News Release

​​​​Robideaux Addresses 'Bankruptcy' Concerns
Posted: 5/19/2017 6:00 PM
In response to the comment made by the auditor during the May 16 public presentation of the Annual Audit of LCG, Lafayette Mayor-President Joel Robideaux reassures that Lafayette Parish is not facing bankruptcy and is not in jeopardy of defaulting on any lines of credit or loans.
“The parish’s fiscal outlook is grim, and it has been for some time,” stated Robideaux. For years, the parish budget has seen revenues steadily decline. The recent audit presentation projects the parish general fund will only have 22 days of reserve capital beyond October 31. It is generally a best practice for local governments to have 60 or 90 days of reserve funds.
“It is important to build trust between government and the people we represent,” Robideaux continued. “When things are bad we need to present that in a factual and truthful way. It is not necessary or appropriate to overstate the situation to stress the dire fiscal circumstances the parish is facing.”
Robideaux went on to say that while there is a real possibility that services within the parish will be cut, creditors should not be concerned.