| Capital Investment |
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| About Us |
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The Capital Investment Section (CIS) has direct responsibility for managing four separate and independent financing programs and coordinating statewide budgeting for bonds and capital construction.
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DAS is responsible for approval of state Certificate of Participation (COPs) and other financing agreements. COPs are the primary source for financing state facilities and capital equipment (excluding article XI-G and XI-F bonds for Higher Education). The Capital Investment Section coordinates issuance of State Lottery Bonds and Tax Anticipation Notes (TANs). CIS also administers the Pension Obligation Bond Program.
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| Current Topics |
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Rainy Day Fund Established
On September 7, 2007 the first deposit was made to the Oregon Rainy Day Fund. A transfer of $319.2 million was made to the newly established account in accordance with the terms of House Bill 2707 (2007). The fund can be accessed after economic triggers described in the bill are met, and with a 3/5 vote in both legislative houses.
Oregon Receives Bond Ratings Upgrade
On August 10, Moody’s Investor Services upgraded Oregon’s general obligation bond rating to Aa2 from Aa3. Factors cited include strong revenue performance, impressive job growth and establishment of the Rainy Day Fund. At the same time, Moody’s improved its rating for Oregon’s certificates of participation (COPs) from A1 to Aa3.
On August 24 Standard & Poor's Ratings Services (S & P) raised its rating to 'AA' from 'AA-' on Oregon's outstanding GO bonds and raised its underlying rating to 'AA-' from 'A+' on the state's outstanding certificates of participation (COPs). In its upgrade report, S & P commented on strong revenue performance as well as financial flexibility allowed by creation of the Rainy Day Fund and the Education Stability Fund.
Oregon Lottery Bonds were upgraded to AAA by S & P on October 5, 2006. Moody’s improved its rating on Lottery Bonds from A1 to Aa3 effective January 12, 2007.
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| Resources for Agencies |
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Intent Resolutions
Accounting for Debt and Capital Assets
Accounting and Reporting of Capital Assets (pdf)
Long-term Debt Training (pdf)
Recording Debt Service Payments and Amortization (pdf)
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| Resources for Policy Makers |
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Debt Capacity ~
State Debt Policy Advisory Commission Report
State Bonding in Oregon (pdf)
Capital Budgeting (pdf) ~ Excerpt from 2007-09 Gov. Rec. Budget
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| Contact Us |
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Jack Kenny, Finance Manager
(503) 378-3107
Lyndon Troseth, Financial Coordinator
(503) 378-3105
Mark Miedema, Finance Analyst
(503) 378-4735
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