The purpose of this report is solely to describe the scope of the testing of internal control and compliance and the results of that testing, and not to provide an opinion on the effectiveness of the SBA’s internal control or on compliance. This report is an integral part of an audit performed in accordance with Government Auditing Standards in considering the SBA’s internal control and compliance. The Florida Office of the Auditor General audited the financial statements of the State Board of Administration (SBA) Local Government Surplus Funds Trust Fund (Florida PRIME), as of and for the fiscal years ended June 30, 2023, and June 30, 2022, and the related notes to the financial statements, which collectively comprise Florida PRIME’s basic financial statements.