Download
1 / 8
80 likes | 83 Views
State of Oregon’s Economy. Oregon does not have a sales tax Our schools and general fund agencies receive the majority of their revenue from property and income taxes. When economic downturns occur, Oregon, without a consistent revenue stream is generally hit harder than other states.
E N D
State of Oregon’s Economy • Oregon does not have a sales tax • Our schools and general fund agencies receive the majority of their revenue from property and income taxes. • When economic downturns occur, Oregon, without a consistent revenue stream is generally hit harder than other states.
State of Oregon’s Economy • All state agencies have been in a required pay freeze since March, 2009. • Top salary step for all positions (5% reduction) were removed and furlough days for management service employees was instituted on a tier system of 2-4 days between March and July 1, 2009 (average 4% reduction).
State of Oregon’s Economy • Some general fund agencies cut budgets with some minor layoffs and office closures. • More furlough days were instituted from September, 2009 through June, 2011 on a tier system of 10-14 days for all state employees (continuation of approximately 4% decrease in salary). • Salary step increases and top step remain frozen indefinitely for management service employees (5% reduction).
State of Oregon’s Economy • In June of 2010 general fund agencies were required to cut budgets by an additional 9%. • Layoff notices have been issued along with service reductions. • As of June, 2010, Oregon’s seasonally adjusted unemployment rate is 11.6% while the national average is at 9.5% and talks of reduced health benefits, and an additional tier in the retirement system for state employees. There are also high level discussions of a future state sales tax being put to voters.
Transportation System Funding • ODOT is funded by a state gas/diesel tax of .24 cents per gallon and federal highway funds. • We are seeing a reduction in gas tax revenues due to lower VMT and fuel efficient vehicles, however, ODOT as an agency remains in reasonably good health.
ODOT Budget • ODOT’s fleet allocation budgets have remained steady with modest increases, but have in no way kept up with equipment inflation caused by steel prices, new federal emission requirements and technology. • It is expected that ODOT’s fleet allocation budget to remain steady for the foreseeable future
ODOT Budget • ODOT’s overall budget is approved by the Oregon Legislature, however, Fleet’s equipment priorities and funding comes from leadership teams within ODOT.
Roundtable • Unemployment rates? • Budget reductions? • Salary reductions? • Furloughs? • Fleet allocation budgets?
