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JEFFREY R. SMITH <br /> s s <br /> Clerk of Circuit Court and Comptroller t� <br /> 1801 27th Street, Building A <br /> Vero Beach, Florida 32960 Telephone (772) 226- 1205 <br /> TO: Board of County Commissioners <br /> FROM: Jeffrey R. Smith, Clerk of the Circuit Court and Comptroller. <br /> And <br /> Diane L. Bernardo, Finance Director <br /> DATE: October 18, 2013 <br /> SUBJECT: Quarterly Investment Report for Quarter Ending 09/30/2013 <br /> BACKGROUND <br /> Attached to this memorandum is the composition of the investment portfolio and investment <br /> earnings for the fourth quarter of this fiscal year. This report was reviewed by our investment <br /> advisory committee on October 17, 2013. <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 quarter$22,567 was withdrawn from Fund B. The balance in Fund B was $228,222 and has an <br /> estimated realization value of 113% ($258,489) 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 Apgwved Date <br /> Administrator <br /> County Attorne <br /> Budget <br /> Department <br /> Risk Mana ement <br /> 34 <br />