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Posted on: November 3, 2020

City Council adopts the 2021 Budget

2021 annual budget graphic

While the unprecedented local and national events of 2020 have caused many challenges and operational constraints throughout the year, Lafayette’s cautious spending, diversity of revenue, and blend of businesses within the City have provided a level of financial stability during these uncertain times.

Residents are encouraged to browse the 2021 Budget in Brief brochureThis tool has been created to provide a simplified view of the City budget for community members and communicate the responsible spending of City funds. 

The City’s 2021 Budget provides the ability to adjust should economic conditions become more favorable but also if conditions contract. The upcoming year’s spending is focused on long-term strategic plans, City Council goals, and responsibly aligns revenue sources with costs.

2021 Budget Details
The 2021 Recommended Budget is $79.8 million and represents a 31.3% decrease from the 2020 Budget. The primary factor in this budget decrease comes from an anticipated 2020 debt issuance in water reclamation for $23.8 million and several large capital projects planned in 2020. When considering these 2020 one-off budget items, the 2021 Recommended Budget is an 5.4% decrease from the adjusted 2020 Budget. The General Fund Budget, the City’s largest fund, remains flat from 2020.

For a more in-depth review of the 2021 budget, City Council presentations, videos, and supporting documents utilized throughout the 2021 budget process are available at Lafayette-Listens.com/2021BudgetProcess.

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