UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM N-Q
QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED MANAGEMENT
INVESTMENT COMPANY
Investment Company Act File number 811-6502
Name of Fund: MuniYield Florida Fund, Inc.
Fund Address: P.O. Box 9011
Princeton, NJ 08543-9011
Name and address of agent for service: Robert C. Doll, Jr., Chief Executive
Officer, MuniYield Florida Fund, Inc., 800 Scudders Mill Road,
Plainsboro, NJ, 08536. Mailing address: P.O. Box 9011, Princeton,
NJ, 08543-9011
Registrant's telephone number, including area code: (609) 282-2800
Date of fiscal year end: 10/31/2006
Date of reporting period: 05/01/06 - 07/31/06
Item 1 - Schedule of Investments
MuniYield Florida Fund
Schedule of Investments as of July 31, 2006 (in Thousands)
Face
Amount Municipal Bonds Value
District of $ 1,000 Metropolitan Washington Airports Authority, D.C., Airport System Revenue
Columbia - 0.5% Bonds, AMT, Series A, 5.25% due 10/01/2032 (f) $ 1,028
Florida - 139.8% 2,100 Alachua County, Florida, School Board, COP, 5.25% due 7/01/2029 (b) 2,207
1,600 Arbor Greene Community Development District, Florida, Special Assessment Revenue
Refunding Bonds, 5% due 5/01/2019 1,635
2,420 Bay County, Florida, Sales Tax Revenue Bonds, 5% due 9/01/2027 (b) 2,517
2,000 Beacon Tradeport Community Development District, Florida, Special Assessment Revenue
Refunding Bonds (Commercial Project), Series A, 5.625% due 5/01/2032 (o) 2,144
2,030 Brevard County, Florida, Local Option Fuel Tax Revenue Bonds, 5% due 8/01/2024 (f) 2,109
2,870 Broward County, Florida, Airport System Revenue Bonds, AMT, Series I, 5.75% due
10/01/2018 (b) 3,088
2,750 Broward County, Florida, Educational Facilities Authority Revenue Bonds (Nova
Southeastern University), 5% due 4/01/2031 (c) 2,826
1,000 Broward County, Florida, Educational Facilities Authority Revenue Bonds (Nova
Southeastern University), Series B, 5.625% due 4/01/2034 1,036
1,750 Cape Coral, Florida, Special Obligation Revenue Bonds, 5% due 10/01/2023 (m) 1,829
2,425 Cape Coral, Florida, Special Obligation Revenue Bonds, 5% due 10/01/2033 (m) 2,503
2,305 Citrus County, Florida, Hospital Board Revenue Refunding Bonds (Citrus Memorial
Hospital), 6.25% due 8/15/2023 2,485
2,850 Citrus County, Florida, Hospital Board Revenue Refunding Bonds (Citrus Memorial
Hospital), 6.375% due 8/15/2032 3,075
3,160 Collier County, Florida, IDA, IDR, Refunding (Southern States Utilities), AMT, 6.50%
due 10/01/2025 3,228
1,370 Duval County, Florida, HFA, S/F Mortgage Revenue Refunding Bonds, AMT, 5.40%
due 10/01/2021 (i) 1,398
2,310 Duval County, Florida, HFA, S/F Mortgage Revenue Refunding Bonds, AMT, 5.85%
due 10/01/2027 (i)(m) 2,371
495 Florida Housing Finance Corporation, Homeowner Mortgage Revenue Refunding Bonds, AMT,
Series 4, 6.25% due 7/01/2022 (j) 503
1,580 Florida Municipal Loan Council Revenue Bonds, Series A-1, 5.125% due 7/01/2034 (m) 1,636
4,250 Florida Municipal Loan Council Revenue Bonds, Series B, 5.375% due 11/01/2030 (m) 4,458
1,220 Florida State Board of Education, Capital Outlay, GO, Public Education, Series A, 6%
due 1/01/2010 (n) 1,316
2,500 Florida State Board of Education, GO (Public Education Capital Outlay), Series J, 5%
due 6/01/2031 2,575
Portfolio Abbreviations
To simplify the listings of MuniYield Florida Fund's portfolio holdings
in the Schedule of Investments, we have abbreviated the names of many of
the securities according to the list below.
