Laserfiche WebLink
CITY �F ROSEVILLE. MINMESOTA <br />MOTES TO FINAMCUI STATEXENTS (COMTINUED) <br />pECEpBER 37. 1991 <br />Mote 3- Eaoerditures in Exeess of BWaet erd DefiNts in Fvd Balanees <br />The Lity x�lt Debt Servie� ivd - 1991 fvd Wlenee inereas�d tt's deficit of f793 to s totel of 52,675. This <br />intreese was due to an wntieipetad �eduction in prop�rty taxw reeeivad. <br />Mo ranedi�l aetion is requirad for these exeess exparditurn o� fvd deficits. The fvd defieits sre expectcd <br />to he elin�ineted throuph revarwes in futu�e yesn. - <br />Mote 4- Cash end Tenoorerv Investments <br />Caah surpluses ere pootM �nd irweated tn eertifiaates of deposit ard short•term goverrment sewrities. <br />Imest�nant earni�ps �re allxstsd to fvds on ehe b�sis of �wr�pe ush 6al�nees or speeifieally ia the case <br />of restrictad yield fvds. Irnestma�ts are atatad �t ewt, whieh approxirtn nrrket, end ere not idmtified <br />rith apaeific fvds �ith exeeption of eertain dabt servtee fvds rf�ieh are sibjxt to rest�ieted yield. In <br />those imtsnen, spacifie imrestments are seeurad K belor �rbitr�pe r�tn. <br />Cash ard tenQonry imest�ents at year and ea�siats of tbe folla+inp: <br />Repurcheae a9reementa <br />U.S. Governnent secu�itiea <br />Total irnestmmts <br />Bank deposita ineluding <br />certifieates of deposit <br />with meturitiee rithin <br />three months <br />Petty Cash erd ehange fvds <br />Toisl Cash and Deposits <br />Total Gah and [rnestmente <br />�arrvire Value <br />S 4,000,000 <br />25.6273T8 <br />S 29.627.378 <br />f 648,911 <br />2.695 <br />S 651,606 <br />530.278.984 <br />Market Vatue <br />S 4,000,000 <br />28.564.191 <br />532.564.991 <br />In aecordance �ith appticable Mimesota statutea, che City nrintsinn deposits st deposicory benks euthorized <br />by the City Caneil. <br />Mimeaate Statutes require thet sll deposits be protected by ireurence, surcty bord or collatarel. It <br />cotlaterd is pledped �s protection for the deposita, the rrket wlue of the coUateret must si a minimm be <br />110% of the deposits not covered by iruurenoe or bords (140X in esae of mortpepe rwies pledpcd). All funds <br />an deposit at the Aepositories wre fully insured and/or coltsteralizcd by eollaterat held in sefekeeping hy <br />the City'� �pent in tbe City's newe. <br />The City imests onty in debt oblipetians uhich �re wthor hed uder Stete Stetutes. State Statu[es permit <br />n�nicip�t imestments in direct U. S. qoverrvnent ablip�tiau, fadent �qency isaues, shares of mutuel tvds <br />inveatirg exclusively Sn U.S. 9a�errvnmt and �qency fesues, abli9�tiane of State of Mimesota or Minnesote <br />innicip�ti[iea, b�nkers xceptence�, hiqhest qualitY comnercisl peper, end interest bearinq Aeposits. <br />36 <br />