The City of Palm Coast Finance Department has released its latest so-called “Popular Annual Financial Report” (PAFR), offering residents a clear, accessible, and transparent look at the city’s financial position and operations.
Designed with the community in mind, the report presents key financial information in an easy-to-understand format, highlighting where revenues come from, how funds are allocated, and summarizing the city’s overall financial health. The report is a scaled-down version of the city’s annual financial audit, a 199-page document, and its extensive budget book, a 330-page document. The “Popular” booklet clocks in at 20 pages, frills included.
Some highlights: property taxes generated $42.2 million in 2025, up from $37.8 million the year before. Unassigned general fund reserves stood at $24 million. Counting its utility and other funds that charge for their own services, the city generated $276 million in total revenue, up from $242 million the year before. The city’s total debt was $163.4 million, most of it to finance the utility system. Because it hasn’t happened yet, the figure does not include coming debt from a bond issue and a bond refinancing that will push that figure beyond the $600 million mark next year. In that sense, the booklet includes what is now an outdated chart that projects debt payments falling sharply over the next two decades.
The booklet notes last year’s utility rate increase, which will add up to 31 percent over three years (the booklet notes just the first of those increases, at 8 percent). The city’s bond rating is currently AA.
The city’s commitment to transparency continues to be recognized at the national level, having earned the Popular Annual Financial Report Award from the Government Finance Officers Association (GFOA) for twelve consecutive years. The city applies for the award annually, a city release states.
This report also coincides with the city’s most recent independent financial audit, which resulted in a clean opinion.
“Our goal is to make it easy for our residents to see exactly how their City’s finances operate,” said Finance Director Helena Alves. “We are proud to provide clear, accurate, and accessible financial information, and we encourage everyone to take a look.”
In addition to the PAFR, the City offers a wide range of financial resources online, including its Financial Transparency Dashboard. Users can explore revenue streams, expenditures, and budget allocations, with historical data available from Fiscal Year 2023 to present and updated weekly to ensure the most current information is always available.
Residents are encouraged to explore the PAFR and the city’s full suite of financial tools by visiting the City of Palm Coast website: https://www.palmcoast.gov/finance
Atwp says
Wow.
Deborah Coffey says
Enough said: https://palmcoastreport.com/2026/03/30/the-commission-says-its-conservative-with-taxpayer-money-the-record-says-otherwise/
Anti R says
Rapeublicans are pathetic. They defund elementary schools but have helicopter money for police, cut food assistance but add drones for surveillance, cut healthcare assistance and build billion dollar concentration camps. End GOP Terror!!!