Budget

 Lakewood's 2016-2018 Budget
Lakewood Budget FY 2014-2016

Lakewood Budget FY 2013-2014

Lakewood Budget FY 2012-2013

Lakewood Budget FY 2011-2012

At their Tuesday, June 28, 2016 meeting, the Lakewood City Council approved a $177.8 million balanced budget covering two fiscal years, from July 1, 2016 to June 30, 2018. The budget includes:

  • Bolivar Park improvements, including two new playgrounds, new picnic shelters and upgrades to the irrigation system. The school-aged playground will include an innovative 75-foot-long zip line for children--the longest of its kind in Lakewood.
  • Enhancements to the Burns Community Center, including a new elevator, expanded space for building users, new flooring and restroom renovations.

The city will continue to fully fund law enforcement services from the L.A. County Sheriff's Department and Lakewood's award-winning recreation programs for all ages.

Click for PDF of Lakewood’s full budget (Please be patient when downloading this large document.)

“My council colleagues and I poured over the details in reviewing this budget,” said Mayor Ron Piazza. “I’m pleased that Lakewood is in good financial condition and is able to carry out a reasonable number of new projects to keep our city modernized and in good shape for the future. Some of the new projects, such as for parks and community buildings, are ones that our residents will easily see and appreciate. Others, such as for our water system, may be underground or not easily seen, but are very important for maintaining our infrastructure and keeping Lakewood a good city for all of us to live in.”

Capital Improvement Projects in FY16-18 Lakewood budget:

  • The council also approved an innovative stormwater capture and irrigation project at Mayfair Park. The city won a $15 million grant from Caltrans to pay 100% of the project costs. Design work will take place in 2016, with implementation expected to start in mid-2017.
  • The council also approved the repaving of Woodruff Avenue, which is expected to take place in late 2016 to early 2017.
  • The city will continue the modernization of Lakewood’s water system to keep it safe, reliable and sustainable, with projects in the next two years focused on upgrading pumps, neighborhood water mains, and residential meters and drilling a new well.

Water and trash rates adjusted

To fund the water system modernization effort, the average water bill will increase by $2.50 a month from its current level of $33 a month. Lakewood’s city water system has rates that are traditionally within the middle range of those charged in the region. Trash rates will increase by only 31 cents a month from their current level of $19.43.