COUNCIL AFFIRMATION OF LEGISLATIVE LEADERSHIP IN LCG’S FISCAL PROGRESS

Lafayette, LA – The Lafayette City Council and the Lafayette Parish Council acknowledge the publication of the Lafayette Consolidated Government’s (LCG) Comprehensive Annual Financial Report (CAFR) for the fiscal year ending October 31, 2024. The Councils further recognize that collaborative efforts between LCG’s legislative and executive branches account for notable improvements in financial health, internal controls, and compliance measures for the government.

As the legislative branch of LCG, the Councils hold ultimate fiscal responsibility, including the approval of revenues and expenditures that shape the government's operations. The positive outcomes highlighted in the CAFR are a testament to the Councils' diligent oversight and commitment to fiscal accountability.

“The strides we've made in strengthening LCG’s financial position are the result of deliberate and sustained efforts by the Councils,” said Kenneth P. Boudreaux, Chair of the Lafayette City Council & City Council Finance Chair. “Our role in setting fiscal policy and ensuring responsible budgeting through checks and balances has been crucial in achieving these results.”

In contrast to the years preceding this turnaround, when budget development was often shaped by a more dominant approach, the current fiscal environment reflects a marked shift. The reestablishment of equilibrium and transparency in budgeting is the direct result of intentional, measured leadership by both Councils. This renewed balance has laid the groundwork for the long-term fiscal health now reflected in the CAFR and has reinforced the principle that the legislative branch plays a foundational role in defining how government should responsibly operate. Active engagement by Councilmembers through exit reviews with auditors and ongoing dialogue with the administration have been instrumental in identifying areas for improvement and implementing effective solutions.

“Our commitment to transparency and fiscal responsibility remains steadfast,” added Boudreaux. “We will continue to work diligently to ensure that LCG operates efficiently and effectively for the benefit of all residents of Lafayette.”

As previously released, a full copy of the CAFR and audit findings is available on the LCG website at www.lafayettela.gov within the Finance & Management Department webpages, with a direct link to the CAFR available here.

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