News Release

LCG Receives Prestigious Budget and Financial Reporting Awards
Posted: 8/2/2017 5:00 PM
 
 

2017-18 Proposed Operating & Five-Year Capital Improvement Budget Released

At the Council Budget Review Meeting on Tuesday, August 1, Chief Financial Officer, Lorrie Toups, announced the Government Finance Officers Association (GFOA) has once again recognized Lafayette Consolidated Government (LCG) with the Distinguished Budget Presentation Award. This is the fourth consecutive year in which LCG has received this distinction under Toups’ direction. According to GFOA’s guidelines, the award represents a significant achievement by the entity and reflects the commitment of the governing body and staff to meeting the highest principles of governmental budgeting.
 
LCG was one of only 16 governing entities in Louisiana to receive the award this year, satisfying nationally recognized guidelines for effective budget presentation. These guidelines require that a government’s budget documents be rated as "proficient" in serving as a policy document, a financial plan, an operations guide and as a communications device. Other award recipients include parishes, cities, school boards, and other governmental bodies from around the country and Canada.
 
LCG was also awarded the Certificate of Achievement for Excellence in Financial Reporting for the fiscal year ended 2015 by the GFOA. The Comprehensive Annual Financial Report (CAFR) Program encourages governments to go beyond the minimum requirements of generally accepted accounting principles and prepare transparent, comprehensive financial statements that provide users with the information they need to assess the entity’s financial health. This is the first year LCG has received the CAFR award, although LCG’s comprehensive financial statements for the fiscal year ended October 31, 2016 are currently under consideration for the award. LCG’s CAFR can be found at http://www.lafayettela.gov/finance/pages.accounting.aspx.
 
Upon notification of both honors, Lafayette Mayor-President Joel Robideaux praised Toups for her commitment, “It is our responsibility to run government efficiently and to build trust. I believe being awarded the Distinguished Budget Presentation Award for four years in a row and the CAFR award for the first year is evidence of our transparent and conscientious fiscal efforts. Residents should feel confident knowing we have such a dedicated CFO who guides us through these complex financial processes.”
 
Announcement of Distinguished Budget Presentation Award at the Council Budget Review Meeting on Tuesday, August 1.
Announcement of Distinguished Budget Presentation Award at the Council Budget Review Meeting on Tuesday, August 1.

Tuesday night’s meeting marked the beginning of the budget review process. Toups offered members of the Lafayette City-Parish Council and general public a high-level overview of the proposed budget for the 2017-2018 fiscal year. According to Robideaux, the administration put forth a conservative and relatively static budget, not anticipating any significant financial swings for the upcoming year. The budget presentation can be viewed online at http://www.lafayettela.gov/budget.
 
All budget review meetings are open to the public. A public hearing for citizen input on the budget is scheduled on August 22, 2017 at 5:30 p.m.  Final adoption of the budget is anticipated on September 7. For a detailed budget review schedule, visit http://www.lafayettela.gov/council.
 
View the 2017-18 Proposed Operating & Five-Year Capital Improvement Budget in its entirety at http://www.lafayettela.gov/budget.