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Lake Forest Park budget committee reviews September dashboard, flags traffic-safety revenue and capital reporting issues
Summary
City staff presented the September budget dashboard on Oct. 16, noting several funds near expected targets, a low showing for traffic-safety camera revenue and confusion in the capital report between biennial and total project amounts. Staff said the items will be monitored and addressed in a mid-biennial budget amendment.
Lake Forest Park Budget and Finance Committee members reviewed the city’s September budget dashboard at their Oct. 16 meeting, where staff described fund-by-fund revenue and expenditure levels and flagged areas for continued monitoring ahead of a mid-biennial budget amendment.
The presenter told the committee, “So we're gonna, go over the dashboard for September. Just remember that this is a 2 year 2 year budget that we're looking at,” and explained the report uses a 37.5% target to flag departments for watch. The dashboard showed the general fund revenue at about 36% of the biennial budget and the capital improvement fund — funded primarily by real estate excise tax (REET) 1 — at about 34%.
Why it matters: the dashboard directs staff and council attention to funds that need adjustment before the next formal budget action. The committee was told that some deviations result from timing (annual invoices,…
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