Oregon Statutes 576.413 – Adoption of calendar year as fiscal year
(1) A commodity commission may adopt a rule allowing the commission to operate using a fiscal year that begins January 1 and ends December 31 each year. A commission shall consult with the Director of Agriculture and the Department of Justice prior to adopting a rule described in this section. A rule described in this section may not take effect unless:
Terms Used In Oregon Statutes 576.413
- Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
- State Treasury: includes those financial assets the lawful custody of which are vested in the State Treasurer and the office of the State Treasurer relating to the custody of those financial assets. See Oregon Statutes 174.100
(a) The commission obtains any necessary approvals from taxing authorities to use a fiscal year that begins January 1 and ends December 31 when reporting information;
(b) The commission submits a recommendation regarding any plans and projects for the transition period of July 1 to December 31 to the director for review and approval as described in ORS § 576.066; and
(c) Notwithstanding the annual basis requirement in ORS § 576.416 (1), the commission prepares, submits for public comment, adopts and receives approval for a budget for the transition period as provided under ORS § 576.416 (2) to (7).
(2) A recommendation submitted under ORS § 576.066 regarding plans and projects for the transition period must be separately stated and presented for separate review and approval from any recommendation submitted under ORS § 576.066 regarding plans and projects for the subsequent fiscal year.
(3) A budget prepared for a transition period must be submitted for public comment, adopted and approved separately from the budget prepared for the subsequent fiscal year. ORS § 576.416 and this subsection do not prohibit a commission from submitting a transition period budget and fiscal year budget for separate public comment or adoption at the same public meeting.
(4) This section does not authorize the use of a fiscal year that begins January 1 and ends December 31 by any entity that:
(a) Receives funding from the State Treasury; or
(b) Is subject to budget review or modification by the Legislative Assembly. [2013 c.12 § 2]
[1959 c.596 22, 23; 1977 c.198 § 12; 1993 c.98 § 18; repealed by 2003 c.604 § 13 (576.416 enacted in lieu of 576.415)]