Neunder the only board member with 2022 net worth below $1 million
Sarasota County Commission Chair Ron Cutsinger of Englewood has the highest net worth of the current board members, as shown in the documents they were required to file for 2022 with the Florida Commission on Ethics.
The last commissioner to turn in his report this year, Cutsinger noted that his net worth as of Aug. 28 was $3,475,477.
In his report for 2021, Cutsinger cited a total of $2,017,033; that was as of July 1, 2022.
The aggregate value of his household goods and personal effects as of Aug. 28 was $75,000, he added in the latest document.
The form explains that such items include jewelry, stamp collections, artwork, household equipment and furnishings, guns, clothing, and vehicles for personal use — either owned or leased — as long as they are not held for investment purposes.
Cutsinger has worked as a financial adviser for nearly 30 years, his county website biography says. He is the owner and managing director of Waypoint Wealth Management, “a full-service financial services firm,” the biography adds.
The commissioner in second place this time is Neil Rainford, whom Gov. Ron DeSantis appointed to the board in June to replace the late Commissioner Nancy Detert, who passed away in early April. Rainford wrote that his net worth as of July 1 was $1,513,875.48.
In his LinkedIn account, Rainford says he has been a senior project executive with Mullet’s Aluminum Products in Sarasota since July 2019. He was a project executive with the company for six years and seven months prior to that, the account adds.
As for the value of his household goods and personal effects, Rainford put $108,000.
The only board member to list net worth below $1 million was Commissioner Joe Neunder of North Venice. He noted a total of $619,914.50 as of June 26. Neunder is a chiropractor.
In his report, Neunder cited the value of his household goods and personal effects as $1,221,108.50.
Commissioner Mark Smith of Siesta Key, an architect whose eponymous firm is located in Siesta Village, reported a net worth of $1,418,673 as of Dec. 31, 2022.
Smith wrote that the aggregate value of his household goods and personal effects was $75,000.
Finally, Commissioner Michael Moran noted his net worth as of April 1 was $1,066,223.87. Moran also is the executive director of the Florida PACE Funding Agency, which provides loans to property owners wishing to make improvements to their residences. The program requires the homeowners to pay back those loans through annual assessments on their county property tax bills.
Moran put the aggregate value of his household goods and personal effects at $250,000.
Along with details of their finances, every board members except Rainford checked the box attesting to the fact that he had “completed the required training under Section 112.3142” of the Florida Statutes.
Because of his short term on the commission prior to the filing date for the form, Rainford was exempt from marking that box.
On its website, the Florida Commission on Ethics explains, “Pursuant to Section 112.3142, Florida Statutes, Florida’s Constitutional officers (including the Governor, Lieutenant Governor, Attorney General, Chief Financial Officer, Commissioner of Agriculture, state attorneys, public defenders, sheriffs, tax collectors, property appraisers, supervisors of elections, clerks of the circuit court, county commissioners, district school board members, and superintendents of schools), elected municipal officers, and commissioners of a community redevelopment agency (created under Part III of chapter 163) are required to ‘complete 4 hours of ethics training each calendar year which addresses, at a minimum, [Section] 8, [Article] II of the State Constitution, the Code of Ethics for Public Officers and Employees, and the public records and public meetings laws of this state.” It adds, “Officials should complete the required training as close as possible to the date they assume office. A newly-elected official who assumes a new office on or before March 31 must complete the annual training on or before December 31 of that year. However, if the individual takes office after March 31, he or she is not required to complete the training until the next calendar year.”
Article II of Section 8 of the state Constitution points out, “A public office is a public trust. The people shall have the right to secure and sustain that trust against abuse.”
Details in Cutsinger’s report
In the document he filed — designated a “Form 6” — Cutsinger listed a number of assets valued above $1,000. The group with the highest total was real estate: $3,544,000.
His Waypoint Professional Center office and house are valued at $624,000, he noted.
