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City Financial Reports

After the conclusion of the City's fiscal year, which runs July 1st through June 30th, Laguna Beach completes closing entries and finalizes the financial records. Independent auditors conduct an audit of the City's financial records in accordance with Generally Accepted Accounting Principals (GAAP) to ensure legal and fiscal accountability to the public. The City then prepares a Comprehensive Annual Financial Report (CAFR) which presents General Information on the City's structure, services, and environment, audited basic financial statements and required supplemental information, and statistical data on trend, financial, and other information.