The report from Mac Taylor also warns Local Governments, the State and other Federal officers would have an "increasing workload to prepare to manage security and other tasks related to the Games".

It calls for a "big inter-Governmental effort" from various stakeholders.

"Between now and 2024, the focus of activity would be on Olympics organisers, their contractors working to get venues ready, and international athletics groups," the report says. 

"Over time, however, the city, other local governments, and the state - along with federal officials - would have an increasing workload to prepare to manage security and other tasks related to the Games."

The document aims to give a summary of the current state of Los Angeles 2024's bid and provides an update on changes made by the Bid Committee since the LAO published a similar report back in November.

It claims the LAO can "play a constructive role in making the Games a success and keeping its financial risks low", as well as ensuring a $250 million (£200 million/€232 million) financial guarantee from the State of California will never "need to be paid from the state treasury".

California Governor Jerry Brown signed the Bill containing the financial pledge into law in September of last year.

The report deals with a number of elements of the Los Angeles 2024 bid from various stakeholders should the city secure the hosting rights for the Olympics and Paralympics at the International Olympic Committee (IOC) Session in Lima on September 13.

Speculation is growing, however, that the IOC will award both the 2024 and 2028 editions to Los Angeles and its only other challenger, Paris, in the Peruvian capital.

During an Executive Board meeting in Pyeongchang last week, IOC President Thomas Bach announced the establishment of a working group to discuss reforms to the bid process, including possibly jointly awarding the 2024 and 2028 Games later this year.

Both Bid Committees have sternly warned in the past week that they are not interested in the 2028 Games and are focused solely on 2024.

Los Angeles Mayor Eric Garcetti exclusively told insidethegames that they had "never contemplated anything else" but 2024.

Bid chairman Casey Wasserman then told insidethegames that the IOC should award Los Angeles the 2024 Games if they are serious about Agenda 2020, the strategic roadmap for the future of the Olympic Movement - the validity and success of which has been criticised recently.

"We appreciate the California State Legislative Office's independent review of our bid, which expresses confidence in our work to 'greatly reduce the financial risks that have plagued prior Olympics," Los Angeles 2024 chief executive Gene Sykes said.

"Los Angeles 2024's plans and budget have been independently validated numerous times, which has helped generate 88 per cent public support for hosting the Games at this critical time for the Olympic Movement.

"With no permanent venues to build, including an Olympic and Paralympic Village, only Los Angeles 2024 offers the lowest-risk and truly sustainable solution for the future of the Olympic Movement in 2024 and beyond."

To read the full report click here.