Adopted Budget Fiscal Year 2026-2027

Budget Message and Statement of Changes in Activities and Sources of Financing

Fiscal Year 2026-2027 Town of Lakeview – (PDF – Click To See All Pages Of Budget)

This budget has been prepared in accordance with Oregon Local Budget Law and serves as the Town’s financial plan for the fiscal year beginning July 1, 2026, and ending June 30, 2027. The budget supports the continued delivery of municipal services, the maintenance and improvement of public infrastructure, and the priorities established by the Town Council, while maintaining responsible stewardship of public resources and compliance with applicable legal requirements.

Changes in Activities

During the current fiscal year, the Town has experienced significant organizational transition, including the election of a new Town Council and the addition of new administrative staff. As part of this transition, the Town undertook a review of its financial records, accounting practices, budget process, and daily operations.

This review identified opportunities to improve the accuracy of financial reporting, strengthen budget transparency, and support long-term financial planning. Efforts have focused on reconciling historical records, addressing identified issues, improving internal controls, and developing more reliable financial forecasts.

The proposed budget reflects the following key changes in activities:

• Continued implementation of improved financial management and budget monitoring procedures.
• Ongoing review and correction of historical accounting and budget reporting issues.
• Updated methods for forecasting revenues and expenditures.
• Improved tracking and management of capital projects and infrastructure investments.
• Strengthened reserve management and long-term financial planning practices.
• Enhanced documentation, reporting, and accountability to support transparency and public confidence.

While the review of historical financial information is ongoing, this proposed budget is based on the best information available at the time of preparation. It represents a significant step forward in the Town’s efforts to strengthen financial planning, monitoring, and reporting.

The Town funds its operations through multiple revenue sources, including property taxes, state-shared revenues, utility and service charges, franchise fees, licenses and permits, grants, beginning fund balances, and other miscellaneous revenues.

The proposed budget incorporates updated revenue projections based on:

• Current assessed valuation and property tax collection trends.
• Updated estimates of state-shared revenues.
• Actual operating results from the current fiscal year.
• Known grant awards and potential funding opportunities.
• Updated utility and service revenue projections.
• Improved estimating practices developed through the financial review process.

Budgeted beginning fund balances have been updated to reflect reconciled financial records and improved estimates of available resources. As a result, comparisons between prior-year budgets and the current proposed budget may reflect changes in reporting and forecasting methods, as well as changes in services or activities.

Budget Priorities

The Town Council’s priorities for the fiscal year include:

1. Maintaining essential municipal services.
2. Improving financial accountability and transparency.
3. Protecting and improving public infrastructure.
4. Maintaining appropriate operating and emergency reserves.
5. Pursuing grants and other outside funding opportunities.
6. Supporting long-term financial stability.

Financial Outlook

The Town recognizes that continued review and improvement of financial records and procedures may result in future adjustments to financial projections. Nevertheless, this proposed budget provides a sound financial framework based on the information currently available and reflects the Town’s commitment to responsible use of public resources.

The proposed budget is balanced as required by Oregon Local Budget Law. It provides a practical and responsible plan for funding Town operations during the coming fiscal year while supporting the long-term financial health of the Town and the community.