Subcommittee advances state treasurer budget with new investment, unclaimed-property and IT positions

The Joint Committee on Ways and Means subcommittee on General Government voted June 5, 2025, to advance Senate Bill 5542, the Oregon State Treasury budget, after approving the Legislative Fiscal Office(LFO) recommendations that increase other funds spending and establish new positions across the agency.

The LFO recommended a $157,799,346 other-funds budget (with $4,067,299 other funds nonlimited) for a total funds recommendation of $161,866,645, a 7.5% increase from current service levels. The recommendation in the dash-2 amendment includes 243 positions and 234.26 full-time equivalent (FTE) positions and was approved by the subcommittee and moved to the Ways and Means Full Committee with a due-pass recommendation.

Why it matters: The package increases staffing and one-time investments aimed at expanding portfolio management capacity, responding to growing unclaimed-property workloads (including virtual assets), and strengthening IT security and disaster-recovery capabilities at the Oregon State Treasury.

Walt, the Legislative Fiscal Office analyst, summarized the overall recommendation and the program-level packages. He told the committee the investment services program would rise to a recommended $62,200,924 in other funds and that package 106, "investment services capacity," as modified, increases other-funds expenditure limitation by $6,299,464 and establishes 13 positions (7.52 FTE) to support growth in managed investments…