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Lake Forest council accepts first Popular Annual Financial Report; resident raises concerns about revenue drop
Summary
At its Feb. 18, 2025, Lake Forest City Council meeting, the council accepted the city’s Popular Annual Financial Report for the fiscal year ended June 30, 2024, following a presentation by finance analyst Fonas Rego.
At its Feb. 18, 2025, Lake Forest City Council meeting, the council accepted the city’s Popular Annual Financial Report for the fiscal year ended June 30, 2024, following a presentation by finance analyst Fonas Rego.
Rego told the council the PAFR is a user-friendly summary of the city’s audited Annual Comprehensive Financial Report (ACFR) and follows Government Accounting Standards Board guidance and generally accepted accounting principles. She said the city’s ACFR has received recognition for 29 consecutive years from the Government Finance Officers Association and that the PAFR is intended to make financial data more…
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