in, any stock
described in subsection (1) of this section, in holding, disposing of or
investing and reinvesting in such stock, shall be governed by ORS 130.750 to
130.775, notwithstanding the date of acquisition of such stock. Moneys received
from the disposition of such stock, including dividends, shall be maintained
separate and distinct from the General Fund, and those moneys, including
interest earned thereon, are appropriated continuously for the purposes of the
donation or bequest and of the investments and reinvestments authorized by
subsection (1) of this section and by ORS 351.130. Except as specifically
authorized by law, the state or any of its agencies may not purchase stock.
     (3)(a) This section does not apply to
investment and reinvestment of moneys in the Public Employees Retirement Fund,
the Industrial Accident Fund, the Deferred Compensation Fund and the Education
Stability Fund or to acquisition, retention, management and disposition of
investments of those funds as provided in ORS 293.701 to 293.820.
     (b) This section does not apply to
investment or reinvestment of moneys or stock resulting from the holding and
disposing of stock by the state as allowed under section 6 (2), Article XI of
the Oregon Constitution. [Formerly 291.630; 1967 c.335 §32; 1971 c.339 §1; 1989
c.966 §21; 1995 c.12 §4; 1995 c.157 §25; 1997 c.179 §24; 2001 c.835 §13; 2002
s.s.3 c.6 §12; 2005 c.348 §122]
     293.796
Findings regarding venture capital for new businesses. (1) The Legislative Assembly finds that:
     (a) The availability of venture capital
for the start-up and subsequent expansion of new businesses is critical to the
continued growth and development of the economy of
     (b) There exists an estimated gap of
between $100 million and $200 million between available venture capital
resources and the need of
     (c) Investments in start-up and expanding
businesses, in minority or women business enterprises and in emerging growth
businesses can produce substantial positive returns for long-term investors.
     (d) Pension funds managed by the Oregon
Investment Council constitute a major financial resource of the State of
     (2) As used in this section:
     (a) “Emerging growth business” has the
meaning given that term in ORS 348.701.
     (b) “Minority or women business enterprise”
has the meaning given that term in ORS 200.005. [1995 c.811 §1; 2003 c.606 §1;
2005 c.22 §221]
     Note: 293.796 was enacted into law by the
Legislative Assembly but was not added to or made a part of ORS chapter 293 or
any series therein by legislative action. See Preface to Oregon Revised
Statutes for further explanation.
     293.802 [1995 c.811 §2; repealed by 1999 c.54 §2]
     293.805 [1971 c.339 §2; repealed by 1975 c.363 §2]
     293.810 [1981 c.880 §2; 1991 c.88 §4; 1993 c.18 §60;
repealed by 1997 c.129 §4]
INVESTING IN
     293.811
Short title. ORS 293.811 to
293.817 may be cited as the Oregon Human Rights and Anti-Genocide Act of 2005. [2005
c.774 §2]
     293.812
Definitions. As used in ORS
293.811 to 293.817:
     (1) “Company” means any sole
proprietorship, organization, firm, association, corporation, utility,
partnership, venture, public franchise, franchisor, franchisee or its wholly
owned subsidiary that exists for profit-making purposes or otherwise to secure
economic advantage.
     (2) “Doing business” means maintaining
equipment, facilities, personnel or any other apparatus of business or commerce
in Sudan, including the ownership or possession of real or personal property
located in Sudan.
     (3) “Investment” or “invest” means the
commitment of funds or other assets to a company, including a loan or other
extension of credit made to that company, or the ownership or control of a
share or interest in that company or of a bond or other debt instrument issued
by that company.
     (4) “Subject investment funds” means:
     (a) The Public Employees Retirement Fund
referred to in ORS 238.660;
     (b) The Industrial Accident Fund referred
to in ORS 656.632;
     (c) The Common School Fund referred to in
ORS 327.405;
     (d) The Oregon War Veterans’ Fund referred
to in ORS 407.495; and
     (e) Investment funds of the State Board of
Higher Education available for investment or reinvestment by the Oregon
Investment Council.
