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News Release

CLERK BOCK TO PRESENT FINANCIAL REVIEW TO COUNTY COMMISSIONERS

Checks & Balances guide to Palm Beach County finances also available

WEST PALM BEACH, FLA. (May 14, 2012) – Clerk & Comptroller Sharon Bock will present her annual “State of the County” report on Palm Beach County’s financial health to the Board of County Commissioners at 10:45 a.m. Tuesday, during the board’s regular meeting.

As the County’s independently elected Chief Financial Officer, Clerk Bock is presenting her annual review to County Commissioners as they begin discussions for the upcoming budget year. She also will make recommendations for improving management of tax dollars and for the County’s fiscal future.

Also during Tuesday’s meeting, County Commissioners will receive the latest edition of Checks & Balances: Your Guide to County Finances. Palm Beach County residents who want to know how their tax money is being spent can either pick up a copy of Checks & Balances at Tuesday’s meeting or download a copy of this year’s report at www.mypalmbeachclerk.com/countyfinances.

Both Checks & Balances and the financial report to the Board of County Commissioners are based on the Comprehensive Annual Financial Report, produced each year by the Clerk & Comptroller’s financial division.

Among the findings in this year’s report:

  • For the first time since 2007, Palm Beach County’s revenues slightly exceeded expenditures in Fiscal Year 2011.
  • Interest income generated by the County’s investment portfolio totaled $59 million, or the equivalent of $94 per property owner in Palm Beach County. The Clerk & Comptroller’s office manages the County’s investment portfolio.
  • Palm Beach County’s net assets – what the County owns minus what they owe – increased by $38 million in Fiscal Year 2011. The major reason for this increase was increased revenue from federal grants.

Tuesday’s meeting will be in the County Commission chambers on the sixth floor of the Governmental Center, 301 N. Olive Ave., West Palm Beach.

For more information about County finances and the financial reports available from the Clerk & Comptroller’s office, visit the County Finances page on www.mypalmbeachclerk.com.

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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