This text of Oregon § 571.483 (Oregon Hemp Commission budget; meeting requirement; annual financial statement) is published on Counsel Stack Legal Research, covering Oregon primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.
(1)The Oregon Hemp Commission shall adopt an annual budget, using classifications of expenditures and revenues required by ORS 291.206. The budget described in this subsection is not subject to review by the Legislative Assembly or to future modification by the Emergency Board or the Legislative Assembly. (2)(a) The commission shall follow generally accepted accounting principles and keep financial and statistical information as necessary to completely and accurately disclose the financial operations of the commission as required by the Secretary of State.
(b)The budget must show:
(A)The estimated receipts and expenditures by or under the authority of the commission under ORS 571.400 to 571.501 for the fiscal year for which the budget is adopted; and (B)The actual receipts and expendit
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(1) The Oregon Hemp Commission shall adopt an annual budget, using classifications of expenditures and revenues required by ORS 291.206. The budget described in this subsection is not subject to review by the Legislative Assembly or to future modification by the Emergency Board or the Legislative Assembly.
(2)(a) The commission shall follow generally accepted accounting principles and keep financial and statistical information as necessary to completely and accurately disclose the financial operations of the commission as required by the Secretary of State.
(b) The budget must show:
(A) The estimated receipts and expenditures by or under the authority of the commission under ORS 571.400 to 571.501 for the fiscal year for which the budget is adopted; and
(B) The actual receipts and expenditures by or under the authority of the commission for the fiscal year preceding the fiscal year in which the proposed budget is prepared, and the estimated receipts and expenditures by or under the authority of the commission for the fiscal year in which the budget is prepared.
(3) Estimated receipts and expenditures for the fiscal year for which the budget is adopted must be fully itemized and be prepared and arranged clearly to show each item of receipts and expenditures. To the extent practicable, the items of receipts and expenditures must be arranged under major groups or categories that are the same as the most recent classifications of revenue and expenditures established pursuant to ORS 291.206.
(4) The budget must contain only one estimate for emergency or other expenditures that are unforeseen at the time the budget is prepared.
(5)(a) The commission shall call and hold at least one public meeting on the proposed budget. The commission shall, in determining the time and place of the meeting, consider the convenience of the majority of the producers licensed by the State Department of Agriculture.
(b) At a meeting described in this subsection, any person has the right to be heard with respect to the proposed budget.
(6) At least 14 days prior to the date of a meeting described in subsection (5) of this section, the commission shall publish notice at least once in a newspaper of general circulation in this state. The notice must include the purpose, time and place of the meeting and state that a copy of the proposed budget is available for public inspection at the place of business of the commission or other location.
(7)(a) After a budget has been adopted, the commission shall submit to the Director of Agriculture a copy of the budget and an affidavit setting forth the pertinent facts relating to the preparation and adoption of the budget. The director shall examine the budget and affidavit within 30 days of their receipt.
(b) If the director determines that the estimated receipts and expenditures conform with the authority of the commission and other requirements, and the facts set forth in the affidavit indicate the budget was lawfully prepared and adopted, the director shall certify those determinations on the copy of the budget and make the budget final.
(c) If the director determines that the budget fails to meet requirements, the director shall immediately notify the commission of the failures. The commission shall promptly take all practicable measures to remedy the failures and resubmit a copy of the budget to the director.
(d) The director shall retain the certified copy of the final budget and make the budget available for public inspection during normal business hours of the State Department of Agriculture.
(8) The commission shall:
(a) Prepare an annual financial statement of commission revenues and expenses and make the statement available for public review;
(b) Provide a copy of the annual financial statement and other required reports to the department not later than 20 days after the end of the fiscal year; and
(c) Upon request of the Secretary of State, provide a copy of the statement to the secretary.