View the Fiscal Year 2024 Budget in Brief
Comprehensive Fiscal Planning is more than just an annual budget! The City of Lake Forest's Fiscal Year 2024 Budget in Brief is now available. The Budget in Brief is an interactive and engaging way for residents and visitors to learn more about the City’s finances and budget priorities for the fiscal year (May 1, 2023 - April 30, 2024).
The City’s annual budget development is a seven month process that requires many hours of dedicated work by the City staff and City Council. The City’s comprehensive fiscal plan, approved by the City Council on April 17, is more than the annual budget. It includes the City Council Fiscal Policy, five year capital improvement program, long term financial forecasting and more. The Budget in Brief highlights some of the initiatives planned for the coming year. City wide, expenditures for FY24 are projected to total $121.5 million. A total of $32.9m in capital improvements are planned for the current fiscal year, including the $16m Deerpath Park Improvement Project which is featured in the FY24 Budget in Brief.
The City’s high level of services are maintained in FY24 without any significant fee increases. It is important to note that Lake Forest taxpayers continue to enjoy the lowest property tax rate in Lake County.