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<br />- 17 - <br />FUNDS ON HAND <br />As of August 31, 2018 <br /> <br /> <br />General Fund $ 6,034,069 <br />Special Revenue Funds 453,833 <br />Capital Project Funds 11,646,898 <br />Enterprise Fund 14,637,913 <br />Debt Service Funds 5,002,743 <br />Agency Funds 1,737,323 <br /> Total Cash and Investments $39,512,779 <br /> <br /> <br /> <br />INVESTMENTS <br /> <br /> <br />As of August 31, 2018, the City had total investments of $39,512,779, invested in the following manner: <br /> <br /> Percent of <br /> Portfolio <br /> <br />Checking/CDs/money market $27,832,569 70.5% <br />U.S. treasuries and agencies 1,473,426 3.7 <br />Bonds 10,206,784 25.8 <br /> <br />Total $39,512,779 100.0% <br /> <br />In October 1997, the City adopted an investment policy that is in accordance with Minnesota Statutes 118A. <br />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 manner <br />that seeks to ensure the preservation of capital in the overall portfolio. The objective will be to <br />mitigate credit risks and interest rate risk. <br /> <br />a. Investments will be limited to those investments specified in Minnesota 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 />