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RooseveltYellow Risk

ClosedGeneral

2020 - Audit Report

BID #: N/A

ISSUED: 9/15/2022

DUE: TBD

VALUE: TBD

Rating

Risk Rank

Yellow Risk

AI-Powered Lead Insights

Executive Summary

The Borough of Roosevelt's Comprehensive Annual Financial Report (ACFR) for the year ended December 31, 2020, includes financial statements, supplemental schedules, and an independent auditor's report. The report is divided into four sections: Introductory, Financial, Statistical, and Auditor's Comments and Recommendations. The financial statements, prepared on a regulatory basis prescribed by the NJ Division of Local Government Services, received an unqualified opinion, affirming their fair presentation in conformity with the state's accounting basis. The report highlights progress in operational and financial areas while acknowledging ongoing challenges such as maintaining stable tax rates and addressing water-sewer infrastructure issues. The report was issued on September 15, 2022.

Detailed Risk Breakdown

local preference

No Flags Found

performance bond

Evidence Detected

4 CLAUSES FOUND

"...arges Delinquent Taxes and Tax Title Liens Water-Sewer Utility Receivables Cash Balances Revenues Expenditures Payroll Miscellaneous Comments Surety Bond Coverage Municipal Court Technical Directives - State of New Jersey Capital Funds lnterfund Receivable/Payable Other Matters Appreciation Foll..."

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