Guide to Financial Summaries

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Breadcrumb: Guide to Financial Summaries

Guide to Financial Summaries Guide to Financial Summaries

Guide to Financial Summaries Introduction The Financial Summaries section contains a variety of tables intended to help the reader view the budget as a whole, and includes consolidated budget figures across all the City’s funds and bureaus. The tables in this section only include the City’s General Fund funding for Prosper Portland, which is a semi-autonomous agency that operates under City charter but is budgeted separately and has other funding sources. Summary Tables Total City Budget Table 1, Total City Budget - Resources and Requirements, offers the broadest picture of the City budget. The table includes FY 2022-23 Actuals, FY 2023-24 Actuals, the FY 2024-25 Revised Budget reflecting through accounting period 8 (February 28, 2024), and the FY 2025-26 Proposed Budget. Table 1 shows the budget broken out into major revenue and expense classes. There are two types of major expense classes: bureau expenses and fund expenses. Bureau expenses are the types of operating and capital expenditures that result from the provision of programs or services by the City’s bureaus. Categories of bureau expenses are personnel services, external materials and services, internal materials and services, and capital outlay. Fund expenses are financial requirements for a fund to meet its obligations such as contingencies, debt service, and interfund transfers. The Citywide totals in Table 1 and elsewhere show the sum of the various funds and a net budget figure. The net budget subtracts the double count caused by interfund transfers and internal materials and services. Appropriation Table 2, the Appropriation Schedule, is a legally required summary of budgeted Schedule expenditures by bureau, by fund. Appropriations are divided into bureau program expenses and fund expenses. Fund expenses are divided into contingency, interfund cash transfers, and debt service. Bureau Expenses Table 3, Summary of Bureau Expenses by Fund, shows the amount budgeted for each major bureau expense category. The total column of Table 3 is equal to the first column in Table 2. Resources Table 4, Summary of Resources by Fund, provides a more detailed view of the major revenue types received by each bureau. General Fund discretionary revenues are included in other external revenue. Total Budget by Table 5, Total Resources and Requirements by Fiscal Year, shows the total budget Fiscal Year for all bureaus in the budget year, current year, and two prior years. Tax Levy Table 6, Tax Levy Computation, outlines City property tax levy calculations. It Computation includes Measure 5 and Measure 47/50 tax base, operating property tax revenues, and general obligation bond debt service property tax revenues. The table states total requirements for each tax supported fund less nontax revenues, which leaves the amount the fund receives in current year tax revenues. This amount is then factored up for delinquencies and any applicable Measure 5 and 50 losses. The result is a certified property tax levy for each fund. 26 City of Portland, Oregon - FY 2025-26 Proposed Budget

Guide to Financial Summaries Urban Renewal Table 7, Urban Renewal Certification, shows estimated FY 2025-26 tax increment Certification collections for the City’s urban renewal districts. Authorized Positions Table 8, Summary of Authorized Positions, is a summary of the full-time equivalent positions authorized by Council through the budget process. The figures include regular part-time positions, limited term positions, and regular full-time positions. General Fund Table 9, General Fund Resources and Requirements, summarizes the budget for the Revenues and General Fund, one of the City’s largest, most visible, and most flexible funds. It Expenses shows the different sources of revenue, the budgets for individual bureaus within the General Fund, and the fund level expenses. The table compares the FY 2024-25 Revised Budget to the FY 2025-26 Proposed Budget. Table 9 also shows what portion of a bureau’s budget is supported with discretionary General Fund resources. Some General Fund revenues, known as nondiscretionary resources, are restricted to certain purposes by contract or policy. For instance, Portland Parks & Recreation generates fee income from its recreation programs that City Council has decided to dedicate for parks and recreation functions. The major types of nondiscretionary resources are intergovernmental revenues, services charges, permits, fees, and service reimbursements. Overhead recovery from non-General Funds cover these funds’ share of the cost of services provided by central administrative bureaus within the General Fund. A bureau’s discretionary budget does not include nondiscretionary resources, and thus represents the bureau’s allocation of those dollars over which the City Council exercises discretion, such as property taxes, business license revenue, and utility license fees. Operating and Table 10, Operating and Capital Budget, summarizes the operating and capital Capital Budget expenditures included in bureau budgets for the FY 2024-25 Revised Budget and FY 2025-26 Proposed Budget by bureau and fund. Capital Budget by Table 11, Capital Budget by Bureau, summarizes the Citywide Capital Bureau Improvement Plan (CIP) Budget for each bureau. Capital Budget by Table 12, Capital Budget by Geographic Area, shows CIP budgets by geographic Geographic Area area for each bureau. Some capital projects overlap districts and are reflected in the geographic areas of east, west, north, or citywide. City of Portland, Oregon - FY 2025-26 Proposed Budget 27

Parent: Portland FY 2025-26 Proposed Budget · PDF: pp. 29-32 ↗