FY2016 CCDOA Financial Report as of 6302016.pdf - page 66

CLARK COUNTY DEPARTMENT OF AVIATION
CLARK COUNTY, NEVADA
Notes to Financial Statements
For the Fiscal Years Ended June 30, 2016 and 2015
53
Moody's
S&P
U.S. Treasury Obligations
Aaa
AA+
U.S. Agency Callables
Aaa
AA+
U.S. Agency Non Callables
Aaa
AA+
U.S. Agency Discounts
P-1
A-1+
Corporate Obligations
A3
A-
Money Market Funds
Aaa
AAA
Commercial Paper Discount
P-1
A-1
Certificates of Deposit
P-1
A-1+
Collateralized Mortgage Obligations
Aaa
AA+
Asset Backed Securities
Aaa
AAA
Agency Mortgage Backed Security Pass-Throughs
Aaa
AA+
(e) Concentration of Credit Risk
Concentration of credit risk is defined as the risk of loss attributed to the magnitude of a government’s
investment in a single issuer. The County’s investment policy limits the amount that may be invested in
obligations of any one issuer, except direct obligations of the U.S. government or federal agencies, to
no more than five percent of the County Investment Pool.
At June 30, 2016, the following investments exceeded five percent of the total cash and investments
invested for all entities combined:
Federal Home Loan Mortgage Corporation
9.39%
Federal National Mortgage Association
18.85%
As of June 30, 2015, the following investments exceeded five percent of the total cash, investments,
and loaned securities invested for all entities combined:
Federal Home Loan Banks (FHLB)
5.83%
Federal Home Loan Mortgage Corporation
17.69%
Federal National Mortgage Association
17.88%
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