Financial Statements

Financial Reporting

The Auditor-Controller's Office publishes annual financial reports which provide an overview of the County's financial position, activities and condition. These publications are described below along with links to the reports:

Comprehensive Annual Financial Report (CAFR)

The Comprehensive Annual Financial Report (CAFR) provides detailed financial information regarding the County's financial position and activities and adheres to the reporting requirements for state and local governments. The main components of the CAFR include the Letter of Transmittal, Management's Discussion and Analysis, the Basic Financial Statements and Supplemental Information.

Orange County Citizens' Report - Popular Annual Financial Report (PAFR)

The Popular Annual Financial Report (PAFR) presents financial highlights for the County of Orange and is intended for the general or casual reader of the County's financial statements. The information contained in this report is limited to the summary-level information from the County's CAFR.

Component Unit Financial Statements

The County is also financially accountable for the reporting of component units which are legally separate organizations that the County must include as part of the primary government; component units, are in substance, part of the County's operations and therefore, data from these component units are combined with data of the primary government.

These following component units, in addition to reporting their financial data in the CAFR, are required to prepare their own individual financial statements to comply with bond covenants and/or state and federal legislation. These stand-alone financial statements are prepared at a more detailed level than what is reported in the CAFR:

Single Audit Report

The County of Orange is required to prepare an annual Single Audit Report to comply with the "Single Audit Act Amendments of 1996" and the Office of Management and Budget Circular A-133, "Audits of States, Local Governments, and Non-Profit Organizations." The Single Audit Report is a program-by-program report showing the County’s expenditures of Federal awards. The report contains the Schedule of Expenditures of Federal Awards, the Supplementary Schedule of Categorical Expenditure Distribution for the Corrections Standards Authority and Office of Emergency Services Grant Programs, and the Notes to the Schedule of Expenditure of Federal Awards.