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Portland's budget office has released its latest forecast, and the news is good for Portland's general fund discretionary budget—record revenue, including an additional $9 million a year for the next five years.
And that's not including the $16.4 million in so-called one-time money that Mayor Charlie Hales can set aside for 2016-17 on anything he and the City Council choose.
The additional resources—the result of rising revenue from business licenses and lodging taxes, as well as low inflation and stable health care costs—mean Hales will leave office (and the next mayor) with a far rosier budget outlook than he inherited four years ago.
The revenue increases aren't a surprise. Portland's forecast has been on the upswing for a while. Despite that, Hales called on commissioners and bureau leaders in November to prepare to make budget cuts so he could shift money to two priorities—more housing and fighting gun violence.
Hales will unveil his plans for how to spend Portland's $492.8 million budget for 2016-17 on Monday at City Hall at 10:30 am.
Willamette Week