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Indian River County, Florida <br />Notes To Financial Statements <br />Year Ended September 30, 2018 <br />NOTE 3 - CASH AND INVESTMENTS - Continued <br />D. OPEB Trust Investments - Continued <br />As of September 30, 2018, the OPEB Trust had the following investments: <br />Investment Type <br />Fair Value <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 />$ 6,633,064 <br />5,989,895 <br />1,457,015 <br />725,081 <br />8,805,132 <br />2,929,649 <br />2,931,777 <br />Total Fair Value $ 29,471,613 <br />Weighted <br />Average <br />Maturity <br />in Years <br />N/A <br />N/A <br />N/A <br />N/A <br />2.20 <br />6.00 <br />0.13 <br />Portfolio <br />Percentage <br />22.51 % <br />20.32 <br />4.94 <br />2.46 <br />29.88 <br />9.94 <br />9.95 <br />100.00 % <br />The County has the following recurring fair value measurements for investments in the OPEB Trust as <br />of September 30, 2018: <br />Index funds <br />U.S. government securities funds <br />Money market fund <br />Total investments <br />Level 1 <br />Level 2 Level 3 Total <br />$ 14,805,055 $ <br />11,734,781 <br />2,931,777 <br />- $ 14,805,055 <br />11,734,781 <br />- 2,931,777 <br />$ 29,471,613 $ - $ $ 29,471,613 <br />Investments classified as Level 1 of the fair value hierarchy are valued using quoted prices in active <br />markets from the County's custodian bank. <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 2017-2018 fiscal year were levied in <br />October 2017. 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 />