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DRAFT <br />The Authority has the following recurring fair value measurements as of September 30, 2016: <br />U.S. Treasury securities of $845,318 are valued using quoted prices .in an active market for <br />identical assets (Level 1 inputs). <br />Interest Rate Risk <br />The Authority's investment policy specifies that the maximum stated maturity, from the date of <br />purchase for any individual investment may not exceed 5 years and the maximum dollar -weighted <br />overage maturity for the pooled fund group may not exceed 2 years. At year end, the Authority's <br />dollar -weighted average maturity of the investment portfolio was as follows: <br />Weighted Average <br />lnvestnient T Lie Maturity (months) <br />Public funds investment pools 1.60 <br />Federal Home Loan Mortgage Corporation (FHLMC) 25.80 <br />Federal Farm. Credit Bank (FFCB) 27,04 <br />Federal Home Loan Bank (FHLB) 33.01 <br />Portfolio Weighted Average Maturity 14.58 <br />Concentration of Credit Risk <br />The Authority's investment policy places no limit on the amount the government may invest in <br />any one issuer. At September 30, 2016, the Authority's investment portfolio consisted of the <br />following investments: <br />Investment , ype <br />Public funds investment pools <br />US Agency securities <br />Credit Risk <br />Pere entage of <br />Total Portfolio <br />72.00 % <br />28.00 % <br />100,00 <br />At year end balances in TexPool, a privately managed public fund invesixnent pool, was rated <br />AAAm by Standard & Poor's and balances in LOGIC, a privately managed public funds <br />investment pool was rated AAAM by Standards & Poor's. <br />Federal Home Loan Mortgage Corporation notes, Federal Home Loan Banks bonds, Farmer Mac <br />and Federal Farm Credit Bank notes were rated AA+ by Standard & Poor's. <br />All credit rating met acceptable levels required by legal guidelines prescribed in both the PF1A and <br />the Authority's investment policy. <br />14 <br />