Carlsbad, CA
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Annual comprehensive financial reports
State law and the city's Municipal Code require an annual financial report be prepared in conformity with General Accepted Principles and with the financial reporting requirements prescribed by the Governmental Accounting Standards Board. The information found in this Annual Comprehensive Financial Report is provided by management to the City Council and the public to assist those interested in understanding the fiscal condition of the city for each fiscal year.
Single Audit Reports
A Single Audit is required for organizations that expend $750,000 or more in federal funds during a fiscal year, with the threshold increasing to $1,000,000 as of October 1, 2024, under the Single Audit Act of 1984 and the Uniform Guidance (2 CFR Part 200, Subpart F). The report evaluates compliance with federal regulations, grant agreements, and program requirements while assessing internal controls and financial management systems. The information found in the report is provided by management to the City Council and the public to promote accountability and transparency, and ensure federal funds are used appropriately and for intended purposes.
Quarterly financial status reports
The Finance Department prepares financial status reports quarterly, with the majority of the report focused on the city's the General Fund. Revenues and expenditures are compared to the previous fiscal year as well as the monthly financial status report expectations. In addition, the financial status of the water and wastewater enterprises are included.
