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Boca Raton posts $24.4 million net position gain in 2024; auditors give clean opinion
Summary
City financial staff on Monday presented the City of Boca Raton’s Annual Comprehensive Financial Report for fiscal 2024 and a long‑range financial plan update; auditors issued a clean opinion and staff reported a $7.7 million general fund surplus for the year.
City financial staff on Monday presented the City of Boca Raton’s Annual Comprehensive Financial Report (ACFR) for fiscal 2024 and a long‑range financial plan update covering projections through 2030. The report shows the city ended the year with about $1.5 billion in total assets, $469 million in liabilities and an overall increase in net position of roughly $24.4 million.
The presentation was led by the city’s finance director and deputy CFO and included an independent auditor’s report from CBIZ. Hermes Garzon, senior audit manager for CBIZ, told the council the firm issued an unmodified (clean) opinion on the financial statements and reported no internal control material weaknesses or compliance exceptions. Garzon also reported the city met the thresholds for a single audit of…
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