BOULET ADMINISTRATION ACHIEVES HISTORIC REDUCTION IN AUDIT FINDINGS

BOULET ADMINISTRATION ACHIEVES HISTORIC REDUCTION IN AUDIT FINDINGS

Lafayette’s Fiscal Momentum: Audit Findings Drop for Third Consecutive Year

LAFAYETTE, LA – Lafayette Consolidated Government (LCG) announces the publication of the Fiscal Year 2025 Annual Comprehensive Financial Report (ACFR), detailing a year of significant financial strengthening and administrative discipline.

The Louisiana Legislative Auditor’s annual independent audit reflects a sharp decline in total audit findings, which have dropped to just 5 – a significant decrease from the 11 reported last year and the 29 reported in FY2022.

“This report is a testament to precision and transparency,” said Lafayette Mayor-President Monique B. Boulet. “Reducing findings from 29 to just 5 in three years proves that our focus on internal controls and legal credibility is working. We are no longer just correcting the past; we are securing Lafayette’s financial future.”

Key Highlights from the FY2025 Audit:

·       Significant Trend in Accountability: Total audit findings decreased from 11 to 5, continuing a three-year downward trend in compliance issues.

·       Substantial Debt Reduction: LCG successfully reduced its total debt by $93.1 million, including $61 million of bonded debt, while maintaining strong Aa2/AA credit ratings.

·       Economic Vitality: Sales tax collections reached $122.9 million, a 7.1% increase that reflects a robust and expanding local economy.

·       Infrastructure Investment: The audit confirms over $1.8 billion in net capital assets, including major completions like the Louisiana Avenue Extension and upgrades to the Gloria Switch Water Treatment Plant.

“This is about more than numbers,” Mayor-President Boulet added. “It’s about ensuring public confidence through action. By cutting audit findings by more than half in a single year and strengthening our cash position, we’re delivering on our promise of a more professional, accountable government.”

A full copy of the ACFR 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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