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.
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.
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.
On Nov. 6th we vote on whether to increase taxes for our parish courthouse and jail or instead to maintain the status quo. But the status quo is broken. Here’s why.