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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 planned spend‑down to cash‑fund plant improvements; sanitation holds reserves to ensure continuity of long‑term contracts; and stormwater is accumulating reserves to pay for upcoming capital projects. “We follow 90 days,” Gordon said, and added that enterprise funds’ reserve needs depend on each utility’s capital improvement plan.
Councilors asked for more detail on placement of funds across banks and why some utility balances appear large on paper; Gordon explained the treasurer’s report separates restricted funds (equity buy‑in fees, restricted balances) from operating and capital funds and that restricted funds cannot legally be used for other purposes. The treasurer and public works director committed a fuller enterprise capital presentation as part of the upcoming budget process and said they will post the current materials to the council agenda online.
What happens next: staff will provide a detailed enterprise capital and reserves briefing in next week’s budget packet and will add the materials to the public agenda so residents can review.
