PORTLAND, Ore. (AP) -- Special Olympics Oregon has canceled next month's state competition because of financial problems.
The organization said Monday the decision was made after an internal financial review that occurred after the hiring of a new chief executive officer and chief financial officer. The organization said it will instead focus on local programs.
The Portland Business Journal reported that Special Olympics Oregon lost $325,000 on $4.5 million in revenue in 2016, the most recent annual report made public.
In addition to existing debt, the organization said there is limited cash available for required pre-payments to vendors for the infrastructure necessary to hold the State Games competition.
Special Olympics Oregon serves more than 14,000 participants with intellectual disabilities. About 1,500 had been expected to take part in the state competition.