[{"_1":2,"_99":-5,"_100":-5},"loaderData",{"_3":4,"_26":27},"root",{"_5":6,"_17":10,"_18":19,"_20":21,"_22":10,"_23":-5,"_24":-5,"_25":10},"user",{"_7":8,"_9":10,"_11":10,"_12":-5,"_13":-5,"_14":15,"_16":-5},"roles",[],"isAuthenticated",false,"isPremium","planName","subscriptionStatus","featureFlags",{},"insightsBudget","isDevelopmentHost","userPreferences",{},"recaptchaSiteKey","6LcvOJcUAAAAAHsB-gPGfGktcRlKpH7OTIU_dMTD","isImpersonating","impersonation","affiliateStatus","isFreedomPortal","routes/v2/article/layout",{"_28":29,"_30":31},"notFound",true,"relatedArticles",[32,75,87],{"_33":34,"_35":36,"_37":38,"_39":40,"_41":42,"_43":44,"_45":46,"_47":48,"_49":50,"_51":52,"_53":54,"_55":56,"_57":58,"_59":60,"_61":62,"_63":64,"_65":66,"_67":68,"_69":70,"_71":68,"_72":73,"_74":73},"mediaId",6626020,"mediaKeyId","2754800-1bcc19d0e0cb33b27d1c601cb5b90ae8","parentId",2754800,"title","Finance committee reviews spring technical adjustment, set-aside for police overtime","audioSeconds",2885,"startMs",468000,"endMs",3353000,"viewUrl","/Search/View?dp=1&key=2754800-1bcc19d0e0cb33b27d1c601cb5b90ae8&start=468&end=3353","thumbnailUrl","https://assets.pipeline.soar.com/2754800-1bcc19d0e0cb33b27d1c601cb5b90ae8/thumbnail_468000.jpg","articleUrl","/articles/6626020/Portland/Multnomah-County/Oregon/Finance-committee-reviews-spring-technical-adjustment-set-aside-for-police-overtime","mediaUrl","https://secure.pipeline.soar.com/6626020-9654be2e399448ebe92b2700df51ca7d/orig.mp4?Expires=1775463600&Signature=XYWKUJNlIEzDXTn5dy2p1OAXxiSeuJb3ajsyoXBYmuTE9J3IEWh7ic270l4dYj9LdFMIuPzI5cg~wcXPGy9kPKDw9kPo4yY16BgL~F4GWjWzmCYQurqNEMcWtbEaqiTMXEdOQ809hggIYtZPFetH8BhmJDBWuMVWBwA0apBMNG8NKTEejvN9VGoEVDp~EDzPIHIaIPfQOeTj2OLPbA9c64hmvivk4R6EJUMtnj2CNndle5GlY6MLkNRM5K486WfjjNZZjR76kT-ggRJ9IkV~ZTrAi2h8YievKar5Uq6TmZvonBGdHXNLq9Mg-vTMsmneAZobcYtmo6k82-7elRSSkw__&Key-Pair-Id=KUT5TJCACFTXG","author","City Council of Portland, OR","date","2025-03-24T21:04:03.077Z","article","Portland’s Finance Committee on March 24 received a briefing on the city’s spring technical adjustment ordinance — the supplemental budget process that moves one‑time amounts across fiscal years and recognizes revenues for fiscal 2024–25.

Ruth Levine, director of the City Budget Office, told the committee the ordinance the council will see next week is “for learning and information” now and that the immediate action expected is a de‑appropriation for the current year that will be counted as beginning fund balance in 2025–26. “Anything we don't spend this year is something we can use next year,” Levine said.

The discussion matters because the technical adjustment (sometimes called the spring bump) captures: bureau carryovers for multi‑year projects; technical adjustments that reclassify or move money between funds; newly recognized grant and other revenue; and contingency resources. Levine said the package submitted to the committee separates general fund carryovers (resources previously appropriated by council for a specific purpose that will be spent next year) from general fund returns (underspending returned to the general fund and available for new uses).

City staff walked the committee through three sets of general fund changes: carryover requests (items already started and asked to continue in 2025–26), general fund returns (underspending that becomes available), and policy set‑asides. Staff highlighted a $3.5 million policy set‑aside for police overtime that the prior council placed into contingency in the fall and which the bureau has requested to draw down this spring. Levine said that set‑aside was created to address “expected overtime expenditures” tied to uncertainties such as large events and demonstrations.

