Lewiston's water fund paid down $8.4 million on its federal loan in fiscal 2025

Lewiston's water fund recorded $8,390,900 in principal reductions on a U.S. Department of Agriculture note payable during the year ended June 30, 2025, according to the city's audited financial statements. ^[1]

The note's balance fell from $16,526,001 to $8,135,101, with $142,074 due within a year. ^[1]

The loan

The debt note describes the obligation as an "$8,263,000 USDA Rural Development loan payable in monthly payments of $24,542, at 1.89%, through August 2064." ^[1]

The water fund's statement of net position lists $7,993,027 in noncurrent liabilities due in more than one year, plus $142,074 due within a year. ^[3]

Where the cash went

The water fund's cash flow statement lists $8,390,900 in principal payments on bonds and long-term debt and $281,615 in interest payments. The fund also spent $455,637 on capital assets. ^[2]

The fund's cash and cash equivalents went from $11,663,051 at the beginning of the year to $2,898,403 at the end. ^[2]

Management's discussion in the report describes the city's total debt of $8,526,032 as "a note payable for sewer revenue bond and a note payable for sales tax revenue bond." The debt note lists the USDA loan, a 2018 sewer revenue bond and 2020 sales tax revenue bonds. ^[5][1]

The budget worksheet

A budget worksheet the city filed with the State Auditor, printed Aug. 18, 2026, lists the balance sheet account "BOND- USDA WATER CONST" at $11,716,617.15 in its 2024-25 actual column and $11,425,101.50 in its 2025-26 actual column. ^[4]

The audited June 30, 2025, balance for the USDA note is $8,135,101. ^[1]