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Boca Raton reports clean audit, $1.4 billion in assets; investment returns about 3%
Summary
City staff presented the FY2023 Annual Comprehensive Financial Report and an unmodified audit opinion, highlighting roughly $1.4 billion in assets, a net position near $1.0 billion and investment yields around 3%; auditors reported no material weaknesses and single-audit testing raised no findings.
Carlisha Jenkins, the city's accounting manager, presented Boca Raton's Annual Comprehensive Financial Report for the fiscal year ended Sept. 30, 2023, and said the independent auditors issued an unmodified ("clean") opinion on the financial statements.
"We are pleased to re to have received a clean, unmodified opinion on our financial statements," Jenkins said during the workshop presentation, noting the ACFR follows generally accepted government accounting standards and includes a management's discussion and analysis summarizing the year's results.
The report shows the city ended the fiscal year with just over $1.4 billion in total assets, including about $698 million in capital assets. Liabilities were reported at roughly $446 million, including around $68 million in…
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