Lake Forest council approves FY2027 comprehensive fiscal plan, directs surplus to capital projects

The Lake Forest City Council on Jan. 20 approved its comprehensive fiscal plan for fiscal year 2027, a budget the city described as integrating operating and capital priorities, five‑year forecasts and the strategic plan.

The measure passed by roll‑call vote, 8–0. Finance Committee Chair Herman Weber introduced the plan and Director Skibbe summarized changes and year‑end projections. Skibbe said staff expects FY2026 revenues to finish about $4.2 million over budget and expenditures roughly $800,000 under budget, and recommended transferring the surplus to the capital improvement fund.

Under the adopted plan, citywide revenue for FY2027 is $125,600,000 and expenses total $130,600,000; the nearly $5 million gap will be covered in part by reserves. The general fund revenue is projected at $45.4 million. The five‑year capital improvement program totals $78.3 million, with roads and bridges the largest category at roughly $26 million; FY2027 capital spending is set at $29.4 million.

Skibbe told council that $2.64 million of the FY2026 surplus would be allocated to the police station project and an additional $3.36 million transfer would fulfill a previously committed $6 million contribution to that project. Staff said the remaining $2.36 million of the FY2026 surplus will be set aside for future capital projects to be identified by the council.

The council approved the plan after the March‑to‑January budget review process and a presentation at the January meeting. Mayor Tack and committee chairs emphasized the plan’s integration with long‑term forecasting and capital priorities.

The council adjourned after completing the meeting agenda.