Finance

The Finance Administration Division coordinates and compiles the citywide budget document. The budget process, guidelines, assumptions and training are coordinated and provided by this division. The division ensures that the budget complies with the Governmental Accounting Standards Board (GASB).

The City‘s budget is approved by City Council as an ordinance before Nov. 1 of each year, for the ensuing year. The current budget document is the latest year shown, as approved or proposed (not yet approved), while all other documents contain dated information for historical references only.

A hard copy of the budget document is available for viewing at the City Clerk’s Office.   

*If you need an accessible version of any of these documents, please contact adacoordinator@lakewood.org

2025 Proposed Annual Budget(PDF, 89MB)

projects paid for with tabor funds

         Tabor Project Summary(PDF, 43KB)

budgets by year:

• 2024 Annual Budget(PDF, 51MB)
• 2024 CIPP Project Budgets(PDF, 12MB)
• 2023 Annual Budget(PDF, 16MB)
• 2022 Annual Budget(PDF, 20MB)

The Lakewood Public Building Authority (LPBA) is an entity that is legally separate from the City.  For financial reporting purposes, the LPBA consists of a single fund and is blended into the City’s financial statements because it was formed to construct, finance and lease municipal and recreation facilities exclusively to the City.  A separate budget for the LPBA is prepared and approved by that entity’s board of directors. 

The Accounting Division compiles the City’s Annual Comprehensive Financial Report (ACFR), working closely with Finance Administration. The ACFR includes the City of Lakewood financial statements and complies with City Charter, generally accepted accounting principles and the Governmental Accounting Standards Board (GASB). The financial statements are externally audited; beginning with the 2021 financial audit, CliftonLarsonAllen (CLA) will serve as the City's external auditors. The data contained in the reports are for historical reference only. The information contained is not updated for development subsequent to the date of the independent auditor’s report.

*If you need an accessible version of any of these documents, please contact adacoordinator@lakewood.org.

2023 Annual Comprehensive Financial Report(PDF, 34MB)

 (PDF, 34MB)

ANNUAL comprehensive FINANCIAL REPORTS (ACFR) BY YEAR:

• 2022 ACFR(PDF, 4MB)

Lakewood Ledger is the City's online tool for residents to better understand how Lakewood spends taxpayer funds. The tool allows viewers to search the City's spending accounts by expense type, department, fund and by vendor name. It includes payments made through procurement cards that function like credit cards, accounts payable vouchers and other payment methods.

The City of Lakewood is funded by tax dollars. As such, the City's purchasing procedures have been established to ensure that open, fair and competitive means are used to purchase goods and services in the most economical way. The City strives to maintain public confidence through ethical and transparent procurement practices.

The City of Lakewood, through Purchasing, operates a partially decentralized purchasing system. Professional procurement personnel handle transactions greater than $25,000. Transactions less than $10,000 are generally assigned to trained staff in each city department.

Formal solicitations (Invitation to Bid, Request for Proposal, Formal Request for Quote) are posted on the Rocky Mountain E-Purchasing System (RMEPS). This system services various agencies and provides a centralized site with instant access to bid opportunities throughout the Rocky Mountain region. Vendors interested in doing business with the city are encouraged to register on this site. Registration is free unless the vendor wishes to receive automatic notification from RMEPS of new bidding opportunities.

The city also posts formal solicitation notices on the its website under Legal Notices.

The city may use cooperative agreements, state price agreements and "piggyback" purchasing methods for supplies and services when applicable and available. 

Visit the business licensing and  sales tax page to license your business, file and pay taxes, and learn more about City of Lakewood taxes.

The City of Lakewood provides water service and sanitary sewer service to a small area within the city. In addition, the City of Lakewood maintains the public stormwater drainage system consisting of many storm drains or inlets, underground storm lines, culverts, gulches and open channels throughout Lakewood.

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