Proposed Fiscal Year 2025 Budget
The City of Lake Forest’s proposed FY25 Budget is now available to view on the City’s website. The FY25 Comprehensive Fiscal Plan, which includes the annual budget, 5-Year Capital Improvement Program (CIP), long-term financial forecasts and other related information, will be considered for approval by the City Council on Monday, April 15, 2024.
The FY25 Budget projects $116.8 million in revenue and $115.7 million in expenses.
The FY25 Budget continues the City’s tradition of maintaining sufficient reserves to allow for unanticipated expenses or reductions in State-shared revenue due to the State’s financial crisis.
The City’s fiscal year runs May 1 to April 30. The City Council Finance Committee conducted budget workshops in November 2023 on the 5-Year Capital Improvement Program (CIP) and in March 2024 on the Proposed FY25 Budget. Additional information on the FY25 Budget can be found at cityoflakeforest.com/Finance.