Florida’s $8.8 Million Cabinet
Around the State
Florida’s three Cabinet members -- Chief Financial Officer Jeff Atwater, Attorney General Pam Bondi and Agriculture Commissioner Adam Putnam -- are worth a collective $8,846,996, according to recently filed financial disclosure reports.
The overall mark is slightly down from the prior year, 2010, with Putnam, the wealthiest, dropping $300,000. Bondi has the least but now is able to report an income, showing the largest single-year gain at $200,000.
The annual disclosure reports require descriptions of assets, liabilities topping $1,000 and for sources of income. But other than to say the source of the asset or liability, little disclosure is really required.
Putman, who has been the focus of recent reports for a 2005 deal in which the South Florida Water Management District paid $25.5 million for 2,042 acres of his family’s ranch, saw his net worth drop from $6.8 million in 2010 to $6.49 million last year.
In addition to earning $124,681 last year from his state job, Putnam drew $14,634 from his former job as a U.S. congressman, and $227,129 from the family-owned Putnam Groves Inc.
The majority of his assets are tied to Putnam Groves -- a 20.4 percent interest worth $2.6 million -- and savings and investments.
He also reported owing $120,142 to Bank of America.
Atwater saw his worth grow from $1.6 million in his final year as state Senate president to $1.68 million in his first year as the state’s top finance officer.
The majority of his assets are tied to investments with Northern Trust; he drew $121,226 from his state job. His liabilities included $35,978 to the Bank of America and $20,879 to the Bank of America Mortgage Co.
Bondi’s worth jumped from $472,696 in 2010, while a candidate for state office, to $673,777.81 in her first year as attorney general.
Unlike in 2010 when she listed no income, she reported earning $123,139.05 for her work for the state.
Bondi recorded the most expensive home among the three Cabinet members, putting her Tampa area home’s appraised value at $635,400. She also reported owing the Suncoast Schools Federal Credit Union just over $311,000 and Valrico State Bank $20,134.
Atwater listed his North Palm Beach residence at $285,000. Putnam reported his home in Bartow at $174,000.
Meanwhile, Gov. Rick Scott, who is reportedly taking only $1 a year to reside in the governor’s mansion, is down to just $83 million. The worth total for the former health-care executive is a vast drop since he pumped $70 million into his 2010 campaign at a time when his net worth was $218 million.
Scott recorded earning $26 million from investments in 2011, with his beachfront home in Naples valued at nearly $9 million. Scott also has set aside $71.5 million into a blind trust while serving Florida.
Reach Jim Turner at email@example.com or at (772) 215-9889.