Clarno releases report on Oregon’s financial condition

Secretary of State Bev Clarno released the biennial report on Oregon’s financial condition, which presents selected high-level economic and demographic indicators for the 10-year period ending June 30, 2018. The report is not an audit, but an informational report analyzing revenues, expenditures, long-term debt, fiscal health,and demographics.

“This report provides useful information to help decision-makers capitalize on opportunities, tackle challenges, and manage the state’s financial condition timely and effectively,” Clarno said. “Oregon’s financial health has improved in many areas since the Great Recession, but work remains to continue this trend.”

The following are some of the aspects of Oregon’s financial condition noted in the report:

Human services and education continue to be the largest expenditures by program area. The state continues to make its required pension contributions. As of December 31, 2017, the state’s funded liability was about 80%. As Oregonians returned to work, tax revenues and personal income per capita increased, while unemployment insurance expenditures continued to decline. Oregon’s population is aging, presenting challenges of increasing health care costs.

Read the full report on the Secretary of State website.