{"id":18681,"date":"2025-04-04T13:18:36","date_gmt":"2025-04-04T17:18:36","guid":{"rendered":"https:\/\/www.collierclerk.com\/?p=18681"},"modified":"2026-01-20T12:59:31","modified_gmt":"2026-01-20T17:59:31","slug":"2024-annual-comprehensive-financial-report-is-now-available","status":"publish","type":"post","link":"https:\/\/app.collierclerk.com\/collierclerkcom\/2024-annual-comprehensive-financial-report-is-now-available\/","title":{"rendered":"2024 Annual Comprehensive Financial Report is Now Available"},"content":{"rendered":"<p>We are pleased to present the Annual Comprehensive Financial Report for the fiscal year ended September 30, 2024. This report was prepared by our Finance and Accounting Department as part of the Clerk\u2019s legally prescribed duties. Responsibility for the accuracy of the data and the completeness and fairness of the presentation, including all disclosures, rests with the County\u2019s management. The information presented herein is accurate in all material respects and is reported in a manner designed to present fairly the financial position and results of County operations.<\/p>\n<p><b><span data-contrast=\"auto\"><img loading=\"lazy\" decoding=\"async\" class=\" wp-image-18682 alignleft\" src=\"https:\/\/www.collierclerk.com\/wp-content\/uploads\/2024-ACFR.png\" alt=\"\" width=\"400\" height=\"515\" srcset=\"https:\/\/app.collierclerk.com\/collierclerkcom\/wp-content\/uploads\/2024-ACFR.png 577w, https:\/\/app.collierclerk.com\/collierclerkcom\/wp-content\/uploads\/2024-ACFR-233x300.png 233w, https:\/\/app.collierclerk.com\/collierclerkcom\/wp-content\/uploads\/2024-ACFR-116x150.png 116w\" sizes=\"auto, (max-width: 400px) 100vw, 400px\" \/>Economic Conditions and Outlook<\/span><\/b><span data-ccp-props=\"{&quot;335551550&quot;:6,&quot;335551620&quot;:6}\">\u00a0<\/span><\/p>\n<p>The following bullet points outline current economic indicators:<\/p>\n<ul>\n<li>Taxable property market valuation for fiscal year 2024 totaled $138.0 billion.<\/li>\n<li>The County\u2019s millage for General Fund operations in fiscal year 2024 remained at only 32% of the statutory 10 mill limit, or $3.20 per thousand dollars of taxable value.<\/li>\n<li>Unemployment levels in recent years approximate the statewide average. The 2024 annual County unemployment rate stood at 3.7%, which is slightly higher than the statewide average of 3.3%.<\/li>\n<li>Income levels are high, with a per capita personal income of $133,186.<\/li>\n<li>The County experienced record setting tourism with bed tax collections of $48.6M during fiscal year 2024.<\/li>\n<li>Bed tax is levied at 5% on overnight stays of six months or less. This revenue benchmark was set even as half-cent sales tax revenues were down over 5% when compared with fiscal year 2023.<\/li>\n<li>During fiscal year 2024 the County\u2019s infrastructure surtax reached, sunset as the aggregate goal of $490M in revenue was surpassed.<\/li>\n<\/ul>\n<p>The Clerk\u2019s Office continually monitors both the economic and policy impacts on revenue sources, including sales taxes, tourist taxes, gas taxes, impact fees, and other revenues affected by economic conditions, as well as the County\u2019s operating and capital cash flow requirements.<\/p>\n<p>This monitoring process directly influences the investment approach and overall duration of the portfolio. The County\u2019s investments are managed to maintain financial flexibility and preserve capital through rising and declining interest rate cycles.<\/p>\n<p><strong>Awards And Acknowledgments<\/strong><\/p>\n<p>Collier County earned the Government Finance Officers Association of the United States and Canada (GFOA) Triple Crown award as one of only 350 governments receiving this honor. The Triple Crown award consists of:<\/p>\n<ul>\n<li>The Certificate of Achievement for Excellence in Financial Reporting to Collier County for its annual comprehensive financial report for the fiscal year ended September 30, 2023.<\/li>\n<li>The Outstanding Achievement in Popular Annual Financial Reporting to Collier County for its citizens report for the fiscal year ended September 30, 2023.<\/li>\n<li>The Distinguished Budget Presentation Award to Collier County and to the Clerk of Courts for their separately issued annual budgets for the fiscal year beginning October 1, 2024.