A Message from Clerk Bock
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We have all been reading of the down-turn in the real estate market and the subsequent rise in foreclosures. But few people, even professional investment managers, foresaw the effect on local government. As Clerk & Comptroller, it is my fiduciary responsibility to prudently invest your taxpayer dollars to reduce the tax burden, while ensuring that your money is protected. This requires active management of the County taxpayers’ investment portfolio, as well as a willingness to ask tough questions when no one else is. It’s something I and my team of investment professionals do on a daily basis. And recently, it protected your tax dollars while the safety of money from other counties and municipalities was uncertain.
More to the Story: Clerk’s Office is Proactive in Protecting Your Tax Dollars |
In August, we were the first local government to request, in writing, full disclosure by the State Board of Administration (SBA) of the holdings in the Local Government Surplus Funds Trust Fund (state pool). Not satisfied with the response, my team began a systematic withdrawal of your tax dollars from the fund, bringing our balance to zero before a liquidity crisis forced the State to freeze the pool on November 28. The pool has since reopened. However, governments with money still in the fund have limited access to the money they have invested.
I want to recognize my Treasury department for their ongoing due diligence and proactive money management strategies. Their commitment to protecting taxpayer money makes Palm Beach County an example of excellence throughout Florida.
Clerk & Comptroller Sharon Bock serves as the County’s Chief Financial Officer, Treasurer and Auditor, Clerk of the Circuit Court, County Recorder and the Clerk to the Board of County Commissioners. Clerk Bock is an attorney and earned her series 7, 63, 65 and insurance licenses.