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Treasurer explains why Lewiston keeps utility reserves and what each enterprise fund is for
Summary
City Treasurer Amy Gordon told council the city follows GFOA practices (roughly 90 days cash on hand) and explained why water, wastewater, sanitation and stormwater have different reserve strategies tied to capital plans and contracts.
City Treasurer Amy Gordon presented the city’s reserve approach to the council on May 4, saying Lewiston generally follows Government Finance Officers Association guidance and uses roughly 90 days cash on hand as a working practice.
Gordon explained why enterprise funds differ: water is drawing down reserves to cover a funding gap; wastewater is in a…
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