Nathan Leamy, who manages budgeting for the public safety service area, described operational factors driving police overtime. He said the bureau has roughly 100 sworn vacancies and that it takes roughly 18 months for a new recruit to finish training and reduce overtime demand. “That creates a lag between when somebody is hired and we start paying for their salary and when they can start reducing the amount of backfill overtime,” Leamy said. He added that large, lump‑sum retirement payouts and other contract‑driven liabilities also contribute to year‑to‑year swings in public safety personnel costs.

Committee members pressed for clarity on several points. Councilor Avalos asked for stronger documentation showing how much of a carried‑over appropriation is already spent versus how much remains to be executed next year; staff said full decision‑package narratives and line‑by‑line exhibits will be provided in the ordinance filing. Councilor Green asked whether the set‑aside was mainly for protests and large events; staff answered that May Day and the Rose Festival are foreseeable drivers but that the set‑aside also covers retirements and staffing‑related costs.

Staff outlined contingency and set‑aside definitions used in the package: unrestricted contingency is maintained per financial policy at $3.0 million; compensation set‑aside (an amount budgeted for inflation and benefit changes) was shown as a $13.2 million figure in the fall submission with about $1.8 million remaining in the current presentation; and capital set‑aside is a policy bucket that the council had waived for several years during the pandemic. Levine and staff noted the council waived the 50% capital set‑aside policy in recent years and that staff intend to revisit the capital set‑aside process for 2025–26.

Staff also acknowledged one slide showed a mismatch in totals (an earlier slide showed a roughly $7 million general fund carryover number while a later slide showed about $6 million) and said exhibits for the ordinance will correct and explain the differences.

There was no committee vote on the presentation. Levine and staff told councilors they will return next week with the ordinance, exhibits and a narrative memo that will place the technical adjustments into the mayor’s proposed budget and then to the council for final action.

The committee asked staff to ensure the ordinance and exhibits clearly identify: which carryover projects have already started and how far along they are; the original allocations to those projects; and the specific uses for any general fund returns. That documentation, staff said, will accompany the ordinance when it goes to the full council.","mediaType","Video","parentTitle","Portland City Council Finance Committee 03/24/25","oneSentenceSummary","Portland’s Finance Committee on March 24 received a briefing on the city’s spring technical adjustment ordinance — the supplemental budget process that moves one‑time amounts across fiscal years and recognizes revenues for fiscal 2024–25.","taxTitle","Portland, Multnomah County, Oregon","taxId",2765,"location","headline","","shortSummary",{"_33":76,"_35":36,"_37":38,"_39":77,"_41":78,"_43":79,"_45":80,"_47":81,"_49":82,"_51":83,"_53":84,"_55":56,"_57":58,"_59":85,"_61":62,"_63":64,"_65":86,"_67":68,"_69":70,"_71":68,"_72":73,"_74":73},6626010,"Finance Committee forwards six TIF debt‑service funds to full council; ordinances recommended for emergency consent",634,5090000,5724000,"/Search/View?dp=1&key=2754800-1bcc19d0e0cb33b27d1c601cb5b90ae8&start=5090&end=5724","https://assets.pipeline.soar.com/2754800-1bcc19d0e0cb33b27d1c601cb5b90ae8/thumbnail_5090000.jpg","/articles/6626010/Portland/Multnomah-County/Oregon/Finance-Committee-forwards-six-TIF-debtservice-funds-to-full-council-ordinances-recommended-for-emergency-consent","https://secure.pipeline.soar.com/6626010-f88e483c71b200e77ec088b377c6c33f/orig.mp4?Expires=1775463600&Signature=excWqychMOtlvO-YBvFzkz7uMoJZHddPHry1J5DGcbq87m5YgE1U4SuzcfDMAC8jiUPJpE1R~watz~eQwGseZ~-TenS8AfRdyZPJWcyvQsNW0d0~SGi31R~iVwU5U7D76-0n900XB32wlGtb7kM9mZxOuaodIC16nl90B8RhN06EbE3ug-RpAqkdZmTbmu-Ko5F5FR2Pi8UGqTANJJwAp4x4Z6uae4s~t23YLqBneJz~6MH1tCidcyhiFQWXi6DyKcN5N66SHxXTgNV3AY1yz8tCrup2omBHXbe-4ZMC2VckIqwzHhzFftLJFU8d7outd-tYlVysSqWwgnhltab5Og__&Key-Pair-Id=KUT5TJCACFTXG","Portland’s Finance Committee on March 24 moved six emergency ordinances to the full council to create new debt‑service funds for recently established tax‑increment financing (TIF) districts. Committee members said the action is largely administrative: creating the budgetary “bank accounts” that allow the city to recognize and track property‑tax revenues when the districts begin collecting revenue in fiscal 2025–26.