AMT Alternative Minimum Tax (subject to)
COP Certificates of Participation
DRIVERS Derivative Inverse Tax-Exempt Receipts
EDA Economic Development Authority
GO General Obligation Bonds
HFA Housing Finance Agency
IDA Industrial Development Authority
IDR Industrial Development Revenue Bonds
S/F Single-Family
VRDN Variable Rate Demand Notes
MuniYield Florida Fund
Schedule of Investments as of July 31, 2006 (concluded) (in Thousands)
Face
Amount Municipal Bonds Value
Florida $ 1,000 Florida State Board of Education, Lottery Revenue Bonds, Series A, 6% due
(concluded) 7/01/2014 (f) $ 1,085
1,000 Florida State Governmental Utility Authority, Utility Revenue Bonds (Lehigh
Utility System), 5.125% due 10/01/2033 (b) 1,036
1,075 Gainesville, Florida, Utilities System Revenue Bonds, Series A, 5.25% due 10/01/2022 1,147
1,250 Halifax Hospital Medical Center, Florida, Hospital Revenue Refunding and Improvement
Bonds, Series A, 5.25% due 6/01/2026 1,283
5,000 Hernando County, Florida, School Board, COP, 5% due 7/01/2035 (m) 5,142
5,900 Highlands County, Florida, Health Facilities Authority, Hospital Revenue Bonds
(Adventist Health System), Series A, 6% due 11/15/2011 (n) 6,533
1,000 Highlands County, Florida, Health Facilities Authority, Hospital Revenue Bonds
(Adventist Health System), Series C, 5.25% due 11/15/2036 1,033
3,945 Hillsborough County, Florida, Court Facilities Revenue Bonds, 5.40% due
11/01/2007 (b)(n) 4,065
1,055 Hillsborough County, Florida, Court Facilities Revenue Bonds, 5.40% due
11/01/2012 (b)(n) 1,146
2,500 Hillsborough County, Florida, IDA, Exempt Facilities Revenue Bonds (National
Gypsum Company), AMT, Series A, 7.125% due 4/01/2030 2,747
3,750 Hillsborough County, Florida, IDA, Exempt Facilities Revenue Bonds (National
Gypsum Company), AMT, Series B, 7.125% due 4/01/2030 4,120
1,000 Hillsborough County, Florida, IDA, Hospital Revenue Bonds (H. Lee Moffitt Cancer
Center Project), Series C, 5.50% due 7/01/2032 1,028
1,000 Hillsborough County, Florida, Port District Revenue Bonds (Tampa Port Authority
Project), AMT, 5% due 6/01/2026 (m) 1,021
1,500 Hillsborough County, Florida, School Board, COP, 5% due 7/01/2029 (m) 1,537
1,000 Jacksonville, Florida, Economic Development Commission, Health Care Facilities
Revenue Bonds (Mayo Clinic-Jacksonville), Series A, 5.50% due 11/15/2036 (m) 1,066
1,140 Jacksonville, Florida, Economic Development Commission, IDR (Metropolitan Parking
Solutions Project), AMT, 5.50% due 10/01/2030 (a) 1,192
2,800 Jacksonville, Florida, Economic Development Commission, IDR (Metropolitan Parking
Solutions Project), AMT, 5.875% due 6/01/2031 (a) 3,018
1,500 Jacksonville, Florida, Excise Taxes Revenue Bonds, Series B, 5.125% due 10/01/2032 (f) 1,546
2,315 Jacksonville, Florida, Guaranteed Entitlement Revenue Refunding and Improvement
Bonds, 5.25% due 10/01/2032 (f) 2,427
3,800 Jacksonville, Florida, Sales Tax Revenue Bonds, 5% due 10/01/2027 (m) 3,910
3,500 Lakeland, Florida, Hospital System Revenue Bonds (Lakeland Regional Health System),
Series A, 5.50% due 11/15/2026 (m) 3,663
3,375 Lee County, Florida, Capital Revenue Bonds, 5.25% due 10/01/2023 (b) 3,600
40 Lee County, Florida, HFA, S/F Mortgage Revenue Bonds (Multi-County Program), AMT,
Series A-1, 7.125% due 3/01/2028 (i) 40
200 Lee County, Florida, Hospital Board of Directors, Hospital Revenue Bonds (Memorial
Health System), VRDN, Series A, 3.70% due 4/01/2025 (q) 200
2,500 Lee County, Florida, School Board, COP, Series A, 5% due 8/01/2024 (j) 2,604
125 Leon County, Florida, HFA, S/F Mortgage Revenue Bonds (Multi-County Program), AMT,
Series B, 7.30% due 1/01/2028 (g)(k) 129
155 Manatee County, Florida, HFA, S/F Mortgage Revenue Bonds, AMT, Sub-Series 2, 7.75%
due 5/01/2026 (g)(k) 159
