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Financial Services


Who We Are

Financial Services has 70 full-time employees. With a biennial operating budget of approximately $29 million (exclusive of debt service). Financial Services manages the Agency’s gross revenues of approximately $5.3 billion, transfers of $895 million, and records and tracks expenditures of $4.1 billion.

What We Do

Financial Services provides a complete range of integrated financial and accounting processes for the Agency.

These processes include:

  • Financial statement preparation;
  • Accounts payable;
  • Accounts receivable;
  • Asset accounting;
  • Audit and collection;
  • Cash forecasting and management;
  • Cost allocation;
  • Financial analysis and reporting policy;
  • Financial forecasting;
  • Fuels tax administration;
  • Funds administration;
  • Innovative finance/debt issuance and management;
  • Payroll.

Services provided include:

  • Administrative services;
  • Financial management;
  • Financial systems development and maintenance.

Resources and Publications

Highway Revenues Apportionment​
 
Highway revenues in the State of Oregon have several major sources:
 
  • Motor Vehicle Registration and Title Fees;
  • Driver License Fees;
  • Motor Vehicle Fuel Taxes;
  • Weight-Mile Tax.
 
Net revenues from the above taxes and fees are deposited into an account known as the State Highway Fund. With minor exceptions, the Oregon Constitution (Article IX, Section 3a) dedicates the highway revenues for the construction, improvement, maintenance, operation and use of public highways, roads, streets and roadside rest areas. There are several statutory provisions that distribute State Highway Fund revenues (Oregon Revised Statutes - Chapter 366). These are:
 
  • ORS 366.739, distributing revenue raised by taxes and fees in effect prior to 2001.
  • ORS 366.742, distributing revenue raised by tax and fee increases authorized in 2001.
  • ORS 366.747 and ORS 366.749, distributing revenue raised by tax and fee increases authorized in 2003.
  • ORS 366.752, distributing revenue raised by tax and fee increases authorized in 2009.
  • ORS 367.095, distributing revenue raised by tax and fee increases authorized in 2017.
 
The effect of the statutory provisions is summarized below:
 
STATE
59% distribution.

COUNTIES
25% distribution based on the vehicle registered in each county (ORS 366.764).

CITIES
16% distribution based on population in each city (ORS 366.805).
 
Revenue and Apportionments
NOTE: (For best results when printing Revenue and Apportionment documents, set page size to legal)

Small County Distribution
​​FY21-22​ Small County Distribution​

The Oregon Department of Transportation manages multiple bond programs for the State of Oregon, including the Oregon Transportation Investment Act program, the Jobs and Transportation Act program and the lottery-funded ConnectOregon program. Other programs include COP and Article XI-Q GO bond financed facilities projects, and State Highway GO bonds.  The Oregon Department of Transportation's bond programs are generally repaid by either the State Highway Fund – as with Oregon Transportation Investment Act, the Jobs and Transportation Act and most facility bonds – or by Lottery funds. 

 
State Highway Revenue funded programs include:
 
Oregon Transportation Investment Act
 
From 2001 through 2002, the Oregon Legislature approved $500 million in direct revenue bonds for Oregon Transportation Investment Act I and Oregon Transportation Investment Act II modernization and preservation projects.
 
In 2003, the Oregon Legislature approved an additional $1.9 billion in direct revenue bonds for Oregon Transportation Investment Act III to repair or replace state and local bridges, and for modernization projects
 
Jobs and Transportation Act 
 
In 2009, the Oregon Legislature enacted the Jobs and Transportation Act, which among other things, authorized the Oregon Department of Transportation to issue $840 million in direct revenue bonds to finance a specific list of 51 projects set out in the Jobs and Transportation Act.
 
Financial Information
 
 
Highway User Tax Revenue Bond Ratings
 
Fitch: AA+
Moody's: Aa1
Standard and Poor's: AAA
 
State of Oregon General Obligation Bond Ratings
 
Fitch: AA+
Moody's: Aa1
Standard and Poor's: AAA
 
Links
 
Department of Administrative Services
 
For More Information
 
For additional information about any of ODOT'​s bonding programs, please contact:
 
Oregon Department of Transportation
355 Capitol Street NE
Salem, Oregon 97301
 
Nick Herrera
Phone: (503) 856-2909​
Fax: (503) 986-4141
 

Contacts


Salary & Job History Verifications
ODOT Financial Services, MS #21
355 Capitol St NE
Salem, OR 97301

  • Telephone503-986-3900
  • Fax503-986-3907