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Boca Raton reports $1 billion net position and clean audit; investment yield rises to about 3%
Summary
City staff presented the Fiscal Year 2023 Annual Comprehensive Financial Report showing roughly $1.4 billion in assets, about $446 million in liabilities and an approximately $1 billion net position; independent auditors issued a clean opinion and the treasury reported about a 3% realized yield for the year.
Carlisha Jenkins, accounting manager in the city’s financial services department, presented the Fiscal Year 2023 Annual Comprehensive Financial Report (ACFR), saying the city ended the year with roughly $1.4 billion in total assets and about $446 million in liabilities, including roughly $68 million in bonds payable. "We ended the year with a net position of approximately $1,000,000,000, of which $268,000,000 was unrestricted," Jenkins said.
Jenkins told the council governmental activities net position increased by about $22.3 million, driven largely by an approximately $13.7 million increase in property tax revenues; business‑type activities rose by about $5.1 million, mainly from…
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