Oregon Statutes 292.024 – Warrant for aggregate amount allowed plus assessments; limits
(1) The Oregon Department of Administrative Services shall, as it determines and may at any time redetermine, either draw a warrant for or transfer the aggregate amount allowed of a payroll transmitted under ORS § 292.022 plus additional amounts specified in subsection (2) of this section. The aggregate amounts allowed shall be deposited with the State Treasurer, to be held in a special account to be designated as the Joint Payroll Account.
Terms Used In Oregon Statutes 292.024
- 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
- Interest rate: The amount paid by a borrower to a lender in exchange for the use of the lender's money for a certain period of time. Interest is paid on loans or on debt instruments, such as notes or bonds, either at regular intervals or as part of a lump sum payment when the issue matures. Source: OCC
- 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
(2) In addition to the aggregate amount allowed of a payroll in subsection (1) of this section, the department may assess a fee equal to the State Treasury short term investment pool interest rate against any portion of any payroll reimbursement the source of funds of which is other than from a General Fund appropriation, and which is transmitted to the department 45 or more days after the issue date of the payroll. All moneys received by the department under the provisions of this subsection shall be deposited in the State Treasury to the credit of the General Fund. [1955 c.495 § 5; 1961 c.108 § 10; 1967 c.454 § 81; 1969 c.378 § 4; 1991 c.611 § 1]