HomeMy WebLinkAboutLafayette Consolidated Government - Public Financial ReportP O P U L A R A N N U A L F I N A N C I A L R E P O R TFOR T H E Y E A R E N D E D O C T O B E R 3 1 , 2 0 2 1
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F I S C A L Y E A R
The consolidated government of the City of Lafayette and the Parish of Lafayette, Louisiana
Lafayette City‐Parish Consolidated Government
Lafayette, Louisiana
For the Fiscal Year Ended
October 31, 2021
Prepared by: Office of Finance & Management
Lorrie R. Toups, CPA, Chief Financial Officer
Table of Contents
Introduction .................................................................................................................................................. 3
Lafayette Consolidated Government by the Numbers ................................................................................. 5
Parish of Lafayette by the Numbers ............................................................................................................. 6
City of Lafayette by the Numbers ................................................................................................................. 7
Budget Performance ..................................................................................................................................... 8
Property Taxes .............................................................................................................................................. 9
Sales Taxes .................................................................................................................................................. 11
Revenues ..................................................................................................................................................... 12
Expenditures ............................................................................................................................................... 13
Fund Balance ............................................................................................................................................... 14
The information in the Popular Annual Financial Report provides an overview of Lafayette City‐Parish
Consolidated Government’s (LCG) General Fund. LCG’s Annual Comprehensive Financial Report includes
all governmental funds, proprietary funds, fiduciary funds, special revenue funds, debt service funds,
and discretely presented component units.
3
INTRODUCTION
About the Popular Annual Financial Report (PAFR)
The purpose of this Popular Annual Financial Report (PAFR) is to summarize and simplify the statistical,
economical, and financial information provided in Lafayette City‐Parish Consolidated Government’s
Annual Comprehensive Financial Report. The annual comprehensive financial report is developed in
conformity with generally accepted accounting principles and is independently audited by Kolder, Slaven
& Company, LLC. Although unaudited, the PAFR provides readers a summary of the Government’s
General Fund revenues, General Fund expenditures, and local economic indicators for the fiscal year
ended October 31, 2021.
This report is intended for readers that prefer to review operational and financial information in summary
form and is not a replacement for the Consolidated Government’s Annual Comprehensive Financial
Report. For a fully detailed, fully disclosed, GAAP‐based presentation of the Consolidated Government’s
financial position, the Annual Comprehensive Financial Report in its entirety, is available on Lafayette City‐
Parish Consolidated Government’s website at www.lafayettela.gov.
Profile of Government
The City of Lafayette, Louisiana is the parish seat of the Parish of
Lafayette. The 2021 estimated population of the City is 137,309
and the Parish is 245,191. The region was settled in 1763 by
exiled Acadians from Nova Scotia (commonly called Cajuns).
The Parish was created on January 17, 1823 and covers a total
of 277 square miles. The City of Lafayette was originally founded
as Vermilionville in 1821 and later renamed Lafayette in 1884.
The City was incorporated in 1914. The Parish is located in the
heart of Acadiana, an eight‐parish area in the center of southern
Louisiana between New Orleans and Houston.
Prior to January 2020, the governing authority of LCG was the Lafayette City‐Parish Council, consisting of
nine members elected from nine single member districts. By a general vote of Lafayette citizens, effective
January 6, 2020, this Council was replaced by two separate councils consisting of five members each. The
Lafayette City Council serves as the governing authority for the City of Lafayette. The Lafayette Parish
Council serves as the governing authority for the Parish of Lafayette. The City Council and Parish Council,
jointly, serve as the governing authority for Lafayette City‐Parish Consolidated Government. The LCG
chief executive is the Mayor‐President.
