2023 - Audit Report

The Borough of Roosevelt's Annual Comprehensive Financial Report (ACFR) for the year ended December 31, 2023, includes financial statements, supplemental schedules, and an independent auditor's report from Samuel Klein and Company, LLP. The report, prepared by the Chief Financial Officer and audited by Gerard Stankiewicz, CPA, RMA, is presented in four sections: Introductory, Financial, Statistical, and Auditor's Comments and Recommendations. The ACFR indicates that the Current Fund had revenues of $1,400,949.29 and expenditures of $1,676,699.08, resulting in a decrease of $29,315.78 in the fund balance. The Water-Sewer Utility Operating Fund generated revenues of $971,050.24 and expenditures of $963,837.66, increasing the fund balance by $7,212.58. The Borough also faces challenges including maintaining stable tax rates and addressing water-sewer infrastructure issues.