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CITY OF LINO LAKES, MINNESOTA
<br />NOTES TO FINANCIAL STATEMENTS
<br />December 31, 2017
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<br />At December 31, 2017, the City had the following investments and maturities:
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<br />Fair Less
<br />Investment Type Rating Value Than 1 1 - 5 6 - 8
<br />Wells Fargo money market NR $4,275,289 $4,275,289 $ - $ -
<br />Morgan Stanley money market NR 24,165 24,165 - -
<br />4M Fund NR 7,207,927 7,207,927 - -
<br />Brokered CD's NR 16,419,585 6,887,755 8,413,876 1,117,954
<br />Municipal bonds * 10,908,237 1,568,897 8,746,306 593,034
<br />Federal Home Loan Mortgage Corp.AAA 1,482,210 - - 1,482,210
<br /> Total $40,317,413 $19,964,033 $17,160,182 $3,193,198
<br />NR - Not Rated Total investments $40,317,413
<br />* AAA $1,975,589; AA+ $463,359 Deposits 257,836
<br /> AA $3,507,002; AA- $2,967,505 Petty cash 940
<br /> A+ $710,532 Total cash and investments $40,576,189
<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)$38,856,678
<br />Fiduciary (Statement 10)1,719,511
<br />Total $40,576,189
<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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