Dr. Stanford “Randy” Tack Mayor | Lake Forest City
Dr. Stanford “Randy” Tack Mayor | Lake Forest City
The City of Lake Forest’s proposed Fiscal Year 2026 Comprehensive Fiscal Plan is now available for review. This plan, encompassing the annual budget, a 5-year Capital Improvement Plan, long-term financial forecasts, and other related information, will be considered for approval by the City Council on Monday, April 21, 2025.
The FY26 Budget projects revenues of $143.4 million and expenses totaling $144.5 million. This represents an increase of $24.6 million compared to FY25 projected expenditures, primarily attributed to the $25 million New Police Station Construction scheduled for FY26.
The budget continues the city’s tradition of maintaining sufficient reserves to accommodate unanticipated expenses or reductions in state-shared revenue due to the state’s financial crisis.
Lake Forest's fiscal year runs from May 1 to April 30. The City Council Finance Committee conducted budget workshops in November 2024 on the 5-Year Capital Improvement Program (CIP) and in March 2025 on the Proposed FY26 Budget.
Additional information on the FY26 Budget can be found at cityoflakeforest.com/Finance.
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