FY2016 CCDOA Financial Report as of 6302016.pdf - page 64

CLARK COUNTY DEPARTMENT OF AVIATION
CLARK COUNTY, NEVADA
Notes to Financial Statements
For the Fiscal Years Ended June 30, 2016 and 2015
51
Nevada Revised Statutes ("NRS") do not specifically require collateral for demand and time deposits,
but do specify that collateral for time deposits may be of the same type as that described for
permissible State investments. Permissible State investments are similar to allowable County investments
described below except that some State investments are longer term and include securities issued by
municipalities outside the State of Nevada.
Due to the nature of the investment pool, it is not possible to separately identify any specific investment
as being that of the Department. Instead, the Department owns a proportionate share of each
investment, based on the Department’s participation percentage in the investment pool. Once a year,
the County records the investments in the Treasurer Investment Pool at market and then apportions the
corresponding adjustment to the various participants for the year. The Department's apportioned share
of the fair value adjustment made at year end was $7.2 million. The Department's share of the
investments held in the investment pool as of June 30, 2016, was $651.0 million; the respective
allocation percentages of the investments held in the investment pool are provided in the table below.
Investment Type
Fair Value Less than 1
1 to 3
3 to 5
5 to 10
U.S. Treasury Obligations
34.3%
3.0%
51.0%
46.0%
0.0%
U.S. Agency Obligations
35.1%
14.8%
55.4%
29.8%
0.0%
Corporate Obligations
17.9%
35.8%
59.2%
5.0%
0.0%
Money Market Funds
0.3%
100.0%
0.0%
0.0%
0.0%
Commercial Paper
2.5%
100.0%
0.0%
0.0%
0.0%
Negotiable Certificates of Deposit
1.2%
100.0%
0.0%
0.0%
0.0%
Collateralized Mortgage Obligations
0.6%
0.0%
50.9%
27.5%
21.6%
Asset Backed Securities
3.0%
1.0%
12.5%
79.8%
6.7%
NV Local Government Investment Pool
0.8%
100.0%
0.0%
0.0%
0.0%
Repurchase Agreements
4.3%
100.0%
0.0%
0.0%
0.0%
100.0%
25.3%
47.5%
26.7%
0.5%
Percentage Share of
Investment Maturities (in years)
As of June 30, 2015, the $558.5 million of the Department's investments held in the investment pool were
allocated as indicated in the table below.
Investment Type
Fair Value Less than 1
1 to 3
3 to 5
5 to 10
U.S. Treasury Obligations
28.3%
4.9%
55.3%
39.8%
0.0%
U.S. Agency Obligations
42.9%
31.6%
42.5%
25.9%
0.0%
Corporate Obligations
15.0%
17.2%
68.7%
14.1%
0.0%
Money Market Funds
0.2%
100.0%
0.0%
0.0%
0.0%
Commercial Paper
10.0%
100.0%
0.0%
0.0%
0.0%
Collateralized Mortgage Obligations
0.6%
0.2%
36.6%
24.9%
38.3%
Asset Backed Securities
3.0%
0.0%
15.9%
55.0%
29.1%
100.0%
27.7%
44.9%
26.3%
1.1%
Percentage Share of
Investment Maturities (in years)
1...,54,55,56,57,58,59,60,61,62,63 65,66,67,68,69,70,71,72,73,74,...169
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