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JEFFREY R. SMITH CPA, CGFO, CGMA <br /> Clerk of Circuit Court&Comptroller / C� <br /> `"° <br /> Finance Department ' *> <br /> 1801 27th Street a <br /> Vero Beach,FL 32960 <br /> Telephone: (772)226-1945 <br /> Indian River County Investment Advisory Committee <br /> Quarterly Investment Report <br /> January 1,2015 through March 31, 2015 <br /> INVESTMENT POLICY <br /> In accordance with Section 218.415, Florida Statutes, the Board of County Commissioners adopted an <br /> Investment Policy to govern the investment of county funds by the Clerk of the Circuit Court. The Policy <br /> states the primary objectives of investment activities are to preserve capital and to provide sufficient <br /> liquidity to meet the cash flow needs of the county. Investment returns are secondary to the requirements <br /> for safety and liquidity. <br /> INVESTMENT ADVISORY COMMITTEE <br /> An Investment Advisory Committee meets quarterly to review the previous quarter's investment activities, <br /> evaluate current and future liquidity needs, recommend investment strategies. The Committee consists of <br /> the Clerk of the Circuit Court, Finance Director, Internal Auditor, Budget Director, and three qualified <br /> citizens with investment or financial management expertise. The individuals who have agreed to serve are: <br /> David W. Griffis, Senior Vice President with Northern Trust Bank of Florida; Ted Libby, Senior Portfolio <br /> Manager with Cypress Capital Group; Andy Beindorf, Market President of National Bank of Commerce. <br /> AUTHORIZED INVESTMENTS <br /> As permitted by the Investment Policy, funds were invested only in the following types of investments: <br /> Federal Farm Credit Banks bonds and discount notes(FFCB), <br /> Federal Home Loan Banks bonds and discount notes(FHLB), <br /> Federal Home Loan Mortgage Corporation bonds and discount notes(FHLMC), <br /> Federal National Mortgage Association bonds and discount notes(FNMA), <br /> Treasury Notes and Bills, <br /> State of Florida Local Government Surplus Funds Trust Fund(SBA)(for existing funds only), <br /> Florida Local Government Investment Trust(FLGIT), <br /> Other intergovernmental investment pool authorized pursuant to the Florida Interlocal Cooperation Act <br /> as provided in F.S. 163.01, <br /> Certificates of Deposit(CDs), <br /> Money Market Funds, <br /> Repurchase Agreements. <br /> BOND PROCEEDS INVESTMENT <br /> The current bond reserve is placed with Bank of New York/Mellon and is currently invested in short-term <br /> treasury bills and agencies. <br /> 29 <br />