Any addresses of or links to other websites, which may be contained herein or in any document contained thereon, are given for the convenience of the user only. In some cases, the City of Los Angeles Office of the City Administrative Officer has not participated in the preparation, or selection of information of any other website, and in all respects, assumes no responsibility or liability for the contents thereof.
All financial documents available through the websites linked below should only be considered reliable as of the date they were prepared. The City of Los Angeles Office of the City Administrative Officer undertakes no obligation to update any information on the websites linked below. The information, estimates, and expressions of opinion therein are subject to change without notice and the posting of information on the websites linked below does not imply that there has been no change in such information or the affairs of the City of Los Angeles since the dated date of any information or report or date of posting such information. Forward-looking statements are subject to a variety of uncertainties that could cause actual results to differ materially from the projected results.
Pursuant to the City Charter, the Mayor proposes, and the City Council is responsible for enacting, an annual budget. The annual budget consists of appropriations based on estimated revenues and expenditures developed during the six to ten-month period preceding the start of each fiscal year. Those estimated revenues and expenditures rely on economic and financial assumptions that the City develops for budgetary purposes based on then-available information. The City updates its estimated revenues and expenditures over the course of the fiscal year as economic and financial conditions develop, which often differs from those estimated at the time that the annual budget is originally adopted. These differences are sometimes material. As such, the annual budget may be modified by the Mayor and City Council throughout the fiscal year.
The annual budget is not prepared, nor is it suitable, for the purpose of an investor understanding the forward-looking financial condition of the City or for making any investment decision in any bonds issued by the City or secured by any City revenues. Further, the economic and financial assumptions that the City presents in the annual budget have been prepared for budgetary purposes, which assumptions may differ materially from those that the City would use to communicate financial projections to investors. The City files official statements for bond offerings, audited financial statements, annual comprehensive financial reports, annual financial information, material event notices, and voluntary disclosures with the Municipal Securities Rulemaking Board (MSRB) and makes such information available on the City of Los Angeles Investor Relations website. The annual budget will not be filed with the MSRB.