After two years of fiscal issues cited in audits, LCG has no major new findings in this year's audit.
That doesn't mean there are no findings; all but two of the findings listed in the audit started in previous years. And, that total number - 11 - is down from 18 last year, and more than two dozen in the year prior to that.
To see our story about the 2024 audit, which looked at practices during the last year of the Guillory administration, click here. To look at the story about 2023 audit, click here.
Mayor-President Monique Boulet published the Annual Comprehensive Financial Report, which includes auditor's findings, last week with a release stating that it "reflects significant progress in financial health, internal controls, and long-standing compliance issues."
You can read the audit for yourself by scrolling down.
"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," the release states.
Boulet said her administration is working to clean up long-standing issues.
“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.”
Some of the major, lingering findings can't be cleaned up quickly; for instance as in previous years, a major finding was related to the way the Guillory administration's detention ponds were handled.Several agencies currently are investigating various aspects of those projects, including the state Legislative Auditor, the FBI, the EPA and the U.S. Army Corps of Engineers.
This year's audit cites a $26 million overdraft related to the ponds that originally occurred in 2023, adding that LCG, led by the Guillory Administration at the time, "may not have complied with their Home Rule Charter, policies and procedures, and/or enabling legislation by improperly utilizing the dedicated resources of other funds participating in their pooled cash account."
Boulet's administration responded that they're actively working to figure out how the projects could be funded properly, adding that "during the fiscal year we engaged an engineering firm to analyze these projects for functionality and benefits to the City and Parish of Lafayette. The firm is still working on the evaluation and has not released an official opinion on the projects. A determination of compliance with dedications will be made once final opinions and analysis are received."
Here's what Boulet's release highlighted:
- 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 and audit findings is available on the Lafayette Consolidated Government website here.
You can also read it here:
The chair of the City Council also issued a release on the audit.
“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.”
