Laserfiche WebLink
Z 7- <br /> JEFFREY R. SMITH <br /> (W <br /> Clerk of Circuit Court and Comptroller '`ZoRIOA <br /> 1801 27th Street, Building A <br /> Vero Beach, Florida 32960 Telephone (772) 226-1205 <br /> TO: Board of County Commissioners <br /> FROM: Jeffrey R. Smith, Clerk of the Circuit Court and Comptroll6vo- <br /> And <br /> Diane L. Bernardo, Finance Director <br /> DATE: July 26, 2013 <br /> SUBJECT: Quarterly Investment Report for Quarter Ending 06/30/2013 <br /> BACKGROUND <br /> (W Attached to this memorandum is the composition of the investment portfolio and investment <br /> earnings for the third quarter of this fiscal year. This report was reviewed by our investment <br /> advisory committee on July 25, 2013. <br /> SBA Update <br /> Fund B cash holdings are being distributed as they become available from maturities, sales, <br /> investment interest and other income received from the assets in Fund B. The investment <br /> objective of Fund B is to maximize the present value of distributions to participants. During the <br /> quarter$196,426 was withdrawn from Fund B. The balance in Fund B was $250,789 and has an <br /> estimated realization value of 112% ($280,498) as determined by the SBA financial advisors. <br /> RECOMMENDATION <br /> Staff recommends that the Board of County Commissioners accept the attached Quarterly <br /> Investment Report. <br /> Indian River County A roved Date <br /> Administrator <br /> County Attorne <br /> Budget (j <br /> (W Department <br /> Risk Management <br /> 59 <br />