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Office of Program Policy Analysis and Government Accountability

Oversight Report on the State Board of Administration's 1995-96 Investment Report, Report No. 97-27, January 1998
 
Full report in PDF format


  • The State Board of Administration's (SBA) performance in investing Florida Retirement System assets not only exceeded its overall investment objective in 1995-96 but also for longer periods covering the last 20 years.
  • The SBA’s allocation of Florida Retirement System assets was within ranges established in its long-term investment plan.
  • Investment returns for various asset classes were higher than or close to performance targets over three- and five-year periods.
  • The SBA's 1995-96 Investment Report contains reasonably accurate and reliable performance data. However, the SBA has some weaknesses in its management controls for ensuring data accuracy and reliability.
  • The 1995-96 Investment Report does not provide performance information on individual accounts in the real estate asset class.
  • The SBA has not developed a system for reporting on whether its managers are adhering to Investment Plan guidelines.

Which Government Program Summaries contain related information?

State Board of Administration
Investment Services for the Florida Retirement System

What other OPPAGA-related materials are available?

  • Report No. 99-52 Program Review: Investment of Florida Retirement System Assets Meets Goals, But Earnings Could Be Increased, published in May 2000.
  • Report No. 99-50 Program Review: The Florida Retirement System Continues to Be Fully Funded; Unfunded Liability Eliminated, published in May 2000.
  • Report No. 98-10  Oversight Report on the State Board of Administration's 1996-97 Investment Report, published in August 1998.

Copies of this report in print or alternate accessible format may be obtained by telephone (850/488-0021), by FAX (850/487-9213), in person, or by mail (OPPAGA Report Production, Claude Pepper Building, Room 312, 111 W. Madison St., Tallahassee, FL 32399-1475).
e-mail address: oppaga@oppaga.fl.gov


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