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Lake Forest council adopts comprehensive fiscal plan for FY2025
Summary
The council approved a comprehensive fiscal plan for fiscal year 2025 by an 8-0 roll call, including projected citywide revenues of $116.8 million, expenses of $115.7 million, and a proposed $3.78 million transfer to capital funded by favorable variances.
Lake Forest's City Council on April 15 approved the city's comprehensive fiscal plan for fiscal year 2025, a multi-part document that combines the operating budget, five-year capital improvement plan and fiscal policy guidance.
Director Hohleb summarized the document as more than an annual budget, noting it includes revenue and expense projections, long-term forecasting and a five-year capital improvement plan. She said citywide FY25 revenues are projected at $116.8 million with…
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