Lewiston treasurer outlines $22 million in restricted funds, bond reserves and fund location in June report

City Treasurer Amy Gordon presented the City of Lewiston’s June 2025 treasurer’s report to the council on July 28, emphasizing the amount of restricted funds, bond reserve accounts and the location of city deposits.

Gordon directed council attention to the treasurer’s summary showing more than $22 million in restricted funds held across institutions. She explained restricted categories including fiduciary funds (the police retirement fund and the perpetual care cemetery fund), bond‑related reserves for water and wastewater accounts, traffic impact and developer deposits held in trust, and fee accounts such as equity buy‑in fees. Gordon said the police retirement fund is a single‑employer defined‑benefit pension plan for officers employed before a 1990s change and remains active as long as beneficiaries exist.

Gordon described how utility bond covenants require establishing reserves and a debt‑service account that is funded monthly from pledged revenues so the semiannual bond payment is covered. She also explained that the state treasurer’s pooled investment account and local certificates of deposit are used to diversify investments and that certain diversified bond funds are less liquid and should not be used for immediate needs. Gordon noted specific restricted amounts in the general fund, including approximately $1.3 million in restricted general fund items and a $5 million assigned building fund balance, leaving roughly $7 million of the general fund as unrestricted cash on hand at that snapshot.

Councilor Wright asked whether line items showing high or low percentages of budget used were cause for concern; Gordon said timing and the front‑loaded nature of annual software or insurance payments often explain year‑to‑date variances and that staff review monthly reports for anomalies. She also confirmed the transit budget appeared over budget because a project carried forward and would be addressed in a formal amendment.

Gordon said the city intentionally places funds in a mix of local banks and the state treasurer’s pool to diversify risk; she explained the pool is professionally managed and liquid. She also noted statutory restrictions that limit how much may be placed with credit unions.

Ending: Gordon concluded the treasurer’s overview and offered to follow up on any line‑item questions. Council did not take action on the report; it was received as an informational presentation required by Idaho Code.