Notes to Financial Statements
1. SIGNIFICANT ACCOUNTING POLICIES
Institutional Fiduciary Trust (the Trust) is an open-end management investment company (mutual fund), registered
under the Investment Company Act of 1940, as amended. The Trust consists of seven separate series. This
report pertains to the four money market funds (the Funds) included in the accompanying financial statements,
each a no-load, diversified series of the Trust. Each of the Funds issues a separate series of the Trust's shares and
maintains a totally separate investment portfolio. The investment objective of the Funds is high current income.
Institutional Fiduciary Trust Money Market Portfolio (Money Market Fund) and 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.
Both are no-load, open-end, diversified management investment companies having the same investment objective
as the Money Market Fund and U.S. Government Fund. The financial statements of the Portfolios, including the
Statements of Investments in Securities and Net Assets, are included elsewhere in this report and should be read
in conjunction with the financial statements of the Money Market Fund and U.S. Government Fund.
The following is a summary of significant accounting policies consistently followed by the Funds in the preparation
of their financial statements. The policies are in conformity with generally accepted accounting principles for
a. Security Valuation:
Portfolio securities in the Franklin U.S. Treasury Money Market Portfolio and the Franklin U.S. Government
Agency Money Market Fund are valued at amortized cost, which approximates value. Each of these Funds must
maintain a dollar weighted average maturity of 90 days or less and only purchase instruments having remaining
maturities of 397 days or less. If the Funds' portfolio