CITY OF ROSEVILLE, MINNESOTA
<br />NOTES TO FINANCIAL STATEMENTS
<br />December 31, 2016
<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 />institution furnishing the collateral. The City's investment policy has no additional deposit
<br />addressing custodial credit risk.
<br />2. Deposits
<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.
<br />3. Investments
<br />The City has the following investments at year-end December 31, 2016:
<br />Inveshnent Maturities (in Years)
<br />Less Over
<br />lnvestinent Tvpe 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 />Stockfunds-Fideliry $ - $144,902 $ - $ - $144,902
<br />Bond funds-Fidelity $ - $74,95A $ - $ - $74,958
<br />Short-termfunds-Fidelity $ - $1,229 $ - $ - $1,229
<br />Totalinvestments in cash and investment pool $0 $8,760,773 $14,617,000 $14,592,946 $37,970,719
<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 Ciry.
<br />The City has the following recurring fair value measurements as of December 31, 2016:
<br />• U.S. agency securities of $37,749,630 are valued using a matrix pricing model (Leve12
<br />inputs)
<br />• Stock funds-Fidelity of $144,902 are valued using a quoted market prices (Level 1 inputs)
<br />• Bond funds-Fideliry of $74,958 are valued using a quoted market prices (Level 1 inputs)
<br />• Short -term funds-Fidelity of $1,229 are valued using a quoted market prices (Level 1 inputs)
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