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AFP: Billions Available to Balance Budget, According to State Report

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More than $3 billion may be available in State Agency accounts to help balance the budget, according to a report released by the Oregon Department of Administrative Services.  The availability of these funds makes the job killing tax increases contained in Measures 66 and 67 unnecessary.

The report, which can be viewed HERE, notes “As of June 30, 2009, the State’s governmental funds reported combined ending fund balances of $4.4 billion.  Of this amount, approximately 25.1 percent [$1.1 billion] was reserved for nonspendable items, such as inventories and permanent fund principal, or for specific purposes, such as debt service.  The remainder was classified as unreserved, undesignated fund balance and was available for spending subject to statutory and constitutional spending constraints.”

Any funds restricted by statute are available to the Legislature provided it has the political will to change the law on how the funds may be used.  Some funds are constitutionally restricted – such as the use of gas tax revenues for transportation – and could not be used without a statewide vote to change the constitution.

AFP encouraged lawmakers to look into the availability of “undesignated fund balances” during the 2009 Legislative Session.

Americans for Prosperity (AFP) is a nationwide organization of citizen leaders committed to advancing every individual’s right to economic freedom and opportunity. AFP believes reducing the size and scope of government is the best safeguard to ensuring individual productivity and prosperity for all Americans. AFP educates and engages citizens in support of restraining state and federal government growth, and returning government to its constitutional limits. For more information, visit www.americansforprosperity.org

Americans For Prosperity – Oregon • PO Box 130 • Sublimity, OR 97385 • Phone: 541.729.6229

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