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JEFFREY R. SMITH, <br />Clerk of Circuit Court & Comptroller <br />Finance Department <br />180127"' Street <br />Vero Beach, FL 32960 <br />Telephone: (772) 226-1945 <br />CPA, CGFO, CGMA <br />TO: Board of County Commissioners <br />FROM: Diane Bernardo, Finance Director << <br />THRU: Jeffrey R. Smith, Clerk of the Circuit Court and Comptroller '�7 <br />DATE: July 25, 2014 <br />SUBJECT: Quarterly Investment Report for Quarter Ending 06/30/2014 <br />BACKGROUND <br />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 24, 2014. <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quarter $103,139 was withdrawn from Fund B. The balance in Fund B was $58,359 and has an <br />estimated realization value of 184% ($107,635) 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 ApproXed Date <br />Administrator <br />County Attorney <br />Bud et <br />Department <br />Risk Management <br />81 <br />