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City manager warns of general‑fund shortfall; committee hears plan to borrow from wastewater fund
Summary
City Manager Rick Oldwell told the Jervis Budget Committee that unaudited finance reports show the general fund is in the red and staff will likely propose an interfund loan (from wastewater SDCs) to avoid a year‑end deficit; full audit reconciliation is pending.
Rick Oldwell, the city manager and recorder, told the Jervis Budget Committee that unaudited finance reports show the city’s general fund is below the level expected when the 25/26 budget was adopted. "We were in the red in the general fund," Oldwell said while walking members through the packet’s columns, and he advised the committee that staff are still reconciling figures with the CPA.
Oldwell said staff’s interim plan would be to borrow from another city fund to prevent a statutory year‑end deficit. "I am planning to take money from one fund and loan it to another fund so the general fund does not end up in the red at the end of the budget year," he said, and added that any such transfer would require a council resolution and a written payback plan. He identified the likely source as the wastewater system development charge (SDC) fund and said the transfer would be brought to council in January or February.
Committee members pressed staff on when final numbers would be available. Oldwell said unaudited figures come from finance reports and that the CPA’s reconciliation of the 23/24 audit is ongoing; he expects the audit to be printed and distributed before the end of the calendar year. The committee did not approve a supplemental budget at the meeting; Oldwell recommended bringing any formal supplemental or transfer request to the council with a committee recommendation.
