Politics & Government
Lake Forest to Explore New Revenue Sources
Lake Forest's current financial outlook is healthy, but without new revenue there could be future budget shortfalls, reported the Chicago Tribune.
The City of Lake Forest could be facing a $700,000 budget shortfall by 2018 unless it finds new sources of revenue to offset increases in areas such as employee pensions and insurance, reports the Chicago Tribune.
"It's not a question of it, it's a question of when," said Mayor Donald Schoenheider of the need to bring in more money, according to the story.
The city's finance department will be working with the city council on potential revenue sources, including the creation of a tiered water usage bill, reported the Tribune.
Read the full story at www.chicagotribune.com.
Lake Forest budget information can be viewed at www.cityoflakeforest.com.
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