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<br />CITY OF CENTERVILLE, MINNESOTA <br />NOTES TOFINANCLAL STATEMENTS <br />DECEMBER 31, 2003 <br /> <br />Note 3: DETAILED NOTES ON ALL FUNDS <br /> <br />A. Deposits and Investments <br /> <br />At year end, the City's carrying amount of deposits was $6,825,366 and the bank balance was $6,862,799. Of the <br />bank balance, $583,776 was covered by federal depository insurance or by collateral held by the City's agent in the <br />City's name. The remaining balance of$6,279,023 was collateralized with securities held by the pledging financial <br />institution's trust department or agent in the City's name. <br /> <br />Investments are categorized into these three categories of credit risk: <br /> <br />1. Insured or registered, or securities held by the City or its agent in the City's name. <br /> <br />2. Uninsured and unregistered, with securities held by the counterparty's trust department or agent in the <br />City's name. <br /> <br />3. Uninsured and unregistered, with securities held by the counterparty, or by its trust department or agent, but <br />not in the City's name. <br /> <br />At year end, the City's investment balances were as follows: <br /> <br />1 <br /> <br />Category <br />2 <br /> <br />3 <br /> <br />Reported <br />Amount! <br />Fair Value <br /> <br />U.S. Government securities <br /> <br />$ 1.643.229 $ <br /> <br />- $ <br /> <br />- $ 1.643.229 <br /> <br />Investments not subject to categorization: <br />Broker money market account <br />4M Investment Pool <br /> <br />7,314 <br />5.060 <br /> <br />Total investments <br /> <br />$ 1.655.603 <br /> <br />Total cash and investments <br /> <br />Deposits <br />Investments <br />Petty cash <br /> <br />$ 6,825,366 <br />1,655,603 <br />200 <br /> <br />Total cash and investments <br /> <br />$ 8.481.169 <br /> <br />-22- <br />