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Public Works.

Fund Summaries > Public Works. -- 40 pages · pp. 1104-1143 ↗

Intro from p. 1104 ↗

City of Portland Fiscal Year 2026-27 Proposed Budget Public Works Funds 2024-25 Actuals 2023-24 Actuals 2025-26 Revised Budget 2026-27 Proposed 2020 Parks Local Option $100,179,739 $100,220,198 $82,006,667 $91,187,951 Levy Fund Environmental $37,561,015 $34,619,411 $48,973,525 $46,915,968 Remediation Fund Gas Tax Bond Redemption $10,116 $10,116 $0 $0 Fund Golf Fund $25,689,586 $23,553,442 $25,786,671 $24,420,427 Hydroelectric Power $4,161,856 $4,734,364 $6,425,234 $6,073,397 Operating Fund Hydroelectric Power Renewal Replacement $111,457 $111,457 $111,456 $111,456 Fund Parking Facilities Fund $10,966,011 $17,339,699 $10,343,260 $10,645,769 Parks Capital Improvement $225,162,873 $227,565,498 $204,874,502 $147,740,882 Program Fund Parks Endowment Fund $214,606 $206,740 $220,190 $227,604 Portland International $4,175,087 $4,020,827 $4,057,656 $4,218,255 Raceway Fund Portland Parks Memorial $20,951,564 $22,809,803 $21,763,901 $21,777,980 Fund Sewer System $475,477,259 $372,928,869 $315,995,783 $408,165,576 Construction Fund Sewer System Debt $389,159,424 $161,387,367 $152,180,298 $157,501,889 Redemption Fund Sewer System Operating $765,699,638 $775,398,179 $815,397,295 $783,880,361 Fund Sewer System Rate $138,587,162 $133,356,790 $148,700,000 $157,116,712 Stabilization Fund Transportation Operating $432,838,188 $488,309,256 $500,590,271 $439,856,063 Fund Transportation Reserve $13,109,490 $11,937,351 $14,209,490 $15,309,490 Fund Water Bond Sinking Fund $244,508,766 $77,051,813 $86,180,409 $98,917,001 Water Construction Fund $350,270,246 $167,660,030 $844,347,955 $890,690,956 Water Fund $882,532,908 $652,383,401 $1,243,916,433 $1,106,303,450 Grand Total $4,121,366,990 $3,275,604,613 $4,526,080,996 $4,411,061,187 1104

