# Fla. Stat. § 218.405: 218.405 Local Government Surplus Funds Trust Fund; creation; objectives; certification; interest; rulemaking

> Florida · Statutes · In force

URL: https://www.frixlaw.com/law-library/statutes/STATE_FL_TXIV_C218_PIV_S218.405

## Section

- **Citation:** Fla. Stat. § 218.405
- **Heading:** 218.405 Local Government Surplus Funds Trust Fund; creation; objectives; certification; interest; rulemaking
- **Jurisdiction:** Florida
- **Kind:** Statutes
- **Status:** In force
- **Text as of:** August 14, 2026
- **Source:** Compiled text
- **Location:** Florida Code / Title XIV / Chapter 218 / Part IV / Section 218.405

## Text

(1) There is hereby created a Local Government Surplus Funds Trust Fund to be administered by the board and to be composed of local government surplus funds deposited therein by units of local government under the procedures established in this part. The board may contract with a professional money management firm to manage the trust fund.

(2) The primary objectives, in priority order, of investment activities shall be safety, liquidity, and competitive returns with minimization of risks.

(3) The trustees shall annually certify to the Joint Legislative Auditing Committee that the trust fund is in compliance with the requirements of this part and that the trustees have conducted a review of the trust fund and determined that the management of the trust fund is in accord with best investment practices.

(4) The board may adopt rules to administer the provisions of this section.

History: s. 1, ch. 77-394; s. 3, ch. 98-124; s. 3, ch. 2008-59.

## Nearby sections

- [Fla. Stat. § 218.40 218.40 Short title.](https://www.frixlaw.com/law-library/statutes/STATE_FL_TXIV_C218_PIV_S218.40.md)
- [Fla. Stat. § 218.401 218.401 Purpose.](https://www.frixlaw.com/law-library/statutes/STATE_FL_TXIV_C218_PIV_S218.401.md)
- [Fla. Stat. § 218.403 218.403 Definitions.](https://www.frixlaw.com/law-library/statutes/STATE_FL_TXIV_C218_PIV_S218.403.md)
- [Fla. Stat. § 218.405 218.405 Local Government Surplus Funds Trust Fund; creation; objectives; certification; interest; rulemaking.](https://www.frixlaw.com/law-library/statutes/STATE_FL_TXIV_C218_PIV_S218.405.md)
- [Fla. Stat. § 218.407 218.407 Local government investment authority.](https://www.frixlaw.com/law-library/statutes/STATE_FL_TXIV_C218_PIV_S218.407.md)
- [Fla. Stat. § 218.409 218.409 Administration of the trust fund.](https://www.frixlaw.com/law-library/statutes/STATE_FL_TXIV_C218_PIV_S218.409.md)
- [Fla. Stat. § 218.411 218.411 Authorization for state technical and advisory assistance.](https://www.frixlaw.com/law-library/statutes/STATE_FL_TXIV_C218_PIV_S218.411.md)
- [Fla. Stat. § 218.412 218.412 Rulemaking authority.](https://www.frixlaw.com/law-library/statutes/STATE_FL_TXIV_C218_PIV_S218.412.md)
- [Fla. Stat. § 218.415 218.415 Local government investment policies.](https://www.frixlaw.com/law-library/statutes/STATE_FL_TXIV_C218_PIV_S218.415.md)

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Source: Frix Law Library, https://www.frixlaw.com/law-library/statutes/STATE_FL_TXIV_C218_PIV_S218.405. Check the current official text before relying on it. Not legal advice.