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COMPREHENSIVE ANNUAL FINANCIAL REPORT
ESCAMBIA COUNTY, FLORIDA 
NOTES TO COMBINED FINANCIAL STATEMENTS (CONTINUED) 
SEPTEMBER 30, 2011 
49 
NOTE 3 – DETAIL NOTES ON ALL FUNDS  
A.
Assets 
Deposits‐Cash and Cash Equivalents 
As of September 30, 2011, the carrying value of the County’s bank deposit accounts was $59,103,557.  The 
County’s cash deposits are held by banks that qualify as a public depository under the Florida Security for Public 
Deposits Act as required by Chapter 280, Florida Statutes.   
Investment Portfolio
Investment holdings detailed in the table below are reported at fair value in accordance with GASB Statement No. 
31, “Accounting and Financial Reporting for Certain Investments and for External Investment Pools.”   
Weighted 
Fair
Average
Investment Type
Value
Maturity (years)
Certificates of Deposit
$21,000,000
0.70
Federated Government Obligation Money Market Fund*
427,982
0.12
Florida Prime (SBA) Money Market Fund**
15,017,845
0.10
US Treasury Bond / Note
30,486,954
2.10
Federal Agency Bond / Note
64,917,410
2.52
Corporate Notes
11,038,064
2.04
Commercial Paper
4,998,645
0.11
Municipal Bond / Note
1,065,262
2.95
     Total Deposits and Investments
$148,952,162
*Federal Government Obligation Money Market Fund's fact sheet as of September 30, 2011
  provided the weighted average maturity.
**Florida Prime (SBA)'s 09/30/2011 Monthly Summary Report available on the website
    https://www.sbafla.com/prime/, is the source of the Fund's weighted average maturity.
Interest Rate Risk 
To the extent possible, an attempt is made to match investment maturities with known cash needs and anticipated 
cash flow requirements.  For operating funds, investment maturities are matched with known cash needs and 
anticipated cash flow requirements.  Investments of current operating funds shall have maturities of no longer 
than twelve (12) months.  For core funds, investments of reserves, project funds, debt proceeds and other non‐
operating funds shall have a term appropriate to the need for funds and in accordance with debt covenants, but in 
no event shall exceed five (5) years and the average duration of the funds as a whole may not exceed three (3) 
years. 
The County utilizes “weighted average duration” as a measurement of interest rate risk and as of September 30, 
2011, the investments had a weighted average duration of 1.82 years.