Oregon

Oregon's biennial budget, covering a period from 1 July of each odd-numbered year to 30 June of the next odd-numbered year, is prepared by the Executive Department and submitted by the governor to the legislature for amendment and approval. Unlike some state budgets, Oregon's is not contained in a single omnibus appropriations bill; instead, each agency appropriation is considered as a separate measure. When the legislature is not in session, an emergency board of 17 legislators considers fiscal problems; this board may adjust budgets, allocate money from a special emergency fund, and establish new expenditure limitations, but it cannot enact new general fund appropriations. The Oregon constitution prohibits a state budget deficit and requires that all general obligation bond issues be submitted to the voters.

The Oregon state budget for 1999–2001 receives its revenues primarily from the general fund (34%) and the federal government (19%). Other funds are received and directly allocated to certain purposes, such as the highways, employment, and forests. Total expenditures for 1999–2001 were forecast at almost $30 billion. General fund resources available for allocation were estimated at a total of $10 billion for 1999–2001. In 2000/01, general fund revenues totaled $5.238, in line with the estimates for the biennium budget, and expenditures, at $5.249 billion, were readily covered even thought Medicaid Upper Payment Limit (MUPL) funds had been removed from the calculation. However, in 2001/02, the shortfall was dramatic as general fund revenue only reached $4.326 billion. A total of $801.4 million was cut from the biennial budget after it was enacted, as the legislature met in five special sessions to explore how to deal with the budget shortfalls facing the state. In 2002/ 03, general fund revenues only reached $5.03 billion, and the legislature made cuts totaling $465 million in the enacted budget, with no program held exempt. Oregon's budget deficit in 2002/ 03 was estimated at 4.6% of the state budget, and for 2003/04, was projected to reach between 20.4% and 27.2% of the state budget. Allocations from the general fund include, by function, education (about 30%), human resources (27%), economic development (9%), and public safety and transportation (about 7% each). The following table from the US Census Bureau contains information on revenues, expenditures, indebtedness, and cash/securities for 2001.