OAR 150-294-0420
Governmental Fund Definitions

(1)

For the purpose of this rule “fund” means a fiscal and accounting entity with self-balancing accounts to record cash and other financial resources, related liabilities, balances and changes, all segregated for specific, regulated activities and objectives.

(2)

Municipal corporations organized and operated on a fund accounting system shall prepare estimates of expenditures for the ensuing year using the following types of funds:

(a)

The General Fund — To account for all financial resources except those required to be accounted for in another fund.

(b)

Special Revenue Funds — To account for the proceeds of specific revenue sources (other than special assessments, expendable trusts, or for major capital projects) that are legally restricted to expenditure for specific purposes. Funds as defined in ORS 294.311 (Definitions for ORS 294.305 to 294.565)(39) and 280.040 (Definitions for ORS 280.040 to 280.145)(2) are examples of special revenue funds.

(c)

Capital Projects Funds — To account for financial resources to be used for the acquisition or construction of major capital facilities (other than those financed by Proprietary Funds, Special Assessment Funds and Trust Funds).

(d)

Debt Service Funds — To account for the accumulation of resources for, and the payment of, general long-term debt principal and interest.

(e)

Special Assessment Funds — To account for the financing of public improvements or services deemed to benefit the properties against which special assessments are levied.

(f)

Enterprise Funds — To account for operations:

(A)

That are financed and operated in a manner similar to private business enterprises — where the intent of the governing body is that the costs (expenses, including depreciation) of providing goods or services to the general public on a continuing basis be financed or recovered primarily through user charges; or

(B)

Where the governing body has decided that periodic determination of revenues earned, expenses incurred, and/or net income is appropriate for capital maintenance, public policy, management control, accountability, or other purposes.

(g)

Internal Service Funds — To account for the financing of goods or services provided by one department or agency to other departments or agencies of the governmental unit, or to other governmental units, on a cost-reimbursement basis.

(h)

Trust and Agency Funds — To account for assets held by a governmental unit in a trustee capacity or as an agent for individuals, private organizations, other governmental units, and/or other funds. These include:

(A)

Expendable Trust Funds;

(B)

Nonexpendable Trust Funds;

(C)

Pension Trust Funds; and

(D)

Agency Funds.

(3)

Estimates of expenditures and resources are not required to be budgeted if the following three criteria are met:

(a)

The municipal corporation holds the resources merely for safekeeping;

(b)

Expenditure of the resources is not under the control of the municipal corporation or a third party chosen by the municipal corporation; and

(c)

The resources are expended for a purpose other than that for which the municipal corporation levies a tax or expends funds.

(4)

Estimates of expenditures and resources are not budgeted if the criteria of ORS 294.361 (Contents of estimate of budget resources)(3) and 294.338 (Compliance with Local Budget Law required prior to expenditure or tax certification)(2) are met.

(5)

It is the intention of this administrative rule to adopt governmental fund definitions that are recognized as generally accepted governmental accounting principles.

Source: Rule 150-294-0420 — Governmental Fund Definitions, https://secure.­sos.­state.­or.­us/oard/view.­action?ruleNumber=150-294-0420.

150‑294‑0100
Department of Revenue Review of the County Assessment, Appeal, Collection, and Distribution of Property Taxes 150‑294‑0105
Expenditures for Assessment and Taxation 150‑294‑0110
Definition: Certification of Compliance. Plan to Achieve Adequacy 150‑294‑0115
Contents of Grant Application 150‑294‑0120
Estimates of Expenditures for Assessment and Taxation 150‑294‑0125
Certification 150‑294‑0130
Alternative Method for Certification 150‑294‑0140
Transfers from the CATF to the CAFFA Account 150‑294‑0150
Calculation of Interest on Late Payments 150‑294‑0300
Definition of Taxing Authority 150‑294‑0310
Definition of Budget Document 150‑294‑0320
Definition of Organizational Unit 150‑294‑0330
Budgeting Grants, Gifts, Bequests, and Devises 150‑294‑0340
Establishing a Financial Reserve Fund 150‑294‑0350
“Reserved for Future Expenditure” Requirement 150‑294‑0360
Detail Sheets for Biennial Budgets 150‑294‑0370
Resources Are Not Required to Be Budgeted 150‑294‑0380
Negative Resources 150‑294‑0390
Budget Resources 150‑294‑0400
Estimating Tax Revenue for Biennial Budgets 150‑294‑0410
Proposed Expenditures-Required Presentation 150‑294‑0420
Governmental Fund Definitions 150‑294‑0430
General Operating Contingencies 150‑294‑0440
Unappropriated Ending Fund Balance 150‑294‑0450
Quorum Necessary to Hold Meeting 150‑294‑0460
Charging for Budget Document Copies 150‑294‑0470
Reporting Historical Data for Published Budget Summaries 150‑294‑0480
Quorum Necessary to Hold Meeting 150‑294‑0490
Property Taxes Certified 150‑294‑0500
Publishing of Amended Budget Document 150‑294‑0510
Manner of Appropriations 150‑294‑0520
Documents to File When Certification Cannot Be Certified By July 15 150‑294‑0530
Budget Certification Document to Be Submitted 150‑294‑0540
Transfers of Appropriations 150‑294‑0550
Supplemental Budget Procedures 150‑294‑0800
Councils of Governments Subject to Certain Budgetary Requirements 150‑294‑0810
Members of the Budget Committee: Governing Body and Appointees. Definition of Representatives of the Services Provided for a Council of Government 150‑294‑0820
Restrictions on Appointive Budget Committee Members for a Council of Government 150‑294‑0830
Duties of the Budget Committee of a Council of Government 150‑294‑0840
Duties of the Governing Body of a Council of Government
Last Updated

Jun. 8, 2021

Rule 150-294-0420’s source at or​.us