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Lake Forest board hears year-end financial report showing $70.3 million in revenue, modest reserves
Summary
Finance staff reported fiscal-year-end revenues of about $70.3 million — roughly $7.8 million (12%) higher than the prior year — driven largely by state funding; discretionary spending rose, and district reserves ended the year at about 6%.
Finance staff presented the district’s June 2025 year-end financial report, telling the Lake Forest Board of Education the district received roughly $70.3 million in total revenue, up about $7.8 million (roughly 12%) from the previous year. The presenter said most of the increase came on the state side, with local funds up about $1.2 million and federal funds declining as a share of the mix.
The presenter explained discretionary revenues rose by about $1.1 million compared with the prior year and discretionary expenditures increased by about $1.3 million, with most of that added spending on salaries. The report singled out ongoing local spending for school resource officers and constables — noted as roughly $120,000–$130,000 per year beyond the prior safety grant — as one continuing local cost pressure.
On the expenditure side, encumbrances were reported near $63 million versus about $55 million the prior year, and the presenter said the district finished the year with reserves around 6% of budget (compared with 7% the prior year). The presenter also noted a small overspend in non-discretionary tuition lines that was largely offset by higher tuition revenue.
Board members asked no substantive questions during the presentation; the board later voted to approve the financial report as a formal resolution.
