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CITY OF LINO LAKES, MINNESOTA
<br />NOTES TO FINANCIAL STATEMENTS
<br />December 31, 2017
<br />At December 31, 2017, the City had the following investments and maturities:
<br />Investment Maturities (in Years)
<br />Fair
<br />Less
<br />Investment Type
<br />Rating
<br />Value
<br />Than 1
<br />1 - 5
<br />6 - 8
<br />Wells Fargo money market
<br />NR
<br />$4,275,289
<br />$4,275,289
<br />$
<br />$ -
<br />Morgan Stanley money market
<br />NR
<br />24,165
<br />24,165
<br />-
<br />4M Fund
<br />NR
<br />7,207,927
<br />7,207,927
<br />-
<br />-
<br />Brokered CD's
<br />NR
<br />16,419,585
<br />6,887,755
<br />8,413,876
<br />1,117,954
<br />Municipal bonds
<br />*
<br />10,908,237
<br />1,568,897
<br />8,746,306
<br />593,034
<br />Federal Home Loan Mortgage Corp.
<br />AAA
<br />1,482,210
<br />-
<br />-
<br />1,482,210
<br />Total
<br />$40,317,413
<br />$19,964,033
<br />717,160,182
<br />$3,193,198
<br />NR - Not Rated
<br />Total investments
<br />$40,317,413
<br />* AAA $1,975,589; AA+ $463,359
<br />Deposits
<br />257,836
<br />AA $3,507,002; AA- $2,967,505
<br />Petty cash
<br />940
<br />A+ $710,532
<br />Total cash and investments
<br />$40,576,189
<br />These amounts are presented in the financial statements as follows:
<br />Cash and investments:
<br />Governmental and business -type (Statement 1) $38,856,678
<br />Fiduciary (Statement 10) 1,719,511
<br />Total $40,576,189
<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 />6SI
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