Budget-Note-Update----Forecasting-inflation-PCEF-allocations

2 B&F › Budget-Note-Update----Forecasting-inflation-PCEF-allocations — 1 pages · p. 293

Intro from p. 293

To: Jonas Biery, DCA of Budget & Finance From: Ruth Levine, City Budget Office Director CC: Mike Jordan, City Administrator Deputy City Administrators Mayor & Council Date: February 19, 2025 Re: FY 2024-25 Adopted Budget Note Updates Budget Note Title Forecasting inflation in multi-year PCEF allocations Primary Service Area Budget & Finance Due By 2/19/2025 Lead Ruth Levine Jonas Biery; Thomas Lannom; Ruth Levine; Peter Hulseman; Staff to include Claudio Campuzano; Jeramy Patton; Cecilia Huynh; Anthony Martin In Budget Concept? No Budget Concept DP # Budget Note Full Text With the understanding that the Approved Budget as filed includes General Fund discretionary resource ongoing is being swapped out and replaced with Portland Clean Energy Fund (PCEF) resource, and noting that ongoing General Fund discretionary allocations would grow with inflation, Council directs the City Budget Office to work with the Bureau of Planning & Sustainability to develop a methodology for imputing inflationary factors to the bureau program expenses backed by PCEF revenue and incorporate those inflationary increases into the annual budget process. Further, all bureaus receiving PCEF for multiple years should provide the PCEF team and CBO with details on the programmatic expenditures, inflation that they anticipate in each of the years of the PCEF allocation. Exclusive of inflation, that total budget should be within 1% above or below the initial PCEF allocation amount. Deliverable Detailed budgets for PCEF projects including inflation.

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See also

• Parent: 2 B&F
• Source PDF: FY-2025-26-Budget-Dev-Docs.pdf · open at p. 293
• Raw extracted pages: .extracted/pages/