220 Manatee County, Florida, HFA, S/F Mortgage Revenue Refunding Bonds, AMT, Sub-Series 1,
6.25% due 11/01/2028 (k) 223
1,000 Marco Island, Florida, Utility System Revenue Bonds, 5% due 10/01/2033 (m) 1,028
1,350 Martin County, Florida, Health Facilities Authority, Hospital Revenue Bonds (Martin
Memorial Medical Center), Series A, 5.75% due 11/15/2022 1,438
3,535 Martin County, Florida, Health Facilities Authority, Hospital Revenue Bonds (Martin
Memorial Medical Center), Series A, 5.875% due 11/15/2032 3,769
3,000 Miami Beach, Florida, Water and Sewer Revenue Bonds, 5.75% due 9/01/2025 (b) 3,218
4,335 Miami-Dade County, Florida, Aviation Revenue Bonds, AMT, Series A, 5% due 10/01/2033 (j) 4,385
4,300 Miami-Dade County, Florida, Aviation Revenue Bonds (Miami International Airport), AMT,
Series A, 6% due 10/01/2029 (f) 4,634
2,225 Miami-Dade County, Florida, Aviation Revenue Bonds (Miami International Airport), AMT,
Series A, 5% due 10/01/2033 (f) 2,254
1,750 Miami-Dade County, Florida, Educational Facilities Authority Revenue Bonds (University
of Miami), Series A, 5.75% due 4/01/2029 (b) 1,867
8,000 Miami-Dade County, Florida, Expressway Authority, Toll System Revenue Bonds, DRIVERS,
Series 160, 6.375% due 7/01/2010 (f)(h)(n) 9,584
4,750 Miami-Dade County, Florida, Expressway Authority, Toll System Revenue Bonds, Series B,
5% due 7/01/2033 (f) 4,887
535 Miami-Dade County, Florida, HFA, Home Ownership Mortgage Revenue Refunding Bonds, AMT,
Series A-1, 6.30% due 10/01/2020 (i) 552
3,300 Miami-Dade County, Florida, Health Facilities Authority, Hospital Revenue Refunding
Bonds, DRIVERS, Series 208, 7.285% due 8/15/2017 (b)(h) 3,772
3,200 Miami-Dade County, Florida, School Board, COP, Series A, 5.50% due 10/01/2009 (j)(n) 3,363
1,250 Miami-Dade County, Florida, School Board, COP, Series A, 5% due 11/01/2022 (b) 1,306
2,500 Miami-Dade County, Florida, School Board, COP, Series B, 5% due 11/01/2031 (b) 2,577
2,800 Miami-Dade County, Florida, Solid Waste System Revenue Bonds, 5.25% due 10/01/2030 (m) 2,969
1,750 Orange County, Florida, Health Facilities Authority, Hospital Revenue Bonds
(Adventist Health System), 6.25% due 11/15/2024 1,915
5,140 Orange County, Florida, Health Facilities Authority, Hospital Revenue Bonds (Orlando
Regional Healthcare), 6% due 12/01/2012 (n) 5,716
10,500 Orange County, Florida, School Board, COP, Series A, 5.25% due 8/01/2009 (m)(n) 11,028
3,000 Orlando and Orange County, Florida, Expressway Authority Revenue Bonds, Series B,
5% due 7/01/2030 (b) 3,074
10,185 Orlando and Orange County, Florida, Expressway Authority Revenue Bonds, Series B, 5%
due 7/01/2035 (b) 10,439
1,000 Orlando, Florida, Utilities Commission, Water and Electric Revenue Refunding Bonds,
Series C, 5.25% due 10/01/2023 1,058
1,955 Osceola County, Florida, School Board, COP, Series A, 5.25% due 6/01/2027 (b) 2,052
1,760 Osceola County, Florida, Tourist Development Tax Revenue Bonds, Series A, 5.50%
due 10/01/2027 (f) 1,876
5,000 Palm Beach County, Florida, Airport System Revenue Bonds, AMT, Series A, 5% due
10/01/2034 (m) 5,087
3,390 Palm Beach County, Florida, Criminal Justice Facilities Revenue Bonds, 7.20% due
6/01/2015 (f) 4,169
6,000 Palm Beach County, Florida, School Board, COP, Series A, 6.25% due 8/01/2010 (f)(n) 6,588
2,200 Palm Beach County, Florida, School Board, COP, Series A, 5% due 8/01/2031 (j) 2,272
1,435 Palm Coast, Florida, Utility System Revenue Bonds, 5% due 10/01/2027 (m) 1,475
3,500 Peace River/Manasota Regional Water Supply Authority, Florida, Utility System Revenue
Bonds, Series A, 5% due 10/01/2025 (j) 3,641
485 Pinellas County, Florida, HFA, S/F Housing Revenue Refunding Bonds (Multi-County
Program), AMT, Series A-1, 6.30% due 9/01/2020 (i) 486
735 Pinellas County, Florida, HFA, S/F Housing Revenue Refunding Bonds (Multi-County
