1993-102 - Laserfiche WebLink

Home Browse Search

INDIAN RIVER COUNTY, FLORIDA NOTES TO FINANCIAL STATEMENTS - CONTINUED Year Ended September 30, 1992 1. Summary of Significant Accounting Policies - Continued: T. Total Columns on Combined Statements - overview - Total columns on the combined statements are captioned "Memorandum Only" to indicate that they are presented only to facilitate financial analysis. Data in these columns do not present financial position, results of operations, or cash flows in conformity with generally accepted accounting principles. Neither are such data comparable in a consolidation. Interfund eliminations have not been made in the aggregation of these data. 2. Cash and Investments$ The County maintains a cash and investment pool that is available for use by all funds except those whose cash and investments must be segregated due to bond cove- nants or other legal restrictions. Deposits - At September 30, 1992, the carrying amount of the County's deposits was $6,083,317 made up of demand deposits, certificates of deposit, money market accounts, savings accounts and petty cash. All deposits with financial institutions were 100% insured by federal depository insurance or by collateral pursuant to the Public Depository Security Act of the State of Florida. Various deposits were earning interest from 2.85-9.7%. Investments - Florida Statutes, the Board of County Commissioners' Investment Policy, and various bond covenants authorize investments in certificates of deposit, money market accounts, savings accounts, repurchase agreements, the Local Government Surplus Funds Trust Fund administered by the Florida State Board of Administration, obligations of the U.S. Government, and government agencies unconditionally guaran- teed by the U.S. Government. Money market accounts, savings accounts, and bank balances are reported as cash and cash equivalents above. The County invested in only these types of instruments during the fiscal year. B-25