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Treasurer: Lewiston's preliminary FY2025 close shows $1.7 million excess of expenses over revenues; key grant received in advance
Summary
City Treasurer Amy Gordon presented preliminary FY2025 numbers showing $29.6M in year-to-date revenue and $31.3M in expenses (an $1.7M gap); after excluding assigned reserves the unassigned fund balance reduction is about $1.3M, consistent with the adopted budget. Councilors asked about reserves and the use of a $3.7M advance grant.
Amy Gordon, Lewiston's city treasurer, presented the city's preliminary financial report for the fiscal year ending Sept. 30, 2025, and answered council questions about reserves, grant accounting and year-end entries.
Gordon said the general fund shows year-to-date revenue of roughly $29,600,000 and year-to-date expenses of about $31,300,000, meaning an excess of expenses over revenues near $1,700,000. "When we filter those items out, we're currently showing a $1,300,000 reduction in our unassigned fund balance," she said, noting the city budgeted to use about $1,330,000 of unassigned fund balance for FY2025.
Gordon told council that several year-end entries remain, including delinquent property-tax receivables and ambulance-billing revenue; those entries should improve the position as adjustments are recorded and the auditors complete the annual comprehensive financial report (ACFR) process in February. She also explained a $3.7 million federal grant for the State River Avenue project arrived in advance and may be reclassified as unearned revenue and recognized as the project is spent.
Councilors asked about reserve policy and why the city did not simply cash-fund upcoming infrastructure work; Gordon explained fund silos (water, wastewater, stormwater and capital transportation) limit use of funds across utilities and that the city deliberately uses bonds to spread the cost and avoid chasing inflation on multi-utility projects.
Next steps: staff will complete year-end adjustments, provide the audited ACFR in February, and continue to report grant reclassification and reserve status to the council.