Program), AMT, Series A-1, 6.35% due 9/01/2025 (i) 736
3,000 Pinellas County, Florida, Health Facilities Authority Revenue Bonds (BayCare Health
System Inc.), 5.75% due 5/15/2013 (n) 3,322
1,300 Polk County, Florida, Public Facilities Revenue Bonds, 5% due 12/01/2025 (m) 1,351
1,480 Polk County, Florida, Public Facilities Revenue Bonds, 5% due 12/01/2033 (m) 1,527
4,385 Polk County, Florida, School Board COP, Master Lease, Series A, 5.50% due 1/01/2025 (j) 4,645
1,200 Port Everglades Authority, Florida, Port Revenue Bonds, 7.125% due 11/01/2016 (e) 1,401
1,215 Port St. Lucie, Florida, Utility Revenue Bonds, 5.25% due 9/01/2025 (m) 1,297
3,500 Port St. Lucie, Florida, Utility System Revenue Refunding Bonds, Series A, 5% due
9/01/2029 (m) 3,629
1,325 Reedy Creek, Florida, Improvement District, Utilities Revenue Bonds, Series 1, 5%
due 10/01/2021 (b) 1,388
1,900 Saint Johns County, Florida, Ponte Vedra Utility System Revenue Bonds, 5% due
10/01/2030 (j) 1,966
2,400 Saint Johns County, Florida, Sales Tax Revenue Bonds, Series A, 5.25% due 10/01/2032 (b) 2,523
1,200 Saint Johns County, Florida, Sales Tax Revenue Bonds, Series A, 5.25% due 10/01/2034 (b) 1,260
1,015 Saint Johns County, Florida, Sales Tax Revenue Bonds, Series B, 5.25% due 10/01/2032 (b) 1,067
1,500 Santa Rosa County, Florida, School Board, COP, DRIVERS, Series 1293Z, 6.541% due
2/01/2014 (f)(h) 1,673
1,000 Seminole County, Florida, Sales Tax Revenue Bonds, Series A, 5% due 10/01/2031 (m) 1,028
4,250 South Broward, Florida, Hospital District Revenue Bonds, DRIVERS, Series 337, 7.29%
due 5/01/2032 (h)(m) 4,884
1,000 South Lake County, Florida, Hospital District Revenue Bonds (South Lake Hospital Inc.),
5.80% due 10/01/2034 1,036
1,150 South Lake County, Florida, Hospital District Revenue Bonds (South Lake Hospital Inc.),
6.375% due 10/01/2034 1,250
2,190 Sumter County, Florida, Capital Improvement Revenue Bonds, 5% due 6/01/2026 (b) 2,274
3,500 Sumter County, Florida, Capital Improvement Revenue Bonds, 5% due 6/01/2030 (b) 3,624
5,000 Tampa Bay, Florida, Water Utility System Revenue Bonds, 5.75% due 10/01/2011 (f)(n) 5,451
3,235 University of Central Florida (UCF) Athletics Association Inc., COP, Series A, 5.25%
due 10/01/2034 (f) 3,379
1,995 Village Center Community Development District, Florida, Recreational Revenue Bonds,
Series A, 5.375% due 11/01/2034 (m) 2,129
1,000 Village Center Community Development District, Florida, Recreational Revenue Bonds,
Series A, 5.125% due 11/01/2036 (m) 1,040
5,040 Village Center Community Development District, Florida, Utility Revenue Bonds, 5.125%
due 10/01/2028 (m) 5,225
1,000 Volusia County, Florida, IDA, Student Housing Revenue Bonds (Stetson University
Project), Series A, 5% due 6/01/2035 (d) 1,031
5,000 Volusia County, Florida, School Board, COP (Master Lease Program), 5.50% due
8/01/2024 (j) 5,270
Georgia - 1.7% 3,270 Atlanta, Georgia, Airport Passenger Facility Charge and Subordinate Lien General
Revenue Refunding Bonds, Series C, 5% due 1/01/2033 (j) 3,347
New Jersey - 3.6% 3,500 New Jersey EDA, Cigarette Tax Revenue Bonds, 5.50% due 6/15/2024 3,634
1,735 New Jersey EDA, Cigarette Tax Revenue Bonds, 5.75% due 6/15/2029 1,837
505 New Jersey EDA, Cigarette Tax Revenue Bonds, 5.50% due 6/15/2031 523
1,000 Tobacco Settlement Financing Corporation of New Jersey, Asset-Backed Revenue Bonds, 7%
due 6/01/2041 1,139
Puerto Rico - 4.0% 2,000 Puerto Rico Public Buildings Authority, Government Facilities Revenue Refunding Bonds,
Series I, 5% due 7/01/2036 2,016
1,715 Puerto Rico Public Finance Corporation, Commonwealth Appropriation Revenue Bonds,
Series E, 5.70% due 2/01/2010 (n) 1,823
4,025 Puerto Rico Public Finance Corporation, Commonwealth Appropriation Revenue Bonds,
Series E, 5.50% due 8/01/2029 4,208
