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IV-27CITY OF LINO LAKES, MINNESOTA NOTES TO FINANCIAL STATEMENTS December 31, 2018 ~ -Credit risk is the risk than an issuer of an investment will not fulfill its obligation to the holder of the investment. The City's policy to minimize credit risk includes limiting investing funds to those allowable under Minnesota Statute 118A, annually appointing all financial institutions where investments are held, and diversifying the investment portfolio. This is measured by the assignment of a rating by a nationally recognized statistical rating organi7.81:ion. Concentration of Credit Risk -Concentration of credit risk is the risk of loss that may be attributed to the magnitude of a government's investment in a single issuer. The City places no limit on the ammmt it may invest in any one issuer. At December 31, 2018, no individual investments exceeded 5% of the City's total investment portfolio. Note 3 RECEIVABLES Significant receivable balances not expected to be collected within one year of December 31, 2018 are as follows: Property Special Taxes Assessments Notes Receivable Receivable Receivable Major Funds: GeneralFund $43,378 $ $ G.O. Improvement Note of2009A 2,076,882 G.O. Improvement Bonds of2016B 2,994,379 Area and Unit Charge 884,651 Total $43,378 2,076,882 2,994,379 884,651 Nonmajor Funds 8692 435,924 225,000 ~616 Total $52,070 $6,391,836 $225,000 $6,668,906 CITY OF LINO LAKES, MINNESOTA NOTES TO FINANCIAL STATEMENTS December 31, 2018 Note 4 UNAVAILABLE REVENUE Governmental funds report deferred inflows of resources in connection with receivables for revenues that are not considered to be available to liquidate liabilities of the current period. At the end of the current fiscal year, the various components of unavailable revenue reported in the governmental funds are as follows: Property Special Taxes Assessments Receivable Receivable ~ Major Funds: General Fund $69,625 $106 $69,731 G.O. ImprovementNoteof2009A 2,100,886 2,100,886 G.0. lmprovement Bonds of2016B 2,994,379 2,994,379 Area and Unit Charge 997,143 997,143 Nonmajor Funds 13,952 519JOI ----2ll,_l 53 Total $83.2TI__ $6,611,715 $6,695~92
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