Laserfiche WebLink
Indian River County, Florida <br />NOTES TO FINANCIAL STATEMENTS - Continued <br />Year Ended September 30, 1995 <br />NOTE 2 - CASH AND INVESTMENTS - Continued <br />B. Investments - Continued <br />The Florida Counties Investment Trust Fund is similar to a mutual fund in that funds are available on a <br />same day basis. As of September 30, 1995, the Florida Counties Investment Trust Fund had 22 local <br />government participants with total investments of approximately $215 million. The portfolio's average <br />maturity was 2.5 years. <br />Upon issuance of the Water and Sewer Bonds, Series 1993A and Series 19938, the County invested the <br />required sinking reserve monies, $3,139,285, in a guaranteed investment contract. This contract is for <br />the life of the bonds and has a rate of earnings slightly less than the arbitrage yield of the bonds. <br />Schedule of Investments at September 30, 1995 <br />Carrying Market <br />Amount Value <br />U.S. Treasury Securities $ 4,234,473 $ 4,224,058 <br />U.S. Government Agency Securities 35,878,916 34,581,689 <br />Guaranteed Investment Contract 3,139,285 3,139,285 <br />Money Market Account 13,466,096 13,466,096 <br />Local Government Surplus Funds Trust Fund 20,483,179 20,483,179 <br />Florida Counties Investment Trust Fund 5,,000.000 5.009.142 <br />Total Investments $ 82-2 $ 80.90 •449 <br />30 <br />