A listing of the principal Elected Officials as of October 31, 2021 follows:
Honorable Joshua S. Guillory Mayor‐President
Members of Parish Council Members of City Council
Bryan Tabor District 1 Patrick “Pat” Lewis District 1
Kevin Naquin District 2 Andy Naquin District 2
Josh Carlson District 3 Liz W. Hebert District 3
John J. Guilbeau District 4 Nanette S. Cook District 4
Abraham “AB” Rubin Jr. District 5 Glenn M. Lazard District 5
4
LCG’s governance structure is by home rule charter which, in its current form, was voted on by the
citizenry in 1992. Although the governments were consolidated in 1996, the Home Rule Charter states
that “The City of Lafayette shall continue to exist as a legal entity… and shall exercise all powers granted
by general state law and the state constitution for municipalities of the same population class.” The
Charter also states that all fees, charges, and taxes levied by Lafayette Parish and the City of Lafayette
shall continue to be levied by the City‐Parish Government for purposes and services as prior to
consolidation until changed by the appropriate Council(s) having legislative power over the subject matter
of the fees, charges, and/or taxes, or by a vote of the people when a vote is required for tax purposes;
therefore, after consolidating administration and operations of the two governments, LCG continues to
maintain separate accounts for the City of Lafayette and Lafayette Parish funds.
Mission Statement
The mission of Lafayette City‐Parish Consolidated Government is to
enhance the quality of life of our community by providing high‐quality;
cost‐effective services that meet the needs and expectations of the public.
Local Economy
The business base of the Parish includes energy services, manufacturing,
health care, transportation and distribution, education, information
technology, finance, tourism, and other service‐related industries. The
population in Lafayette’s trade market is over 600,000 people with over a
million tourists visiting the area each year. More than twenty percent of
the retail dollars spent in the Parish come from visitors outside the Parish’s
borders.
Awards
The Government Finance Officers Association of the United States
and Canada (GFOA) awarded a Certificate of Achievement for
Excellence in Financial Reporting to Lafayette City‐Parish
Consolidated Government for its annual comprehensive financial
report for the fiscal year ended October 31, 2020. The Certificate
of Achievement is a prestigious national award recognizing
conformance with the highest standards for preparation of state
and local government financial reports. In order to be awarded a
Certificate of Achievement, a government must publish an easily
readable and efficiently organized annual comprehensive financial
report. This report must satisfy both generally accepted
accounting principles and applicable program requirements.
In addition, Lafayette City‐Parish Consolidated Government also
received GFOA’s Distinguished Budget Presentation Award for its
annual operating budget prepared for the fiscal year ended
October 31, 2021. In order to receive this award, a governmental unit must publish a budget document
that meets program criteria as a policy document, an operations guide, a financial plan, and a
communications device.
5
Lafayette Consolidated Government by the Numbers – Fiscal Year 2021
Mission Statement
The mission of LCG is to enhance the quality of
our community by providing high‐quality; cost‐
effective services that meet the needs and
expectations of the public.
2,193
Budgeted Employees
Budgeted Position History
2021 2020
City General Fund 890 928
Parish General Fund 53 53
Special & Other Fund Positions
(Including Grants)
1,250
1,297
Total All Funds 2,193 2,278
$117,673,191
Combined General Fund
Final Operating Budget
2021 Construction Permits Issued
32 Commercial Permits
992 Residential Permits
5 Police Stations
231 Patrol Units
285 Police Uniform Positions
13 Fire Stations
7 Volunteer Fire Departments
263 Fire Uniform Positions
1,346 Miles of Streets
262 Bridges
20,706 Street Lights
27 Parks on 1,201 Acres
3 Golf Courses
10 Community Centers
9 Libraries
1,906,403 Items Checked Out
666,279 Visits to a Library
47 Miles of Transmission Lines
1,028 Miles of Distribution Lines
70,096 Meters in Service
992 Miles of Water Mains
6,672 Fire Hydrants
58,120 Service Connections
688 Miles of Sanitary Sewers
46,380 Service Connections
6
Parish of Lafayette by the Numbers – Fiscal Year 2021
245,191
Residents
Sales Tax Information*
Sales Tax Rate
State 4.45%
Schools 2.00%
Sheriff 1.00%
Parish 1.00%
Total Sales Tax Rate 8.45%
Gross Revenue
Parish 1% Sales Tax $6,373,263
*Note: The above Sales Tax information does not
include TIF or Economic Development Districts.
