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PALM BEACH COUNTY, FLORIDA ANNUAL FINANCIAL AUDIT REPORT FISCAL YEAR ENDED SEPTEMBER 30, 2009_part3

PALM BEACH COUNTY, FLORIDA THUYẾT MINH BÁO CÁO TÀI CHÍNH 30 Tháng Chín 2009 không thực hiện theo yêu cầu tuân thủ theo quy định. Những tài nguyên này được phản ánh thu tại thời điểm nhận hoặc sớm hơn nếu dễ bị dồn tích tiêu chuẩn được đáp ứng. D. | PALM BEACH COUNTY FLORIDA NOTES TO THE FINANCIAL STATEMENTS SEPTEMBER 30 2009 failure to comply with prescribed compliance requirements. These resources are reflected as revenues at the time of receipt or earlier if the susceptible to accrual criteria are met. D. Cash and Investments Additional information is provided in Note 2 Cash and Investments. Deposits All deposits are held in qualified public depositories pursuant to the Florida Statutes Chapter 280 Florida Security for Public Deposits Act and are covered by either federal depository insurance or collateral held by the Chief Financial Officer of Florida. In the event of a default by a qualified public depository all claims for government deposits would be satisfied by the Chief Financial Officer of Florida from the proceeds of federal deposit insurance pledged collateral of the public depository in default and if necessary a pro rata assessment to the other qualified public depositories in the collateral pool. Cash Equivalents Highly liquid investments with maturities of three months or less when purchased are reported as cash equivalents. The funds investments in the County s internal investment pool are reported in the fund financial statements as cash equivalents. For the entity-wide Statement of Net Assets the primary government s investment in the internal investment pool is reported separately from investments held outside the pool. Internal Investment Pool The County maintains an investment pool for substantially all cash and cash equivalents and investments of all funds. All money market investments and participating interest earning investment contracts with a remaining maturity at time of purchase of ninety days or less are recorded at amortized cost plus accrued interest. All other investments are carried at fair value as determined from quoted market prices. Each fund s portion of the pool is presented as cash and cash equivalents investments or restricted assets as appropriate. Earnings are .