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CITY OF LINO LAKES, MINNESOTA
<br />NOTES TO FINANCIAL STATEMENTS
<br />December 31, 2016
<br />f) Repurchase or reverse repurchase agreements with banks that are members of the Federal Reserve
<br />System with capitalization exceeding $10,000,000; a primary reporting dealer in U.S. government
<br />securities to the Federal Reserve Bank of New York; certain Minnesota securities broker-dealers;
<br />or, a bank qualified as a depositor.
<br />g) General obligation temporary bonds of the same governmental entity issued under section 429.091,
<br />subdivision 7; 469.178, subdivision 5; or 475.61, subdivision 6.
<br />As of December 31, 2016, the City had the following investments and maturities:
<br />Investment Maturities (in Years)
<br />Fair Less
<br />Investment Type Rating Value Than 1 1 - 5 6 - 8
<br />Wells Fargo money market NR $3,759,721 $3,759,721 $ $
<br />4M Fund NR 9,653,494 9,653,494
<br />Mutual funds NR 1,782,066 1,782,066
<br />Brokered CD's NR 12,395,765 3,898,818 7,123,353 1,373,594
<br />Municipal bonds * 11,963,565 2,849,918 8,049,217 1,064,430
<br />Federal Home Loan Mortgage Corp. AAA 485,360 - - 485,360
<br />Total $40,039,971 $21,944,017 $15,172,570 $2,923,384
<br />NR - Not Rated Total investments $40,039,971
<br />* AAA $2,191,736; AA+ $1,261,057 Deposits 2,872,639
<br />AA $2,888,737; AA- $5,494,900 Petty cash 820
<br />A+ $127,135 Total cash and investments $42,913,430
<br />These amounts are presented in the financial statements as follows:
<br />Cash and investments:
<br />Governmental and business -type (Statement 1) $42,088,057
<br />Fiduciary (Statement 10) 825,373
<br />Total $42,913,430
<br />The City categorizes its fair value measurements within the fair value hierarchy established by generally
<br />accepted accounting principles. The hierarchy is based on the valuation inputs used to measure the fair
<br />value of the asset. The hierarchy has three levels. Level 1 investments are valued using inputs that are
<br />based on quoted prices in active markets for identical assets. Level 2 investments are valued using
<br />inputs that are based on quoted prices for similar assets or inputs that are observable, either directly or
<br />indirectly. Level 3 investments are valued using inputs that are unobservable.
<br />667.7
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