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ELK RIVER MUNICIPAL UTILITIES <br />ELK RIVER, MINNESOTA <br />NOTES TO FINANCIAL STATEMENTS <br />DECEMBER 31.2010 AND 2009 <br />Note 2: DETAILED NOTES ON ALL FUNDS -CONTINUED <br />Investments <br />The Utilities' investment balances were as follows for December 31, 2010: <br />of Investments <br />Pooled investments <br />Broker Money Markets <br />Non-pooled investments <br />U.S. Govemment Agency Securities <br />Brokered CD's <br />Brokered CD's <br />Brokered CD's <br />Total non-pooled investments <br />Total investments <br />Credit Segmented <br />Quality/ Time <br />Ratings (1) Distribution (2) <br />Fair Value <br />and <br />Carrying <br />N/A less than 6 months $ 20,193 <br />AAA I [0 3 years <br />AAA more than 3 years <br />N/A less than 6 months <br />N/A 6 months to 1 year <br />N/A 1 to 3 years <br />l . Rating were provided by Moody's <br />2. Interest rate risk is disclosed using the segmented time distribution method. <br />N/A Indicates not applicable or available <br />The Utilities' investment balances were as follows for December 3l, 2009: <br />401,513 <br />479,759 <br />55,000 <br />786,456 <br />1,251,956 <br />2,974,684 <br />$ 2,994,877 <br /> Fair Value <br /> Credit Segmented and <br /> Quality/ Time Carrying <br />Types of Investments Ratings (1) Distribution (2) Amount <br /> <br />Pooled investments <br />Broker Money Markets N/A less than 6 months $ 1,053,828 <br />Non-oooled investments <br />U.S. Treasuries N/A less than 6 months 2,588,901 <br />U.S. Government Agency Securities AAA 1 to 3 years 405,109 <br />Brokered CD's N/A less than 6 months 64,000 <br />Brokered CD's N/A 6 months to 1 year 42,000 <br />Brokered CD's N/A 1 to 3 years 1,033,296 <br />Total non-pooled investments 4,133,306 <br />Total investments $ 5,187,134 <br />l . Ratings were provided by Moody's <br />2. Interest rate risk is disclosed using the segmented time distribution method <br />N/A Indicates not applicable or available. <br />-37- <br />