$7,630,586
Parish General Fund
Final Operating Budget
Property Tax Information
Millage Rate
General Alimony 4.875
Road & Bridge Maint. 4.545
Parish‐wide Drainage Maint. 3.58
Adult Correctional Facility Maint. 2.21
Library 4.75
Courthouse & Jail Maint. 2.51
Juvenile Detention Home Maint. 1.25
Combined Public Health 2.21
Storm Water Management 1.18
Parish Fire Protection 0.175
Debt Service Contingency 2.00
Total Millage Rate 29.285
Principal Property Taxpayers
December 31, 2020
1. Iberiabank
2. Southwest La Electric (SLEMCO)
3. A T & T / Bellsouth
4. Wal‐Mart / Sams
5. Franks Casing
6. Atmos Energy
7. Stuller Inc.
8. Entergy Gulf States
9. JP Morgan Chase
10. Anadarko Petroleum
Parish
11.5%
Sheriff
11.5%
Schools
24%
Louisiana
State
53%
7
City of Lafayette by the Numbers – Fiscal Year 2021
137,309
Residents
Sales Tax Information*
Sales Tax Rate
State 4.45%
Schools 2.00%
City Restricted 1.30%
City 0.70%
Total Sales Tax Rate 8.45%
Gross Revenue
1961 1% Sales Tax $51,262,785
1985 1% Sales Tax 43,185,120
Total City Sales Tax $94,447,905
*Note: The above Sales Tax information does not
include TIF or Economic Development Districts.
$110,042,605
City General Fund
Final Operating Budget
Property Tax Information
Millage Rate
General Alimony 5.42
Street Maintenance 1.29
Public Building Maint. 1.13
Public Safety 8.18
Parks & Recreation 1.92
Total Millage Rate 17.94
Principal Property Taxpayers
December 31, 2020
1. Iberiabank
2. Stuller Inc.
3. Wal‐Mart / Sams
4. A T & T / Bellsouth
5. JP Morgan Chase
6. Franks Casing
7. Whitney National Bank
8. Service Chevrolet Inc.
9. Entergy Gulf States
10. Home Bank
City
8%
City
Restricted
15%
Schools
24%
Louisiana
State
53%
8
Budget Performance – Fiscal Year 2021
The fund structure for LCG is especially complex. City and Parish funds are accounted for separately due
to the source of revenue and authority granted by the voters of both the City and the Parish. There are
two general funds; one for the City and one for the Parish that are reported as one combined general fund
to comply with generally accepted accounting principles.
The combined general fund final budget appropriations totaled $117,673,191. The final actual
expenditures of $109,818,958 were $7,854,233 less than the final budget appropriations. The final actual
revenues were $115,175,963, which was $1,051,641 more than the budgeted amount.
Below is a condensed Combined Budgetary Comparison Schedule for the General Fund. The full schedule
can be found on page 99 of the Annual Comprehensive Financial Report for the year ended October 31,
2021.
Final
Budget
Actual
Variance with
Final Budget
Positive
(Negative)
Fund Balance, Beginning $70,849,295 $70,849,295 ‐
Revenues:
Taxes 95,172,484 96,692,147 1,519,663
Licenses and Permits 3,199,718 3,190,165 (9,553)
Intergovernmental 3,783,151 3,762,911 (20,240)
Charges for Services 9,513,275 9,235,203 (278,072)
Fines and Forfeits 1,051,672 974,513 (77,159)
Investment Earnings 193,319 83,125 (110,194)
Miscellaneous 1,210,703 1,237,899 27,196
Total Revenues 114,124,322 115,175,963 1,051,641
Expenditures:
Current‐
General Government 26,714,962 24,761,884 1,953,078
Public Safety 82,221,645 78,394,772 3,826,873
Public Works 7,320,879 5,462,030 1,858,849
Culture and Recreation 144,636 60,000 84,636
Health and Welfare 41,827 41,826 1
Economic Opportunity 1,229,242 1,098,446 130,796
Total Expenditures 117,673,191 109,818,958 7,854,233
Excess (deficiency) of revenues over expenditures (3,548,869) 5,357,005 8,905,874
Other Financing Sources (Uses)
Transfers In 1,260,808 3,331,459 2,070,651
Transfers Out (26,977,136) (9,222,058) 17,755,078
Total Other Financing Sources (Uses) (25,716,328) (5,890,599) 19,825,729
Net Change in Fund Balance (29,265,197) (533,594) 28,731,603
Fund Balance, Ending $41,584,098 $70,315,701 $28,731,603
Some of the highlights of comparing the final budget to actual for the fiscal year include the following:
General Government had a positive variance of $1.9 million primarily due to reductions in
operating expenses such as personnel salaries and related costs, contractual and professional
services, and incomplete projects.
