2021 - Audit Report

The Borough of Roosevelt's Comprehensive Annual Financial Report (ACFR) for the year ended December 31, 2021, includes financial statements and supplemental schedules. The report is structured into four sections: Introductory, Financial, Statistical, and Auditor's Comments and Recommendations. The financial statements have been audited by Samuel Klein and Company, LLP, who issued an unqualified opinion stating the statements are presented fairly in conformity with the basis of accounting as prescribed by the Division of Local Government Services, Department of Community Affairs, State of New Jersey. During 2021, the Current Fund encompassed the general government functions of the Borough, had revenues exclusive of fund balance utilized of $1,267,745.78 incurred expenditures of $1,223,614.76, resulting in a decrease of $47,718.79 in fund balance at year-end. The Water-Sewer Utility Operating Fund generated operating revenues exclusive of fund balance $951,223.31, expenditures of $872,744.74, resulting in an increase in fund balance of $78,478.57. There are no recommendations as a result of the audit.