PBC economy showing improvement, adds $53 million in interest income

[sharenow]
Sharon Bock Clerk
Clerk & Comptroller Sharon Bock

During her annual “State of the County” address on Palm Beach County’s finances, Clerk & Comptroller Sharon Bock told commissioners that now is the time to enact comprehensive policies that will save money for the future.

Bock said that despite a difficult economy, the investment team was able to earn $53 million in interest income on the county’s investment portfolio. She said Palm Beach County is beginning to see improvement in the economy, demonstrated by an increase in median home prices, and an increase in collection of sales, gasoline and tourist development taxes.

“With the economy continuing to improve, it is both wise and prudent to plan now for the future,” Bock said. “Adopting policies on debt and reserves will give present and future county commissioners the guidance they need to make wise decisions with taxpayer dollars.”

Bock made the following recommendations to county commissioners:

  • Use a strategic approach to developing and aligning the budget with Board-directed priorities.
  • Increase use of technology such as pay cards and an automated time and attendance system.
  • Implement a long-term financial plan prior to issuance of additional debt.

At Tuesday’s presentation, the seventh consecutive year for Bock, the latest edition of Checks & Balances: Your Guide to County Finances was distributed to commissioners and the public. The report is also available online.

DONATE TO BIZPAC REVIEW

Please help us! If you are fed up with letting radical big tech execs, phony fact-checkers, tyrannical liberals and a lying mainstream media have unprecedented power over your news please consider making a donation to BPR to help us fight them. Now is the time. Truth has never been more critical!

Success! Thank you for donating. Please share BPR content to help combat the lies.
[sharenow]

Comment

We have no tolerance for comments containing violence, racism, profanity, vulgarity, doxing, or discourteous behavior. If a comment is spam, instead of replying to it please click the ∨ icon below and to the right of that comment. Thank you for partnering with us to maintain fruitful conversation.

PLEASE JOIN OUR NEW COMMENT SYSTEM! We love hearing from our readers and invite you to join us for feedback and great conversation. If you've commented with us before, we'll need you to re-input your email address for this. The public will not see it and we do not share it.

Latest Articles