Public Works had a positive variance of $1.8 million due to reductions in general operating costs
and incomplete projects.
9
Property Taxes
Parish of Lafayette
During fiscal year 2021, taxes were levied by Lafayette Parish in August of 2020 and were billed to the
taxpayers by the Assessor in November of 2020 for the period November 1, 2020 through October 31,
2021. Billed taxes are due by December 31, becoming delinquent on January 1 of the following year. The
taxes are based on assessed values determined by the Tax Assessor of Lafayette and are collected by the
Sheriff. The taxes are remitted net of deductions for Pension Fund contributions.
For the year ended October 31, 2021, taxes of 29.285 mills were levied on property with net assessed
valuations totaling $2,202,052,148 and were dedicated as follows:
4.875 mills 4.545 mills 3.58 mills 2.21 mills 4.75 mills 2.51 mills
General
Alimony
Road & Bridge
Maintenance
Drainage
Maintenance
Adult
Correctional
Center
Library Courthouse &
Jail Maint.
1.25 mills 2.21 mills 1.18 mills 0.175 mills 2.00 mills
Juvenile
Detention
Home Maint.
Combined
Public Health
Storm Water
Management
Parish Fire
Protection
Debt Service
Contingency
Total taxes levied during 2020 for 2021, exclusive of homestead exemptions, were $57,960,968. Taxes
receivable at October 31, 2021 totaled $626,214, all of which is considered uncollectible. Therefore, an
allowance for uncollectible taxes was established for the entire balance, resulting in net taxes receivable
of $0.
History of total Parish millage levied is reported below:
29.66 29.61
27.67
30.28
29.22
29.80 29.80 29.80
27.96
29.285
26.00
27.00
28.00
29.00
30.00
31.00
2012 2013 2014 2015 2016 2017 2018 2019 2020 2021
Fiscal Year
Total Parish Millage
10
Property Taxes (Continued)
City of Lafayette
Taxes are levied by the City in April or May and are billed to taxpayers in November. The taxes are levied
for the period of November 1 through October 31. Billed taxes are due by December 31, becoming
delinquent on January 1 of the following year. The City bills and collects its own property taxes using the
assessed values determined by the Tax Assessor of Lafayette Parish.
For the year ended October 31, 2021, taxes of 17.94 mills were levied on property with net assessed
valuations totaling $1,538,106,171 and were dedicated as follows:
5.42 mills 1.29 mills 1.13 mills 8.18 mills 1.92 mills
General Alimony Street
Maintenance
Public Building
Maintenance
Public Safety Parks &
Recreation
Total taxes levied were $27,593,697. Taxes receivable at October 31, 2021 totaled $1,299,147, all of which
is considered uncollectible. Therefore, an allowance for uncollectible taxes was established for the entire
balance, resulting in net taxes receivable of $0.
History of the total City millage levied is reported below:
17.94 17.94 17.94 17.94 17.94
17.80 17.80 17.80
17.94 17.94
17.70
17.75
17.80
17.85
17.90
17.95
18.00
2012 2013 2014 2015 2016 2017 2018 2019 2020 2021
Fiscal Year
Total City Millage
11
Sales Taxes
Sales taxes make up one of the largest parts of local revenues and are usually restricted (dedicated) to
specific uses by the voters.
City of Lafayette
Proceeds of the 1961 one percent (1%) general sales and use tax levied by the City of Lafayette are
dedicated to capital improvements such as street improvements, building construction, drainage, and any
other work of permanent public improvement. Proceeds of the 1985 one percent (1%) general sales and
use tax levied by the City of Lafayette is dedicated to capital improvements for streets and drainage. Both
the 1961 and 1985 general sales and use taxes are dedicated to supplementing the revenues of the City’s
General Fund after providing the debt service on outstanding bonds, provided that such an amount cannot
exceed 35% of the annual sales tax revenues.
