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Indian River County, Florida <br />Notes To Financial Statements <br />Year Ended September 30, 2011 <br />NOTE 4 - CASH AND CASH EQUIVALENTS - Continued <br />D. OPEB Trust Investments - Continued <br />The contribution of $2.82 million for the year ended September 30, 2011 was invested in the various <br />funds listed below. As of September 30, 2011, the Indian River County OPEB Trust (IRCOT) had the <br />following investments: <br />Weighted <br />Average <br />Maturity Portfolio Credit <br />Investment Type Fair Value InYears Percentage Risks* <br />Short -Term Portion: <br />Fidelity Treasury Money Market $ 1,496,119 0.12 17.70 % AAAm <br />Long -Term Portion: <br />Vanguard 500 Index <br />1,552,052 <br />N/A <br />18.36 <br />N/A <br />Vanguard All World Ex -US <br />1,174,299 <br />N/A <br />13.89 <br />N/A <br />Vanguard Mid Cap Index <br />335,441 <br />N/A <br />3.97 <br />N/A <br />Vanguard Small Cap Index <br />164,898 <br />N/A <br />1.95 <br />N/A <br />Vanguard Short -Term Treasury <br />1,768,214 <br />2.60 <br />20.92 <br />AA+ <br />Vanguard Intermediate Treasury <br />1,230,290 <br />5.40 <br />14.56 <br />AA+ <br />Vanguard Prime Money Market <br />525,143 <br />0.16 <br />6.21 <br />A-1 <br />Vanguard Federal Money Market <br />205,544 <br />0.15 <br />2.44 <br />A-1 <br />Total Fair Value $ <br />8,452,000 <br />100.00 % <br />* Ratings based upon Standard and Poor's <br />NOTE 5 - PROPERTY TAX REVENUES <br />Taxable values for all property are established as of January 1, which is the date of lien, for the fiscal <br />year starting October 1. Property tax revenues recognized for the 2010-2011 fiscal year were levied in <br />October 2010. All taxes are due and payable on November 1 or as soon as the assessment roll is <br />certified and delivered to the Tax Collector. Discounts are allowed for early payment at the rate of 4% <br />in November, 3% in December, 2% in January, and 1% in February. Taxes paid in March are without <br />discount. All unpaid taxes become delinquent as of April 1. Virtually all unpaid taxes are collected via <br />the sale of tax certificates on or prior to June 1; therefore, there were no material taxes receivable at <br />fiscal year end. <br />65 <br />