Oregon Expense Limitation Agreement

• Category: Corporations - Public
• State: Multi-State
• Control #: US-EG-9176
• Format: Word; Rich Text

Description

Expense Limitation Agreement between Garnder Lewis Investment Trust and Garnder Lewis Aset Management, Inc. dated February 28, 1999. 4 pages The Oregon Expense Limitation Agreement refers to a key legislative measure implemented in the state of Oregon to control government spending. This agreement aims to limit the growth of government expenditures by imposing strict constraints on the annual or biennial increases in government budgets. By doing so, the Oregon Expense Limitation Agreement ensures fiscal responsibility and prevents excessive growth in government spending. The primary objective of the Oregon Expense Limitation Agreement is to maintain a balanced budget while accounting for the state's economic conditions and population growth. This agreement sets a specific limit on the annual growth rate of expenditures, usually tying it to the rate of inflation plus the state's population growth rate. This approach ensures that government spending remains within sustainable and reasonable boundaries. There are different types of Oregon Expense Limitation Agreements, each tailored to specific needs and circumstances. Here are some notable examples: 1. General Expense Limitation Agreement: This is the most common type of agreement that outlines the overall expenditure limits for the state government. These limits may include various sectors such as education, healthcare, infrastructure development, public safety, and social welfare. 2. Sector-Specific Expense Limitation Agreements: These agreements focus on controlling spending within a specific sector or department of the government. For instance, a sector-specific agreement may target the education sector to cap its expenditure growth by a certain percentage. 3. Emergency Expense Limitation Agreement: This type of agreement allows for flexibility in times of emergencies. It grants temporary relief from the strict expenditure limits, enabling the government to allocate additional funds to deal with unforeseen crises, such as natural disasters or public health emergencies. 4. Multi-year Expense Limitation Agreement: In some cases, the Oregon government may enter into multi-year agreements to establish expenditure limits for several years at once. These agreements provide stability and predictability in budget planning and allow for long-term fiscal discipline. The Oregon Expense Limitation Agreement's implementation involves collaborative efforts between the Legislative Assembly, the Governor, and other relevant entities responsible for budget planning and execution. Compliance with the agreement requires constant monitoring, periodic reporting, and public accountability to ensure transparency and adherence to the set limitations. In summary, the Oregon Expense Limitation Agreement is a fundamental fiscal policy framework aimed at maintaining prudent government spending. By setting limits on expenditure growth, the agreement ensures long-term fiscal stability and accountability. Different types of agreements cater to various sectors and circumstances, ensuring that the budget remains in line with economic realities and the needs of the population.

The Oregon Expense Limitation Agreement refers to a key legislative measure implemented in the state of Oregon to control government spending. This agreement aims to limit the growth of government expenditures by imposing strict constraints on the annual or biennial increases in government budgets. By doing so, the Oregon Expense Limitation Agreement ensures fiscal responsibility and prevents excessive growth in government spending. The primary objective of the Oregon Expense Limitation Agreement is to maintain a balanced budget while accounting for the state's economic conditions and population growth. This agreement sets a specific limit on the annual growth rate of expenditures, usually tying it to the rate of inflation plus the state's population growth rate. This approach ensures that government spending remains within sustainable and reasonable boundaries. There are different types of Oregon Expense Limitation Agreements, each tailored to specific needs and circumstances. Here are some notable examples: 1. General Expense Limitation Agreement: This is the most common type of agreement that outlines the overall expenditure limits for the state government. These limits may include various sectors such as education, healthcare, infrastructure development, public safety, and social welfare. 2. Sector-Specific Expense Limitation Agreements: These agreements focus on controlling spending within a specific sector or department of the government. For instance, a sector-specific agreement may target the education sector to cap its expenditure growth by a certain percentage. 3. Emergency Expense Limitation Agreement: This type of agreement allows for flexibility in times of emergencies. It grants temporary relief from the strict expenditure limits, enabling the government to allocate additional funds to deal with unforeseen crises, such as natural disasters or public health emergencies. 4. Multi-year Expense Limitation Agreement: In some cases, the Oregon government may enter into multi-year agreements to establish expenditure limits for several years at once. These agreements provide stability and predictability in budget planning and allow for long-term fiscal discipline. The Oregon Expense Limitation Agreement's implementation involves collaborative efforts between the Legislative Assembly, the Governor, and other relevant entities responsible for budget planning and execution. Compliance with the agreement requires constant monitoring, periodic reporting, and public accountability to ensure transparency and adherence to the set limitations. In summary, the Oregon Expense Limitation Agreement is a fundamental fiscal policy framework aimed at maintaining prudent government spending. By setting limits on expenditure growth, the agreement ensures long-term fiscal stability and accountability. Different types of agreements cater to various sectors and circumstances, ensuring that the budget remains in line with economic realities and the needs of the population.