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Elk River Municipal Utilities <br />Elk River, Minnesota <br />Notes to the Financial Statements <br />December 31, 2024 <br />Note 2: Detailed Notes on All Funds (Continued) <br />Investments <br />The Utilities' investment balances were as follows for December 31, 2024: <br />Credit Segmented <br />Quality/ Time <br />Types of Investments Ratings (1) Distribution (2) <br />Pooled Investments <br />Broker Money Markets N/A less than 1 year <br />Non -pooled Investments <br />Fair Value Measurement Using <br />Amount Level Level Level <br />$ 5,086,050 $ $ $ <br />Negotiable certificates of deposits <br />N/A <br />less than 1 year <br />954,262 <br />954,262 <br />Negotiable certificates of deposits <br />N/A <br />1 - 5 years <br />2,648,853 <br />2,648,853 <br />Asset backed securities <br />N/A <br />1 - 5 years <br />2,247,693 <br />2,247,693 <br />Asset backed securities <br />N/A <br />more than 5 years <br />238,685 <br />238,685 <br />Total Non -pooled Investments <br />6,089,493 <br />6,089,493 <br />Total Investments <br />$ 11,175,543 $ <br />$ 6,089,493 $ <br />(1) Ratings were provided by various credit rating agencies where applicable to indicate associated credit risk. <br />(2) Interest rate risk is disclosed using the segmented time distribution method. <br />N/A Indicates not applicable. <br />A reconciliation of cash and temporary investments as shown in the financial statements for the Utilities follows: <br />Deposits <br />Investments <br />Cash on Hand <br />Total <br />Cash and Temporary Investments <br />Unrestricted <br />Restricted <br />2024 <br />$ 13,578,803 <br />11,175,543 <br />800 <br />$ 24,755,146 <br />$ 22,976,130 <br />1,779,016 <br />Total $ 24,755,146 <br />36 <br />99 <br />