Form N-CEN WESTERN ASSET MANAGED For: May 31
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X0404 N-CEN LIVE 0000886043 XXXXXXXX 811-06629 false false false N-2 Western Asset Managed Municipals Fund Inc. 811-06629 0000886043 549300HVO8EY2T8K4F73 620 Eighth Avenue 47th Floor New York 10018 US-NY US 1-888-777-0102 Computershare lnc. 462 South 4th Street Suite 1600 Louisville 40202 1-502-301-6000 Records related to its function as transfer agent. The Bank of New York Mellon 240 Greenwich Street New York 10286 1-212-495-1784 Records related to its function as custodian. Western Asset Managed Municipals Fund Inc. 620 Eighth Avenue 47th Floor New York 10018 1-888-777-0102 Records related to its function as registrant. Western Asset Management Company, LLC 620 Eighth Avenue 50th Floor New York 10018 1-212-601-6000 Records related to its function as investment sub-adviser. Legg Mason Partners Fund Advisor, LLC 280 Park Avenue New York 10017 1-305-529-4400 Records related to its function as investment adviser. N N N-2 Y Eileen A. Kamerick N/A N Jane Trust N/A Y Robert D. Agdern N/A N Nisha Kumar N/A N Daniel P. Cronin N/A N Carol L. Colman N/A N William R. Hutchinson N/A N Paolo M. Cucchi N/A N Fred Jensen 003203649 620 Eighth Avenue 47th Floor New York 10018 XXXXXX N N N N N N PricewaterhouseCoopers LLP 238 5493002GVO7EO8RNNS37 N N N N N N Western Asset Managed Municipals Fund Inc. 549300HVO8EY2T8K4F73 N 0 0 0 N/A Y N N N N/A N/A N/A Rule 17a-7 (17 CFR 270.17a-7) Rule 32a-4 (17 CFR 270.32a-4) Rule 12d1-1 (17 CFR 270.12d1-1) Y Y N N Legg Mason Partners Fund Advisor, LLC 801-66785 000140432 549300POFVK5JLWUL193 N Western Asset Management Company, LLC 801-08162 000110441 549300C5A561UXUICN46 Y N Computershare, Inc. 084-05925 254900Y7PP3ZED9AUY94 N N N IHS MARKIT GROUP HOLDINGS LIMITED 2138005LTLTVZ4WMEX25 GB N Refinitiv US LLC 213800HQORQAP68CJJ04 N ICE Data Pricing & Reference Data, LLC 5493000NQ9LYLDBCTL34 N Refinitiv Benchmark Services Limited N/A N Bloomberg L.P. 549300B56MD0ZC402L06 N PricingDirect Inc. 549300WIC0TOJ7N7GD54 N THE CLEARING HOUSE PAYMENTS COMPANY L.L.C. 549300KIB86ZLHRUV723 N Virtu Financial, Inc. 5493001OPW2K42CH3884 N Bank of America Merill Lynch PriceServe N/A N N The Bank of New York Mellon HPFHU0OQ28E4N0NFVK49 N N Bank - section 17(f)(1) (15 U.S.C. 80a-17(f)(1)) N Computershare Trust Company, National Association 2549001YYB62BVMSAO13 N N N Legg Mason Partners Fund Advisor, LLC 549300POFVK5JLWUL193 Y N N Clarion Partners Securities, LLC 008-69204 000166384 N/A 0.00000000 ROYCE FUND SERVICES, LLC 008-28663 000014470 N/A 0.00000000 Franklin Distributors, LLC 008-53089 000109064 N/A 0.00000000 Franklin Templeton Investment Services, Inc. 008-43206 000027884 N/A 0.00000000 0.00000000 MORGAN STANLEY & CO. LLC 008-15869 000008209 9R7GPTSO7KV3UQJZQ078 43647614.35000000 CitiGroup Global Markets Inc. 008-08177 000007059 MBNUM2BPBDO7JBLYG310 41484804.00000000 Loop Capital Markets LLC 008-50140 000043098 254900FPPM2WN90D4786 13906279.60000000 J.P. Morgan Securities LLC 008-35008 000000079 ZBUT11V806EZRVTWT807 83886943.90000000 RBC CAPITAL MARKETS LLC 008-45411 000031194 549300LCO2FLSSVFFR64 11233879.80000000 GOLDMAN SACHS & CO. LLC 008-00129 000000361 FOR8UP27PHTHYVLBNG30 49337046.75000000 TD SECURITIES (USA) LLC 008-36747 000018476 SUVUFHICNZMP2WKHG940 36900000.00000000 PERSHING LLC 008-17574 000007560 ZI8Q1A8EI8LQFJNM0D94 22806209.60000000 PIPER SANDLER & CO. 008-15204 000000665 549300GRQCWQ3XGH0H10 20822938.70000000 WELLS FARGO SECURITIES, LLC 008-65876 000126292 VYVVCKR63DVZZN70PB21 21800000.00000000 397395358.25000000 N 588882961.07000000 0.00000000 Preferred stock Western Asset Managed Municipals Fund Inc. Common stock Western Asset Managed Municipals Fund Inc. N N N N N N 0.78000000 1.34000000 11.13000000 12.20000000 false false true false false false false false false false false
Report of Independent Registered Public Accounting Firm
To the Board of Directors and Shareholders of Western Asset Managed Municipals Fund Inc.
