What is the state of Oregon biennial budget?

Oregon's current budget Oregon enacted its FY 2024 biennial budget in June 2023. The budget reported $31.9 billion in general fund spending and $121.3 billion in total spending and over the two-year period. Oregon also created a child tax credit in calendar year 2023.

What is the annual state budget for Oregon?

The legislatively approved budget (LAB) for the 2021-23 biennium, as adjusted during the 2021 second special session and 2022 regular session, and including authorized executive branch administrative actions through March 2022, is $121.165 billion total funds, an increase of $8.378 billion from the 2021-23 budget ...

What is Oregon's public budgeting?

The State of Oregon budgets on a biennial basis. The two-year budget period begins on July 1st of odd- numbered years and concludes on June 30th of the next odd-numbered year. Individual state agency budgets are developed and presented by the executive branch and passed into law by the legislative branch.

What is the budget for Oregon 23 25?

The legislatively adopted budget (LAB) for the 2023-25 biennium is $121.261 billion total funds, which is a decrease of $4.494 billion, or 3.6%, from the 2021-23 legislatively approved budget of $125.755 billion.

How much does Oregon State make a year?

Oregon State University's revenue is $767.6 million.

Oregon State University peak revenue was $767.6M in 2022. Oregon State University has 7,500 employees, and the revenue per employee ratio is $102,350.

Taking a deep dive into the Oregon state budget

Who are the highest paid Oregon State employees?

Data for 2022 is not yet available. Rex Kim, chief investment officer for the Oregon State Treasury, was the highest paid state employee, with a base salary of $505,614, an 8% increase from the previous fiscal year.

What is the city of Portland's annual budget?

May 17, 2023 7:30 p.m. Portland City Council tentatively approved a $7.1 billion budget for next year on Wednesday that sets the city on course for a coming remodel to the city's government structure.

How much is the Oregon kicker this year?

For the 2021-23 biennium, OEA has confirmed a kicker of more than $5.61 billion. Taxpayers will claim the kicker as a refundable credit on their 2023 tax return filed in 2024.

How much did Cover Oregon cost?

Background. Cover Oregon is the State of Oregon's version of the Federal Government's Healthcare.gov. In 2010, Oregon chose to build its own healthcare exchange program rather than adopt the Federal exchange. The state leveraged federally granted money of over $300 million dollars to build Cover Oregon's website.

Does Oregon have a pension?

Public Employee Retirement System (PERS)

All active members have two parts to their PERS retirement: A pension—Tier One, Tier Two, or OPSRP, and. An Individual Account Program (IAP) account.

How underfunded is Oregon pers?

It's $22 billion short of funds needed to pay for pensions owed to government employees and retirees. This unfunded liability is borne by state and local governments – and ultimately all taxpayers.

What is the government like in Oregon?

Oregon's state government is composed of three government branches: Executive, Legislative, and Judicial, as well as a system of commissions wherein citizens are appointed by the Governor and confirmed by the Senate.

How much is Oregon in debt?

U.S. state and local government debt in Oregon FY 2000-2022

In the fiscal year of 2022, the state of Oregon had state debt totaling 13.8 billion U.S. dollars.

What is the biggest state expense?

State Government Spending

Total expenditures for all 50 states in the United States was nearly $3 trillion in 2021. General expenditures by function rounded in billions of dollars are listed in the table below. Welfare and education are the largest expenditures by state governments.

How big is the Oregon economy?

Source: Bureau of Economic Analysis. In the 3rd quarter of 2023, the real GDP for Oregon was $321.0 billion in goods and services per year.

Is Oregon getting a credit for taxes paid to another state?

If Oregon and another state tax the same income, you may be eligible to claim a credit for taxes paid to the other state. If you have income that qualifies for the credit for taxes paid to another state and you are a part year resident, you must manually add this into the program.

What is the Oregon tax kickback?

The state will send a massive $5.6 billion kicker rebate back to taxpayers next year. The kicker is an Oregon institution, triggered whenever personal income taxes and other non-corporate revenue streams come in at least 2% higher than state economists predicted when legislators were building a two-year budget.

What is the Oregon kicker credit 2024?

In 2024 Oregon is returning $5.61 billion in surplus revenue to taxpayers in the form of a “kicker” tax credit. Taxpayers will receive their kicker as part of their refund, or the kicker can reduce the tax they owe.

How much debt is Portland in?

TIA's Taxpayer Burden™ measurement incorporates all assets and liabilities, including retirement obligations. Portland only has $1.9 billion of assets available to pay bills totaling $6.3 billion. Because Portland doesn't have enough money to pay its bills, it has a -$4.4 billion financial hole.

Who owns most of Portland?

But according to the city's latest records, the biggest landowners in downtown Portland (by number of acres owned) are all government entities: the City of Portland, the State of Oregon, and TriMet. Another landowner of note is Atlas Investments, which was co-founded by Katherine Durant.

What is Portland's homeless rate?

The complexity of the homelessness issue is apparent in its numbers. According to the 2023 Point in Time Count, thousands of people are living unsheltered on our streets. Overall homelessness in Portland increased by 65% from 2015 to 2023 (from 1,887 to 6,297 individuals).

What is the number 1 industry in Oregon?

The largest industries by revenue in Oregon are Health & Medical Insurance, Hospitals and Semiconductor & Circuit Manufacturing, which generated $23.7b, $20.8b and $16.7b in 2023.

What is Oregon's largest industry?

U.S. real value added to GDP in Oregon 2022, by industry

In 2022, the GDP of Oregon totaled around 254.71 billion U.S. dollars. the finance, insurance, real estate, rental, and leasing industry added the most real value to the gross domestic product (GDP) of the state, amounting to around 47.29 billion U.S. dollars.