(a) All moneys received from political subdivisions under the provisions of ORS 293.701, 294.725 to 294.755 and 657.513;
(b) Interest earned upon any moneys in the fund;
(c) Moneys transferred from other funds to cover shortages in the fund; and
(d) All other moneys received from a political subdivision to be applied against benefit payment charges for any period the political subdivision has requested the Employment Department to reimburse the Unemployment Compensation Trust Fund on its behalf.
(2) Moneys in the fund are continuously appropriated to the department and, notwithstanding ORS 657.505, shall be the sole source of funds for payment to the Unemployment Compensation Trust Fund for benefits attributable to a political subdivision during its period of participation in the fund and repayment of advances and the interest thereon due to any shortages in the fund.
(3) Interest earned upon any moneys in the fund is continuously appropriated to the department for the payment of:
(a) Administrative expenses of ORS 293.701, 294.725 to 294.755 and 657.513 and expenses incurred in the investment of the fund in the amount authorized by ORS 293.718;
(b) Erroneous benefit payments determined during the period in which a political subdivision is a participant in the fund; and
(c) Benefits attributed to a political subdivision that has ceased to exist, has no positive account balance and has no successor.
(4) When insufficient interest exists to pay obligations under subsection (3) of this section, such amounts may be paid from the fund. When the fund again begins earning interest, all obligations paid pursuant to this subsection shall be repaid to the fund before any allocation is made under subsection (5) of this section.
(5) As soon as possible after the end of each calendar quarter, the State Treasurer shall review the applicable quarterly interest earnings and payments made therefrom and distribute any excess interest earnings to the political subdivision accounts that had a positive balance on the last day of the applicable quarter. Such allocation shall be in a ratio that the political subdivision positive account balance on the last day of the calendar quarter bears to the total balance of all political subdivisions with positive account balances on the last day of the calendar quarter. The amounts distributed for the quarter ending June 30 shall be included in the account reserve ratio determination for such June 30.
(6) The Director of the Employment Department is authorized to requisition from the fund such amounts determined to be necessary for the payment of benefits attributable to wages of political subdivisions.
(7) Interest accrued each quarter on advances pursuant to subsection (2) of this section shall be allocated each quarter to those political subdivision accounts with a negative balance on the last day of such calendar quarter. The allocation shall be in a ratio that the political subdivision negative account balance on the last day of the calendar quarter bears to the total balance of all political subdivisions with negative account balances on the last day of the calendar quarter. The amounts allocated for the quarter ending June 30 shall be included in the account reserve ratio determination for such June 30. [1977 c.492 §4; 1983 c.53 §1; 1989 c.135 §2; 1989 c.966 §22]
Structure 2021 Oregon Revised Statutes
Volume : 07 - Public Facilities and Finance
Chapter 294 - County and Municipal Financial Administration
Section 294.004 - Definitions.
Section 294.005 - Definitions for ORS 294.005 to 294.025.
Section 294.027 - Provisions relating to warrants and payment of claims.
Section 294.035 - Investment of funds of political subdivisions; approved investments.
Section 294.052 - Definitions; investment by municipality of proceeds of bonds.
Section 294.070 - Expenditure of Taylor Grazing Act funds; advisory board.
Section 294.080 - Disposition of interest earned on funds held by county treasurer.
Section 294.120 - Use of facsimile signatures.
Section 294.125 - Investment of funds authorized by order of governing body; limitations.
Section 294.135 - Investment maturity dates.
Section 294.145 - Prohibited conduct for custodial officer.
Section 294.155 - Annual audit report; monthly report.
Section 294.160 - Opportunity for public comment on new fee or fee increase.
Section 294.181 - Alternative method for certification.
Section 294.184 - County Assessment Function Funding Assistance Account; sources; purpose.
Section 294.187 - County Assessment and Taxation Fund; sources; purpose.
Section 294.311 - Definitions for ORS 294.305 to 294.565.
Section 294.316 - Exclusions from scope.
Section 294.323 - Budget period.
Section 294.333 - Basis of accounting used by municipal corporation; change of basis.
Section 294.343 - Internal service funds.
Section 294.358 - Expenditure and resource estimate sheets; made part of budget document.
Section 294.361 - Contents of estimate of budget resources.
Section 294.368 - Determination of estimated tax revenues.
Section 294.403 - Budget message.
Section 294.414 - Budget committee.
Section 294.428 - Budget committee hearings; approval of budget document.
Section 294.448 - Manner of publication; alternative requirements in certain cases.
Section 294.461 - Tax certification contrary to law voidable by Oregon Tax Court; appeal procedure.
Section 294.463 - Transfers of appropriations within fund or between funds.
Section 294.466 - Appropriation of pass-through revenues.
Section 294.468 - Loans from one fund to another; commingling cash balances of funds.
Section 294.471 - Supplemental budget in certain cases; no increase in property taxes permitted.
Section 294.477 - Inclusion in budget of estimated requirements for bonds approved at May election.
Section 294.495 - Department of Revenue to construe Local Budget Law; rules.
Section 294.500 - Declaratory ruling by Department of Revenue as to its rules; rules.
Section 294.510 - Order for revision of budgetary procedures; enforcement.
Section 294.605 - Definitions for ORS 294.605 to 294.705.
Section 294.615 - Oath of commissioner.
Section 294.620 - Office of commission; employment and compensation of assistants.
Section 294.625 - Jurisdiction of commission.
Section 294.630 - Tax supervising and conservation commission account; additional sources of moneys.
Section 294.635 - Submission of budget estimates by levying boards.
Section 294.670 - Commission may inquire into management, books and systems; rules.
Section 294.710 - Procedures for establishing commission; annual appropriations.
Section 294.725 - Definitions for ORS 294.725 to 294.755.
Section 294.740 - Refund of account balances; payment of deficits; erroneous benefit payments.
Section 294.750 - Experience and liability of successor political subdivisions; unpaid assessment.
Section 294.805 - Definitions for ORS 294.805 to 294.895.
Section 294.810 - Local and tribal governments authorized to place limited funds in pool.
Section 294.825 - State Treasurer as investment officer; bond; employment of personnel; rules.
Section 294.831 - Investment objective; limit on maturity dates.
Section 294.835 - Standard of care; investment in certain stocks prohibited.
Section 294.847 - Prohibited conduct for investment officer.
Section 294.855 - Legal opinions; investment counseling services; mortgage services.
Section 294.885 - Oregon Short Term Fund Board; members; appointment; term; vacancies.
Section 294.890 - Board members serve without compensation; selection of chairperson.
Section 294.895 - Board duties, generally.
Section 294.900 - "Council of governments" defined.
Section 294.905 - Budget committee; membership; term; vacancies; officers; meetings to be public.
Section 294.910 - Estimates of expenditures; organization and format; matters to be included.
Section 294.915 - Notice of budget committee meeting; public availability of documents.
Section 294.920 - Hearing on budget document.
Section 294.925 - Supplemental budget; conditions; term; publication.
Section 294.950 - County revenue sharing with cities.
Section 294.960 - Collection and disposition of amounts due counties.