What is it?

In 1991, the Florida Association of Counties (FAC) and the Florida Court Clerks & Comptrollers (FCCC) teamed-up with four counties (Brevard, Hernando, Manatee and Orange) to establish the Florida Trust to provide a local government investment pool (LGIP) for Florida’s counties. Established in accordance with section 163.01, Florida Statutes, the Florida Trust is governed by a six-member board of trustees comprised of three County Commissioners and three Clerks of the Circuit Court. Focused on safety, liquidity and return, the Florida Trust is the longest running member-owned, member-governed LGIP in the state and has an outstanding track record for safety and performance since it opened on January 15, 1992.

 

Key Features

  • Marked to Market every business day since inception
  • 22 consecutive unqualified opinions from external auditors covering inception to the most recent fiscal year
  • No withdrawal restrictions
  • Trust membership is completely free and there is no obligation to deposit funds
 
The Florida Trust offers two investment funds:

Short Term Bond Fund

Has outperformed its benchmark, the Merrill Lynch 1 – 3 Year Treasury Index, by sticking to its guidelines and keeping its priorities on safety, liquidity and yield, in that order, resulting in the highest possible rating by Fitch- AAAf/S1. (Next-Day Liquidity)

 

Key Features:

  • Authorized investment under Florida law, F.S. 218.415 (16) (a).  The Florida Trust is an intergovernmental investment pool created by interlocal agreement under F.S. 163.01.
  • Launched in 1992 and sponsored by the Florida Court Clerks and Comptrollers and the Florida Association of Counties.
  • AAAf/ S1 rated by Fitch Ratings' Agency and structured to maintain liquidity, safety of principal, and maximize available yield through a balance of quality and diversification.
  • Invests primarily in U.S. Treasuries, Mortgages, Commercial Paper, Government Related Securities, Asset-Backed Securities rated AAA or A-1, and Corporate Bonds rated A or better by Fitch Ratings'

 

Day to Day Fund

A money market fund opened in January 2009 which follows the same philosophy of maintaining strict investment guidelines, a high level of liquidity and received Fitch’s highest money market fund rating – AAAm. (Same-Day Liquidity)

 

Key Features:

  • Authorized investment under Florida law, F.S. 218.415 (16) (a). The Florida Trust is an intergovernmental investment pool created by interlocal agreement under F.S. 163.01.
  • Launched in 2009 and sponsored by the Florida Court Clerks and Comptrollers and the Florida Association of Counties.
  • AAAmmf rated by Fitch Ratings' Agency and structured to maintain liquidity, safety of principal, and maximize available yield through a balance of quality and diversification.
  • Invests primarily in Repurchase Agreements, U.S. Treasuries, Mortgages, Commercial Paper and Certificates of Deposit, Government Related Securities, Asset-Backed Securities rated AAA or A-1, and Corporate Bonds rated A or better by Fitch Ratings'

 

Meet Our Partner

 

 

 

 

Matt Wade  |  Client Relationship Representative

Matt Wade is a Client Relationship Representative for the Florida Local Government Investment Trust (Florida Trust). He attended Ohio University where he majored in Sports Management and minored in Marketing.  Matt has over 7 years of sales and client service experience, mostly in the sports industry.

Prior to joining the Florida Trust, Matt was working in the medical technology field. Helping independent physicians with compliance standards and streamlining their billing technology. 

In his free time Matt can usually be found watching or playing sports, typically golf, or exploring Florida’s growing craft brewery scene.  He recently purchased a house in Tampa’s Seminole Heights area where he resides.

mwade@civiteksolutions.com  |  (813) 480-6716

 

 

 

Zach Falconer  |  Client Relationship Representative

Zach Falconer is a Client Relationship Representative for the Florida Local Government Investment Trust (Florida Trust). He has over 10 years’ experience in client service. He attended Northeastern University on a football scholarship and has an undergraduate degree in Communications. After a stint with the NFL's Oakland Raiders, he pursued graduate school at the University of Central Florida where he received a Master's in Business Administration.

Prior to joining the Florida Trust, Zach was a Relationship Manager for a boutique consulting and personnel management company located in the Central Florida Research Park. He has also served as Manager of a statewide in-school marketing program.

His favorite pastimes include exercising, reading and traveling - and he resides in Orlando with his wife Kerry, daughter Zofia and dog Tucker.

zfalconer@civiteksolutions.com  |  (850) 577-4610

 

Resources

 

FAC Contact

Anna R. Doughty, CPA  |  Director of Internal Affairs & Financial Services  |  adoughty@fl-counties.com  |  (850) 922-4300