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Asset Allocation <br /> The following table and graph indicates the asset allocation for December 31,2012 and 2011. <br /> December 31, <br /> 2012 2011 <br /> Cash and CD's $ 68,696 2.8 % $ 72,669 3.2 % <br /> Broker money market 196,744 8.0 248,604 11.0 <br /> Domestic stock 1,172,719 47.8 1,236,456 54.5 <br /> Mutual funds 1,016,949 41.4 707,946 31.3 <br /> Total cash and investments $ 2,455,108 100.0 % $ 2,265,675 100.0 % <br /> Cash and CD's Broker money market <br /> 2.8% 8.0% <br /> Mutual funds <br /> 41.4% <br /> Domrestic stock <br /> 47.8% <br /> Investment Activities <br /> Investment income is vital to the Plan's current and continued financial stability.Therefore,the Board of Trustees has a fiduciary <br /> responsibility to act prudently when making Plan investment decisions.Portfolio performance is reviewed quarterly by the Board of <br /> Trustees.The Association also has an active Investment Committee to broaden its attention to asset allocation and fund returns. <br /> Economic Factors <br /> The primary function of the pension trust is to(a)appropriately award and pay benefits and(b)manage investments.The opportunity <br /> available considering various investment choices is invaluable in the asset allocation and money manager oversight. <br /> Contacting the Plan's Financial Management <br /> The financial report is designed to provide citizens,taxpayers,plan participants and the marketplace's credit analysis with an <br /> overview of the Plan's finances and the prudent exercise of the Board's oversight.If you have any questions regarding this report <br /> or need additional financial information,please contact the Elk River Fire Relief Association, 13065 Orono Parkway, <br /> Elk River,Minnesota 55330. <br /> -17- <br />