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<br />Tax Levies and Collections
<br />
<br /> Collected During Collected and/or Abated
<br /> Net Collection Year As of 12-31-20
<br />Levy/Collect Levy* Amount Percent Amount Percent
<br />
<br />2020/21 $11,138,354 (In Process of Collection)
<br />2019/20 10,486,646 $10,389,799 99.1% $10,393,485 99.1%
<br />2018/19 10,050,225 9,969,413 99.2 10,027,322 99.8
<br />2017/18 9,771,791 9,724,860 99.5 9,763,721 99.9
<br />2016/17 9,486,823 9,447,023 99.6 9,481,882 99.9
<br /> * The net levy excludes state aid for property tax relief and fiscal disparities, if applicable. The net levy is the basis
<br />for computing tax capacity rates. See Appendix III.
<br />
<br />
<br /> FUNDS ON HAND As of March 31, 2021
<br />General Fund $ 7,572,458
<br />Special Revenue Funds 744,624
<br />Capital Project Funds 17,502,362
<br />Enterprise Fund 15,673,463
<br />Debt Service Funds 4,218,978
<br />Agency Funds 147,654
<br />
<br /> Total Cash and Investments $45,859,539 INVESTMENTS
<br />As of March 31, 2021, the City had total investments of $45,020,935, invested in the following manner:
<br />
<br /> Percent of
<br /> Portfolio
<br />
<br />Checking/CDs/money market $27,223,348 60.47%
<br />U.S. treasuries and agencies 3,541,852 7.87
<br />Bonds 14,255,735 31.66
<br />
<br />Total $45,020,935 100.00%
<br />
<br />In October 1997, the City adopted an investment policy that is in accordance with Minnesota Statutes,
<br />Chapter 118A. 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,
<br />Chapter 118A.
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