In planning and performing our audit of the financial statements of Western Asset Managed Municipals Fund Inc. (the "Fund") as of and for the year ended May 31, 2022, in accordance with the standards of the Public Company Accounting Oversight Board (United States) ("PCAOB"), we considered the Fund's internal control over financial reporting, including controls over safeguarding securities, as a basis for designing our auditing procedures for the purpose of expressing our opinion on the financial statements and to comply with the requirements of Form N-CEN, but not for the purpose of expressing an opinion on the effectiveness of the Fund's internal control over financial reporting. Accordingly, we do not express an opinion on the effectiveness of the Fund's internal control over financial reporting.
The management of the Fund is responsible for establishing and maintaining effective internal control over financial reporting. In fulfilling this responsibility, estimates and judgments by management are required to assess the expected benefits and related costs of controls. A company's internal control over financial reporting is a process designed to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles. A company's internal control over financial reporting includes those policies and procedures that (1) pertain to the maintenance of records that, in reasonable detail, accurately and fairly reflect the transactions and dispositions of the assets of the company; (2) provide reasonable assurance that transactions are recorded as necessary to permit preparation of financial statements in accordance with generally accepted accounting principles, and that receipts and expenditures of the company are being made only in accordance with authorizations of management and directors of the company; and (3) provide reasonable assurance regarding prevention or timely detection of unauthorized acquisition, use or disposition of a company's assets that could have a material effect on the financial statements.
Because of its inherent limitations, internal control over financial reporting may not prevent or detect misstatements. Also, projections of any evaluation of effectiveness to future periods are subject to the risk that controls may become inadequate because of changes in conditions, or that the degree of compliance with the policies or procedures may deteriorate.
A deficiency in internal control over financial reporting exists when the design or operation of a control does not allow management or employees, in the normal course of performing their assigned functions, to prevent or detect misstatements on a timely basis. A material weakness is a deficiency, or a combination of deficiencies, in internal control over financial reporting, such that there is a reasonable possibility that a material misstatement of the company's annual or interim financial statements will not be prevented or detected on a timely basis.
Our consideration of the Fund's internal control over financial reporting was for the limited purpose described in the first paragraph and would not necessarily disclose all deficiencies in internal control over financial reporting that might be material weaknesses under standards established by the PCAOB. However, we noted no deficiencies in the Fund's internal control over financial reporting and its operation, including controls over safeguarding securities, that we consider to be a material weakness as defined above as of May 31, 2022.
This report is intended solely for the information and use of the Board of Directors of Western Asset Managed Municipals Fund Inc. and the Securities and Exchange Commission and is not intended to be and should not be used by anyone other than these specified parties.
/s/ PricewaterhouseCoopers LLP
July 21, 2022
PricewaterhouseCoopers LLP, 100 East Pratt Street, Suite 2600, Baltimore, MD 21202-1096 T: (410) 783 7600, F: (410) 783 7680, www.pwc.com/us
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