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Indian River County, Florida <br />Notes To Financial Statements <br />Year Ended September 30, 2016 <br />NOTE 3 - CASH AND INVESTMENTS - Continued <br />D. <br />OPEB Trust Investments - Continued <br />As of September 30, 2016, the OPEB Trust had the following investments: <br />Investment Type <br />Fair Value <br />Weighted <br />Average <br />Maturity Portfolio <br />in Years Percentage <br />Vanguard 500 Index <br />Vanguard All World Ex -US <br />Vanguard Mid Cap Index <br />Vanguard Small Cap Index <br />Vanguard Short -Term Treasury <br />Vanguard Intermediate Treasury <br />Vanguard Prime Money Market <br />Vanguard Federal Money Market <br />Total Fair Value <br />5,086,893 <br />4,517,800 <br />1,124,120 <br />560,448 <br />6,734,605 <br />2,243,094 <br />2,028,784 <br />206,111 <br />$ 22,501,855 <br />N/A <br />N/A <br />N/A <br />N/A <br />2.30 <br />5.60 <br />0.14 <br />0.15 <br />22.60 % <br />20.08 <br />4.99 <br />2.49 <br />29.93 <br />9.97 <br />9.02 <br />0.92 <br />100 % <br />The County has the following recurring fair value measurements for investments in the OPEB Trust as <br />of September 30, 2016: <br />Index funds <br />U.S. government securities funds <br />Money market fund <br />Total investments <br />Level 1 <br />$ 11,289,261 $ <br />9,183,810 <br />2,028,784 <br />evel 2 <br />Level 3 <br />Total <br />11,289,261 <br />9,183,810 <br />2,028,784 <br />$ 22,501,855 $ <br />22,501,855 <br />NOTE 4 - 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 2015-2016 fiscal year were levied in <br />October 2015. 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 />66 <br />