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The secondary objective is to obtain competitive returns on the investment of County surplus funds. During FY 2011, County investments had yields ranging from 0.10% to 3.15%. The overall annual yield of the portfolio as of September 30, 2011 was 0.60%. On September 23, 2008, the County established the OPEB (Other Post -Employment Benefits) Trust. An OPEB investment policy was approved by the Board of County Commissioners on February 3, 2009 and revised on May 12, 2009. The objective was to establish an advisory committee and to provide short- term and long-term investment guidelines. This policy also outlines the same criteria as noted in the County's investment policy, as well as including performance measures. The net cash contribution to the OPEB Trust for the fiscal year was $1.5 million. In addition, interest, dividend and mark -to -market adjustments resulted in a loss of $84,217. Yields ranged from -21.23% to 25.74% throughout the year. Maior Initiatives In response to the critical erosion of several areas of County beaches, the Board of County Commissioners approved the Comprehensive Beach Preservation Plan (BPP) in 1999. The BPP provides for renourishment of these areas and is periodically updated to identify changing beach conditions. On February 3, 2009, the Board of County Commissioners voted to approve the 2008 Beach Preservation Plan which presents an overall strategy to protect and nourish the current status of critically eroded beaches within Indian River County. The plan also presents probable costs and prioritizes means for funding the implementation of the BPP. Since the implementation of the BPP, approximately 5 miles of beach have been renourished. A large scale beach nourishment of Sector 3 is currently underway. This project consists of placing approximately 586,000 cubic yards of dump truck hauled upland beach sand onto approximately 6.6 miles of County beaches. Total costs for design, construction and monitoring are estimated at approximately $15 million, of which, $3.9 million was spent in FY 2011. Funding will be from the Beach Preservation Fund, a portion of local option tourist tax revenue, and the one -cent sales tax. State and federal grants as well as an inter -local agreement with the Sebastian Inlet Taxing District will provide additional funding for this project. Indian River County is pleased to announce the following public construction/improvement projects: 1. Phase one installation of the new GoLine bus shelters is complete. These shelters have been a longstanding priority of the Indian River County MPO and our community transportation coordinator, the Senior Resource Association. A Department of Transportation grant funded the project. The shelter design can withstand 140+ mile per hour winds, is free of advertising and easy to maintain. The phase one locations include the following sites: ■ Park 24 — Indian River Boulevard ■ Indian River Medical Center ■ 6th Avenue and 8th Street ■ 27th Street — 777 Medical Building ■ Fellsmere Medical Center — County Road 512 Phase two of the project will begin in FY 2012 with the following anticipated shelter sites: ■ Main Street and Powerline Road — Sebastian ■ Oslo Road — Treasure Coast Health & Fire Station #4 ■ Indian River Charter High School — College Lane ■ 49th Street — Gifford Youth Activity Center ■ Willow Street Sunrise Villas — Fellsmere ■ Driedon Avenue — Sebastian u