City of Laguna Niguel Popular Annual Financial Report | Year Ended June 30, 2024 TABLE OF CONTENTS Introduction 02 About Laguna Niguel 03 04 City Organization Chart 05 Demographics and Key Statistics 06 Notable Community Events 07 Strategic Plan Executive Summary Fund Balances 09 10 General Fund Revenues 11 General Fund Expenditures General Fund Reserves 12 Capital Improvement Program 13 14 Investments GLOSSARY OF ACCOUNTING TERMS FUND: An accounting entity with a self-balancing set of accounts. Each fund operates independently almost like its own “company”. Funds are established for specific purposes, like the Gas Tax Fund, which records revenues received for gas taxes, and allowable expenditures of those revenues. FUND BALANCE: The “retained earnings” of the City since its incorporation. Each fund has its own fund balance. GENERAL FUND: The primary fund of the City used to account for all revenues and expenditures of the City not legally restricted as to use. SPECIAL REVENUE FUNDS: These funds are separately administered because revenues are restricted by the State of California, the Federal government, or other governmental agencies as to how the City may spend them. MODIFIED ACCRUAL BASIS: Revenues are recognized when both measurable and available to the City. Expenditures are recorded as they occur. cityoflagunaniguel.org 01