Home Must Reads Portland works to fix $25M budget shortfall
Portland works to fix $25M budget shortfall | Print |  Email
Pin It
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.
 
BELOW: Current talk on Twitter on this topic
Loading...

    Add comment

    Security code
    Refresh

    Oregon Business magazine

    title-sponsored-links-02
    SPONSORED LINKS

    Lane Powell

    Vernon Promotional Products

    Documart-250px