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CITY OF ROSEVILLE NOTES TO FINANCIAL STATEMENTS DECEMBER 31, 2006 NOTE 6 - INVESTMENT TRUST The North Suburban Cable Commission, a separate joint-powers agency, which includes Roseville and nine other cities, voluntarily maintains its excess funds with the City to invest and earn interest. The City provides for an investment trust and accounts for the funds accordingly. There is no direct regulatory oversight of the fund by any other agency, except the investments are in accordance with Minnesota State Statutes, which provides for public funds treatment, and thus are restricted within the statutes. The Trust's cash is pooled with the City's funds, and disclosed as part of these notes to basic statements. The fair value is determined on a monthly basis but is only booked to the investment trust at the end of the calendar fiscal year of the City. The method of determining the values and shares of the Commission in the investment trust is the same pro -rata monthly average cash method employed with all other city funds. The City provides no other guarantees other than the underlying securities, which are restricted as per state statutes. As of December 31, 2006, the fair value (carrying value) of the commission investment trust is $1,23 8,841. No separate report(s) are issued. Condensed financial statements of the investment pool are as follows: COMBINING STATEMENT OF NET ASSETS For the Year Ended December 31, 2006 LIABILITIES NET ASSETS Held in trust for pool participants $40,6711575 $ 1,235,841 $4L910z419 74 Internal External Investment Investment Pool fool City of North Suburban Roseville Cable Commission Total ASSETS Cash and cash equivalents $40,414,702 $ 1,13 6, 710 $41555 1 ,412 Investment interest receivable 256,576 6,395 263,271 Accounts Receivable - 95,735 95,736 Total Assets 40,671,575 1,23 8,841 41,910,419 LIABILITIES NET ASSETS Held in trust for pool participants $40,6711575 $ 1,235,841 $4L910z419 74