The other real estate assets cited are as follows: a house standing at 1850 Keyway Road in Englewood, $2.3 million; a vacant 1.5-acre lot on Manasota Beach Road — $210,000; and two other vacant parcels with a combined value of $270,000.
Further, Cutsinger listed the following assets:
- His Waypoint Wealth Management account, $150,000.
- A Truist Bank account with $24,176.
- A National Financial Services account with $10,979.
- His Florida State Retirement System Investment Plan, $32,162.
- A Wells Fargo Bank account, $2,160.
As for liabilities, Cutsinger cited a $250,000 mortgage; $100,000 owed to Ralph Harding of Sarasota; and $13,000 owed to Achieve Credit Union in Dunedin.
His sources of income, as documented, are as follows:
- Waypoint Wealth Management, $150,100.
- His County Commission salary, $93,058.
- Social Security, $22,802.
- Rental income from the house he listed as his office as well as his residence, $29,400.
In his Form 6 document, Rainford listed his salary from Mullet’s as $207,658.05. He also noted seven assets valued at more than $1,000:
- His residence on Deer Prairie Drive in the eastern part of the county, $1,275,000. (In late August, Sarasota County Property Appraiser’s Office records show, Rainford and his wife, Amy, bought a house in Nokomis for $547,000. State election regulations require a candidate for County Commission to be a resident for at least six months of the district whose seat the candidate is seeking. Rainford’s new house is in District 3, which is the seat to which he was appointed. His Deer Prairie Drive home is in District 1.)
- His retirement account, $64,994.03.
- A Regions Bank account, $25,002.10.
- A TD Ameritrade account, $74,879.35.
- A 2020 Land Rover Range Rover, $60,500.
- A 1991 Suzuki Carry, $8,000.
- A 2021 Bigfoot Trailer, $5,500.
His liabilities are as follows:
- New American Funding in Tustin, Calif., which handles mortgages, $611,239.26.
- Grow Financial Credit Union in Tampa, $50,511.26.
In his Form 6 filing, Smith listed his assets as follows:
- His Siesta residence, $1.3 million.
- A 2019 Jeep Wrangler, $27,000.
- Bank of America accounts, $14,290.
- A Schwab investment account, $177,726.
- Raymond James IRA accounts, $67,645.
- His business, Smith Architects, and associated equipment, $75,000.
His liabilities were as follows:
- Nationstar Mortgage of Coppell, Texas, $312,613.
- A Bank of America VISA account, $5,375.
He put his income from his business at $34,375 and his County Commission pay as of Dec. 31, 2022 as $7,111. He joined the board in late November 2022.
Moran’s document details
Moran listed seven individual assets valued above $1,000:
- His Sarasota home, $1,060,000.
- Burial plots in Venice Memorial Gardens, $65,000.
- A Chase Bank account, $17,747.66.
- A Fidelity Investments account, $35,194.95.
- A 2020 Land Rover Range Rover, $59,687.
- A 2019 Lexus GX 460, $44,407.75.
- A 2020 Chevy Camaro, $30,728.70.
The only liability he noted was a Citizens Bank mortgage: $496,542.19.
For his two primary sources of income, Moran reported $185,000 from the Florida PACE Funding Agency and his commission salary, $99,508.
As a secondary source of income, Moran listed Blue Water Insurance Group in Sarasota, but he did not provide the amount of income, as the document did not require that.
Neunder’s financial details
In his Form 6 filing, Neunder listed five assets as follows:
- His 401K retirement account, $185,187.83.
- His house, $787,300.
- His vehicles — with no details about makes or models — $42,000.
- His household goods, $185,000.
- His personal checking and savings accounts, $21,620.78.
For liabilities, Neunder noted the U.S. Department of Education in Washington, D.C., $353,188; and Flagstar Mortgage in Sarasota, $248,006.03.
He reported $107,205 as income from his chiropractic practice, which is located on Beneva Road in Sarasota, and $59,932.34 as his county pay as of the late June date he specified on the form.