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2012 CAFR
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2012 CAFR
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CITY OF ROSEVILLE <br />NOTES TO FINANCIAL STATEMENTS <br />DECEMBER 31, 2012 <br />NOTE 4 - DETAILED NOTES ON ALL FUNDS <br />A. Deposits and investments <br />1. Components of Cash and Investments <br />Cash and investments at year -end consist of the following: <br />Deposits <br />Investments <br />Cash on hand <br />Total <br />$ 22,857,798 <br />46,556,205 <br />8,639 <br />$ 69,422,642 <br />Cash and investments are presented in the financial statements as follows: <br />Statement of Net Positions - Government Wide <br />Cash and cash equivalents - Primary Government <br />Cash and cash equivalents - Component Unit <br />Restricted investments - Primary Government <br />Restricted investments - Component Unit <br />Statement of Fiduciary Net Positions <br />Cash and cash equivalents - Agency Funds <br />Total <br />$ 64,713,291 <br />840,452 <br />2,824,842 <br />523,596 <br />520,461 <br />$ 69,422,642 <br />In accordance with applicable Minnesota Statutes, the City maintains deposits at depository banks <br />authorized by the City Council, including checking accounts and certificates of deposits. <br />The following is considered the most significant risk associated with deposits: <br />Custodial credit risk — In the case of deposits, this is the risk that in the event of a bank failure, the <br />City's deposits may be lost. Minnesota Statutes require that all deposits be protected by federal <br />deposit insurance, corporate surety bond, or collateral. The market value of collateral pledged must <br />equal 110% of the deposits not covered by federal deposit insurance or corporate surety bonds. <br />Authorized collateral includes treasury bills, notes, and bonds; issues of U.S. government agencies; <br />general obligations rated "A" or better; revenue obligations rated "AA" or better; irrevocable <br />standard letters of credit issued by the Federal Home Loan Bank; and certificates of deposit. <br />Minnesota Statutes require that securities pledged as collateral be held in safekeeping in a restricted <br />account at the Federal Reserve Bank or in an account at a trust department of a commercial bank or <br />other financial institution that is not owned or controlled by the financial institution furnishing the <br />collateral. The City's investment policy has no additional deposit policies addressing custodial credit <br />risk. <br />54 <br />
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