BOULET ADMINISTRATION DELIVERS STRONGER CONTROLS, FEWER AUDIT FINDINGS

Lafayette, LA – Lafayette Consolidated Government (LCG) announces the publication of its annual financial report, including the results of the Fiscal Year 2024 independent audit, which reflects significant progress in financial health, internal controls, and long-standing compliance issues.

The FY2024 audit marked a major step forward for the Boulet Administration, reducing the total number of audit findings from 18 in the prior year to just 11. The results include no new findings related to purchasing or revenue compliance and the full correction of three long-standing findings, with others well on their way to resolution.

“This audit confirms the direction we are moving in—toward strong fiscal responsibility and accountability,” said Lafayette Mayor-President Monique B. Boulet. “We’ve restored critical oversight processes and have made meaningful headway in correcting issues that have lingered for years. It’s a big win for good government and the people of Lafayette Parish.”

Among the key highlights in the report:

• Strong Fund Balances: The City General Fund increased by $6.6 million and now maintains a fund balance equivalent to 225 days of operations—up from 200 days the previous year. The Parish General Fund rose by $5.4 million, now supporting 241 days of operations, a significant jump from 162 days in FY2023.
  

• Reduced Audit Findings: FY2022 reported 29 audit findings. In comparison, FY2023 had 18 and FY2024 just 11 (3 of which have already been addressed in 2025), reflecting continuous improvement in internal controls and financial management practices.
  

• Minor New Findings Only: The only two new findings pertained to federal program compliance—one involving travel documentation for an ARPA-related contract, and another concerning vendor verification under the GUMBO grant program. Both issues were categorized as minor and are being promptly addressed with minor procedural adjustments.

The audit also reaffirmed the strength of LCG’s financial controls, with no new significant deficiencies identified.

“This is about more than numbers,” Mayor-President Boulet added. “It’s about restoring legal credibility, building lasting financial stability, and ensuring public confidence through transparency and action. We’re delivering on our promises.”

The administration emphasized the improvements in audit results align directly with LCG’s top priorities: restoring legal credibility, improving operational efficiency—particularly in public safety—ensuring transparent public reporting, and investing wisely in transformative infrastructure projects. No material challenges surfaced in the audit that would impact next year’s budget planning, and no new accounting standards affected this year’s results.

A full copy of the Comprehensive Annual Financial Report (CAFR) and audit findings is available on the Lafayette Consolidated Government website at www.lafayettela.gov within the Finance & Management Department. You can also click here for direct link.

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