October 15, 2026 Budget & Finance Committee

The October 15, 2026 City of Lake Forest Park Budget & Finance Committee reviewed financial results through September and discussed revenue and expenditure projections for the 2026–27 budget. Staff reported that general fund revenue was temporarily behind due to seasonal receipts and court-fine reporting, while projected underspending in the general, sewer utility, and surface water utility funds could result in higher year-end fund balances. The committee discussed modeling utility tax increases and school-zone fine revenue; no revenue changes were approved. A proposed $14,000 reduction from discontinuing the K9 unit was noted, and members discussed possible fee reviews and staffing requests, including a public-records position and facilities-maintenance position, without making funding decisions.

The committee reviewed draft financial-policy updates, including how to define the traffic safety fund and the strategic opportunity fund, which could support real-property acquisition, capital-project matching, and other council-designated initiatives. Members requested revisions and further research on reserve calculations; the related ordinance and policy changes were not approved at this meeting. A strategic-plan update was discussed, with a consultant estimate of about $50,000 and possible grant or other funding sources to investigate. Staff also noted that the amount payable to a vendor for traffic-safety items remained unsettled. No contract awards, vendor selections, or procurement approvals were identified.