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Legislative subcommittee backs $1 million accounting scholarship, cuts board reserves
Summary
The Ways and Means subcommittee recommended approval of House Bill 5,001 with a one-time $1 million transfer from the Board of Accountancy’s reserves to fund need‑based scholarships and a staffing change; fiscal staff said the move would reduce the board’s operating reserves from about 27 months to about nine months.
House subcommittee members recommended approval Thursday of House Bill 5,001, the budget for the Oregon Board of Accountancy, including a one‑time $1,000,000 transfer from the board’s operating reserves to seed a need‑based accounting scholarship program.
The recommendation, made during the Joint Committee on Ways and Means work session, also included a staffing model change that creates a deputy director to handle day‑to‑day operations so the executive director can focus on community outreach. The budget package the subcommittee approved totals $4,387,935 in other funds and seven positions, a reported increase of 29.5%…
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