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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 (Continued) <br />A. Deposits and investments (Continued) <br />2. Investments (Continued) <br />Custodial credit risk — For investments, this is the risk that in the event of a failure of the counterparty <br />to an investment transaction (typically a broker - dealer) the City would not be able to recover the <br />value of its investments or collateral securities that are in the possession of an outside party. The <br />City's investment policy does not further address this risk, but the City typically limits its exposure <br />by purchasing insured or registered investments, or by the control of who holds the securities. <br />Concentration risk — This is the risk associated with investing a significant portion of the City's <br />investment (considered 5 percent or more) in the securities of a single issuer, excluding U.S. <br />guaranteed investments (such as Treasuries), investment pools, and mutual funds. The City's <br />investment policy does not limit the concentration of investments. The City holds 27% with Federal <br />Home Bank, 64% with Fannie Mae, and 9% with Federal Farm Credit Bank. <br />Interest rate risk —This is the risk of potential variability in the fair value of fixed rate investments <br />resulting from changes in interest rates (the longer the period for which an interest rate is fixed, the <br />greater the risk). The City's investment policy does not address interest rate risk. The City holds all <br />investments to maturity. <br />B. Receivables <br />Governmental funds report deferred inflows of resources in connection with receivables for revenues that <br />are not considered available to liquidate liabilities of the current period. Governmental funds also defer <br />recognition in connection with resources that are not yet available. At the end of the current fiscal year, <br />the various components of deferred inflows reported in the governmental funds were as follows: <br />Unavailable <br />Delinquent property taxes (General) <br />$ 178,271 <br />Delinquent property taxes (Recreation) <br />36,234 <br />Delinquent propety taxes (Debt service) <br />26,946 <br />Delinqeunt property taxes (Revolving improvlements) <br />29,134 <br />Delinquent propety taxes (Economic development) <br />184,460 <br />Special assessments not yet due (G.O. improvement bonds) <br />501,661 <br />Special assessments not yet due (Street construction) <br />707,903 <br />Total deferred inflows for governmental funds $ 10409 <br />56 <br />
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