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JEFFREY R. SMITH, CPA, CGFO, CGMA <br />Clerk of Circuit Court & Comptroller <br />Finance Department <br />1801 27th Street <br />Vero Beach FL 32960 <br />Telephone (772) 226-1945 <br />TO: <br />FROM: <br />THRU: <br />DATE <br />Board of County Commissioners <br />Diane Bernardo, Finance Director <br />•iVcrJeffrey R. Smith, Clerk of the Circuit Court and Comptrol e <br />January 24, 2014 <br />SUBJECT: Quarterly Investment Report for Quarter Ending 12/31/2013 <br />BACKGROUND <br />Attached to this memorandum is the composition of the investment portfolio and investment <br />earnings for the first quarter of this fiscal year This report was reviewed by our investment <br />advisory committee on January 21, 2014. <br />SBA Update <br />Fund B cash holdings are being distributed as they become available from maturities, sales, <br />investment interest and other income received from the assets in Fund B The investment <br />objective of Fund B is to maximize the present value of distributions to participants During the <br />quarter $48,514 was withdrawn from Fund B The balance in Fund B was $179,708 and has an <br />estimated realization value of 121% ($217,560) as determined by the SBA financial advisors. <br />RECOMMENDATION <br />Staff recommends that the Board of County Commissioners accept the attached Quarterly <br />Investment Report. <br />26 <br />Indian River County <br />Ap.roved <br />Date <br />Administrator <br />1/30/11 <br />at <br />County Attorney <br />Budget <br />1.01 14 <br />Department <br />Risk Management <br />26 <br />