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<br />- 20 - <br />FUNDS ON HAND <br />As of August 31, 2016 <br /> <br /> <br />General Fund $ 5,401,634 <br />Special Revenue Funds 298,376 <br />Capital Project Funds 9,317,197 <br />Enterprise Fund 13,315,700 <br />Debt Service Funds 1,951,118 <br />Agency Funds 994,437 Total Cash and Investments $31,278,462 <br /> <br /> <br /> <br />INVESTMENTS <br /> <br /> <br />As of August 31, 2016, the City had total investments of $31,278,462, invested in the following manner: <br /> <br /> Percent of <br /> Portfolio <br /> <br />Checking/CDs/money market $16,244,124 51.9% <br />U.S. treasuries and agencies 491,706 1.6 <br />Government mutual funds 1,773,166 5.7 <br />Bonds 12,769,466 40.8 <br /> <br />Total $31,278,462 100.0% <br /> <br />In October 1997, the City adopted an investment policy that is in accordance with Minnesota <br />Statutes 118A. Some highlights of the City’s investment policy are as follows: <br /> <br />1. The primary objective is the safety of the principal. Investments shall be undertaken in a <br />manner that seeks to ensure the preservation of capital in the overall portfolio. The objective <br />will be to mitigate credit risks and interest rate risk. <br /> <br />a. Investments will be limited to those investments specified in Minnesota <br />Statutes 118A. <br /> <br />b. Annually appointing the financial institutions, brokers/dealers, intermediaries and <br />advisors. <br /> <br />c. Diversifying the investment portfolio so that potential losses on individual securities <br />will be minimized. <br /> <br />d. Investing funds in primarily shorter-term securities. <br /> <br />2. The secondary objective is to have the portfolio remain sufficiently liquid to meet all operating <br />requirements that may be reasonably anticipated. <br /> <br />3. The third objective is to attain a market rate of return through budgetary and economic cycles, <br />taking into account the investment risk constraints and liquidity needs. <br />