Parish of Lafayette
Lafayette Parish is authorized by the voters to levy and
collect one percent (1%) general sales and use tax on a
parish‐wide basis except for territory located within the
boundaries of any incorporated municipality situated
within the Parish. The net proceeds of the sales tax are
deposited in the Parish General Fund for general
expenditures.
*Note: The Sales Tax information on this page does not include TIF or Economic Development Districts.*
Where does my sales tax go in the
City of Lafayette?
Purchase = $10.00
State of Louisiana = $0.45
Schools = $0.20
City Restricted = $0.13
City = $0.07
Total Cost = $10.85
Where does my sales tax go in the
Unincorporated Areas of Lafayette?
Purchase = $10.00
State of Louisiana = $0.45
Schools = $0.20
Sheriff = $0.10
Parish = $0.10
Total Cost = $10.85
Operations &
Maintenance
35%Capital‐
related
debt
65%
City Sales & Use Tax 2%
12
Revenues: Where it Came From
In fiscal year 2021, $97 million or 84% of the General Fund (City & Parish) revenues were from taxes.
Taxes includes Ad Valorem, Sales & Use, Payment in Lieu of taxes and others.
The chart below graphically depicts the sources of revenue for the General Fund (City & Parish).
2021 Revenue Sources Amount
Taxes $96,692,147
Charges for Services 9,235,203
Intergovernmental 3,762,911
Licenses & Permits 3,190,165
Miscellaneous 1,237,899
Fines & Forfeits 974,513
Investment Earnings 83,125
Total Revenues $115,175,963
Taxes
84%
Charges for
Services
8%
Intergovernmental
3%
Licenses & Permits
3%
Miscellaneous
1%Fines & Foreits
1%
Investment
0%
2021 Revenue Sources
13
Expenditures: Where it Went
The 2021 General Fund (City & Parish) expenditures totaled $109,818,958 which is below the final
budgeted amount of $117,673,191. The General Fund budget provides funding for all major programs
except those required to be accounted for in another fund. Public Safety accounted for the majority of
the General Fund expenditures at $78,394,772 or 71% of actual expenditures.
The chart below graphically depicts the expenditures for the General Fund (City & Parish).
2021 Expenditures Amount
General Government $24,761,884
Public Safety 78,394,772
Public Works 5,462,030
Economic Opportunity 1,098,446
Health & Welfare 41,826
Culture & Recreation 60,000
Total Expenditures $109,818,958
General
Government
23%
Public Safety
71%
Public Works
5%
Economic Opportunity
1%
Health & Welfare
0%
Culture & Recreation
0%
2021 Expenditures
14
Fund Balance
Fund balance shows Lafayette Consolidated Government’s overall financial health. For the fiscal year
2021, the fund balance for the combined General Fund equaled $70,315,701. There are two major
categories for fund balance: nonspendable (not in spendable form) and spendable. Spendable Fund
Balance is further broken down into four categories; restricted, committed, assigned, and unassigned.
Eighty‐three percent (83%) of the total fund balance, or $58,036,195 is unassigned fund balance, which is
a sign of strong financial health.
Combined General Fund – Fund Balance History
Fiscal Year 2017 2018 2019 2020 2021
NonSpendable $ ‐ $ 3,349 $ 6,392 $ 1,535,313 $ 1,537,490
Committed 404,616 ‐ ‐ 10,016,795 10,742,016
Assigned 3,406,257 5,353,753 18,794,764 ‐ ‐
Unassigned 46,256,283 45,966,658 37,400,796 59,297,187 58,036,195
Total Fund Balance $50,067,156 $51,323,760 $56,201,952 $70,849,295 $70,315,701
$‐
$10,000,000
$20,000,000
$30,000,000
$40,000,000
$50,000,000
$60,000,000
$70,000,000
2017 2018 2019 2020 2021
Fiscal Year
Combined General Fund ‐Fund Balance History
NonSpendable Committed Assigned Unassigned