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In accordance with the Florida Statutes, the County adopted <br />investment policies which guides the investment of County <br />funds. These policies establish investment objectives, <br />maturity and liquidity requirements, portfolio composition, <br />risk and diversification requirements, and authorized <br />investments. The primary objectives of investment activities <br />are to preserve capital and maintain sufficient liquidity to <br />meet anticipated cash flow needs. <br />Cash reported on the financial statements includes bank <br />deposits, cash on hand, certificates of deposit, money <br />market accounts, and all highly liquid investments with <br />maturities of ninety days or less when purchased. <br />Investments consist of U.S. Treasury Securities, U.S. <br />Government Agency Securities, money market funds, <br />certificates of deposit, Florida PRIME Fund, the Florida Trust <br />Day to Day Fund, and the Florida Local Government <br />Investment Trust Fund (FLGIT). <br />The Clerk invests the surplus funds in accordance with the <br />policy guidelines and earned $2.1 million in interest income <br />in fiscal year 2016. As of September 30, 2016, the County's <br />investment portfolio was invested in the categories listed in <br />the chart below. The fair market value of the investments <br />was $339.9 million and the weighted average maturity was <br />0.90 years. <br />Cash $139,739,705 41.1% <br />U.S. Agencies 101,545,376 29.9% <br />U.S. Treasuries 86,146,484 25.3% <br />Florida Local Government 12,467,718 3.7% <br />Investment Trust Fund (FLGIT) <br />$415.9 <br />2007 <br />Ball fields at the North County Regional Park <br />Photo courtesy of IndianRiverByAir.com <br />Cash and Investment Balances <br />(in millions as of September 30) <br />$332.3 $309.9 $320.5 $324.4 $317.2 $319.2 <br />2008 2009 <br />2010 2011 2012 <br />FLGIT, 3.7% <br />$317.9 <br />2013 <br />2014 <br />$325.5 <br />$339.9 <br />2015 <br />2016 <br />