NO!! Booleans are horrible, because they only work %50 of the time. Creat a cylinder. Go to faces mode, go to top view. Selet everything but the out side faces, delete them. Select the faces you have left, and go Polygon, extrude. Then switch to your scale tool. Hold Ctrl, and click on the Y Axis Scaler. This is move the X and the Z the same, but not the Y, then drag inward, to make it the right size. then go to object mode, and select the cylinder. Use you scale tool to make it as tall as you want it.
Sounds complicated, its realy simple. And i promise if you do it right, it works %100 of the time!