Budget

2016 Budget & Highlights



The Board adopted the 2016 budget on November 10, 2015. The recommended budget will be replaced with the approved budget, which was reduced during Joint Committee hearings, soon.
10 Budget Takeaways
  1. Lake County has a balanced budget at $495,199,632.
  2. The budget is $7 million less than last year.
  3. The number of employees is down 24 from last year.
  4. Only 3.7% of the budget goes to debt service.
  5. The County Board plans ahead and uses cash for big capital projects, which saves taxpayers millions of dollars in interest payments.
  6. The County maintains strong reserves for emergencies and to protect us from unexpected economic changes.
  7. The County gets revenue from many sources including: sales tax, income tax, and property tax (with the last one making up a small portion of our budget - only 1/3).
  8. Through shared service agreements, like building inspections and sheriff's patrol services, Lake County is saving money.
  9. We are using data-driven decision-making to ensure we are spending wisely, and identifying and implementing efficiency​ measures.
  10. Lake County has a AAA bond rating - the highest rating possible, and we consistently receive the "Distinguished Budget Presentation Award" from the Government Finance Officers Association.
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Budget Priorities
Our fiscal priorities align with the values, goals and strategies outlined in our strategic plan. The strategic plan informs and guides decisions during the budget process and throughout the year. The County also tracks and analyzes performance metrics and uses the data to drive decision-making.
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Budget Process
The budget is a road map to how the County sets its spending priorities. There are key players for each step in the budget process.
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Where the Money Comes From & Goes
Lake County's revenues come from a variety of sources and are used to fund a multitude of programs and services across 30+ departments.