The Florida Legislature
Office of Program Policy Analysis and Government Accountability
Performance Audit of the 1993-94 Investment Report of the State Board of Administration , Report No. 94-48, May 1995
- The SBA has not developed policies for recognizing major reductions in Florida Retirement System Trust Fund assets.
- The SBA has developed written guidelines for investing in futures and options, but it has not developed guidelines for investing in other types of derivatives. Further, it has not established a formal system for monitoring and reporting on the use of derivatives. Currently, the SBA is reviewing derivative investments made by its internal and external portfolio managers.
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