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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.

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.

And Republican lawmakers in the Minnesota House are surveying state agencies ahead of the 2025 legislative session about areas for budget reductions. Those stories and more in today’s evening ...

Much colder and drier today. Dry and chilly tomorrow as well. Clear skies. Cold. Low near 25F. Winds light and variable. 25°F Clear skies. Cold. Low near 25F. Winds light and variable. Clear ...