Generally accepted accounting principles (GAAP) have established the basic financial statements and required supplementary information (RSI) as the minimum standard for financial reporting in the public sector. Governments are expressly encouraged to go beyond these minimum requirements and to present a comprehensive annual financial report (CAFR). The City of Laguna Niguel prepares a CAFR annually and presents the document to the Investment, Banking & Audit Committee every November, and City Council every December.
The CAFR has three major sections: introductory, financial, and statistical. The introductory section furnishes general information on the City’s structure, services, and environment. The financial section contains all individual funds and discreetly presented component units not reported separately in the basic financial statements. The statistical section provides trend data and nonfinancial data useful in interpreting the basic financial statements and is especially important for evaluating economic condition.
Comprehensive Annual Financial Reports (CAFR)
CAFR FYE 2015-2016
CAFR FYE 2014-2015
CAFR FYE 2013-2014
CAFR FYE 2012-2013
CAFR FYE 2011-2012
CAFR FYE 2010-2011