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2014-029
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Last modified
3/13/2017 10:43:44 AM
Creation date
10/5/2015 9:48:33 AM
Metadata
Fields
Template:
Official Documents
Official Document Type
Report
Approved Date
03/18/2014
Control Number
2014-029
Agenda Item Number
8.B.
Entity Name
CAFR
Subject
Comprehensive Annual Financial Report
Fiscal Year 2012-2013
Alternate Name
CAFR
Supplemental fields
SmeadsoftID
13031
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Indian River County, Florida <br />Notes To Financial Statements <br />Year Ended September 30, 2013 <br />NOTE 4 - CASH AND CASH EQUIVALENTS - Continued <br />D. OPEB Trust Investments - Continued <br />The County approved a separate investment policy for the OPEB Trust assets on February 3, 2009 (last <br />amended on November 5, 2013). The County adopted a broadly diversified portfolio composition <br />consisting of equity, debt, and cash and cash equivalents. Asset allocations are divided between short- <br />term and long- term investments. Short-term asset allocations include cash and cash equivalents with <br />maturities of 180 days or less. Long-term asset allocations range from 0-60% for equities, 0-60% for <br />fixed income securities, and 0-100% for cash and cash equivalents. <br />The contribution of $2,965,251 for the year ended September 30, 2013 was invested in the various <br />funds listed below. As of September 30, 2013, the OPEB Trust had the following investments: <br />Investment Type <br />Short -Term Portion: <br />Weighted <br />Average <br />Maturity Portfolio Credit <br />Fair Value InYears Percentage Risks* <br />Fidelity Treasury Money Market $ 32,198 0.15 0.28 % AAAm <br />Long -Term Portion: <br />Vanguard 500 Index 2,556,906 N/A 22.10 N/A <br />Vanguard All World Ex -US 2,346,217 N/A 20.28 N/A <br />Vanguard Mid Cap Index 620,459 N/A 5.36 N/A <br />Vanguard Small Cap Index 316,318 N/A 2.72 N/A <br />Vanguard Short -Term Treasury 3,418,774 2.30 29.54 AA+ <br />Vanguard Intermediate Treasury 1,148,802 5.60 9.93 AA+ <br />Vanguard Prime Money Market 926,688 0.16 8.01 A-1 <br />Vanguard Federal Money Market 205,606 0.16 1.78 A-1 <br />Total Fair Value <br />$ 11,571,968 100.00 % <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 2012-2013 fiscal year were levied in <br />October 2012. 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 />67 <br />
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