Portland works to fix $25M budget shortfall

| Print |  Email
Must Reads
Thursday, March 07, 2013

Portland Mayor Charlie Hales is working with his staff to find solutions to the city's $25 million general fund budget shortfall.

The city’s outstanding debt has grown 31 percent since the recession hit five years ago, and the unfunded liability for its police and fire pension system has grown 40 percent. During the same period, the value of property kept off the tax rolls to pay for urban renewal debt has grown 45 percent.

Hales concedes the public may be skeptical about the gravity of the $25 million general fund shortfall. A year ago, his predecessor, Sam Adams, faced a $14 million general fund shortfall, but somehow managed to find $7 million to send to area school districts.

Read more at The Portland Tribune.

{biztweet}portland budget{/biztweet}

 

More Articles

Greenpeace (temporarily) prevents Shell oil ship from leaving Portland

The Latest
Thursday, July 30, 2015
hangersBY JASON E. KAPLAN | STAFF PHOTOGRAPHER

Greenpeace activists suspended themselves from the St. John's Bridge in an attempt to prevent a ship from heading to the Arctic.


Read more...

Aim High

September 2015
Thursday, August 20, 2015
BY JOE CORTRIGHT

We get the education we deserve.


Read more...

Living the dream

News
Friday, August 21, 2015

smugglespearsthumbRenee Spears, founder and owner of Portland-based Rose City Mortgage, is hot to trot to sell pot.


Read more...

Fueling Up for the Climb

July/August 2015
Friday, July 10, 2015
BY GREGG MORRIS

Rita Hansen aims to scale natural gas vehicle innovation.


Read more...

Wildcards

Guest Blog
Tuesday, July 28, 2015
072815fergusonthumbBY JASON NORRIS

Uncertainty in Greece and China, along with potential interest rate hikes mean investors are looking at the market and nervously questioning where they should be invested.


Read more...

House of Clarity

July/August 2015
Monday, July 13, 2015
BY JACOB PALMER

Holding a Power Lunch at Veritable Quandary in downtown Portland.


Read more...

Balancing Act

July/August 2015
Friday, July 10, 2015
BY DAN COOK

The Affordable Care Act has triggered a rush on health care plan redesign, a process fraught with hidden costs and consequences.


Read more...
Oregon Business magazinetitle-sponsored-links-02
SPONSORED LINKS