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<br />Tax Levies and Collections
<br />
<br /> Collected During Collected and/or Abated
<br /> Net Collection Year As of 6-17-19
<br />Levy/Collect Levy* Amount Percent Amount Percent
<br />
<br />2018/19 $10,050,225 (In Process of Collection)
<br />2017/18 9,771,791 $9,724,860 99.5% $9,755,554 99.8%
<br />2016/17 9,486,823 9,447,023 99.6 9,480,463 99.8
<br />2015/16 9,053,413 9,012,162 99.5 9,048,661 99.9
<br />2014/15 8,680,907 8,626,115 99.4 8,678,768 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, 2020
<br />General Fund $ 4,532,439
<br />Special Revenue Funds 697,814
<br />Capital Project Funds 18,211,724
<br />Enterprise Fund 15,670,342
<br />Debt Service Funds 2,417,317
<br />Agency Funds 1,851,099
<br />
<br /> Total Cash and Investments $43,380,735 INVESTMENTS
<br />As of March 31, 2020, the City had total investments of $43,380,735, invested in the following manner:
<br />
<br /> Percent of
<br /> Portfolio
<br />
<br />Checking/CDs/money market $31,802,183 93.31%
<br />U.S. treasuries and agencies 503,968 1.16
<br />Bonds 11,074,584 25.53
<br />
<br />Total $43,380,735 100.00%
<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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