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News Release

Clerk & Comptroller Sharon R. Bock’s State of the County

With Record-Breaking Revenues, Now Is the Time to Plan for the Future Rainy Day

Palm Beach County, Fla. (May 1, 2018) – Sharon R. Bock, Clerk & Comptroller, Palm Beach County presented her annual “State of the County” address on Tuesday, May 1. The report summarized the financial position and operating results of Palm Beach County in Fiscal Year 2017.

Key financial highlights include:

  • Property tax revenues set a new record high, close to $1.1 billion dollars.
  • Sales tax collections of $88.2 million set another revenue record.
  • The new one-cent sales tax provided $80 million dollars to the County for infrastructure projects during calendar year 2017.
  • The County collected a record-breaking $48.5 million dollars in tourist development taxes.

“This year again, Palm Beach County experienced record high revenues in all areas,” said Clerk Bock. “However, sound fiscal management demands the County proactively plan for the next cyclical economic downturn.”

Clerk Bock’s recommendations to County Commissioners include:

  • Develop a strategic plan for future budget shortfalls, including a Board review of high level fiscal policies — Debt, Fund Balance and Reserves — and formal Board adoption of these policies.
  • Develop clear and concise guidelines and expectations for County departments’ annual budget trimming exercise.

“The presentation is based on our independently audited Comprehensive Annual Financial Report (CAFR) produced each year by the Clerk & Comptroller,” said Shannon R. Chessman, Chief Operating Officer of Finance at the Clerk’s office.

As the independently elected comptroller, Clerk Bock serves as Palm Beach County’s Chief Financial Officer, Treasurer and Auditor. A separation of powers between the elected policymakers on the Board of County Commissioners and the Clerk & Comptroller’s fiscal authority ensures that the public’s tax dollars are managed and spent according to public policy.

View the entire State of the County presentation, as well as County financial reports such as Checks & Balances: Your Guide to County Finances and the Comprehensive Annual Financial Report (CAFR), at www.mypalmbeachclerk.com/countyfinances.

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About the Clerk & Comptroller, Palm Beach County
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.

For more information about the Clerk & Comptroller, call 561.355.2996 or visit www.mypalmbeachclerk.com.

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