Portland leaders are staring down “difficult decisions” after a new budget forecast shows a higher budget shortfall than ...

PORTLAND, Ore. (KOIN) – Portland leaders are staring down “difficult decisions” after a new budget forecast shows a higher budget shortfall than previously projected, the city announced Tuesday.

Create an account or log in to save stories. The state’s latest economic forecast, revealed Dec. 4, predicts less revenue than expected and higher-than-expected costs for some government programs.

That’s according to a new budget forecast presented by Kim Buselmeier, the city’s interim chief financial officer, during City Council’s annual planning session Monday, Dec. 9.

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This backlog gives us confidence in our 5% average annual earnings growth forecast during the next ... our estimate and management's $8.2 billion budget at the beginning of 2024.

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That's an increase of 4.8 per cent over the budget for 2024. The budget forecast also calls for the city to hire 36 more police officers, but most would not be hired until 2026 or 2027.