Cash Management and Investment.
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| Average daily balance |
$234.7 million |
| Balance at December 31, 2008 |
$253.5 million |
| Interest earned |
$6.5 million |
|
Portfolio at December 31, 2008:
|
|
State Pool |
$10.2 million |
|
Money market mutual funds |
$111.0 million |
|
Interest Bearing Deposits |
$126.9 million |
|
Government Agencies |
$5.4 million |
In addition to the investments described above, bond proceeds totaling approximately $202.24 million as of December 31, 2008 were held by the County. The State of Utah’s Utah Money Management Act, Title 51, Chapter 7 governs the investment of all funds held by public treasurers in the state.
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