Page 5 - Jupiter Spotlight - April '20

Jupiter Spotlight, Page 5
Northern Notes

Dollars And Sense (Of Purpose) colleges and universities, special districts, and private firms. throughout the state of
The FGFOA is dedicated to being a professional resource Florida as we celebrate their
By Katie Roundtree, Finance Director, by providing opportunities through education, networking, accomplishments.”
Northern Palm Beach County Improvement District leadership and information. The weeklong series of activities “The professional
By official proclamation, on March 10, the Palm Beach sponsored by the FGFOA and all of its member governmental finance officer’s knowledge,
County Board of County Commissioners, designated organizations, is aimed at recognizing government finance integrity and dedication make
March 16 to 20 as “Government Finance Professionals professionals and the vital services that they provide to our certain that funds entrusted
Week.” This inaugural Government Finance Professionals state and to our communities. to government are properly
Week is sponsored by the Florida Government Finance “This is a wonderful opportunity to showcase the budgeted, disbursed and
Officers Association (FGFOA), a professional association talents of many professionals who are generally not in the accounted for,” Burke said.
founded in 1937 and serving more than 3,300 professionals public eye,” said FGFOA President Ken Burke. “We offer “This accountability is a key
from state, county and city governments, school districts, congratulations to all of the government finance professionals ingredient to ensure people’s
faith in government.”
Northern Palm Beach County Improvement District’s
finance department consists of a finance director, budget
manager, fiscal specialist/receptionist, information system
specialist/payroll clerk and two part-time interns. Staff is
responsible for preparing and managing an approximately
$37 million budget for roughly 50 unique units of
development. Each unit has its own budget and assessment
rate(s). Northern’s tax roll is certified each year with
approximately 160 different assessment rates that are applied
to each of the 58,000 parcels within the district.
We take our responsibility seriously and that gives us
the sense of purpose to ensure the proper accountability of
taxpayers’ money. The most recent audit of the financial
statements of the district was presented to the Board
of Supervisors in February and Northern received an
unmodified opinion on the fair presentation of the financial
statements, the best result possible.
Finally, we are in the process of drafting our 2020/21
budget. In an effort to communicate our spending plan to our
When you retire, your life changes in many ways – and so constituents, Northern’s staff will hold meetings with unit
do your finances. One of the biggest changes is that instead representatives, including landowners, property managers
of contributing to tax-deferred retirement savings plans that and homeowner association representatives. The district’s
reduce your taxes, you’ll start tapping those savings for Budget and Banking Committee will carefully review all
income and paying taxes at your regular rate (unless you’re aspects of the proposed budget. Meetings will be held
tapping a Roth account) – not the preferential capital-gains throughout the late spring and early summer to discuss the
rate reserved for stocks and bonds held in taxable accounts. budget with the Board of Supervisors. Check our website
for our meeting schedule.
Reconsider your retirement account contributions, and NPDES tip: Please do not put any excess oils, paints or
increase them, if possible. solvents into lakes, canals, or storm drains! They go directly
into the ground water supply.
2141 Alt A1A South Suite 310
Jupiter, Florida 33477 401(k) contributions reduce your AGI (that’s adjusted
gross income, or the amount of income on which you pay
The Retirement Planning Specialists Crafting Financial taxes). Increases toward your annual contribution limit, Chief’s Corner
Solutions with Insight and Integrity since 1980 which will increase from $19,000 to $19,500 in 2020,
reduce taxable income. If you’re self-employed or have
self-employed income in addition to regular W-2 income, Dear Resident,
consider opening a solo 401(k) to further reduce your AGI April has been
and protect your financial future. designated as National
Distracted Driving
Planning for a lifetime of secure financial fulfillment is a Awareness Month. As
very personal endeavor. We at Asset Advisory Services part of this national
remain aware of this as we assist you in crafting a unique campaign, Jupiter Police
approach, tailored to fit your individual financial goals Department Officers will
and best suited to what is most important to you. We are be conducting additional
celebrating our fourth decade of providing the highest level enforcement throughout
of care to our clients. the entire month of April
in an effort to educate and
You may have a general goal in mind when it comes provide awareness to all motorists.
It is Tax Season! to retirement, but you need a specific plan for effective Administration (NHTSA), distracted driving is one of
According to the National Highway Traffic Safety
savings. Reassess your retirement planning goals annually
You should be looking at your taxes as and prioritize spending needs based on what will make the fastest growing safety issues on the roads today.
Distracted drivers aren’t just a threat to themselves;
you happy and comfortable. Create a budget for early,
part of Retirement Planning. middle and late retirement, taking into consideration they’re a danger to everyone else on the road. The national
different expenses for each stage. Don’t fool yourself that distracted driving effort focuses on ways to change the
Did you know that the average cost of life in retirement will be less expensive than now. Did behavior of drivers through legislation, enforcement,
healthcare for a couple in retirement you know that the average cost of health care for a couple public awareness, and education.
Texting is the most alarming distraction. Sending
is close to $300,000? Don’t you think in retirement is close to $300,000? Don’t you think that or reading a text takes your eyes off the road for five
health care and Long-term care is something to plan for?
that health care and long-term care is We are here to help! seconds. At 55 mph, that’s like driving the length of an
something to plan for? entire football field with your eyes closed.
With your help, we can ensure the safety of all drivers
We are here to help! who utilize our roadways.
Please continue to visit us on our website at www.jupiter.
Taxes don’t stop when your paycheck does. In fact, We look forward to hearing from you at: fl.us/jpd, and on Facebook @JupiterPolice to learn about
tapping your retirement nest egg comes with all sorts new and happening events within the town of Jupiter.
of new rules and opportunities. Saving money for your (561) 747-9550 Sincerely,
golden years is crucial. Without a solid nest egg, you’ll risk To schedule your Complimentary Financial Review Daniel J. Kerr,
struggling to pay the bills once your career ends.
Asset Advisory Services, Inc., Chief of Police
Most seniors need about 70% to 80% of their former Three Palms Center
income to live comfortably in retirement, and Social 2141 Alt. A1A South, Suite 310, Jupiter, FL 33477
Security may not be enough if you’re an average earner. As To learn more about what we can do for you, please visit us at: First Quarter New Moon
such, you’ll need to save independently during your golden www.AssetAdvisoryServices.com April 1 April 22
years, and the good news is that you have a number of tax-
advantaged retirement plans that we can help you with in Securities and Advisory Services Offered through Commonwealth Financial Network ® Full Moon First Quarter
order to guide you through accumulating wealth. If you are Member FINRA/SIPC, a Registered Investment Adviser. Fixed Insurance products and April 7 April 30
still working there are many options for retirement savings services offered through CES Insurance Agency Third Quarter
either at your workplace, on your own or possibly both. April 14