Contents

Section PDF pages Description
[doc] 2020 Parks Local Option Levy Fund pp. 1105-1106 ↗ The 2020 Parks Local Option Levy Fund is a five-year voter-approved levy established November 2020 to preserve park services and natural areas. FY 2026-27 marks the final year of the 2020 levy ($91.2M proposed expense) and the first year of the newly approved 2025 Parks Levy. The new levy dedicates $1.37 per rate for operations and $0.03 for capital maintenance. The fund historically carries substantial fund balances; 2024-25 actuals show $36.4M ending balance.
[doc] Environmental Remediation Fund pp. 1107-1108 ↗ The Environmental Remediation Fund, managed by the Bureau of Environmental Services, budgets $46.9M for FY 2026-27 to remediate former solid waste sites and support the Portland Harbor Superfund program. Key changes include increased external materials and services spending ($9.8M, +56.7%) for Monsanto settlement deployment, decreased personnel costs as design phases wind down, and reduced fund transfers. Beginning fund balance is $28.8M with contingency decreasing by $2.7M.
[doc] Gas Tax Bond Redemption Fund p. 1109 ↗ The Gas Tax Bond Redemption Fund, managed by the Portland Bureau of Transportation, matches revenues and expenditures for debt financing of transportation projects using gas tax revenues. The fund held $10,116 through 2024-25 but shows zero balances for 2025-26 and 2026-27 because no debt remains in the fund.
[doc] Golf Fund pp. 1110-1111 ↗ The Golf Fund is an enterprise fund managed by Portland Parks & Recreation with $24.4M in proposed 2026-27 expenditures funded primarily by green fees and golf services ($18.2M). Recent contract changes shifted revenue recognition, and the fund faces operational risks from inflation, weather impacts, and aging infrastructure. A contingency reserve covers "one bad year out of three," though the FY 2025-26 budget reduced the infrastructure maintenance reserve by $3.1M.
[doc] Hydroelectric Power Operating Fund pp. 1112-1113 ↗ The Hydroelectric Power Operating Fund, managed by Portland Water Bureau, supports the Portland Hydroelectric Project through administration, operation, and monitoring. Funded primarily by power sales from Portland General Electric (PGE), the FY 2026-27 proposed budget totals $6,073,397 in expenses. The proposed budget includes approximately $0.3 million increase in Bureau Expense for operating and maintenance costs compared to the prior year.
[doc] Hydroelectric Power Renewal Replacement Fund p. 1114 ↗ The Hydroelectric Power Renewal and Replacement Fund is a capital fund managed by Portland Water Bureau supporting the Portland Hydroelectric Project. With a 2026-27 proposed budget of $111,456, the fund is designated for repair and replacement of major equipment and facilities. Notably, no new transfers are planned for the upcoming fiscal year.
[doc] Parking Facilities Fund pp. 1115-1116 ↗ The Parking Facilities Fund supports SmartPark Program, operating 5 City-owned parking garages in downtown Portland with approximately 3,800 parking spaces, 71,800 sq ft of commercial space, and a public heliport. FY 2026-27 proposed expenses are $10.6M with revenues of $10.6M. Revenue is currently running at approximately half pre-COVID levels, requiring major maintenance projects to be deferred until FY 2028-29.
[doc] Parks Capital Improvement Program Fund pp. 1117-1119 ↗ The Parks Capital Improvement Program Fund manages capital resources for Portland Parks & Recreation. The 2026-27 proposed budget of $147.7M represents a significant decline from $204.9M in 2025-26. Key challenges include System Development Charge revenues dropping from ~$40M to <$1.5M due to a 3-year residential SDC waiver and declining construction permits. Major maintenance funding is depleted despite infrastructure needs growing faster than available resources. The fund relies on multiple revenue sources: Metro Parks and Nature Bond ($31.8M local share), Build Portland ($15M), 2014 Parks Replacement Bond (52 projects completed), State Lottery ($15M for Aquatic Center), and 2025 Capital Levy.
[doc] Parks Endowment Fund pp. 1120-1121 ↗ The Parks Endowment Fund manages gifts, donations, and permanent endowments whose earnings support parks programs as directed by donors. Four endowments exist: F.L. Beach Curbside Rose Award Trust (1975, rose awards), Parks Maintenance Endowment (2002-03, reinvested for future park maintenance), Washington Park Children's Playground Endowment ($75,000 from Portland Rotary Club), and Dietz Fountain at Wallace Park Endowment (2003-04, $4,500 original gift). FY 2026-27 shows no substantial changes.
[doc] Portland International Raceway Fund pp. 1122-1123 ↗ The Portland International Raceway Fund is an enterprise fund operated by Portland Parks & Recreation accounting for PIR management and operations. The 2026-27 proposed budget totals $4.2M in both expenses and revenue with no substantial changes. Primary revenue sources include facility rentals, food/beverage percentages, advertising, and sponsorships. Key risks include inflation, event availability volatility, and insufficient capital maintenance reserves.
