It’s not surprising that the decision to shutter widely used cultural and community facilities has sparked significant public outcry. But it’s a choice — not a necessity.
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city general fund
Lafayette’s city general fund is facing such large deficits that even zeroing out what critics call government waste won’t be enough to close the gap.
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Even if the coronavirus wasn’t causing a global depression, Lafayette’s city and parish general funds would be in rough shape. But now shortfalls in revenue are going to force some painful cuts.
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The general assumption has been that the parish is broke but the city is doing fine. When you dig into the latest budget, a more troubling reality emerges.
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The gist: LCG’s annual audit, presented this month to the City-Parish Council, revealed a worsening trend over the last fiscal year: The parish is out of money, while the city has a generous fund balance.
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In the upcoming fiscal year the city general fund will bring in just over $100 million and end the year with a fund balance of almost $40 million. The parish general fund will bring in less than $12 million and end the year with a fund balance of about $100,000.
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