For purposes of ORS 285B.263(6), each region shall prepare and submit a biennial report to the Governor, Commission and Legislative Assembly:
This biennial report shall be prepared and submitted in conformance with the following:
Format and procedures that the department may prescribe; and
The regions periodic performance reports and regional performance measures and distribution criteria including goals pursuant to OAR 123-055-0620 and ORS 285B.239.
The final biennial report shall be due at a time determined by the department in relation to each general session of the legislature, and shall include information from prior biennia not covered in the previous biennial report, as well as the most currently available information for the ongoing biennium.
The biennial report shall describe all expenditures of regionally controlled funds and, where multiple state funds are invested in a job creation or retention projects such as Strategic Regional Investment Opportunity Fund projects, the department will:
In some manner, differentiate and proportion between the funding sources when reporting these job creation projects to the legislature.
The biennial report shall indicate the success of projects and programs as funded or completed, not only in terms of the project or program itself, but also in terms of how each one contributes to:
Carrying out the investment strategy as whole;
Carrying out the rural action plan specifically;
Affecting performance measures and regional benchmarks specified therein; and
Achieving identified priorities for regional economic priorities, as both defined in statute and by the regional board itself in the investment strategy.
The biennial report may (in addition to information about expenditures of regionally controlled funds and about funded projects) address the regional board and the investment strategys general progress and impact, especially in coordination with other resources and entities.
The biennial report shall indicate the success of projects and activities as funded in accordance with the regionally adopted, six-year Commission approved investment strategy and project funding criteria that has been established by the adoption of the strategy and goals as described in ORS 285B.239 thru 285B.263. The regions will be evaluated by department staff in accordance with ORS 285B.239(1)(h)(A), (B), (C) and 285B.239(1)(i), (j). If the department determines the region has funded projects not complying with the approved investment strategy, the department shall reduce future allocations from the Regional Fund in a like percent of the funds spent on the projects not meeting the adopted criteria established by the investment strategy.