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Lake Forest Park staff: first-quarter spending skewed by annual invoices; insurance drives variance
Summary
Finance staff told the budget committee the first quarter of the 2025–26 biennium appears over budget in places because large annual invoices (notably insurance) hit in January and some revenues lag until spring.
The City of Lake Forest Park’s budget committee heard an overview of the city’s first-quarter dashboard on April 17, with staff saying timing of large annual invoices — particularly insurance — and property tax receipts account for much of the early visual warnings.
Director Bond told the committee the biennial budget runs from Jan. 1, 2025, through Dec. 31, 2026, and that several departments look elevated in the first quarter because annual bills arrived in January. “It’s insurance. It’s insurance,” Director Bond said, summing the primary driver of many early yellow indicators on the dashboards.
Bond said departments often…
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