<\/li>\n<\/ul>\n<p>To be awarded this honor, a government must meet the high standards of three separate award programs. Each award program recognizes governments that produce reports that transparently communicate their financial situations and meet all program standards.<\/p>\n<p>In addition, the Government Finance Officers Association of the United States and Canada presented an award for Distinguished Presentation to the Office of the Collier County Clerk of the Circuit Court and Comptroller for its annual budget for the fiscal year beginning October 1, 2023.<\/p>\n<p>The preparation and publication of this Annual Comprehensive Financial Report represents a significant effort by the Finance and Accounting Department as well as numerous County personnel who contribute to its production.<\/p>\n<p>We sincerely appreciate the external auditors CliftonLarsonAllen, the Board of County Commissioners, the Constitutional Officers, the County Manager, Deputy County Managers, Department Heads and the Division Directors for their assistance throughout the year in matters pertaining to the financial affairs of the County.<\/p>\n<p>We hope you find this report informative, accurate and easily readable. If you should have any questions related to this report or if additional information is desired, do not hesitate to contact Derek M. Johnssen, Director of Finance and Accounting, at (239)252-7863.<\/p>\n<p>Read and download the full 2024 Annual Comprehensive Financial Report (ACFR) at <a href=\"https:\/\/www.collierclerk.com\/finance\/reports\/acfr\/\">collierclerk.com\/finance\/reports\/acfr\/.<\/a>\u00a0<\/p>\n<p><strong><a href=\"https:\/\/designrr.page\/?id=470704&amp;token=4190383205&amp;h=8564\">Read and download the April 2025 Newsletter here.\u00a0<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>We are pleased to present the Annual Comprehensive Financial Report for the fiscal year ended September 30, 2024. This report &#8230; <\/p>\n<p class=\"read-more-container\"><a title=\"2024 Annual Comprehensive Financial Report is Now Available\" class=\"read-more button\" href=\"https:\/\/app.collierclerk.com\/collierclerkcom\/2024-annual-comprehensive-financial-report-is-now-available\/#more-18681\" aria-label=\"Read more about 2024 Annual Comprehensive Financial Report is Now Available\">Read more<\/a><\/p>\n","protected":false},"author":19,"featured_media":18682,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[1548,1108,1244,1064,592],"class_list":["post-18681","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-announcements","tag-2024-acfr","tag-acfr","tag-annual-comprehensive-financial-report","tag-finance-and-accounting-department","tag-government-finance-officers-association","infinite-scroll-item","generate-columns","tablet-grid-50","mobile-grid-100","grid-parent","grid-25","resize-featured-image"],"_links":{"self":[{"href":"https:\/\/app.collierclerk.com\/collierclerkcom\/wp-json\/wp\/v2\/posts\/18681","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/app.collierclerk.com\/collierclerkcom\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/app.collierclerk.com\/collierclerkcom\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/app.collierclerk.com\/collierclerkcom\/wp-json\/wp\/v2\/users\/19"}],"replies":[{"embeddable":true,"href":"https:\/\/app.collierclerk.com\/collierclerkcom\/wp-json\/wp\/v2\/comments?post=18681"}],"version-history":[{"count":2,"href":"https:\/\/app.collierclerk.com\/collierclerkcom\/wp-json\/wp\/v2\/posts\/18681\/revisions"}],"predecessor-version":[{"id":18763,"href":"https:\/\/app.collierclerk.com\/collierclerkcom\/wp-json\/wp\/v2\/posts\/18681\/revisions\/18763"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/app.collierclerk.com\/collierclerkcom\/wp-json\/wp\/v2\/media\/18682"}],"wp:attachment":[{"href":"https:\/\/app.collierclerk.com\/collierclerkcom\/wp-json\/wp\/v2\/media?parent=18681"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/app.collierclerk.com\/collierclerkcom\/wp-json\/wp\/v2\/categories?post=18681"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/app.collierclerk.com\/collierclerkcom\/wp-json\/wp\/v2\/tags?post=18681"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}