Portland will have $5.9 million in ongoing revenue to spend during the next five fiscal years.
Portland will have $5.9 million in ongoing revenue to spend during the next five fiscal years.
An uptick in property tax and business license tax revenue, low inflation numbers keeping down employees’ cost of living adjustments and the city’s decision to pay down outstanding debt combined to create the $5.9 million figure, city officials said.
City officials could use the money to create new programs next year or pay down existing debt. Costs tied to cleanup efforts along the Willamette River’s Superfund area could require general fund expenditures “over the next several years,” according to the forecast.
Read more at OregonLive.com.
