| Consistently delivering responsive, efficient, quality services to the public and internal customers. |
The Fiscal Year 2017 budget, which took effect on October 1, 2016, was $4.19 billion, including tax supported and non-tax supported funds. The combined millage rate was $5.669 per thousand dollars of taxable value, $0.54 less than in Fiscal Year 2016.
The budget funds a variety of County programs and services such as transportation, traffic engineering, parks and recreation, libraries, mosquito control, animal care, elderly and veteran services and human services. Nearly half of the property tax supported General Fund is allocated to the Constitutional Offices, primarily the Broward Sheriff’s Office, Property Appraiser and Supervisor of Elections.
The recommended budget continues Broward County’s long standing tradition of financial stability, multi-year planning and responsible stewardship. Broward County taxes consist of less than one-quarter of the overall tax bill, which also includes city taxes, school district taxes and special taxing districts.
Financial Management
In April 2017, Fitch Ratings affirmed the A rating on the $167 million Port Everglades Senior Revenue and Refunding Bonds and revised the rating Outlook on the outstanding bonds from Stable to Positive.
In September 2017, the County’s investments continued to rebound from the Great Recession, achieving an annualized yield to maturity on the $2 billion investment portfolio of 1.332 percent, which marked the highest investment return since July 2011.
In the past fiscal year, the County published Electronic Records Management policies and procedures to govern proper records retention and disposal of electronic records, documents and data.
The County entered into a Memorandum of Understanding with AirBnB for tourist tax collections for all AirBnB vacation rentals in Broward.
The Accounting Division maintains the County’s financial records, produces financial reports, processes payroll for County employees and processes all vendor invoices for payment. It also provides informative and relevant financial information for the residents of Broward County, the Board of County Commissioners, other governmental agencies, investors and creditors, all of whom make social and economic decisions.
For 28 consecutive years, the Government Finance Officers Association of the United States and Canada (GFOA) has awarded Broward County a Certificate of Achievement for Excellence in Financial Reporting for its Comprehensive Annual Financial Report. To be considered for this prestigious award, a government must publish an easily readable and efficiently organized comprehensive annual financial report, which satisfies both generally accepted accounting principles and applicable legal requirements.
