Lafayette'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.
The 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.
The Annual Comprehensive 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.