Lake Forest Maintains AAA Ranking For Financial Security

LAKE FOREST, IL — Lake Forest was recognized for its exceptional financial management and long-term planning, according to a credit rating service.

Moody’s Investors Service affirmed the City of Lake Forest's AAA bond rating, which is the highest possible rating. This status allows the city to borrow money at lower interest rates, which translates into saving money for taxpayers over time.

“Lake Forest is well positioned for long-term financial sustainability due to decisions made by past and present City Councils,” said Lake Forest Mayor Randy Tack. “By prioritizing pension funding and responsible fiscal management, we are saving future taxpayers tens of millions of dollars.”

One of the key reasons cited for the City's strong rating isLake Forests progress in reducing long-term pension obligations. Between 2022 and 2025, the city reduced its net pension liability by nearly $55 million.

The Moody's report also pointed out that the city has strong financial reserves and cash on hand. This means that even though the city has invested in major projects, such as the new police headquarters and future fire station renovation, Lake Forest is expected to maintain its reserves.

“This rating affirms that Lake Forest is managing today’s needs without compromising tomorrow,” said Finance Committee Chair Alderman Eileen Looby Weber. “Sound financial policies and consistent oversight continue to deliver measurable results for the community.”