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CITY OF ROSEVILLE, MINNESOTA <br />NOTES TO FINANCIAL STATEMENTS <br />December 31, 2021 <br />B.Explanation of certain differences between the governmental fund statement of revenues, <br />expenditures and changes in fund balances and the governmental-wide statement of activities <br />governmental fund statement of revenues, expenditures, and changes in fund balances includes <br />reconciliation between net changes in fund balances-total governmental funds and change in net <br />position of governmental activities as reported in the government-wide statement of activities. One <br />expenditures. However, in the statement of activities the cost of those assets is allocated over their <br />follows: <br />Note3DETAILED NOTES ON ALL FUNDS <br />A.Deposits and investments <br />1.Components ofCash and Investments <br />Cash and investments at year-end December 31, 2021consist of the following: <br />Deposits$2,043,805 <br />Investments50,361,942 <br />MV Adjustment488,944 <br />Cash on Hand11,300 <br />Total$52,905,991 <br />Cash and investments at year-end December 31, 2021consist of the following: <br />Statement of Net Positions - Government Wide <br />Cash and cash equivalents$52,817,335 <br />Statement of Fiduciary Net Positions <br />Cash and cash equivalents - Custodial Funds88,656 <br />Total $52,905,991 <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 />51 <br /> <br />