Budget

BUDGET-AT-A-GLANCE

At their June 10 meeting, Lakewood City Council Members approved mid-cycle adjustments to the two-year budget that runs from July 1, 2024 to June 30, 2026.

Overall, Lakewood’s budget is balanced in its priorities, with almost equal spending on public safety, public works/infrastructure, and recreation and community services (each constitute approximately 25% of the city budget). 

The complete budget documents are listed below.

Features of the 2025-26 revision of the two-year budget include:

  • Investments of more than $1 million to address rising regional public safety concerns, including $300,000 for additional private security patrols to help augment the work of Lakewood Sheriff’s deputies. Due to the large number of vacancies in the LASD, Lakewood is unable to contract for additional deputies. In response, city has invested in other public safety tools to preserve Lakewood’s neighborhood quality of life.  
  • Funding for two additional part-time homeless outreach professionals to offer assistance to those in need. The three team members will connect homeless individuals with the proper resources and reduce the impact of homeless encampments.  One resource is the leased beds at the Bell homeless shelter reserved for Lakewood, moving homeless individuals off the streets.
  • Additional city cleanup crews will assist with debris left in public rights of way, all with an eye on public safety and quality of life issues.
  • Continued work on the next set of infrastructure improvements in Lakewood. Funded by voter-approved Measure L, these projects include:
    • Renovations to the Weingart Senior Center and Palms Park community building
    • HVAC, electrical and roofing repairs and upgrades to community buildings throughout Lakewood
    • A citywide paving project set to begin later this summer that will include 53 streets and 12 alleys, covering approximately 13.5 linear miles 

“Thanks to the modifications to the mid-cycle budget,” Lakewood Finance Director Jose Gomez told city council members, “not only is Lakewood’s budget balanced, but the city is on target to end the next fiscal year with a surplus of $2.4 million, even higher than what was initially projected when the budget was adopted last year.”

While the nation continues to face a degree of fiscal uncertainty in the currently unsettled economic environment, Lakewood is well positioned to withstand whatever negative impacts may come over the next year, according to Lakewood City Manager Thaddeus McCormack. He added, “As in years past, the City will remain committed to prudent fiscal management, strong financial oversight and a disciplined ‘living within our means’ approach to meeting both current and future community needs.” 

Budget documents

Lakewood Budget FY 2025-26 Revised(PDF, 13MB)

Lakewood Budget FY 2024-2026(PDF, 10MB)

Lakewood Budget FY23-24 Revised(PDF, 6MB)

Lakewood Budget FY 2022-2024(PDF, 5MB) 

Lakewood Budget FY 2020-2022(PDF, 4MB)

Lakewood Budget FY 2018-2020(PDF, 1MB)

Lakewood Budget FY 2016-2018(PDF, 3MB)

Lakewood Budget FY 2014-2016(PDF, 17MB)

Lakewood Budget FY 2013-2014(PDF, 3MB)

Lakewood Budget FY 2012-2013(PDF, 2MB)

Lakewood Budget FY 2011-2012(PDF, 4MB)

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