NEW INSIDE! Financial Focus: Investment Committee Supports Buying Israel Bonds Portfolio Profile: Year-end Results Clerk & Comptroller Recognized for Outstanding Financial Reporting |
A Message from Clerk Bock 
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. Read more online.
Clerk’s Office is Proactive in Protecting Your Tax Dollars The Clerk & Comptroller’s office took proactive steps to protect your tax dollars, removing all money from the state investment pool before the recent freeze of assets in the fund that caught many other counties and municipalities across Florida by surprise. Read more online. Investment Committee Supports Buying Israel Bonds Palm Beach County’s Investment Policy Committee (IPC) has agreed to support investing in bonds issued by the State of Israel. The IPC’s decision came after a recent change to Florida law authorizing, for the first time, county and municipal governments throughout the state to invest in bonds backed by the full faith and credit of the State of Israel. The IPC approved revised language at its October 18 meeting, sending it to the Board of County Commissioners for final approval. Commissioners approved the change with a unanimous vote at their regular meeting on December 4. |
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Portfolio Profile: Year-end Results Palm Beach County’s consolidated investment portfolio continues to exceed expectations and finished the fiscal year at $1.74 billion. The current balance is $2.1 billion. The portfolio, which is managed by the Clerk & Comptroller’s office to maximize the earning potential of tax dollars and reduce the tax burden on Palm Beach County citizens, had an overall book yield of 5.17 percent as of September 30, 2007. This outperformed the Investment Policy Committee’s benchmark, which is the 24-month moving average of the 2-year Constant Maturity Treasury Index yield of 4.70 percent. Read more online.
Clerk & Comptroller Recognized for Outstanding Financial Reporting The Clerk & Comptroller’s office continues to earn recognition for superior financial reporting. Checks & Balances: Your Guide to County Finances, the office’s first-ever citizens’ report on Palm Beach County revenue and spending, received the Award for Outstanding Achievement in Popular Annual Financial Reporting (PAFR) from the Government Finance Officers Association (GFOA). The easy-to-read guide, which helps the non-financial reader understand how County funds are managed and spent, also received a Silver 2007 Spotlight Award from the League of American Communications Professionals, which recognizes best-in-class practices in communications. Read more online. CVB Follow-up The Palm Beach County Convention & Visitor’s Bureau (CVB) has fixed many of the problems found during a December 2006 audit by the Clerk & Comptroller’s office, but more still needs to be done. A follow-up review to determine whether the recommendations included in the original report have been implemented was released by the Clerk’s Audit Division on December 10. Read more online. Statewide Grand Jury Shall Come to Order! A year-long statewide grand jury session kicked off September 18 for the very first time in Palm Beach County. Statewide grand juries deal with the investigation of crimes that cross county lines, and are hosted on a rotating basis by counties throughout the state. This one was assembled to tackle a surge of gang-related violence across the state and right here in Palm Beach County. The session will operate under the oversight of the office of the Statewide Prosecutor, with the Clerk & Comptroller’s office aiding in this very important judicial process. Read more online.
Irish Eyes Smile on Clerk’s Court Operations From the Emerald Isle to the Palm Beaches! Top court officials from Ireland traveled half-way around the world to learn world-class best practices in court services, court technology, customer satisfaction and performance measures from the Palm Beach County Clerk & Comptroller’s office. The four-person team met October 1 with Clerk Sharon R. Bock and members of the Clerk’s staff. The meeting was followed by a tour of Clerk Court Operations within the Main Judicial Complex. Read more online.
Need a passport? No problem! The Miami Passport Agency, which processes passport applications throughout South Florida, says processing times have returned to normal. The agency was flooded with applications earlier this year causing a big backlog and delays. However, now you can expect this improved turn-around time for your passport. Read more online.
VAB Filing Frenzy Feeling pinched by rising property values and squeezed for time, thousands rushed to file petitions with the Value Adjustment Board (VAB) before the September 14 deadline. When all was said and done, a record-setting 11,118 petitions were filed, an increase of almost 9% over last year. Several months of VAB hearings are now underway. Read more online.
Best Practices 2007 a Success! Leaders from more than 100 business, government and nonprofit organizations helped make the Clerk & Comptroller’s Best Practices 2007: Navigating Change – Lead Today… Prepare for Tomorrow a huge success! Those who attended our 4th annual Best Practices event on October 24, are more revved up and ready than ever before to make a commitment to continuous improvement in their organizations and communities. Attendees heard from nationally-syndicated columnist and author Dale Dauten, locally renowned motivational speaker Rick Caldwell and several other experts in navigating change in leadership, ethics, human resources and technology. Read more online.
Clerk’s Office an Athena Award Finalist Employees of the Clerk & Comptroller’s office know that their workplace is a great environment to build a career. Now, thanks to the Chamber of Commerce of the Palm Beaches, the rest of the world knows too! The Clerk’s office was recently named by the Chamber as a 2007 Athena Award finalist. Read more online. |
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