OAR 122-070-0120: Budget Requests for Financing Agreements

(1) Any Benefiting Agency intending to acquire real property or personal property, including software, using a Financing Agreement that exceeds $100,000 and that will create a payment obligation that covers multiple biennia must notify the Finance Manager as a part of the budget preparation process in accordance with the Department’s Budget & Legislative Concepts Instructions. (2) Benefiting Agencies that have identified the need for Financing Agreements during their budget preparation process may receive priority for the Director’s approval in the event demand exceeds the available biennial authority or limitation for Financing Agreements. (3) Benefiting Agencies requesting approval for Financing Agreements will make such request in the form prescribed by the Department. (4) For State Agencies subject to ORS 276.429, when requesting approval of Financing Agreements to acquire office quarters, such Agencies will provide: (a) Evidence that the action has received approval from the Legislative Assembly; or (b) Such information as is requested by the Director so that the planned action can be reported to the legislative review agency established in ORS 291.371 prior to the Director’s approval. (5) For State Agencies not subject to ORS 276.429, requests for approval of Financing Agreements to acquire office quarters shall include evidence that such acquisitions are authorized under the Agency’s governing laws, rules or policies.