tailieunhanh - REPORT NO. 2010-138 MARCH 2010 EDISON STATE COLLEGE _part4

Tháng 3 năm 2010 EDISON NHÀ NƯỚC CAO ĐẲNG Một ĐƠN VỊ THÀNH PHẦN CỦA NHÀ NƯỚC NOTES FLORIDA BÁO CÁO TÀI CHÍNH (TIẾP) ngày 30 tháng 6 năm 2009 BÁO CÁO KHÔNG. 2010-138 quỹ (quỹ cốt lõi ") sẽ có thời hạn phù hợp với sự cần thiết cho quỹ, nhưng không được vượt quá ba (3) năm. Trường có $ trong nghĩa vụ cơ quan liên bang đã nhúng vào tùy chọn bao gồm các tùy chọn theo ý của người phát hành để gọi nghĩa vụ của họ hoặc trả tiền một sự gia tăng quy định tại. | March 2010 report No. 2010-138 EDISON STATE COLLEGE A component unit of the state of FLORIDA notes to financial statements Continued June 30 2009 funds core funds shall have a term appropriate to the need for funds but should not exceed three 3 years. The College has 1 612 000 in Federal agency obligations that have embedded options consisting of the option at the discretion of the issuer to call their obligation or pay a stated increase in the interest rate. The security is callable only on April 1 2010. The College utilizes effective duration as a measurement of interest rate risk and as of June 30 2009 the Federal agency obligations had an effective duration of years. The College s investments in mutual funds at June 30 2009 do not have reported maturities. Credit Risk Credit risk is the risk that an issuer or other counterparty to an investment will not fulfill its obligations. The College s investment policy only allows for investments that are authorized pursuant to Section 16 Florida Statutes. The College s investments in Federal agency obligations at June 30 2009 were rated between AAAm and AAA by and Standard Poor s at June 30 2009. The College s investments in mutual funds at June 30 2009 were rated between Baa and Aaa by Moody s and Standard Poor s at June 30 2009. Custodial Credit Risk For an investment custodial credit risk is the risk that in the event of the failure of the counterparty the College will not be able to recover the value of its investments or collateral securities that are in the possession of an outside party. The College s investment policy pursuant to Section 18 Florida Statutes requires that securities with the exception of certificates of deposits shall be held with a third-party custodian and all securities purchased by and all collateral obtained by the College should be properly designated as an asset of the College. The securities must be held in an account separate and apart from the assets of the .