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CITY OF LINO LAKES, MINNESOTA
<br />NOTES TO FINANCIAL STATEMENTS
<br />December 31, 2018
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<br />At December 31, 2018, the City had the following investments and maturities:
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<br />Fair Less
<br />Investment Type Rating Value Than 1 1 - 3 3 - 6
<br />Brokered certificates of deposit Not rated $21,764,879 $5,281,248 $13,223,194 $3,260,437
<br />Municipal bonds * 11,895,760 3,630,158 6,205,751 2,059,851
<br />Federal Home Loan Mortgage Corp. AAA 1,481,550 - - 1,481,550
<br />4M fund Not rated 9,227,709 9,227,709 - -
<br />First American Gov't Obligation fund AAAm 1,478,455 1,478,455 - -
<br />Invesco Gov't & Agency fund AAAm 599,883 599,883 - -
<br />Total $46,448,236 $20,217,453 $19,428,945 $6,801,838
<br />* AAA $1,627,686; AA+ $1,671,406 Total investments $46,448,236
<br /> AA $3,908,093; AA- $3,851,826 Deposits 4,714,688
<br /> A+ $228,655; A $608,094 Petty cash 940
<br /> Total cash and investments $51,163,864
<br />Investment Maturities (in Years)
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<br />These amounts are presented in the financial statements as follows:
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<br />Cash and investments:
<br />Governmental and business-type (Statement 1) $49,713,561
<br />Fiduciary (Statement 10) 1,450,303
<br />Total $51,163,864
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<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.
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