Laserfiche WebLink
NOTE- 2— DEPOSITS' ANDINVESTMENTS (CONTINUED) <br />C. Investments <br />The City has•the following investments.at Year-end: <br />Interest Risk — Maturitv.Duration in Years <br />Fair Value <br />No <br />Credit Risk <br />Measurcmezits <br />Maturity <br />Uss <br />Investment Type <br />Rating <br />Agency <br />Using <br />Date: <br />Than 1 <br />I to 5 <br />Total <br />Municipal bonds <br />AA <br />Moody's <br />Level 2 <br />$ - <br />5 - <br />S 139,062 <br />S. 139.062 <br />Municipal bands <br />AA <br />S&P <br />Leven 2 <br />- <br />- <br />506,921 <br />50.61822 <br />Negotiable certificates ofdq)osit <br />N/R <br />NA <br />Level.2 <br />- <br />318.34 <br />188;337 <br />51(055 <br />Investtnentpooisltnutual funds <br />Aa>A <br />.Moody's <br />N:AV <br />1�6,537 <br />16,537. <br />Total. invcstinents. <br />S 16,537 <br />S 328.518 <br />5 834.220 <br />S11179.276 <br />N R - Not hated <br />NiA - Not Applicable <br />NAV. --- Net Asset. Val.uc; No Unfunded E ommittaents, No. Redemption Restrictioi)q <br />Investments are -subject to various risks, the following of which a0e considered th6-mlostsigniffaant:* <br />-Custodial Credit Risk — For investments, this is -the risk; that. in .the event of :a failure of the <br />countetparly to. an -investment transaction (typically a broker:dealer), the City. -v•\-ould not, be able to <br />recover. the value .Qf its investments or collateral securities that are in the possession :nf ari outside <br />party. The Gity'*investment. policy does. not further address this risk. <br />Credit Risk— This is the risk that an issuer or other counterparty to an investment will.. not fulfill. its <br />obligations. Minnesota Statutes limit the City's investments to direet obligations or obligations <br />buaranteed by the United Mates or its agencies; shares of investment companies registered under the <br />Federal -Investment Company Act of 1940 that receive the highest credit rating, are rated in one.of the <br />two highest rating categories by a statistical rating Agency, and all of the investments Have a final <br />tnatuiity•of•l:3 months or less; general obligations rated `.A" or better; revenue. obi igations-rated "AA" <br />or better,•generarl obligations of the Minnesota Housing Finance Agency rated "A" or better; bankers' <br />acceptances of United States barnks eligible for purchase by the Federal Resen'eystem; commercial <br />pap <br />er•issued by United States corporations or their Canadian subsidiaries,. rated. of the -highest quality <br />category by at least nvo nationally recognized rating agencies, and maturing- in 270 dais 'or less: <br />Guaranteed .lovestment Contracts guaranteed by it United States commercial.bank, doinestic b>iang4 of <br />a foreign bank; or a Uriittd• States insurance company, :and with .a credit quality in one -of the top <br />two highest categories: repurchase orreverse purchase agreements and securities .lending agreements <br />with financial institutions qualified as a "depository" by .the government entity, with banks that. are <br />members of the Federal. Re.se>Ive System with capitalization exceeding .-$10,000,0.00;. that are a <br />primary reporting dealer in U.S. government.securities to the Federal Reserve Batik -of New York; or <br />certain Minnesota •securities broker -dealers. The City's investment policy does not further address <br />credit risk. <br />