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CITY OF LINO LAKES, MINNESOTA <br />NOTES TO FINANCIAL STATEMENTS <br />December 31, 2018 <br /> <br /> <br /> <br /> <br />Credit Risk – Credit risk is the risk than an issuer of an investment will not fulfill its obligation to the <br />holder of the investment. The City’s policy to minimize credit risk includes limiting investing funds to <br />those allowable under Minnesota Statute 118A, annually appointing all financial institutions where <br />investments are held, and diversifying the investment portfolio. This is measured by the assignment of <br />a rating by a nationally recognized statistical rating organization. <br /> <br />Concentration of Credit Risk – Concentration of credit risk is the risk of loss that may be attributed to <br />the magnitude of a government’s investment in a single issuer. The City places no limit on the amount <br />it may invest in any one issuer. At December 31, 2018, no individual investments exceeded 5% of the <br />City’s total investment portfolio. <br /> <br /> <br />Note 3 RECEIVABLES <br /> <br />Significant receivable balances not expected to be collected within one year of December 31, 2018 are as <br />follows: <br /> <br />Property Special <br />Taxes Assessments Notes <br />Receivable Receivable Receivable Total <br />Major Funds: <br /> General Fund $43,378 $ - $ - $43,378 <br /> G.O. Improvement Note of 2009A - 2,076,882 - 2,076,882 <br /> G.O. Improvement Bonds of 2016B - 2,994,379 - 2,994,379 <br /> Area and Unit Charge - 884,651 - 884,651 <br />Nonmajor Funds 8,692 435,924 225,000 669,616 <br /> Total $52,070 $6,391,836 $225,000 $6,668,906 <br /> <br />59