News & Events

Lafayette, LA –Moody's Investors Service ("Moody's") has announced an upgrade to the special tax rating of Lafayette from Aa3 to Aa2, reflecting the city's strengthened financial profile and fiscal management. Additionally, Moody's has assigned an Aa2 rating to the new sales tax bonds.

Moody's decision to upgrade Lafayette's special tax rating to Aa2 highlights the Boulet Administration’s commitment to prudent financial management and future fiscal stability. The upgrade reflects Lafayette's robust revenue base, conservative budgeting practices, and proactive debt management strategies.

"This rate increase speaks to our financial team, led by CFO Karen Fontenot. Our team has established strong fiscal policies and credibility that will help us for years to come," said Mayor-President Monique B. Boulet. "This rating increase will save taxpayer dollars and allow more funds to be used for critical projects."

In addition to the rating upgrade, Moody's has assigned an Aa2 rating to Lafayette's new sales tax bonds, reflecting the city's stable economic base and low debt burden.

The upgrade of Lafayette's special tax rating and the assignment of an Aa2 rating to the new sales tax bonds reflect Moody's confidence in the city's financial strength and creditworthiness. Lafayette remains dedicated to fiscal responsibility and prudent stewardship of public resources, ensuring a bright and prosperous future for residents, businesses, and investors.

OFFICE OF FINANCE AND MANAGEMENT EARNS PRESTIGIOUS TRIPLE CROWN AWARD

Lafayette, LA – Lafayette Consolidated Government’s (LCG) Office of Finance and Management is a Triple Crown Winner — the first award of its kind in the history of the finance department.

The Government Finance Officers Association of the United States and Canada (GFOA), which acknowledges outstanding public financial management, recognized the department with awards in all three of its categories — Certificate of Achievement for Excellence in Financial Reporting, the Distinguished Budget Presentation Award, Popular Annual Financial Reporting Award.

This is the department’s first year to win the Popular Annual Report Award, which is information extracted from the comprehensive financial report and presented in an easily understandable document for the general public. This is the seventh consecutive year the finance department brought home the Achievement for Excellence Award (the highest form of recognition in governmental accounting and financial reporting) and the ninth consecutive year to win the Distinguished Budget Presentation.

LCG is one of only two governmental entities in Louisiana to be named Triple Crown winners for the fiscal year ending on October 31, 2021. “These awards demonstrate our Finance employees’ dedication to excellence in governmental financial reporting,” said Chief Financial Officer Lorrie Toups.

Lafayette Mayor-President Josh Guillory praised the Office of Finance and Management and Toups for their remarkable achievement. “I am grateful for our staff and their willingness to go above and beyond for our community. Winning the Triple Crown demonstrates their commitment to high standards,” Guillory said.

Toups will receive the awards, on behalf of her department, at the City and Parish Council meetings on Wednesday, February 1, 2023.

Lafayette, LA – For the sixth consecutive year, the Government Finance Officers Association of the United States and Canada (GFOA) has awarded the Certificate of Achievement for Excellence in Financial Reporting to Lafayette Consolidated Government (LCG) for its annual, comprehensive financial report for the fiscal year ending October 31, 2020.