Budget Workshop March 11, 2019 Presentation Fiscal Year 2020
Annual Budget Fiscal Year 2019
Personnel Policies and Practices Fiscal Year 2019
City Employee Pay Plan Fiscal Year 2019
Budgeted Compensation Fiscal Year 2019
Proposed Compensation Package – City Manager Candidate/Wicha
The City prepares an annual budget, which is actually a schedule of the City's income from taxes and other sources and a schedule of what the City plans to spend during the year. The City balances these two schedules, much like a household balances its checkbook.
The budget process begins in September of each year when each City department reviews its fees for the services it provides. The fee requests from each department are reviewed by the Finance Committee of the City Council in November, and the operating and capital budget process begins in November.
Each department is given a target budget amount based upon forecasted revenues. Departments then prepare estimated actuals for the current budget year and the next budget year proposals. Three months later, or in March, the Finance Committee meets to review the proposed budget. In April, the City Council receives the final revisions to the budget. The first meeting in May is when the budget is formally adopted by the City Council.
For the FY2019 fiscal year, the General Fund's budget for expenditures is $34,570,568. The Expenditure Budget for all funds, excluding the Library, totals $84,160,533.
The budget book is divided into sections: the Budget Message, Revenue/Expenditure Summaries, and Operating Budgets by division. Current and previous fiscal years' budget books can be viewed from our Documents Page, at the Lake Forest Library, City Hall, or the Municipal Services Building Monday thru Friday between the hours of 8:00 a.m. and 4:30 p.m. The public is encouraged to attend meetings of the Finance Committee to learn about the City finances and provide feedback.
Capital Improvements Budget
The City's Fiscal Year 2019 Capital Improvements Budget totals $9,617,018.
Notable Fiscal Year 2019 Projects can be viewed through this link.