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I. OVERVIEWAND PURPOSE <br /> This investment policy applies to all surplus monetary assets of Indian River County <br /> except 1.) debt proceeds, 2.) demand deposits covered by banking agreements, and 3.) <br /> monetary assets held by other entities on behalf of the County. <br /> Indian River County often has funds available in excess of those required to meet short- <br /> term expenses (surplus funds). It is in the best interest of the citizens of Indian River <br /> County that an investment policy be established to provide guidelines for the investment <br /> of those surplus funds in such a manner as to preserve the safety and liquidity of those <br /> funds and to provide a competitive return on investments consistent with proper <br /> safeguards for the handling of government funds. The investment policy must comply <br /> with all applicable State laws regarding investment of public monies. The purpose of this <br /> document is to provide the Clerk of the Circuit Court, who is responsible for the <br /> investment of County surplus funds, a set of procedures and guidelines for investment <br /> selection and monitoring of invested funds. Investment objectives, performance <br /> measurement, prudence and ethical standards, authorized investments, maturity and <br /> liquidity requirements, portfolio composition, risk and diversification, authorized <br /> investment institutions and dealers, third party custodial agreements, master repurchase <br /> agreements, bid requirements, internal controls, reporting and continuing education will <br /> be established by this investment policy and serve as the framework for all investment <br /> activities. <br /> IL. OBJECTI VES <br /> The primary objectives of investment activities carried out by the Clerk shall be the <br /> following in order of importance: <br /> 1. To preserve capital in the overall portfolio and to maintain the safety of principal; <br /> 2. To remain sufficiently liquid to meet disbursement requirements that might be <br /> reasonably anticipated; and <br /> 3. To manage the investment portfolio to provide a competitive return consistent <br /> with objectives in Items 1 and 2 and other risk limitations described in this policy. <br /> The highest priority of all investment activities shall be the safety of principal and <br /> liquidity of funds. The optimization of investment returns shall be secondary to the <br /> requirements for safety and liquidity. <br /> '"O. <br /> 1 <br /> 25 <br />