Investments
As the treasurer for Palm Beach County, the Clerk & Comptroller invests and earns income on public funds, ultimately reducing the burden on taxpayers. For example, when the county takes in revenue, such as property taxes, it is invested until needed for payroll and other bills.
The Clerk's certified investment professionals proactively manage the roughly $2 billion dollar portfolio to maximize investment earnings, while ensuring that tax dollars are protected. The Palm Beach County Investment Policy, created by the Clerk and the County’s Investment Policy Committee, governs investments and provides guidelines related to risk management and reporting requirements.
All reports on this page are in PDF format and require the free Adobe Reader.
Investment Information
Supplemental information and reports intended to help the public further understand county investments:
Monthly Investment Summary Reports
The Investment Summary provides a numerical and graphical portrayal of the allocation of portfolio holdings by asset class. It also presents important bond yields and money market rates to provided market trend information as well as a way to measure the portfolio’s yield relative to the fixed income markets.
Invesment Update: November 2011
The outlook for short term interest rates and long term bond yields is driven by inflation , the strength of the economy, and the Federal Reserve’s monetary policy. The job market is experiencing low wages and high unemployment producing low unit labor costs and low inflation. Wage costs are 70% of the total price of production. There is excess plant capacity and commodity prices are beginning to come down. The Fed is committed to low short term interest rates and bond yields to spark faster economic growth and more employment. The Fed’s own economic forecast calls for slow, subpar economic growth until early 2014. That means low interest rates for the foreseeable future.
Invesment Update: October 2011
Economic, inflation, and financial market trends continue to favor lower short term interest rates and bond yields. Consumers continue to curb spending due to slow income growth, a 9.0% unemployment rate, job insecurity, high debt, declining home prices, and volatile stocks. Business hiring is restrained due to poor sales visibility and declining profit margins. Federal as well as state & local governments are cutting jobs and spending while raising taxes. Export growth is slowing as China growth slows and Europe edges toward recession. The Federal Reserve continues to push long term bond yields lower while keeping short term interest rates near zero. Inflation remains near the Fed’s target. The Fed’s outlook is for low rates until 2013.
Certifications & Ratings
In 2007, the office became the first government agency in the country to have its entire investment staff earn the Accredited Investment Fiduciary© Certification, signifying a commitment to the responsible stewardship of the public’s money.
Since 2009, Standard & Poor’s has awarded its highest possible credit and volatility rating categories to the 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.
Other Financial Reports
Your source for additional information on Palm Beach County finances, revenue and spending: