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

Which Way to Chinatown?

February 2015
Monday, January 26, 2015
BY AMY MILSHTEIN | PHOTOS BY JASON E. KAPLAN

The Jade International District, already Portland's center of Asian life, is poised for rejuvenation. Where does that leave the westside's historic Chinatown?


Read more...

Photos from the 100 Best Companies to Work For in Oregon awards celebration

The Latest
Friday, February 27, 2015
IMG 9975cneditPHOTOS BY JASON E. KAPLAN

Images from the 2015 celebration of Oregon's great workplaces.


Read more...

4 married couples who work together

The Latest
Thursday, January 22, 2015
IMG 0020BY JACOB PALMER | OB DIGITAL NEWS EDITOR

They say maintaining a healthy marriage takes work. So does running a business with your spouse.


Read more...

Closing the Gap: The two Oregons and the way forward

February 2015
Monday, January 26, 2015
BY JOE CORTRIGHT

"Nostalgia is not an economic strategy."


Read more...

Grassroots movement pursues carbon bills

News
Tuesday, February 24, 2015
eventthumbBY KIM MOORE | OB RESEARCH EDITOR

A partnership of a grassroots environmental organization and a youth group is striving to build community and business support for carbon price legislation.


Read more...

Everything old is new again: How the EEOC is reinventing itself

Contributed Blogs
Tuesday, February 17, 2015
BY TAMSEN LEACHMAN | OB GUEST CONTRIBUTOR

It is important to understand the EEOC’s priorities, and ensure that your leadership understands the shifting expectations of regulators and the heightened standards to which you (and they) may be held.


Read more...

4 winners and losers in the Kitzhaber scandal

The Latest
Thursday, February 12, 2015
021315-govorno-thumbBY JACOB PALMER | OB DIGITAL NEWS EDITOR

Examining the governor's rapid fall from grace in a "bizarre" and "unprecedented" saga.


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