CFO-ELECT ATWATER RECOGNIZES CLERK & COMPTROLLER BOCK FOR OUTSTANDING ACHIEVEMENTS IN GOVERNMENT FINANCE
The Clerk’s comptroller staff consistently receives honors for financial reporting
and top ratings for the investment of Palm Beach County tax dollars
WEST PALM BEACH, FL (December 20, 2010) – Clerk & Comptroller Sharon Bock welcomed Florida Chief Financial Officer-Elect Jeff Atwater on Monday to honor the Clerk & Comptroller’s office for its exemplary work in the area of government finance.
Atwater, who will be sworn into office as CFO on January 4, met with Clerk Bock and Comptroller staff to congratulate them for their recent achievements in financial reporting and investment management. With duties similar to what Atwater’s will be on the state-level, Bock serves as the elected CFO for Palm Beach County.
“You are real professionals,” said Atwater to Bock and Clerk employees during the meeting held at the Board of County Commission chambers in West Palm Beach. “Thank you for serving the citizens with the thoughtfulness and caution that you do.”
“Our office continues to set the standard for excellence in financial reporting and investing taxpayers’ money,” Clerk Bock said. “I’m pleased that CFO-Elect Atwater recognizes the importance of our CFO role at the county level and our office’s outstanding work.”
Clerk & Comptroller’s 2010 Achievements
• For the 21st consecutive year, the Clerk & Comptroller’s office has received the Government Finance Officers Association’s Certificate of Achievement for Excellence in Financial Reporting for the 2009 Comprehensive Annual Financial Report for Palm Beach County. The GFOA is a nonprofit professional association which offers benchmarking and independent analysis of public accounting practices and financial reporting.
• The office received the GFOA’s Award for Outstanding Achievement in Popular Annual Financial Reporting for Checks & Balances: Your Guide to County Finances for the fourth year in a row.
• The Clerk & Comptroller’s investment portfolio has received its Investment Steward Certification from the Centre for Fiduciary Excellence for the second year. The Clerk’s office was the first county government office in the United States to earn this credential which certifies that it conforms to fiduciary standards of excellence for its investment management practices.
• Standard & Poor’s awarded its highest possible credit and volatility rating categories to the nearly $2 billion dollar investment portfolio managed by the Clerk’s office. The portfolio received an AAAf rating, indicating extremely strong protection against credit losses, and an S1 rating, indicating low sensitivity to changing market conditions. Investment earnings save each taxpayer an estimated $138 per year.
“These are all extremely important and noteworthy achievements – not just for our office, but for Palm Beach County taxpayers who can feel secure in knowing we’re responsible stewards of their tax dollars,” Clerk Bock said.
As the independently elected Chief Financial Officer of the County, the Clerk & Comptroller’s office provides a check and balance as the accountant, treasurer and auditor, handling finances, investments and County financial reporting.
For more information about Palm Beach County finances or to view the Clerk & Comptroller's financial publications, please visit the Public Funds section of this Website or call (561) 355-2996.
The Florida Constitution established the independent office of the Clerk & Comptroller as a public trustee, responsible for safeguarding public records and public funds. Clerk Sharon Bock is directly elected by and accountable to Palm Beach County residents. In addition to the roles of Clerk of the Circuit Court, County Recorder and Clerk of the Board of County Commissioners, the Clerk & Comptroller is the Chief Financial Officer, Treasurer and Auditor for Palm Beach County.
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