     (5) “
     293.813
Findings. (1) The people of
     (2) The Legislative Assembly finds:
     (a) The Congress of the
     (b) The National Black Caucus of State Legislators
Resolution 05-144 declares that the atrocities unfolding in
     (c) The United Nations International
Commission of Inquiry on Darfur found that government forces and militias of
Sudan have conducted indiscriminate attacks, including the killing of
civilians, torture, enforced disappearances, the destruction of villages, rape
and other forms of sexual violence, pillaging and forced displacement
throughout Darfur;
     (d) Sudanese government forces and
government-supported militia forces have implemented a coordinated policy of
ethnic cleansing;
     (e) More than 2.2 million people are
affected by the crisis in Sudan, with 1.2 million displaced inside Sudan,
200,000 living as refugees and more than 50,000 people having died, according
to the Catholic Relief Services;
     (f) Sixty percent of the villages in
     (g) Sudanese government forces have
pursued a scorched earth policy aimed at removing populations from around a
newly constructed oil pipeline and other oil production facilities, according
to the United States Department of State Report on Human Rights Practices in
Sudan;
     (h) Fourteen thousand Dinka women and
children have been abducted in
     (i) Christian Solidarity International
reports that the government of
     (j) The
     (k) The Committee on Conscience of the
     (L) Genocide, enslavement and such
atrocities are repugnant to the basic principles of liberty and justice in the
Bill of Rights, Article I of the Oregon Constitution, which are fundamental to
the character of a free society; and
     (m) The investment of subject investment
funds in business firms and financial institutions with ties to the repressive
regime in
     293.814
Investment in companies doing business in
     (2) Divestment and reinvestment of subject
investment funds under the provisions of this section shall be accomplished by
the Oregon Investment Council and the State Treasurer without monetary loss to
the funds through reasonable, prudent and productive investments in companies
and institutions generating returns that are comparable to the returns
generated by the companies subject to the divestment. [2005 c.774 §5]
     293.815
Investigation of companies; notice of withdrawal of investments. The Oregon Investment Council and the State
Treasurer, in the State TreasurerÂ’s role as investment officer for the council,
shall make reasonable efforts to investigate all companies in which the council
has invested subject investment funds to determine whether any of those
companies are doing business in
     293.816
Exceptions. ORS 293.814 and
293.815 do not apply to:
     (1) Investments in companies that are
engaged solely in the provision of goods and services intended to relieve human
suffering or to promote welfare, health, education or religious or spiritual
activities;
     (2) Investments in
     (3) Investments in companies that are
engaged solely in journalistic activities. [2005 c.774 §7]
     293.817
Report to Legislative Assembly.
On or before January 15 of each year, the State Treasurer shall report to the
Legislative Assembly in the manner provided by ORS 192.245 on actions taken by
the State Treasurer and the Oregon Investment Council pursuant to the provisions
of ORS 293.811 to 293.817. The State Treasurer shall consult with the council
in preparing reports under this section. [2005 c.774 §8]
INVESTING
LOCAL FUNDS
     293.820
Separate accounts for each local government; report; investment rules. (1) When the investment officer invests the
funds of any county, municipality, school district or other political
subdivision of this state, the investment officer shall keep a separate account
for each such governmental unit the funds of which are being invested.
     (2) The investment officer shall report
monthly to each such governmental unit the changes made during the preceding
month in the investments for the account of that governmental unit. The monthly
reports shall be provided to the governmental units within 30 days after the
end of the month to which they pertain.
     (3) All funds invested by the investment
officer shall be invested in accordance with rules adopted or readopted at
least annually by the Oregon Short Term Fund Board and approved by the Oregon Investment
Council. Such rules shall be published, shall be made available to all
interested parties and shall be distributed at least annually to all local
governments investing funds pursuant to ORS 294.805 to 294.895. [1981 c.880 §3]
INVESTMENT
POOLS
     293.822
Investment pools authorized.
The Legislative Assembly recognizes that changes in federal arbitrage
regulations have imposed substantial additional financial and administrative
burdens on state agencies and local governments which issue tax-exempt obligations.
The impact of these burdens is exacerbated by the fiscal restrictions placed on
these agencies and governments by section 11b, Article XI of the Oregon
Constitution. The Legislative Assembly finds that it will benefit the citizens
of the state to authorize the State Treasurer to create one or more investment
pools which are designed to reduce these burdens of compliance with federal
arbitrage rules. [1991 c.902 §107]
     293.824
Investment pool procedures; duties of State Treasurer. (1) As used in this section:
     (a) “Council” means the Oregon Investment
Council.
     (b) “Investor” means an entity which
deposits proceeds with the State Treasurer for investment in a pool.
     (c) “Pool” means a fund or account
established by the State Treasurer for the investment of proceeds for one or
more investors, pursuant to this section.
     (d) “Public body” has the meaning given
that term in ORS 287A.001.
     (e) “Proceeds” means funds obtained from
the sale of tax-exempt obligations, and other funds which secure, or are held
to pay debt service on, tax-exempt obligations.
     (f) “Tax-exempt obligations” means bonds,
notes, certificates or other obligations, the interest on which is excluded
from gross income under the United States Internal Revenue Code.
     (2) In addition to the other powers
granted to the State Treasurer, the State Treasurer may create one or more
pools for the investment of proceeds. The pools shall be separate and distinct
from the General Fund. Amounts in a pool shall be invested under the standards
for investment of state funds which are provided in ORS 293.701 to 293.820.