Total Municipal Bonds (Cost - $287,525) - 149.6% 299,079
Shares
Held Short-Term Securities
6,871 CMA Florida Municipal Money Fund, 2.92% (l)(p) 6,871
Total Short-Term Securities (Cost - $6,871) - 3.4% 6,871
Total Investments (Cost - $294,396*) - 153.0% 305,950
Other Assets Less Liabilities - 2.0% 4,024
Preferred Shares, at Redemption Value - (55.0%) (110,051)
-----------
Net Assets Applicable to Common Shares - 100.0% $ 199,923
===========
* The cost and unrealized appreciation (depreciation) of investments
as of July 31, 2006, as computed for federal income tax purposes,
were as follows:
Aggregate cost $ 294,443
==============
Gross unrealized appreciation $ 11,947
Gross unrealized depreciation (440)
--------------
Net unrealized appreciation $ 11,507
==============
(a) ACA Insured.
(b) AMBAC Insured.
(c) Assured Guaranty Insured.
(d) CIFG Insured.
(e) Escrowed to maturity.
(f) FGIC Insured.
(g) FHLMC Collateralized.
(h) The rate disclosed is that currently in effect. This rate changes
periodically and inversely based upon prevailing market rates.
(i) FNMA/GNMA Collateralized.
(j) FSA Insured.
(k) GNMA Collateralized.
(l) Investments in companies considered to be an affiliate of the Fund,
for purposes of Section 2(a)(3) of the Investment Company Act of 1940,
were as follows:
Net Dividend
Affiliate Activity Income
CMA Florida Municipal Money Fund 6,371 $ 103
Merrill Lynch Institutional Tax-Exempt
Fund (500) --*
* Amount is less than $1,000.
(m) MBIA Insured.
(n) Prerefunded.
(o) Radian Insured.
(p) Represents the current yield as of July 31, 2006.
(q) Security may have a maturity of more than one year at time of issuance,
but has variable rate and demand features that qualify it as a short-term
security. The rate disclosed is that currently in effect. This rate changes
periodically based upon prevailing market rates.
Item 2 - Controls and Procedures
2(a) - The registrant's certifying officers have reasonably designed such
disclosure controls and procedures to ensure material information
relating to the registrant is made known to us by others particularly
during the period in which this report is being prepared. The
registrant's certifying officers have determined that the registrant's
disclosure controls and procedures are effective based on our
evaluation of these controls and procedures as of a date within 90
days prior to the filing date of this report.
2(b) - There were no changes in the registrant's internal control over
financial reporting (as defined in Rule 30a-3(d) under the Act
(17 CFR 270.30a-3(d)) that occurred during the last fiscal quarter of
the period covered by this report that has materially affected, or is
reasonably likely to materially affect, the registrant's internal
control over financial reporting.
Item 3 - Exhibits
Certifications - Attached hereto
Pursuant to the requirements of the Securities Exchange Act of 1934 and the
Investment Company Act of 1940, the registrant has duly caused this report
to be signed on its behalf by the undersigned, thereunto duly authorized.
MuniYield Florida Fund, Inc.
By: /s/ Robert C. Doll, Jr.
-----------------------
Robert C. Doll, Jr.
Chief Executive Officer
MuniYield Florida Fund, Inc.
Date: September 20, 2006
Pursuant to the requirements of the Securities Exchange Act of 1934 and the
Investment Company Act of 1940, this report has been signed below by the
following persons on behalf of the registrant and in the capacities and on
the dates indicated.
By: /s/ Robert C. Doll, Jr.
-----------------------
Robert C. Doll, Jr.
Chief Executive Officer
MuniYield Florida Fund, Inc.
Date: September 20, 2006
By: /s/ Donald C. Burke
-----------------------
Donald C. Burke
Chief Financial Officer
MuniYield Florida Fund, Inc.
Date: September 20, 2006