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Lake Forest council approves comprehensive fiscal plan for fiscal 2026
Summary
The Lake Forest City Council unanimously approved a comprehensive fiscal plan for fiscal year 2026 that packages the operating and capital budgets, a five-year capital improvement program and updated pay plan; council also approved using an estimated FY25 surplus to seed the police facility capital project.
The Lake Forest City Council on April 21 approved the city's comprehensive fiscal plan for fiscal year 2026, voting 8-0 to adopt the operating and capital budgets, five-year capital improvement program and associated financial policies.
The plan projects citywide revenues of about $143 million and expenses of about $144 million for fiscal 2026; the gap reflects a one-time transfer from an estimated fiscal 2025 surplus into the capital improvement fund to help finance the planned police facility. Diane Hall, interim finance director, told the council the city is projecting a $3,190,000 surplus in the general fund for…
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