However, the investment objective for the pools shall be to make the amounts
therein as productive to the investor as is administratively reasonable, taking
into account restrictions imposed by the
     (3) The State Treasurer or the council may
contract for trust, investment management, legal, accounting, financial
advisory and other services with respect to the funds invested in a pool. Costs
of the services may be paid from earnings on proceeds invested in a pool, from
fees charged to investors or from any other legally available funds. The State
Treasurer may charge investors fees for deposit or withdrawal of amounts from a
pool. The fees shall not exceed the State TreasurerÂ’s reasonable estimate of
the costs of creating and operating the pool.
     (4) The State Treasurer shall establish
policies and procedures for the allocation of pool expenses, earnings and
losses among investors in a pool, and for the deposit and withdrawal of amounts
in a pool. Net earnings on amounts in pools shall be distributed among
investors in accordance with the policies and procedures established by the
State Treasurer.
     (5) The State of
     293.830 [1987 c.193 §1; repealed by 1999 c.295 §1]
     293.835 [1987 c.193 §3; 1991 c.135 §1; 1999 c.59 §77;
repealed by 1999 c.295 §1]
     293.840 [1987 c.193 §2; 1991 c.135 §2; repealed by
1999 c.295 §1]
     293.845 [1987 c.193 §4; 1991 c.135 §3; repealed by
1999 c.295 §1]
     293.850 [1987 c.193 §5; 1991 c.135 §4; repealed by
1999 c.295 §1]
     293.855 [1987 c.193 §6; 1991 c.135 §5; repealed by
1999 c.295 §1]
     293.860 [1987 c.193 §7; 1991 c.135 §6; repealed by
1999 c.295 §1]
     293.865 [1987 c.193 §8; 1991 c.135 §7; repealed by
1999 c.295 §1]
     293.867 [1991 c.135 §9; repealed by 1999 c.295 §1]
     293.870 [1987 c.193 §10; repealed by 1999 c.295 §1]
CASH
MANAGEMENT
     293.875
State Treasurer as state cash management officer; duties. (1) The State Treasurer is designated the
cash management officer for the state and may review, establish and modify
procedures for the efficient handling of cash and cash equivalents under the
control of the State Treasury, the Secretary of State, the Judicial Department,
the Legislative Assembly, the Public Defense Services Commission and state
agencies, as defined in ORS 291.002.
     (2) The State Treasurer shall continuously
review the effectiveness of cash management of state agencies, the Secretary of
State, the Judicial Department and the Legislative Assembly, and when the State
Treasurer considers it appropriate shall report in writing to the subject
agency the findings of this review, along with any recommendations. A copy of
the report shall be provided to the Legislative Fiscal Officer and to the Secretary
of State.
     (3) State agencies shall employ the
principles, standards and related requirements for cash management, including
the use of secure disbursing and receiving documents and systems, prescribed by
the State Treasurer. [1993 c.73 §3; 1997 c.65 §1; 2003 c.449 §41]
     293.880
Accounts and funds established to comply with federal legislation relating to
state and federal cash management reform. The State Treasurer may establish accounts, and the Oregon Department
of Administrative Services may establish funds, as needed to comply with the
requirements of federal legislation relating to the state and federal cash
management reform. These accounts and funds shall be separate and distinct from
the General Fund. Interest earned, if any, shall inure to the benefit of the
account or fund. Moneys in these accounts and funds are continuously
appropriated for the following purposes:
     (1) To the extent authorized by federal
legislation, administrative expenses of the department, the State Treasurer and
the Division of Audits of the Secretary of State in the performance of their
duties relating to the program known as the state and federal cash management
reform. Payment of such expenses by the department shall be based on properly
documented claims and shall be paid the same as other claims against the State
of
     (2) The transfer of interest earnings to
the federal government in accordance with signed agreements between the United
States Treasury and this state.
     (3) The transfer of interest earnings to
the General Fund or other separate funds if documentation shows that state
funds have been used in anticipation of the receipt of federal funds. The use
of state funds in lieu of federal funds must be in accordance with signed
agreements between the United States Treasury and this state. [1989 c.552 §2]
PENALTIES
     293.990
Penalties. (1) Any person,
official or state agent violating ORS 293.265 to 293.280 or failing to comply
with any of the requirements of those sections within the time provided shall
be liable on the official bond of the person, officer or state agent and shall,
upon conviction thereof, be punished by a fine not exceeding $1,000 or by
imprisonment in the county jail for a period not exceeding one year, or both.
     (2) In addition to civil liability,
violation of ORS 293.620 is a Class A violation. Upon conviction, the defendant
is liable for all costs of the prosecution in accordance with ORS 151.505 or
161.665. [Formerly 291.990 (2), (3); 1971 c.743 §353; 1997 c.761 §12; 1999
c.1051 §173]
_______________
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