Click the report titles to view the reports
March 29, 2013
(West Palm Beach, FL) – The City of West Palm Beach today released two detailed reports on how your tax dollars are spent.
The first report is the City’s Comprehensive Annual Financial Report for the fiscal year ending September 30, 2012. It is a 337 page detailed accounting of the City’s financial health. Fiscal year 2012 was the fifth year in a row when property values in the city declined, leading to a drop in total property values from $12.7 billion to $8.2 billion over that five year period.
The falling property values make it increasingly difficult for all local governments to continue to provide services at the same level as previous years.
As a result, the report details some of the tough choices made by the City in FY 2012. According to the report, these choices included “raises in the millage rate, increasing user fees, eliminating positions, furloughs, reductions in employee benefits, postponing equipment replacements, and the reduction or elimination of City services.”
The second report released to the public today was the City of West Palm Beach Community Redevelopment Agency 2012 Annual Report for the fiscal year ending September 30, 2012.
The CRA report includes background information on the Agency, its redevelopment areas as well as FY 2012 spending.
The West Palm Beach CRA was created in 1984. The Agency consists of two separate redevelopment areas comprising approximately 1,399-acres.
Both reports are available for the public to read by clicking on the links contained in this story.