At their regular Tuesday evening meeting, the Lakewood City Council approved a pedestrian safety project that will look at a variety of safety enhancements that could be used at crosswalks in the city. The project will utilize funds provided to the city recently by the federal American Rescue Plan Act.
The project will start by analyzing 28 crosswalks that currently do not include a traffic signal or stop sign. Traffic engineers will determine if adding features such as flashing pedestrian signs, stop signs or traffic signals will improve safety at the locations pursuant to state transportation rules on where such devices are warranted.
At their Tuesday meeting, council members also reviewed the city’s 2021 Annual Comprehensive Financial Report (ACFR). This report was previously known as the CAFR, but underwent a worldwide name change this year.
Performed by an independent audit firm, the ACFR indicates that Lakewood’s finances are being kept in good order and accurately follow generally accepted accounting principles.
The audit firm provided Lakewood an “unmodified opinion,” which is the highest assurance possible from a certified public accounting firm. Lakewood was also awarded the Certificate of Achievement for Excellence in Financial Reporting for the 39th year in a row by the Government Finance Officers Association.
Lakewood’s fiscal position is strong, thanks in large part to increased retail and online sales activity in Lakewood over the past year and the resultant increase in sales tax, including revenue from Measure L that the voters of Lakewood passed in March 2020.
Having a budget surplus in the initial years after the passage of Measure L was a key part of the overall Measure L plan that will allow Lakewood to pay upfront for capital improvements and other budget items in order to keep expenses down in the long term and give Lakewood a strong, sustainable budget for the future.