Sarasota County, Florida Notes to Financial Statements September 30, 2023 will achieve its objective, the Advisor will endeavor to do so by following the procedures described in the investment policy statement. Same day liquidity for transactions entered by 2:00 p.m. EST. FLGIT Day to Day investment pool is AAAmmf rated by Fitch Ratings and is 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, Government Related Securities, AssetBacked Securities rated AAA or A-1, and Corporate Bonds rated A or better by Fitch Ratings. Stable Net Asset Value (NAV) with the investment objective of maintaining a $1.00 per share NAV. Same day liquidity for transactions entered by 11:00 a.m. EST. FLSAFE Stable NAV investment pool, AAAm rating from S&P, will invest solely in permitted investments in such a manner as to result in an average dollar weighted maturity of reset for the portfolio of no greater than sixty days and an average dollar weighted maturity of final maturity for the portfolio of no greater than ninety days (with certain extensions). The permitted Investments in which the Stable Value Fund invests are selected by the Funds investment advisor, PMA Asset Management, LLC and consistent of money market instruments having a maximum maturity of 397 days except for certain floating rate government securities. Same day liquidity for transactions entered by 1:00 p.m. EST. FLPALM Portfolio has a credit rating of AAAm by S&P. The Portfolio will be managed to ensure that it will meet all the necessary requirements to maintain a AAAm rating by Standard & Poors (S&P). The AAAm rating is based on analysis of credit quality, market price exposure and management. According to S&P rating criteria, the AAAm rating signifies excellent safety of invested principal and a superior capacity to maintain a $1.00 per share net asset value. Same day liquidity for transactions entered by 2:00 p.m. EST. FLCLASS is rated AAAm by S&P Global Ratings Services, the highest rating assigned to principal stability government investment pools. This rating reflects the conservative nature of the pool's investments as well as the excellent credit quality of the program. S&P Global Ratings monitors the pool on a weekly basis. The Board of Trustees has appointed Public Trust Advisors, LLC, to serve as the Investment Advisor and Administrator of the Program and has appointed Wells Fargo Bank, N.A. as the Custodian. Same day liquidity for transactions entered by 3:00 p.m. EST. Qualifying Investment Pools If a participant has an investment in a qualifying external investment pool that measures for financial reporting purposes all of its investments at amortized cost, it should disclose the presence of any limitations or restrictions on withdrawals (such as redemption notice periods, maximum transaction amounts, and the qualifying external investment pools authority to impose liquidity fees or redemption gates) in notes to the financial statements. With regard to redemption gates, Chapter 218.409(8) (a), Florida Statutes, states that The principal, and any part thereof, of each account constituting the trust fund is subject to payment at any time from the moneys in the trust fund. However, the Executive Director may, in good faith, on the occurrence of an event that has a material impact on liquidity or operations of the trust fund, for 48 hours limit contributions to or withdrawals from the trust fund to ensure that the Board can invest moneys entrusted to it in exercising its fiduciary responsibility. Such action must be immediately disclosed to all participants, the Trustees, the Joint Legislative Auditing Committee, the Investment Advisory Council, and the Participant Local Government Advisory Council. The Trustees shall convene an emergency meeting as soon as practicable from the time the Executive Director has instituted such measures and review the necessity of those measures. If the Trustees are unable to convene an emergency meeting before the expiration of the 48-hour moratorium on contributions and withdrawals, the moratorium may be extended by the Executive Director until the Trustees are able to meet to review the necessity for the moratorium. If the Trustees agree with such measures, the Trustees shall vote to continue the measures for up to an additional 15 days. The Trustees must convene and vote to continue any such measures before the expiration of the time limit set, but in no case may the time limit set by the Trustees exceed 15 days. As of September 30, 2023, there were no redemption fees or maximum transaction amounts, or any other requirements that serve to limit a participants daily access to 100 percent of their account value. 99
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