Oregon Statutes 242.714 – Preparation of budget; appropriations
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(1) The commission shall prepare and submit a budget to the governing body of the political subdivision prior to each fiscal year for which an appropriation is needed to carry out the provisions of ORS § 242.702 to 242.824.
Terms Used In Oregon Statutes 242.714
- Appropriation: The provision of funds, through an annual appropriations act or a permanent law, for federal agencies to make payments out of the Treasury for specified purposes. The formal federal spending process consists of two sequential steps: authorization
- 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.
(2) The governing body of each political subdivision shall appropriate sufficient funds to carry out the provisions of ORS § 242.702 to 242.824. [1959 c.252 § 43]