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Budget midyear: Beaverton reports revenues tracking but warns of structural shortfall driven by pensions and health costs
Summary
City finance staff told the council that overall revenues were tracking and that the city’s multi‑fund budget is about 31% spent; staff and the city manager reiterated a multi‑year structural challenge, citing historical shortfalls and a current forecast gap of about $11 million without structural changes.
Beaverton finance staff and the city manager gave councilors a midyear budget update that showed revenues tracking in most categories, a general fund that is roughly 43% spent year‑to‑date, and a multi‑year structural forecast that remains a concern.
Finance staff reported the city’s total budget across all funds is about $525 million. The presentation separated “beginning working capital” from operating revenues to show that working capital comprises a large portion of available resources in capital and utility funds. City staff said property tax receipts are about 94%…
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