The City prepares its Annual Financial Report at the end of its fiscal year. The City also appoints an external independent certified public accountant to conduct an audit of its Annual Financial Report and provide its opinion to City Council.

The City’s Annual Financial Report and the independent auditor’s opinion are filed annually with the following agencies:

1. State Controller’s Office
2. Los Angeles County Auditor-Controller
3. Municipal Securities Rulemaking Board (while bonds are outstanding)
4. Federal Audit Clearinghouse (when more than $500,000 of federal fund was expended within a fiscal year)

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