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Westfir Budget Committee adds $50,000 loan to General Fund to close budget gap
Summary
The City of Westfir Budget Committee approved adding a $50,000 bank loan to the 2026–27 General Fund and increased interfund transfers to shore up the Water and Sewer funds while awaiting Lane County action on Secure Rural Schools funds.
The City of Westfir Budget Committee on May 19 added a $50,000 bank loan to the proposed 2026–27 General Fund to address a projected deficit. City Recorder and Budget Officer Nicole Tritten outlined the change and the related interfund transfers meant to cover shortfalls in enterprise funds.
"A bank loan of $50,000 was added to resources and debt service in the absence of another solution to the budget deficit," Nicole Tritten said, and she explained the loan structure to the committee. She told members the loan carried a ten-year term at 6.5% interest, with the interest rate scheduled to reset after five years to the prevailing market rate.
The committee also discussed a pending possibility that Lane County could exchange Westfir's Secure Rural Schools funds with County General Fund dollars; Nicole said the city was still waiting for a decision from the county. The budget adjustments included increased Interfund Transfers: $9,400 additional to the Sewer Fund and $6,300 to the Water Fund to address cash shortfalls.
Committee members asked staff about repayment terms and potential impacts to future budgets; no formal vote on the loan itself was recorded beyond the meeting's budget revisions. The committee recessed and scheduled follow-up work for the next meeting on June 4, 2026.
