2009 CAFR - Laserfiche WebLink

Home

CITY OF ROSEVILLE NOTES TO FINANCIAL STATEMENTS DECEMBER 31, 2009 NOTE 4 - DETAILED NOTES ON ALL FUNDS (Continued) A. Deposits and investments (Continued) 3. Investments (Continued) Concentration risk — This is the risk associated with investing a significant portion of the City's investment (considered 5 percent or more) in the securities of a single issuer, excluding U.S. guaranteed investments (such as Treasuries), investment pools, and mutual funds. The City does not have an investment policy that limits the concentration of investments. The City holds 55% with Federal Home Loan Mortgage, 6% with Federal Home Bank, 31 % with Fannie Mae. Interest rate risk —This is the risk of potential variability in the fair value of fixed rate investments resulting from changes in interest rates (the longer the period for which an interest rate is fixed, the greater the risk). The City does not have an investment policy limiting the duration of investments. The City holds all investments to maturity. B. Receivables Governmental funds report deferred revenue in connection with receivables for revenues that are not considered available to liquidate liabilities of the current period. Governmental funds also defer revenue recognition in connection with resources that have been received, but not yet earned. At the end of the current fiscal year, the various components of deferred revenue and unearned revenue reported in the governmental funds were as follows: Special assessments not yet due (G. 0. improvement bonds) Special assessments not yet due (Street construction) Grant drawdown prior to meeting all eligibility requirements (Street Construction) Tower lease payment paid early (Information Technology) Total deferred /unearned revenue for governmental funds 57 Unavailable Unearned $ 934,997 981,725 180,986 24,936 S 1.916.722 S 205.922