The National Association of Collectors, Treasurers and Finance Officers
SIFMA Informational Survey Responses- Submitted December 2007- Presented March 2008
Percent of respondents (may sum to more than 100% if a respondent provided more than one answer.)
1. Types of investments
CD	83
GSE	50
Government Securities	42
Money market funds	25
Commercial Paper	25
State pools	17
Repo	17
Corporate Bonds	10
2. Average Maturity
Less than 6 months	58
6 mo to a year	25
more than a year	17
3. Source of funding
Taxes, Fees	60
County Fund	50
State/Federal Aid	25
Bond Proceeds	17
Reserves	17
4. Investment objectives (note for those who rank ordered responses, Safety was ranked first followed by liquidity and yield
Safety	100
Liquidity	93
Yield	75
Investment Principle Retention	33
Diversification	17
5. Whether financial policies are reviewed and how frequent
Yes	100
At least annually	53
as needed	25
2 years	17
Seldom	5
6. Who makes the investment decisions
Treasurer	67
Finance Director	33
Investment Committee	17
Finance Committee	17
Investment Officer	17
7. Major concerns
Safety/Stability of Markets	25
Condition of Banks	25
Loss	17
Commercial Paper Ratings	12
Interest Rates	8
Liquidity	8
Headline Risk	5
Liability of Treasurer for a Fund Shortfall	5
8. What do you want to hear about
Investment vehicles that are safe, reliable and higher yield	33
Macro Economy	25
Asset Backed Securities	17
Benchmarking	17
Fannie Mae, Freddie Mae	15
Commercial Paper Ratings	8
Pledging Securities Pooled	8
Cash Shortages	8