Bay Harbor Islands’ award  winning Finance  Department provides financial and accounting information for its citizens and officials.

The Finance Department provides a variety of services including budget preparation, utility billing,     accounts payable processing, payroll processing, risk management and preparation of the award     winning Comprehensive Annual Financial Report.

The amount of General Fund revenues  by type, their percent  of the total and the amount of change compared to last fiscal year are shown in the following schedule:

 

  • Property tax receipts declined 10.8% due to the reduction in the tax rate from 4.75 mills to 3.6565.

  • The decrease in licenses and permits reflects lower building permit fees as a result of declining activity in construction due to weakness in the real estate market.  

  • Investment earnings were adversely affected by lower interest rates and the reduction in investable funds due to the previous year’s purchase of future park land.

 Expenditures in the General Fund are shown in the following schedule:

·        Costs related to improvements on land acquired last year for park construction increased culture and recreation expenditures.

·        Last year’s land acquisitions increased capital outlays; the dramatic decline reflects a return to more “normal” levels of capital expenditure. 

Certificate of Achievement for Excellence in Financial Reporting

The Government Finance Officers’ Association of the United States and Canada awarded a Certificate of Achievement for Excellence in Financial Reporting to the Town for its comprehensive annual financial report for the year ended September 30, 2007.  This was the twelfth consecutive year the Town received the award.  In order to earn the award, the Town published an easily readable and efficiently organized report that conformed to program standards, generally accepted accounting principles, and applicable legal requirements. The Certificate of Achievement is the highest form of recognition for excellence in financial reporting by state and local governments and is valid for a period of one year only.  The 2008 report was prepared in accordance with the standards of the Certificate of Achievement program and has been submitted for review by the GFOA.

                               

 

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Town of Bay Harbor Islands - 9665 Bay Harbor Terrace - Bay Harbor  Islands,  Fl.,  33154 

305-866-6241  - E-mail: townhall@bayharborislands.org

 

 

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