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Council adopts midyear budget adjustments; multiple consent items pass unanimously
Summary
The Lake Forest City Council adopted midyear budget amendments that incorporate updated revenue estimates and other-fund appropriations, including the previously approved $4.35 million affordable housing loan; the actions passed by unanimous vote.
The Lake Forest City Council received the fiscal year 2024–25 midyear budget review and adopted a resolution to amend the budget to reflect updated revenue and appropriation estimates.
Kevin Shireh, the city—s director of finance, presented the midyear report. He recommended modest changes: general fund revenue increases of about $236,000, other-fund revenue decreases totaling about $1.6 million and cost estimate increases in other funds of about $4.3 million. Shireh told the council these adjustments reflect actuals through February and projections to June.
Key changes highlighted by finance staff included a proposed $1.2 million reduction to sales and use tax estimates, a $435,000 decrease in building and safety revenue tied to slower…
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