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

 

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