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News Release

CLERK BOCK TO PRESENT COUNTY COMMISSIONERS WITH
YEAR-END FINANCIAL REVIEW

The Presentation will also Include Recommendations for Improving
County Finances

WEST PALM BEACH, FL (May 16, 2011) – Clerk Sharon Bock will present her annual year-end financial review to the Palm Beach County Board of County Commissioners at 11 a.m. Tuesday, during the regular BCC meeting. The report, which is presented annually as County leaders begin discussions about the upcoming budget year, will also include a series of recommendations for improving the management of county tax dollars. This is the fifth year Clerk Bock has presented commissioners with the year-end review, which is based on the Comprehensive Annual Financial Report for Fiscal Year 2010.

Among the findings in this year’s report:

  • Palm Beach County’s net worth declined by $12 million from FY 2009 to FY 2010, marking the first time in at least a decade that there was a decrease in net assets, which can be used to measure the County’s financial position.
  • The County’s investment portfolio earned $75 million in interest income, translating to savings of $121 per taxpayer.
  • After two years of decline, the County’s property tax revenue increased by $6 million, or 1 percent, in FY 2010 in part due to some new construction and a rise in the County’s millage rate.

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

For more information about County finances, including the new edition of the Clerk & Comptroller’s annual Checks & Balances: Your Guide to County Finances, please visit our website at www.mypalmbeachclerk.com/countyfinances.

 

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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