Florida Files

Board of County Commissioners, Okeechobee County — District 2

Frank DeCarlo

2025 Form 6 · annual filing (Commission on Ethics) · received 2026-05-20 · 5 pages (text)

Net worth$5,098,390
Income listed$941,085
Real estate$3,738,59013 properties
Debts listed$200,834
Worth a look0

Where listed income comes from

  • Other / unclassified 77% $727,500 · W2, DECARLO INVESTMENTS, AMERICAN DRILLING SERVICES, INC
  • Investments & retirement 9% $86,500 · INTEREST AND DIVIDENDS
  • Real estate 9% $84,050 · RENTAL, DECARLO PROPERTY MANAGEMENT, RENTAL, RENTAL, RENTAL, RENTAL
  • Government & public payroll 5% $43,035 · OKEECHOBEE COUNTY BOCC

Worth a look 0

Nothing stood out under the current rules.

Context 6

Context Unusual reporting

Lists 2 investment accounts ($264,895) instead of what's in them

The instructions say the investments held in a brokerage account or IRA are the assets to report — not the account itself. As listed, the public can't see what the filer is invested in.

What to check
  • Which companies or funds are in these accounts? Holdings matter for conflicts of interest.

Rule: Accounts listed instead of investments
“Note that the product contained in a brokerage account, IRA, or the Florida College Investment Plan, is your asset”2025 Form 6 instructions, Assets ✓ quoted from the saved instructions · how this rule works

Context Unusual reporting

Net worth $5,098,390; listed items add up to $5,057,288

Reported net worth: $5,098,390. Household goods + listed assets − listed liabilities = $5,057,288. They roughly agree.

What to check
  • No action needed unless other items look off.

Rule: Net worth vs. listed items
“Simply subtracting your liabilities from your assets will not result in an accurate net worth figure in most cases.”2025 Form 6 instructions, Net Worth ✓ quoted from the saved instructions · how this rule works

Context Income & business ties

64% of listed income ($600,000) comes from AMERICAN DRILLING SERVICES, INC

Listed income totals $941,085 from 11 sources. The largest is classed as other / unclassified.

What to check
  • Who is this source, and does it have business before the office sought?
  • If the filer owns it, check the business section and secondary income.

Rule: Where the money comes from
“List the name of each source of income that provided you with more than $1,000 of income during”2025 Form 6 instructions, Income ✓ quoted from the saved instructions · how this rule works

Context Income & business ties

Earns from 10 separate employers or businesses

Several distinct earned-income sources (excluding investments, retirement and Social Security).

What to check
  • Are any of these sources connected to each other or to the office sought?

Rule: Several earned-income sources

How this rule works

Context Wealth & holdings

Reports a net worth of $5,098,390 — a multimillionaire on paper

Net worth is the filer's own figure. Being wealthy isn't a problem; it's context for comparing candidates and for reading the rest of the form.

What to check
  • Compare with the other candidates in the race.
  • Check that the large assets below are described and valued clearly.

Rule: Net worth tier
“Report your net worth as of”2025 Form 6 instructions, Net Worth ✓ quoted from the saved instructions · how this rule works

Context Wealth & holdings

Real estate worth $3,738,590 across 13 properties (73% of net worth)

Real estate holdings, as listed.

What to check
  • Look the parcels up with the county property appraiser: land use (vacant or improved), assessed value and when they were bought.
  • Check whether any listed liability is a mortgage on these properties.

Rule: Real estate holdings
“Real property: Identify by providing the street address of the property.”2025 Form 6 instructions, Assets ✓ quoted from the saved instructions · how this rule works

Where to look next

These links open official public records, built from what the filer disclosed. They're searches you run yourself — results may include other people or companies with similar names.

Their filings

Their campaign

Businesses they disclosed

Other filings by Frank DeCarlo

FilingReceivedNet worthItems
2024 Form 6 — annual (Commission on Ethics)2025-06-20$5,013,899

Net worth

Net worth
As of
Household goods (lump sum)

Assets over $1,000 $5,193,122 listed

DescriptionValue

Liabilities over $1,000 $200,834 listed

CreditorAddressAmount

Joint and several liabilities not reported above

Reported as “N/A”.

Income $941,085 listed

Elected to attach federal tax return instead:

Primary sources

SourceAddressAmount

Secondary sources (major customers of businesses owned)

Reported as “N/A”.

Interests in specified businesses

Reported as “N/A”.

Signature

Signed by
Date
Filed with COE

Source

Document
Open PDF · original source
Retrieved
2026-10-07T22:55:45+00:00
SHA-256
0b5357c912387e5ee4d12a52e75c34a125e3d1aca9343882e1c8dd603dc26b7d
Pages
p1 form6 · p2 form6 · p3 form6 · p4 form6 · p5 form6
Extraction
parser v0.5.2; 0 value(s) below 80% confidence