2022 - Audit Report

This document is the Annual Comprehensive Financial Report (ACFR) for the Borough of Roosevelt, New Jersey, for the year ended December 31, 2022. The report includes financial statements, supplemental schedules, and an independent auditor's report from Samuel Klein and Company, LLP. The report covers the Borough's financial position, results of operations, and compliance with accounting practices prescribed by the Division of Local Government Services, Department of Community Affairs, State of New Jersey. The report is divided into four sections: Introductory, Financial, Statistical, and Auditor's Comments and Recommendations. It details the financial activities of various funds, including the Current Fund and the Water-Sewer Utility Fund. The report also addresses present and future challenges, such as maintaining stable tax rates and dealing with water-sewer infrastructure problems.