Laserfiche WebLink
<br />I <br /> <br />I <br /> <br />I <br /> <br />I <br /> <br />I <br /> <br />I <br /> <br />I <br />I <br /> <br />I <br />I <br /> <br />I <br />I <br /> <br />I <br />I <br /> <br />I <br />I <br /> <br />I <br /> <br />I <br /> <br />I <br /> <br />CITY OF ELK RIVER, MINNESOTA <br />NOTES TO FINANCIAL STATEMENTS <br />DECEMBER 31,2005 <br /> <br />Note 3: DETAILED NOTES ON ALL FUNDS - CONTINUED <br /> <br />City's investment policy requires the investment maturities to be staggered to avoid concentration at a specific <br />maturity sector. The maturities selected shall provide for stability of income and reasonable liquidity. <br /> <br />As of December 31,2005, the City had the following investments that are insured or registered, or securities held by the <br />City or its agent in the City's name. <br /> <br />Types of Investments <br />Pooled investments: <br />Minnesota Municipal Money Market Fund <br /> <br />Credit <br />Quality/ <br />Ratings (1) <br /> <br />Segmented <br />Time <br />Distribution (2) <br /> <br />N/A <br /> <br />Less than 6 months <br /> <br />Total pooled investments <br /> <br />Non-pooled investments: <br />U.S. Government Securities <br /> <br />AAA <br />AAA <br />AAA <br />AAA <br /> <br />Less than 6 months <br />6 to 12 months <br />1 to 5 years <br />More than 5 years <br /> <br />Total U.S. Government Securities <br /> <br />Commercial Paper <br /> <br />PI <br /> <br />Less than 6 months <br /> <br />Negotiable CD's <br /> <br />N/A <br /> <br />Less than 6 months <br /> <br />Total non-pooled investments <br /> <br />Total investments <br /> <br />Deposits <br />Cash on hand <br /> <br />Total cash and investments <br /> <br /> Fair Value <br /> and <br /> Carrying <br /> Amount <br />$ 2,224,042 <br /> 2,224,042 <br /> 5,917,674 <br /> 1,335,142 <br /> 5,815,433 <br /> 3,258,209 <br /> 16,326,458 <br /> 18,752,933 <br /> 1,345,715 <br /> 36,425,106 <br /> 38,649,148 <br /> 4,585,183 <br /> 6,770 <br />$ 43,241,101 <br /> <br />(1) Ratings are 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 /> <br />42 <br />