PDX Clean Energy Fund
Source: PDF pp. 1086-1087 ↗ · raw: 1086 · 1087
Breadcrumb: Fund Summaries > Community & Economic Development. > PDX Clean Energy Fund
City of Portland Fiscal Year 2026-27 Proposed Budget Community & Economic Development> PDX Clean Energy Fund PDX Clean Energy Fund Fund Summary 2024-25 Actuals 2023-24 Actuals 2025-26 Revised Budget 2026-27 Proposed Expense $862,397,697 $706,069,394 $962,285,139 $836,451,542 Bureau Expense $105,392,971 $36,673,217 $611,361,271 $367,931,204 Fund Expense $17,462,551 $119,084 $350,923,868 $468,520,338 Contingency $0 $0 $307,738,625 $426,773,744 Debt Service $2,034,250 $0 $2,037,000 $0 Fund Transfers - $15,428,301 $119,084 $41,148,243 $41,746,594 Expense Unappropriated $739,542,176 $669,277,093 $0 $0 Ending Fund Balance $739,542,176 $669,277,093 $0 $0 Revenue $863,397,692 $706,069,394 $962,285,139 $836,451,542 External Revenues $194,113,102 $217,743,934 $222,742,963 $231,090,274 Charges for Services $4,396 $0 $0 $0 Miscellaneous $26,890,729 $18,699,480 $25,066,963 $28,472,374 Miscellaneous Fund $0 $0 $0 $0 Allocation Taxes $167,217,977 $199,044,455 $197,676,000 $202,617,900 Internal Revenues $669,284,590 $488,325,460 $739,542,176 $605,361,268 Beginning Fund $669,277,093 $488,325,460 $739,542,176 $605,361,268 Balance General Fund $0 $0 $0 $0 Discretionary Interagency Revenue $7,497 $0 $0 $0 Miscellaneous Fund $0 $0 $0 $0 Allocation Fund Overview The Portland Clean Energy Community Benefits Fund (PCEF) accounts for expenses and revenues associated with the City’s collection of the Clean Energy Surcharge, administration of the PCEF program, and distribution of grant and program resources. Revenue for PCEF comes from the proceeds of the Clean Energy Surcharge (CES), a one-percent Large Retailer business surcharge that is expected to generate approximately $200 million in FY 2026-27 and subsequent years. The Portland Clean Energy Community Benefits Fund (PCEF) supports community-led investments that expand access to clean energy, improve energy efficiency, create family-wage jobs and help Portland households' lower energy costs. 1086
City of Portland Fiscal Year 2026-27 Proposed Budget Managing Agency Bureau of Planning & Sustainability (BPS) Significant Changes from Prior Year FY 2023-24 through FY 2025-26 marked an important period of growth and refinement for PCEF following program code updates adopted by City Council in October 2022 and the Climate Investment Plan (CIP) adopted in October 2023, as subsequently amended. During this period, PCEF expanded implementation of new strategic programs, increased investments managed through partner City bureaus and continued to scale its community grantmaking and program delivery infrastructure. In the process, PCEF helped strengthen program accountability, clarified investment priorities, and expanded the City’s ability to deliver community benefits through clean energy and climate projects. FY 2026-27 will continue this transition from planning to full implementation. The program will advance and scale multiple strategic programs identified in the CIP, including programs administered by partner bureaus and external partners. The fund will also support implementation of previously awarded community grants, including Collaborating for Climate Action grants; award new community grants; continue contracting for and launching remaining CIP programs; and provide oversight of an increasingly complex portfolio of projects and partnerships. As PCEF’s portfolio continues to grow in size and complexity, BPS will continue working with the City Budget Office and other central service partners to strengthen fund forecasting, cash flow planning, financial oversight, reporting, and long-term implementation models needed to support effective administration of the fund. 1087
Parent: Community & Economic Development. · PDF: pp. 1086-1087 ↗