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Lake Forest adopts two-year operating budget and financial plan; council backs capital and reserve targets
Summary
The City Council adopted a two-year operating budget, master financial plan and capital improvement program on a 4-1 vote. Staff presented a risk-based reserve strategy and a multi-year forecast; one resident urged spending cuts and questioned certain line items.
The Lake Forest City Council voted 4-1 on June 3 to adopt the 2025-27 operating budget, master financial plan and related documents, authorizing spending for the first year only and updating the city's strategic business plan.
Director of Finance and City Treasurer Kevin Shireh presented the two-year budget and an updated reserve and risk analysis. He said the city uses a risk-based reserve approach rather than a fixed percentage; recommended target reserves are $80,000,000 with a minimum reserve level of…
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