Village fiscal operations are independently audited every year. An audit is required by local regulation, State law, and debt issuance compliance. The audit process generally begins 60-90 days after the end of the fiscal year, and takes several months to complete. Auditors issue a Comprehensive report of fiscal operations. Local governmental officials may then use this information to supplement other methods of monitoring financial condition, such as for cash flow analysis and forecasting of revenues and expenditures.