Laserfiche WebLink
TO: THE HONORABLE BOARD OF COUNTY COMMISSIONERS <br />DATE: AUGUST 28, 2002 <br />SUBJECT: INVESTMENT REPORT <br />FROM: JEFFREY K. BARTON, CLERK OF THE CIRCUIT COURT C <br />BACKGROUND <br />The Investment Advisory Committee met to review the investment activities conducted by the <br />Clerk's Finance Department for the quarter starting April 1, 2002 and ending June 30, 2002. <br />Attached to this memorandum is the Investment Committee Report for the investment activities of <br />the Clerk's Finance Department for April 1, 2002 through June 30, 2002. Additional information <br />concerning the composition of the investment portfolio and investment earnings is included as part <br />of the report <br />• <br />During the Investment Advisory Committee meeting, a discussion ensued concerning the benchmark <br />in the Investment Policy. The current benchmark is the 91 day T -Bill. The Investment Advisory <br />Committee decided that a one year benchmark would be more appropriate and is recommending that <br />the benchmark be changed to the one year Treasury. <br />RECOMMENDATION <br />Amend the Investment Policy to change the benchmark from the 91 day T-bill bond equivalent yield <br />to the one year Treasury bond equivalent yield. <br />Clerk of Circuit Court Jeffrey K. Barton reviewed the above memorandum and <br />requested the Board to amend the Investment Policy by changing the benchmark from the <br />91 -day T-bill bond equivalent yield to the one-year Treasury bond equivalent yield as <br />recommended by the Investment Advisory Committee. <br />ON MOTION by Commissioner Adams, SECONDED BY <br />Commissioner Ginn, the Board unanimously amended the <br />Investment Policy to change the benchmark from the 91 -day T- <br />bill bond equivalent yield to the one-year Treasury bond <br />equivalent yield, as recommended by the Investment Advisory <br />Committee. <br />September 3, 2002 <br />54 <br />ER <br />