Distrito Escolar del - Osceola County School District

3. INVESTMENTS
As of June 30, 2012, the District has the following investments and maturities:
Investment Maturities Fair Value
State Board of Administration (SBA):
Florida PRIME (1) 38 Day Average $ 2,238,923
Fund B Surplus Funds Trust Fund (Fund B)(2) 5.73 Year Average 983,117
Debt Service Accounts 6 Months 285,075
PFM Funds Money Market Fund (1) 47 Day Average 8,233,551
First American Money Market Fund (1)(3) 38 Day Average 78
Florida Education Investment Trust Fund (1) 7 Day Average 24,063,557
US Treasury Bonds 1.85 Year Average 28,189,022
Federal Agency Bonds 1.85 Year Average 56,008,457
Certificate of Deposit 1 Year Average 20,000,000
Certificate of Deposit (1) 90 Day Average 25,026,250
Total Investments $ 165,028,030
Notes:
(1) Investments classified as cash equivalents
(2) Includes $87,905, which is being held under a trust agreement in connection with the
Certificates of Participation, Series 2002A.
(3) Amount is being held under trust agreements in connection with various Certificate of
Participation issues.
Interest Rate Risk
‣ The District’s investment policy limits investments to a maximum of five years and the investment of
current operating funds to no longer than two years.
‣ Florida PRIME had a weighted average days to maturity (WAM) of 38 days at June 30, 2012. A
portfolio’s WAM reflects the average maturity in days based on final maturity or reset date, in the
case of floating rate instruments. WAM measures the sensitivity of the portfolio to interest rate
changes. Fund B had a weighted average life (WAL) of 5.73 years. A portfolio’s WAL is the dollar
weighted average length of time until securities held reach maturity. WAL, which also measures the
sensitivity of the portfolio to interest rate changes, is based on legal final maturity dates for Fund B as
of June 30, 2012. However, because Fund B consists of restructured or defaulted securities there is
considerable uncertainty regarding the WAL.
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