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News Release

CLERK & COMPTROLLER SHARON BOCK TO PRESENT
“STATE OF THE COUNTY” FINANCIAL REVIEW

Award-winning annual guide to county finances also will be distributed Tuesday

WEST PALM BEACH, FLA. (May 20, 2013) - Palm Beach County Clerk & Comptroller Sharon Bock will present her annual “State of the County” address of the county’s financial health at the Board of County Commissioners at 9:45 a.m. Tuesday, during the board’s regular meeting.

In her role as the county’s Chief Financial Officer, Treasurer and Auditor, Clerk Bock will present her annual report as County Commissioners begin discussions on the budget for the upcoming fiscal year. She will also make recommendations to help the county save money and better manage taxpayers dollars.

Also on Tuesday, the Clerk & Comptroller will distribute the latest edition of Checks & Balances: Your Guide to County Finances, also known as a Popular Annual Financial Report (PAFR). Checks & Balances is the easy-to-read financial report designed to inform Palm Beach County residents on how their tax dollars are spent. Checks & Balances is based on the Comprehensive Annual Financial Report (CAFR), also produced each year by the Clerk & Comptroller’s office.

All financial reports, including the Annual Investment Guide and the Annual Debt Guide, are available online at www.mypalmbeachclerk.com/countyfinances.

“As the County Comptroller, monitoring and reporting all aspects of the county’s finances is an important part of transparency and government,” Clerk Bock said. “That’s why the State of the County address and Checks & Balances are both valuable tools which allow citizens to gauge the county’s fiscal health.”

The findings in this year’s Checks & Balances report include:

  • Property tax revenue collections – the county’s main source of income – were down for the second consecutive year, with the county collecting $824 million in Fiscal Year 2012, compared with $839.7 million in FY2011;
  • With tax collections down, county spending decreased as well. The expenditures related to running county government declined by nearly $2.6 million – or approximately 1 percent – in FY2012, the second straight year that expenses dropped; and
  • Some signs of economic recovery emerged in FY2012, such as an 82 percent increase in residential building permits issued and a 13 percent increase in collection of Tourist Development Taxes, also known as bed taxes. 

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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