Jonas Beery, the city’s deputy administrator for budget and finance and chief financial officer, told the committee the funds are needed so the mayor’s proposed budget can reflect the TIF revenue streams for Prosper Portland and related program activity. Beery said the items are administrative and recommended they be placed on the April 2 full‑council consent agenda as emergency ordinances so the budget system can incorporate the funds in the mayor’s proposal.

The six funds and the committee’s recorded actions were:

- Create the 80 Second Avenue tax increment financing district debt service fund. Motion to forward: Councilor Green; second: Councilor Avalos. Roll call: Avalos — aye; Novick — aye; Green — aye; Councilor Guinee — aye; Zimmerman — aye. Motion carries; recommended to full council for passage.

- Create the East 205 tax increment financing district debt service fund. Motion to forward: Councilor Green; second: Councilor Avalos. Roll call: Avalos — aye; Novick — aye; Green — aye; Councilor Guinee — aye; Zimmerman — aye. Motion carries; recommended to full council for passage.

- Create the Central East Side Corridor tax increment financing district debt service fund. Public comment was taken from one stakeholder, Karen Chiray, who urged “responsible and transparent allocation” of TIF revenues and a clear plan for funded projects. Motion to forward: Councilor Avalos; second: Councilor Green. Roll call: Avalos — aye; Novick — aye; Green — aye; Councilor Guinee — aye; Zimmerman — aye. Motion carries; recommended to full council for passage.

- Create the Lloyd Holiday tax increment financing district debt service fund. Motion to forward: Councilor Perugini; second: Councilor Avalos. Roll call: Avalos — aye; Novick — aye; Green — aye; Councilor Guinee — aye; Zimmerman — aye. Motion carries; recommended to full council for passage.

- Create the Sumner Park/Rose/Argyle/Columbia tax increment financing district debt service fund. Motion to forward: Councilor Novick; second: Councilor Green. Roll call: Avalos — aye; Novick — aye; Green — aye; Councilor Guinee — aye; Zimmerman — aye. Motion carries; recommended to full council for passage.

- Create the Westside tax increment financing district debt service fund. Motion to forward: Councilor Green; second: Councilor Avalos. Roll call: Avalos — aye; Novick — aye; Green — aye; Councilor Guinee — aye; Zimmerman — aye. Motion carries; recommended to full council for passage.

Beery said Prosper Portland will develop TIF project plans and programs separately and annually. The committee discussion focused on the administrative need to create funds so the mayor’s proposed 2025–26 budget can include the districts’ property‑tax revenue streams; staff recommended emergency placement on the April 2 consent agenda so the funds are available for the budget system.

There was one public comment on the Central East Side Corridor item. Karen Chiray, a stakeholder who spoke during the committee’s public testimony period, urged that TIF revenues be allocated transparently to public infrastructure, transportation improvements and affordable housing and that each proposed project include projected budgets and timelines.

All six ordinances were forwarded to the full council with a recommendation they be passed as emergency ordinances on the consent agenda so they can be incorporated into the mayor’s proposed budget filing scheduled for May 7.","The Finance Committee voted March 24 to forward six emergency ordinances creating tax‑increment financing debt‑service funds to the full council. The funds are administrative budget accounts that let the city recognize property tax revenues for newly created urban renewal/TIF districts in the mayor’s proposed budget.",{"_33":88,"_35":36,"_37":38,"_39":89,"_41":90,"_43":91,"_45":92,"_47":93,"_49":94,"_51":95,"_53":96,"_55":56,"_57":58,"_59":97,"_61":62,"_63":64,"_65":98,"_67":68,"_69":70,"_71":68,"_72":73,"_74":73},6626014,"Water Bureau seeks interim line of credit to maintain filtration project during land‑use remand",1161,3882000,5043000,"/Search/View?dp=1&key=2754800-1bcc19d0e0cb33b27d1c601cb5b90ae8&start=3882&end=5043","https://assets.pipeline.soar.com/2754800-1bcc19d0e0cb33b27d1c601cb5b90ae8/thumbnail_3882000.jpg","/articles/6626014/Portland/Multnomah-County/Oregon/Water-Bureau-seeks-interim-line-of-credit-to-maintain-filtration-project-during-landuse-remand","https://secure.pipeline.soar.com/6626014-9611cfc8d8c8689c1a3ef6e4a19b8785/orig.mp4?Expires=1775463600&Signature=SozJpkvRdqprdvrPchDLtQo0-LdMN6mGs4qXxusj02O4xg18bfuedLwQOoramTogYB5tAthJE9WelWTP2C7jXJ-1YrVAcL8abP3INC-Q4-2fCTNj5IbGNsVNdkN1wEA9ootJmEXrP-fDNPC5YqeYSKi70oIy02kZBQeJ4Wd~0c~PDMliwXu7C4yWlpnE9VqLFxtAW94xf1eXucE27630qz4TNu4c69Ui0970Fv3vgUf3qXcMZyXCmPgerLqoRD8RlYn1bMKQVYAMJS2FfHZNXJ7-EQc~ZI40Iyd8fTnmAR3pXsUE2Of~~ED7WoQQGl127bmgYcD8V2kA-qpi~LQ4Pw__&Key-Pair-Id=KUT5TJCACFTXG","The Portland Finance Committee on March 24 heard an update from the Portland Water Bureau and the city’s finance team about the filtration plant project and an interim borrowing strategy to cover costs while construction is paused under a Multnomah County land‑use remand.

