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City treasurer: Lewiston preliminary FY2025 shows expenses exceeding revenues; reserves used as budgeted
Summary
City Treasurer Amy Gordon presented preliminary FY2025 financial statements showing $29.6 million in year-to-date revenue, $31.3 million in year-to-date expenses, a planned draw on reserves and an advance federal grant received for Snake River Avenue.
Amy Gordon, Lewiston city treasurer, presented the city's preliminary financial report for the year ended Sept. 30, 2025, and outlined why the statements are labeled "preliminary" during the year-end audit process.
Gordon said the general fund showed year-to-date revenue of approximately $29.6 million and year-to-date expenses of $31.3 million, producing an excess of expenses over revenue of roughly $1.7 million. After filtering out assigned reserves that are appropriated in the budget (building fund, narcotics reserve, opioid settlement receipts, unemployment reserve), she said the unassigned fund balance reflects about a $1.3 million reduction — consistent with the $1.33 million in reserves the council budgeted to use for FY2025.
"We're right on target to how we built our budget," Gordon said, explaining that the preliminary statements will be adjusted as year-end entries, receivables and audit adjustments are processed. She noted there are outstanding revenue items such as delinquent property taxes and ambulance billing that will be captured in subsequent entries and could improve the year-end picture.
Gordon described workers' compensation activity: the city amended the budget to recognize stop-loss reimbursements when a high claimant exceeded a threshold. She said the workers' comp fund appears to be recovering and the city plans to contribute roughly $260,000 back into the workers' comp reserve.
On enterprise funds, Gordon said those funds account for capitalizing assets differently than governmental funds and that capital projects with committed purchase orders will be treated as committed resources at year-end. She called attention to a federal grant line item of about $4.2 million and explained the city received about $3.7 million in advance for the Snake River Avenue project; auditors may reclassify that amount as unearned revenue until expenditures are incurred.
Councilors asked questions about cash balances and why the city does not "pay cash" for an upcoming bond. Gordon explained capital funds are siloed by utility type (water, wastewater, stormwater, transportation) and those funds must pay their own projects rather than using general property-tax revenue. She also said the city targets roughly 90 days of operating cash in reserves for the general fund to bridge the gap between October and January when property-tax and state-shared revenues are received.
Council thanked Gordon for the report; she said the auditors will deliver the annual comprehensive financial report and a detailed presentation in February.
