Sewer System Debt Redemption Fund

Source: PDF pp. 1128-1129 ↗ · raw: 1128 · 1129

Breadcrumb: Fund Summaries > Public Works. > Sewer System Debt Redemption Fund

City of Portland Fiscal Year 2026-27 Proposed Budget Public Works> Sewer System Debt Redemption Fund Sewer System Debt Redemption Fund Fund Summary 2024-25 Actuals 2023-24 Actuals 2025-26 Revised Budget 2026-27 Proposed Expense $389,159,424 $161,387,367 $152,180,298 $157,501,889 Fund Expense $373,115,880 $137,785,675 $152,180,298 $157,501,889 Debt Service $373,115,880 $137,785,675 $144,953,576 $150,275,167 Debt Service $0 $0 $7,226,722 $7,226,722 Reserves Unappropriated $16,043,544 $23,601,692 $0 $0 Ending Fund Balance $16,043,544 $23,601,692 $0 $0 Revenue $389,159,424 $161,387,367 $152,180,298 $157,501,889 External Revenues $218,425,045 $609,557 $750,000 $200,000 Bond & Note $217,700,547 $0 $0 $0 Proceeds Miscellaneous $724,498 $609,557 $750,000 $200,000 Internal Revenues $170,734,379 $160,777,810 $151,430,298 $157,301,889 Beginning Fund $23,601,692 $23,554,165 $7,226,722 $7,226,722 Balance Fund Transfers - $147,132,687 $137,223,645 $144,203,576 $150,075,167 Revenue Fund Overview The Sewer System Debt Redemption Fund pays the principal and interest on revenue bonds, notes, and state loans issued to finance sewer system improvements. The primary resources for the Sewer System Debt Redemption Fund are cash transfers from both the Sewer System Operating Fund and the Systems Development Charge Fund (SDC Fund). The SDC Fund revenues are used exclusively for the payment of debt service and are transferred periodically from the SDC Fund to the Sewer System Debt Redemption Fund. Any cash transfer revenue from the SDC Fund will offset the cash transfer revenue from the Sewer System Operating Fund. The fund is managed on a cash basis with cash transfers from the Sewer System Operating Fund set to maintain a $10,000 unrestricted ending cash balance plus any restricted cash balances that are required by bond and loan covenants. Managing Agency Bureau of Environmental Services Significant Changes from Prior Year 1128

City of Portland Fiscal Year 2026-27 Proposed Budget The beginning fund balance is $7.2 million which is approximately the same as the revised 2025-26 budget and primarily reflects the required cash funded reserves for certain outstanding bonds. Fund transfer revenue are projected to increase by $5.8 million or 4.1% in the FY 2026-27 requested budget due to the net impact of a new interest payment on the bonds issued in the Fall and lower debt service on outstanding bonds due to a recent refunding. Miscellaneous revenues are projected to decrease in FY2026-27 to $200,000 from $750,000 in the 2025-26 revised budget due to lower investment earnings projections from lower cash funded reserve balances. Debt service expenditures for the FY 2026-27 adopted budget are $150 million, reflecting an increase of $5.3 million or 3.7%, primarily due to the net impact of a new interest payment on the bonds issued in the Fall and lower debt service on outstanding bonds due to a recent refunding. The total amount of sewer system debt outstanding at the beginning of FY 2026-27 is estimated to be $84.7 million for the first lien bonded debt, $1.40 billion for second lien bonded debt and $0.62 million for SRF loans, for a total debt outstanding of $1.49 billion. 1129

Parent: Public Works. · PDF: pp. 1128-1129 ↗