Jonas Beery, deputy city administrator for budget and finance and the city’s chief financial officer, told the committee the city seeks an interim borrowing facility — effectively a tax‑exempt line of credit — to bridge near‑term cash needs until it can regain access to federal WIFIA financing. “Part of the strategy with this interim borrowing is to bridge until we can regain access to that loan, at which point the line of credit would be repaid,” Beery said.

Jody, the Portland Water Bureau’s chief engineer, described the remand process and explained what the pause means for on‑site work. The project entered a pause on Feb. 25; under state guidance the county has 120 days from the remand to act, and staff estimated the pause could run 4 to 6 months depending on evidence in the record and hearings. While major earthmoving and many active construction activities are on hold, the bureau said it must continue daily inspection and repair of erosion control, maintain fencing and 24/7 security, manage delivery and placement of procured equipment, process thousands of submitted design documents and keep critical staff and contractors available to limit re‑mobilization costs.

Jody told the committee the city will face ongoing site, security, consultant and standby costs while the pause continues and said those carrying costs are “about $10 to $20 million per month,” depending on the mix of work authorized. The bureau is evaluating the balance between demobilizing (and incurring termination and re‑mobilization risk) versus keeping contractors and equipment in place to expedite a restart.

Matt Girock, the city’s debt manager, described the proposed interim facility’s likely structure: a variable‑rate, tax‑exempt, interest‑only line with a maximum three‑year term that can be prepaid when lower‑cost resources (such as WIFIA) are available. Girock said market pricing at the briefing would translate to roughly a 4.1% interest rate on drawn funds based on one‑month SOFR at that day’s market; an unused commitment fee on the undrawn line would be about 30 basis points.

Beery and Jody said the city has authority the previous council used to authorize borrowing for this purpose and they brought the item to the new council’s finance committee as an informational check‑in. The committee was not asked to vote on a borrowing measure at the March 24 meeting; staff said they will pursue a negotiated interim facility and return with formal documents as needed.

Councilors asked detailed questions. Councilor Green asked whether the expected near‑term events (May Day, Rose Festival) were the drivers of police or public safety overtime referenced in the budget discussion; staff answered that protests and events are one driver among several, including retirements and vacancies. Councilor Green and others asked whether the bureau had considered alternatives to the filtration project that would avoid land‑use review; Jody said the team had not identified an alternative that would avoid the same land‑use process.

Committee members requested follow‑up detail on the debt terms and timeline. Staff said they expect to document and close a negotiated interim facility within roughly six weeks of receiving authorization to proceed; the stated repayment plan is to prepay the interim facility with proceeds from WIFIA or long‑term municipal bonds once those resources are accessible.

There was no committee vote recorded on the borrowing; staff said they would return if the pause extends or significant changes arise.","Portland Water Bureau and finance staff told the committee March 24 they plan interim, tax‑exempt borrowing to cover essential site and standby costs while a land‑use remand pauses construction. Staff described a bridging strategy to repay the facility when federal WIFIA financing becomes available.","actionData","errors"]

Article not found

Finance committee reviews spring technical adjustment, set-aside for police overtime

Finance Committee forwards six TIF debt‑service funds to full council; ordinances recommended for emergency consent

Water Bureau seeks interim line of credit to maintain filtration project during land‑use remand