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JEFFREY R. SMITH, CPA, CGFO, CGMA <br />Clerk of Circuit Court & Comptroller <br />Finance Department <br />1801 27h Street <br />Vero Beach, FL 32960 <br />Telephone: (772) 226-1945 <br />TO: Board of County Commissioners <br />FROM: Diane Bernardo, Finance Director1 \ <br />THRU: Jeffrey R. Smith, Clerk of the Circuit Court and Comptroller <br />DATE: July 25, 2014 <br />SUBJECT: Updated Investment Policy - one minor change <br />BACKGROUND <br />. 4A``OUNI cT). GG <br />..TT <br />�'a�.nw ►r <br />During the Investment Advisory Committee on July 24, 2014, one minor change was made to the <br />Investment Policy. <br />We are requesting the following sentence be added to our investment policy: <br />1. Page 4, Section VII — Performances Measures <br />"The portfolio will be marked to market with the average of three broker/dealer <br />valuations." <br />RECOMMENDATION <br />Staff recommends that the Board of County Commissioners accept the Investment Policy <br />change. Attached is a complete investment policy for reference. <br />Indian River County <br />ApprQqed Dat <br />Administrator <br />County Attorney <br />Bud et <br />1 <br />Department <br />Risk Management <br />97 <br />