afayette's Budget is produced annually and serves as the foundation for the City's financial near-term planning. The level of budgetary control is established at the Fund level.
City Council may approve supplemental appropriations to the Budget throughout the year as opportunities or challenges arise, and the City Administrator may reallocate budget line items between departments within the same Fund.
Annual Budget Process
Every June, Lafayette's annual budget process begins
In July, the department heads submit their initial funding requests, which align with City Council strategic priorities
In Sept. and Oct., the proposed Budget is presented to City Council and residents
In November, the annual budget is adopted by Ordinance
The process is led by the Budget Team: City and Deputy City Administrators, Finance Director, Accounting Manager, Senior Accountant, and Communications Director.
The Comprehensive Annual Financial Report is the City's annual financial report. This report is prepared in conformity with Generally Accepted Accounting Principles (GAAP) and is audited by an independent third party. State law requires that local governments issue audited financial statements by July 31 for the previous calendar year, with extensions available by request through Sept. 30.