Laserfiche WebLink
CITY OF ROSEVILLE, MINNESOTA <br />NOTES TO FINANCIAL STATEMENTS <br />December 31, 2016 <br />estimated useful lives and reported as depreciation expense." The details of this difference are as <br />follows: <br />Capital outlay <br />Depreciation expense <br />Net change m fund-balances-total governmental funds and change <br />m net position of governmental activities <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, 2016 consist of the following: <br />Deposits <br />Investments <br />Cash on Hand <br />Total <br />$ 13,532,135 <br />37,970,719 <br />11,300 <br />$ 51,514,154 <br />Cash and investments are presented in the financial statements as follows: <br />Statement ofNet Positions - Government Wide <br />Cash and cash equivalents <br />Restricted mvestments <br />Statement of Fiduciary Net Posititons <br />Cash and cash equivalents - Agency Funds <br />Total <br />$ 5,530,335 <br />(4,726,975) <br />$ 803,360 <br />$ 49,234,038 <br />1,647,293 <br />632,823 <br />$ 51,514,154 <br />In accordance with applicable Minnesota Statutes, the City maintains deposits at depository banlcs <br />authorized by the Ciry Council, including checl�ing 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 />50 <br />