Fla. Admin. Code R. 19-7.011
The Rate of Return for the Local Government Surplus Funds Trust Fund shall be calculated in accordance with the yield methodology set forth by the Securities and Exchange Commission (SEC) Rule 2a-7 (17 CFR § 270.2a-7) under the Investment Company Act of 1940 for money market funds. Rule 2a-7 can be obtained by accessing the SEC website at sec.gov and clicking on the Laws & Regulations section. For the purposes of comparing the yield of the Local Government Surplus Funds Trust Fund to that of a performance benchmark for participant reporting, a net-of-fees methodology will be utilized for all reporting periods for both the Local Government Surplus Funds Trust Fund and the performance benchmark.
Fla. Admin. Code Ann. R. 19-7.011
Rulemaking Authority 218.405, 218.412 FS. Law Implemented 218.409(4) FS.
New 8-24-82, Formerly 19-7.11, Amended 4-8-92, 3-26-02, 9-5-10.