(Portland, OR) -- The new form of Portland City Council that started this year has approved its first budget. The eight-point-six-billion dollar budget passed unanimously. The budget covers a 65-million-dollar shortfall while approving Mayor Keith Wilson's 25-million-dollar plan to open 15-hundred new shelter beds by December. The cuts will cause a significant number of layoffs along with new fees and pay freezes. One time funds will also be used to help cover the gap.