Citywide Obligations Reserve Fund
Source: PDF pp. 1001-1002 ↗ · raw: 1001 · 1002
Breadcrumb: Fund Summaries > Citywide > Citywide Obligations Reserve Fund
City of Portland Fiscal Year 2026-27 Proposed Budget Citywide> Citywide Obligations Reserve Fund Citywide Obligations Reserve Fund Fund Summary 2024-25 Actuals 2023-24 Actuals 2025-26 Revised Budget 2026-27 Proposed Expense $66,754,806 $44,262,739 $64,242,741 $67,416,968 Bureau Expense $11,121,451 $9,296,526 $12,074,472 $12,697,032 Fund Expense $8,055,018 $4,944,509 $52,168,269 $54,719,936 Contingency $0 $0 $43,068,182 $32,188,192 Fund Transfers - $8,055,018 $4,944,509 $9,100,087 $22,531,744 Expense Unappropriated $47,578,338 $30,021,704 $0 $0 Ending Fund Balance $47,578,338 $30,021,704 $0 $0 Revenue $66,754,805 $44,262,739 $64,242,741 $67,416,968 External Revenues $10,248,793 $18,059,679 $6,717,346 $11,060,798 Intergovernmental $8,419,975 $17,333,570 $6,268,971 $10,602,423 Miscellaneous $1,828,818 $726,108 $448,375 $458,375 Internal Revenues $56,506,012 $26,203,060 $57,525,395 $56,356,170 Beginning Fund $30,021,704 $16,118,624 $45,360,759 $44,429,806 Balance Fund Transfers - $19,676,050 $7,772,302 $9,102,036 $8,514,078 Revenue Interagency Revenue $6,808,258 $2,312,134 $3,062,600 $3,412,286 Fund Overview The Citywide Obligations Reserve Fund (CORF) was established in December 2019. The CORF supports the goals of the City’s comprehensive financial management policies to guide decision making, to support long-term planning, to maintain assets and infrastructure, and to minimize financial risk. This fund promotes intra-bureau collaboration by creating a mechanism for multiple bureaus and funds to contribute to Citywide goals in a central location. Resources supporting CORF are dependent on the obligation against which is being reserved. The participating bureaus or funds will contribute to the fund as appropriate and approved by City Council. The most significant multi-bureau expense in the CORF is for the Portland Harbor Superfund clean-up. The CORF also includes sub-funds for the Revenue Division’s Integrated Tax System (ITS) cost share, Procurement Services’ Community Opportunities and Enhancements Program (COEP), the Columbia Ready Levee project, the Police Oversight Board, and the Citywide Legal Priorities Reserve Fund. Managing Agency 1001
City of Portland Fiscal Year 2026-27 Proposed Budget City Budget Office Significant Changes from Prior Year The FY 2026-27 Proposed Budget includes an elimination of the Police Oversight Board set-aside, budgeting the full charter required amount directly to the bureau, transfers $7 million from the Portland Harbor Set-Aside to the General Fund for discretionary purposes, and transfers $700,000 from underspending in the Fire Wellness Fund. 1002
Parent: Citywide · PDF: pp. 1001-1002 ↗