The Lake Forest Board of Education reviewed its June 2025 month-end financial report during its August online meeting, hearing that the district received about $70.3 million in total revenues compared with about $62.5 million the previous year — an increase of roughly $7.8 million, or about 12%.

Finance staff told the board the bulk of the year-over-year increase came from state funding tied to higher unit counts — roughly $6.7 million — with about $1.2 million coming from local sources and federal revenues down by about $160,000. “We received 70,300,000.0, and that's compared to about 62,500,000.0 last year,” the finance presenter said while reviewing the revenue summary.

Discretionary funds grew by about $1.1 million over the prior year, with approximately $400,000 of that from state discretionary increases and a little over $650,000 from local discretionary sources. The district collected roughly 102% of its discretionary budget, comparable to the prior year.

On the expenditure side, encumbrances and spending were about $63 million versus about $55 million the prior year — an increase of about $7.7 million (roughly 14%). The presenter said the district anticipated increased local discretionary spending, driven largely by salary costs (about $800,000 in additional local salary expense), expanded school-level spending and curriculum investments, and ongoing local costs for school resource officers and constables now that prior safety grant funds have been exhausted (estimated at about $120,000–$130,000 annually from local funds).

The finance staff reported a net overspend on tuition and payments to special schools (about $158,000) that was partially offset by higher tuition revenue. The district concluded the year with about 6% of funds budget remaining compared with about 7% the prior year and roughly 3% of discretionary funds unspent — similar to the previous year. The presenter said the preliminary FY2026 budget and a fuller financial position report will be presented at the next board meeting.

The board did not ask for additional motions tied to the financial presentation; trustees later approved a resolution to accept the financial report as presented by a 3-0 vote.