Texas State University-San Marcos Annual Financial Report: 2012 Page: 23
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UNAUDITED
Texas State University-San Marcos (754)
NOTES TO THE BASIC FINANCIAL STATEMENTS
Credit Risk for Investments
Credit risk is the risk that an issuer or other counterparty to an investment will not fulfill its obligations. The university's
investment policy requires that investments in debt securities be rated in the top three investment grade ratings (Standard &
Poor's AAA to A or comparable ratings with other agencies for operating funds and BBB and above for endowments) at the
time of purchase. Two nationally recognized statistical rating organizations must rate the security. Risk is further limited
through the Investment Policy by term limitations, and maximum single purchase and maximum aggregate position
percentages. Investment grade rather of debt securities as of August 31, 2012, were as follows:
Current Standard & Poor's Rating
Fund GAAP
Type Fund Investment Type AAA AA A BBB Total
Fixed Money Market and Bond Mutual Fund
05 9999
U.S. Government Agency Obligations (Exclude obligations
explicitly guaranteed by U.S. Government such as Ginnie
Mae, GSEs such as Fannie Mae have implicit U.S.
Government guarantees and therefore are considered to
05 9999 have credit risk and require disclosure of credit quality) $43,502,895.25 $12,969,008.80 $56,471,904.05
05 9999 Corporate Obligations 4,411,907.33 14,373,860.07 1,815,347.89 20,601,115.29
05 9999 Corporate Asset and Mortgage Backed Securities 295,557.55 295,557.55
05 9999 Municipal Bonds 49,352.40 49,352.40
05 9999 Misc - Preferred Securities 176,940.00 176,940.00
TOTAL $43,798,452.80 $17,430,268.53 $14,373,860.07 $1,992,287.89 $77,594,869.29
Not Rated
05 9999 Corporate Asset and Mortgage Backed Securities $1,779,384.95
05 9999 International Obligation $188,922.50
TOTAL $1,968,307.45NOTE 4:
Short-Term Debt
Not Applicable.
During the fiscal year ended August 31, 2012, Texas State had no short-term debt activity.Annual Financial Report -for the fiscal year ended August 31, 2012
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Texas State University--San Marcos. Texas State University-San Marcos Annual Financial Report: 2012, report, Autumn 2012; San Marcos, Texas. (https://texashistory.unt.edu/ark:/67531/metapth578530/m1/27/?q=Lamar+University: accessed July 17, 2024), University of North Texas Libraries, The Portal to Texas History, https://texashistory.unt.edu; crediting UNT Libraries Government Documents Department.