Notes to Financial Statements (unaudited)
1. ORGANIZATION AND SIGNIFICANT ACCOUNTING POLICIES
Institutional Fiduciary Trust (the Trust) is registered under the Investment Company Act of 1940 as an open-end
investment company, consisting of three separate series (the Funds). All funds included in this report are
diversified. The investment objective of the funds included in this report is to seek high current income consistent
with the preservation of capital and liquidity.
The Institutional Fiduciary Trust Money Market Portfolio (Money Market Fund) and the Franklin U.S.
Government Securities Money Market Portfolio (U.S. Government Fund) invest substantially all of their assets in
the Money Market Portfolio and the U.S. Government Securities Money Market Portfolio (the Portfolios),
respectively. The Portfolios are registered under the Investment Company Act of 1940 as diversified, open-end
investment companies having the same investment objectives as the funds'. The financial statements of the
Portfolios, including the Statement of Investments, are included elsewhere in this report and should be read in
conjunction with the funds' financial statements.
The following summarizes the funds' significant accounting policies.
a. SECURITY VALUATION:
The Money Market Fund and the U.S. Government Fund hold Portfolio shares that are valued at their
proportionate interest in the net asset values of the Money Market Portfolio and the U.S. Government Securities
Money Market Portfolio, respectively. At December 31, 1999, the Money Market Fund owns 16.56% of the
Money Market Portfolio and the U.S. Government Fund owns 24.29% of the U.S. Government Securities
Money Market Portfolio.
b. INCOME TAXES:
No provision has been made for income taxes because each fund's policy is to qualify as a regulated investment
company under the Internal Revenue Code and to distribute substantially all of its taxable income.
c. SECURITY TRANSACTIONS, INVESTMENT INCOME, EXPENSES AND DISTRIBUTIONS: