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ORANGE COUNTY, NORTH CAROLINA
<br />NOTES TO THE FINANCIAL STATEMENTS
<br />FOR THE YEAR ENDED JUNE 30, 2012
<br />entities names. The amount of the pledged collateral is based on an approved averaging method for
<br />non-interest bearing deposits and the actual current balance for interest-bearing deposits.
<br />Depositories using the Pooling Method report to the State Treasurer the adequacy of their pooled
<br />collateral covering uninsured deposits.The State Treasurer does not confirm this information with
<br />the County or with the escrow agent. Because of the inability to measure the exact amount of
<br />collateral pledged for the County under the Pooling Method, the potential exists for
<br />undercollaterization, and this risk may increase in periods of high cash flows. However, the State
<br />Treasurer of North Carolina enforces strict standards of financial stability for each depository that
<br />collateralizes public deposits under the Pooling Method.
<br />The State Treasurer enforces standards of minimum capitalization for all pooling method financial
<br />institutions. The County relies on the State Treasurer to monitor those financial institutions. The
<br />County analyzes the financial soundness of any other financial institution used by the County. The
<br />County complies with the provisions of G.S. 159-31 when designating official depositories and
<br />verifying that deposits are properly secured.The County does not have a policy regarding custodial
<br />credit risk for deposits.
<br />At June 30, 2012, the County's deposits had a carrying amount of $28,644,696 and a bank balance of
<br />$29,300,268. Of the bank balance, $900,434 was covered by federal depository insurance, and
<br />$28,399,834 was covered bycollateral held under the Pooling Method. Cash on hand was $4,825.
<br />Investments
<br />At June 30, 2012, the County had the following investments and maturities:
<br /> Less Than 6-12
<br />Investment Type Fair Value 6 Months Months 1-3 Years
<br />NC Capital Management Trust -
<br /> Cash Portfolio
<br />$ 55,484,702N/AN/AN/A
<br />Commercial Paper:
<br />Abbey National LLC 2,995,950 2,995,950N/AN/A
<br />Barclays US Funding 1,997,639 1,997,639N/AN/A
<br />Dealers Cap Access Tr Inc 1,249,728 1,249,728N/AN/A
<br />Dealers Cap Access Tr Inc 3,746,208 3,746,208N/AN/A
<br />Deutsche Bank 1,998,060 1,998,060N/AN/A
<br />Deutsche Bank 1,993,200 1,993,200N/AN/A
<br />FCAR Owner Trust II 1,993,968 1,993,968N/AN/A
<br />FCAR Owner Trust II 1,997,278 1,997,278N/AN/A
<br />FCAR Owner Trust II 1,994,914 1,994,914N/AN/A
<br />FCAR Owner Trust II 1,998,276 1,998,276N/AN/A
<br />$ 77,449,924$ 21,965,222
<br />Total investments
<br />43
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