Laserfiche WebLink
CITY OF ROSEVILLE,MINNESOTA <br /> NOTES TO FINANCIAL STATEMENTS <br /> December 31, 2014 <br /> Note 3 DETAILED NOTES ON ALL FUNDS <br /> A. Deposits and investments <br /> 1. Components of Cash and Investments <br /> Cash and investments at year-end December 31, 2014 consist of the following: <br /> Deposits $ 14,605,176 <br /> Investments 45,027,534 <br /> Cash on Hand 8,625 <br /> Total $ 59,641,335 <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 $53,876,377 <br /> Cash and cash equivalents - Component Unti 1,691,033 <br /> Restricted investments - Primary Government 2,956,152 <br /> Restricted investments - Component Unit 637,611 <br /> Statement of Fiduciary Net Posititons <br /> Cash and cash equivalents - Agency Funds 480,162 <br /> Total $59,641,335 <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 <br /> must equal 110% of the deposits not covered by federal deposit insurance or corporate surety <br /> bonds. Authorized collateral includes treasury bills, notes, and bonds; issues of U.S. government <br /> agencies; general obligations rated "A" or better; revenue obligations rated "AA" or better; <br /> irrevocable standard letters of credit issued by the Federal Home Loan Bank; and certificates of <br /> deposit. Minnesota Statutes require that securities pledged as collateral be held in safekeeping in <br /> a restricted account at the Federal Reserve Bank or in an account at a trust department of a <br /> commercial bank or other financial institution that is not owned or controlled by the financial <br /> 50 <br />