BN21_Financial_Trends_BiB-Onl_3pgs_(Gen_Ec_Res and Req)_w_ONL_Pies_AdoptedGENERAL AND ECONOMIC INFORMATION
Lake Oswego is located in northwestern Oregon, south of the Portland metropolitan area, in Clackamas, Multnomah, and Washington
Counties. These are among the five counties that comprise the Portland‐Vancouver Primary Metropolitan Statistical Area. The City's
economy is linked with that of the metropolitan area, which is based on manufacturing, national and international trade, and service
industries.
Primarily a residential community, Lake Oswego has a low
level of industry and retail‐based commercial activity.
Most newer commercial development is along Kruse Way,
a corridor on the west side near Interstate 5 — a prime
section of the beltway around the southwest Portland
Metro area.
The city's population increased steadily during the 1980s
and early 1990s (about 5% annually), and has increased to
an estimated 38,705. The State of Oregon, population is
increasing at about 1.2% annually. With new downtown
development Lake Oswego grew just under 2% from last
year. Future growth is estimated at about 0.6% per year.
The Bureau of Labor Statistics for the U.S. Department of Labor
tracks the Consumer Price Index (CPI‐U) for most U.S. cities. The
CPI‐U is a leading economic indicator that measures inflation,
which is central to assessing the cost of living and whether living
standards are rising or falling. The graph to the right shows the
annual percentage change in this measure and compares the
Portland area with the rest of the country.
In 2018, Portland's annual growth rate was greater than the rest
of the country; about 2.9% compared to the US average of 2.4%.
This graph compares the City of Lake Oswego's population to the City's number of full‐time equivalent (FTE) employees over
the past two decades. For the 2019‐21 biennium, the City budgeted 346.7 FTE. Expressed in per capita terms, the FTE count is
9.0 employees per thousand of population.
‐
1,000,000
2,000,000
3,000,000
4,000,000
5,000,000
10,000
20,000
30,000
40,000
50,000
1985 1990 1995 2000 2005 2010 2015
Population Trends
City of Lake Oswego (left scale)
State of Oregon (right scale)
‐1%
0%
1%
2%
3%
4%
5%
Percent Change in Average Annual CPI‐U Index
U.S. Average
Portland, OR
2000‐01 2001‐02 2002‐03 2003‐05 2005‐07 2007‐09 2009‐10 2010‐11 2011‐12 2012‐13 2013‐14 2014‐15 2015‐16 2016‐17 2017‐18 2018‐19 2019‐21
Pop 35,415 35,580 35,750 35,860 36,075 36,100 36,698 36,620 36,725 36,770 36,990 37,105 37,300 37,430 37,497 38,215 38,705
Emp 338.3 336.1 333 337 337 345 357.4 355.8 354.5 362.5 352.1 350.1 347.3 344.8 344.3 345.3 346.7
0
50
100
150
200
250
300
350
400
0
15,000
30,000
45,000
City Population vs. Number of City Employees (FTEs)
FINANCIAL TRENDS - RESOURCES
For the 2019‐21 biennium, total General Revenues
allocated to various General Fund departments
totaled $75.3 million. A summary of general
revenues can be found on page i‐22.
Property tax revenue is the major source of general
resources for the City. Those revenues along with
franchise fees and state shared revenues are
included in the allocation.
The above graph compares the City's total millage rate (based upon the largest tax code area) to other cities in the Portland
metro region. Measure 5, passed by voters in 1990, divided property tax levies into three categories and established limits for
each category. The categories and limits for each are: Education ($5.00 per $1,000 RMV), Government ($10.00 per $1,000 RMV),
and a third category that is exempt from the limitations (usually general obligation debt).
City Council
<1%
City Manager's
Office 1%
Library
4%
Municipal Court
1%
Adult Community
Center3%
Planning
7%
Police
34%
Fire
28%
Parks & Recreation
22%
Allocation of General Revenues
2019‐21
$0.00
$5.00
$10.00
$15.00
$20.00
$25.00
$30.00
Hillsboro Gresham Tigard Tualatin Oregon
City
Lake
Oswego
Wilsonville West Linn Sherwood Milwaukie Beaverton Portland
16.9367 17.0614 17.2019
17.2248 17.8341 18.0832 18.7288 18.7492 18.9037
19.7673 20.5656
25.3132
Comparison of Total Property Tax Rates in Portland Metro Area ‐Fiscal Year 2018‐19
Excluded from Measure 5 Limitations
Government
Education
FINANCIAL TRENDS - REQUIREMENTS
Requirements were balanced to 2019‐21 resources
at $391.9 million. As the pie chart to the left
shows, about 39% of the biennium's
requirements are budgeted in the General Fund.
The remaining budgeted requirements are
allocated between the remaining funds — with
small funds grouped in "Other".
The General Fund primary services
include Police, Fire, Pa rks & Recreation,
General Administration, Planning, and Library.
The above graph depicts operating budgets for the direct service programs within the City. For the purpose of this graph,
operating budget consists of personnel services, materials and services, and internal fees for service. Actual expenditures were
used for fiscal years 2008‐09 through 2016‐17, and the adopted budget was used for 2017‐18 and 2018‐19. The "Other"
category includes Trolley, Tourism, City Council, Public Affairs, Redevelopment, Nondepartmental, and Municipal Court.
* Original budgets for the fiscal years from 2011‐12 through 2013‐14 did not include fees for service to the General Fund if
the program was included in the General Fund. These amounts have been included for comparison purposes.
Beginning July 1, 2019 Golf is included with Parks & Recreation.
General
39%
Sewer
13%
Water
12%
Street
7%Stormwater
2%
Building
3%
Other
24%
Requirements by Fund
2019‐21
$0
$10
$20
$30
$40
$50
$60
$70
$80
2011‐12 2012‐13 2013‐14 2014‐15 2015‐16 2016‐17 2017‐18 2018‐19 2019‐20 2020‐21
55.6 53.8
56.6 55.7
63.1 61.8
68.4
71.8
74.3 75.9
Total Budgeted Operating Expenditures by City Service
Building
Stormwater
Other
Planning
Streets
Library
Sewer
Water
Parks & Rec
Fire
Police
In
Mi
l
l
i
o
n
s
FINANCIAL TRENDS - RESOURCES & REQUIREMENTS
For the 2019‐21 biennium, total resources are
$391.9 million ‐‐ 7% or $29.3 million represents
intergovernmental revenues, which includes
$8.4 million of State Shared Revenues and a
$6.3 million levy from the County Library District.
Property tax revenues, including delinquencies,
continue to be a major source of resources for
the City. For the biennium, the rates are held
constant for a total of $76.9 million.
Requirements were "balanced" to 2019‐21
resources at $391.9 million. As the pie chart to the
left shows, about $83.6 million of this biennium's
requirements are budgeted as contingency and
ending fund balances. The remaining budgeted
requirements are allocated between personnel
services, materials & services, and debt service,
transfers, and capital.
Personnel Services
27%
Materials &
Services
23%
Debt Service
9%
Transfers
3%Capital
17%
Contingency &
Ending Fund
Balances
21%
Requirements by Use
2019‐21
Beginning Fund
Balances
23%Property Taxes
20%
Franchise Fees
1%
Intergovernmental
Revenues
7%
Licenses & Fees
5%
Sales & Services
20%
Charges for
Services
8%Transfers
3%
Other Financing
Sources
11%
Other
2%
Resources by Source
2019‐21