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CITY OF ROSEVILLE, MINNESOTA
<br /> NOTES TO FINANCIAL STATEMENTS
<br /> December 31, 2016
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<br /> bonds. Authorized collateral includes treasury bills, notes, and bonds; issues of U.S. government
<br /> agencies; general obligations ra t e d “ A ” o r b e t t e r ; r e v e n u e o b ligations 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 /> institution furnishing the collateral. The City’s investment policy has no additional deposit
<br /> addressing custodial credit risk.
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<br /> 2. Deposits
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<br /> At year-end, the carrying amount of the City’s deposits was $13,532,135 while the balance on the
<br /> bank records was $13,547,178. At December 31, 2016, all deposits were covered by federal
<br /> depository insurance, or by collateral held by the City’s agent in the City’s name.
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<br /> 3. Investments
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<br /> The City has the following investments at year-end December 31, 2016:
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<br />Less Over
<br />Investment Type Than 1 1-5 6-10 10 Years Total
<br />U.S. agency securities $ - $8,539,684 $14,617,000 $14,592,946 $37,749,630
<br />Stock funds-Fidelity $ - $144,902 $ - $ - $144,902
<br />Bond funds-Fidelity $ - $74,958 $ - $ - $74,958
<br />Short-term funds-Fidelity $ - $1,229 $ - $ - $1,229
<br /> Total investments in cash and investment pool $0 $8,760,773 $14,617,000 $14,592,946 $37,970,719
<br />Investment Maturities (in Years)
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<br />Included in the total investment pool of $37,970,719 is an investment pool with Fidelity
<br />Investments of $221,089 of the Roseville Visitor’s Association, in which the City is a fiduciary
<br />agent. The remaining amount of $37,749,630 belongs to the City.
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<br />The City has the following recurring fair value measurements as of December 31, 2016:
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<br /> U.S. agency securities of $37,749,630 are valued using a matrix pricing model (Level 2
<br />inputs)
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<br /> Stock funds-Fidelity of $144,902 are valued using a quoted market prices (Level 1 inputs)
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<br /> Bond funds-Fidelity of $74,958 are valued using a quoted market prices (Level 1 inputs)
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<br /> Short -term funds-Fidelity of $1,229 are valued using a quoted market prices (Level 1 inputs)
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<br />Item 8: Attachment D
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