[doc] Portland Parks Memorial Fund pp. 1124-1125 ↗ The Portland Parks Memorial Fund receives grants and donations with restricted purposes from foundations, friends organizations, and neighborhood associations. FY 2026-27 shows total revenue of $21.78M with bureau expenses of $20M, drawing from a beginning fund balance of $15.4M. No substantial changes are noted.
[doc] Sewer System Construction Fund pp. 1126-1127 ↗ The Sewer System Construction Fund finances sewer capital projects through bond proceeds, operating fund transfers, and connection charges. FY 2026-27 begins with approximately $90.9M in fund balance (per table) though narrative cites $69.9M, and anticipates $235M in new bond sales in Fall 2026. Fund transfer expenses of $177.6M reimburse operating fund CIP expenditures, with contingency of $198.1M reflecting remaining bond proceeds and operating fund transfers.
[doc] Sewer System Debt Redemption Fund pp. 1128-1129 ↗ The Sewer System Debt Redemption Fund finances sewer infrastructure through revenue bonds and loans, managed by the Bureau of Environmental Services. FY 2026-27 expenses total $157.5M, primarily debt service of $150.3M. Fund transfer revenue increases 4.1% ($5.8M) due to new bond interest and refunding benefits. Beginning fund balance is $7.2M. Total outstanding sewer debt is estimated at $1.49 billion: $84.7M first lien, $1.40B second lien, and $0.62M SRF loans.
[doc] Sewer System Operating Fund pp. 1130-1132 ↗ The Sewer System Operating Fund manages Portland's sanitary sewer and storm drainage operations. FY 2026-27 proposed expenses are $783.9M, down from $815.4M in the prior revised budget. Charges for services are forecast at $458.3M (5.6% increase). Key changes include 3% personnel cost increases, reduced capital outlay of $126.9M following the Secondary Treatment Expansion Project, and contingency budgeted at $88.2M to preserve credit quality.
[doc] Sewer System Rate Stabilization Fund pp. 1133-1134 ↗ The Sewer System Rate Stabilization Fund, managed by the Bureau of Environmental Services, is budgeted for $157.1M in total expenses in FY 2026-27. The fund's beginning balance grows to $151.4M, with contingency increasing to $154.1M to manage rate fluctuations. Interest earnings are projected at $5.6M, and transfers to the Sewer Operating Fund remain at $5M while transfers in decrease by $2M.
[doc] Transportation Operating Fund pp. 1135-1136 ↗ The Transportation Operating Fund accounts for Portland Bureau of Transportation operations, maintenance, capital improvements, and administration. FY 2026-27 proposed total expense is $439.9M, a 4.5% decrease in total resources from FY 2025-26, driven by lower beginning fund balance and State Highway Fund distributions. Main reductions are in capital outlay ($19M) and contingency ($8M).
[doc] Transportation Reserve Fund pp. 1137-1138 ↗ The Transportation Reserve Fund, established in FY 1992-93, maintains countercyclical and emergency reserves—each set at 5% of Portland Bureau of Transportation's gas tax and on-street parking revenues. Current reserves fall below policy-required levels, so the fund will receive $700,000 annually from the Transportation Operating Fund until requirements are met. The FY 2026-27 proposed expense is $15,309,490.
[doc] Water Bond Sinking Fund p. 1139 ↗ The Water Bond Sinking Fund finances principal and interest payments on revenue bonds issued for water system improvements, managed by Portland Water Bureau. The FY 2026-27 proposed budget allocates $98.9 million in debt service, funded by a transfer from the Water Fund. Bond reserve accounts are maintained in this fund with no current reserve requirement specified in bond covenants.
[doc] Water Construction Fund pp. 1140-1141 ↗ The Water Construction Fund is the capital fund for the Portland Water Bureau, managing equipment and capital expenditures for the water system. The FY 2026-27 proposed budget totals $890.7 million in revenue and $622.6 million in fund expenses. Key drivers include $591 million in planned bond proceeds, a $110.1 million decrease in fund expenses from the prior year, and reduced system development charges due to the Temporary SDC Exemption Program and lower development activity.
[doc] Water Fund pp. 1142-1143 ↗ The Water Fund is Portland Water Bureau's operating fund covering water operations, maintenance, and capital assets. The FY 2026-27 proposed budget of $1.11B reflects a $137.6M reduction from FY 2025-26, driven primarily by $109.7M lower transfers from the Water Construction Fund and reduced beginning fund balance. Expense reductions include $110.4M in Bureau Expense and $27.2M in Fund Expense, with significant cuts to Capital Outlay and External Materials and Services.

See also