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Indian River County, Florida <br />Notes To Financial Statements <br />Year Ended September 30, 2017 <br />NOTE 3 - CASH AND INVESTMENTS - Continued <br />C. Investments <br />As of September 30, 2017, the County had the following investments: <br />Investment <br />Fixed Rate Debt Instruments: <br />U.S. Treasuries <br />U. S. Agencies: * * * <br />Federal Farm Credit Bureau <br />Federal Home Loan Bank <br />Federal Home Loan Mortgage <br />Federal National Mortgage Assoc. <br />Other Market Rate Investments: <br />Florida Trust Short Term Bond Fund <br />Florida Trust Day to Day Fund <br />Florida Prime <br />FLCLASS <br />W&S Sinking Fund Reserve: <br />U.S. Treasuries <br />Total Fair Value <br />Weighted Average Maturity of Investments 0.92 <br />* Ratings based upon Standard and Poor's <br />* * AAAf credit quality, S-1 Market Volatility <br />* * * The weighted calculation considers the investments are carried until full maturity <br />(i.e. call dates are not considered). <br />Fair Value Measurement <br />The County categorizes its fair value measurements within the fair value hierarchy established by <br />generally accepted accounting principles. The hierarchy is based on the valuation inputs used to <br />measure the fair value of assets, as determined by the County's investment advisors. Level 1 inputs are <br />quoted prices in active markets for identical assets; Level 2 inputs are significant other observable <br />inputs; Level 3 inputs are significant unobservable inputs. <br />62 <br />Weighted <br />Average <br />Maturity <br />Portfolio <br />Credit <br />Fair Value <br />In Years <br />Percentage <br />Risks* <br />$ 82,724,813 <br />0.70 <br />35.87 % <br />N/A <br />23,918,187 <br />1.05 <br />10.37 <br />AA+ <br />48,822,753 <br />1.26 <br />21.17 <br />AA+ <br />45,842,853 <br />1.07 <br />19.88 <br />AA+ <br />10,947,847 <br />1.07 <br />4.75 <br />AA+ <br />13,922,060 <br />0.08 <br />6.04 <br />AAAf/S-1** <br />126,135 <br />0.08 <br />0.05 <br />AAAm <br />101,593 <br />0.08 <br />0.04 <br />AAAm <br />63,984 <br />0.08 <br />0.03 <br />AAAm <br />4,124,298 <br />1.24 <br />1.80 <br />N/A <br />$ 230,594,523 <br />100.00 % <br />Weighted Average Maturity of Investments 0.92 <br />* Ratings based upon Standard and Poor's <br />* * AAAf credit quality, S-1 Market Volatility <br />* * * The weighted calculation considers the investments are carried until full maturity <br />(i.e. call dates are not considered). <br />Fair Value Measurement <br />The County categorizes its fair value measurements within the fair value hierarchy established by <br />generally accepted accounting principles. The hierarchy is based on the valuation inputs used to <br />measure the fair value of assets, as determined by the County's investment advisors. Level 1 inputs are <br />quoted prices in active markets for identical assets; Level 2 inputs are significant other observable <br />inputs; Level 3 inputs are significant unobservable inputs. <br />62 <br />