LCG's annual audit and financial reports are now online.
The reports and audit are for the fiscal year that ended in October 2023, meaning they look at LCG business while former Mayor-President Josh Guillory was in office. Current Mayor-President Monique Boulet took office in January 2024.
The annual audit report, Annual Comprehensive Financial Report (ACFR) and Popular Annual Financial Report (PAFR), are all posted now.
"These comprehensive reports offer a detailed overview of the financial activities and performance of LCG throughout the fiscal year 2023. The Annual Comprehensive Financial Report provides a comprehensive analysis of the government's financial position, including audited financial statements, statistical data, and insightful commentary on financial trends," a release from LCG states.
"Additionally, the Popular Annual Financial Report presents a condensed, user-friendly summary of the government's financial activities, designed to make complex financial information more accessible and understandable to all members of the community."
LCG's top financial official said announcing and posting the reports is an effort at transparency.
"We value sharing the 2023 Annual Financial Reports with our community," said Chief Financial Officer Karen Fontenot. "These reports demonstrate our commitment to transparency and accountability in financial management."
According to the release, key highlights of the 2023 Annual Financial Reports include:
- Overview of governmental activities, including revenues, expenditures, and fund balances
- Analysis of major initiatives and projects undertaken by LCG
- Evaluation of financial performance metrics and indicators
- Comparative data from previous fiscal years to track progress and identify areas for improvement
The 2023 Annual Comprehensive Financial Report and Popular Annual Financial Report can be accessed on the LCG website here:
https://www.lafayettela.gov/docs/default-source/finance-management-documents/accounting/annual-comprehensive-financial-report-2023.pdf?sfvrsn=12c0aa44_1 [lafayettela.gov] and https://www.lafayettela.gov/docs/default-source/finance-management-documents/2023-popular-annual-financial-report.pdf?sfvrsn=3641220_1 [lafayettela.gov].
