BY: STAFF REPORT | BocaNewsNow.com
BOCA RATON, FL (BocaNewsNow.com) (Copyright © 2024 MetroDesk Media, LLC) — Palm Beach County Clerk and Comptroller Joseph Abruzzo is at it again — securing another top honor. This time its a certification. Here’s what the office shared with BocaNewsNow.com.
The Clerk of the Circuit Court & Comptroller’s investment team recently received the Centre for Fiduciary Excellence (CEFEX) certification for the 15th consecutive year. The certification shows that the Clerk’s investment team adheres to a high standard of fiduciary best practices when investing Palm Beach County taxpayer money.
The Clerk’s certified investment professionals, under the leadership of Clerk Joseph Abruzzo, proactively manages the County’s roughly $4.6 billion portfolio to maximize investment earnings after ensuring taxpayer money is protected and available to pay County expenses. In Fiscal Year 2024, the office’s in-house investment team earned $230 million in investment income for Palm Beach County, setting a record for investment income for the second consecutive year.
“Every year, we choose to have our financial practices thoroughly examined by CEFEX, a respected independent organization. This voluntary review shows our commitment to being open and responsible with your tax dollars. It is a financial health check-up for the county,” Clerk Abruzzo said. “I am proud of our investment team for consistently meeting these high standards and earning two years of record-setting investment returns. This process helps ensure we’re making the most of every dollar entrusted to us by our residents.”
As the Treasurer for Palm Beach County, Clerk Abruzzo’s team invests and earns income on taxpayer money. When the County takes in money such as property taxes, it is invested until needed for payroll and other bills.
CEFEX is an independent global assessment and certification organization. Its mission is to promote and verify excellence by assessing and certifying conformity to high professional standards of conduct.
