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FUNDS ON HAND <br />As of May 31, 2006 <br />Fund Cash and Investments <br />General Fund $ 3,137,455 <br />Special Revenue 123,138 <br />Capital Projects 7,022,849 <br />Enterprise Funds 5,207,961 <br />Debt Service Fund 2,291,084 <br />Agency Funds 2,228,038 <br />Total $20,010,525 <br />CITY INVESTMENTS <br />As of May 31, 2006, the City had a total of $20,010,525, invested in the following manner: <br />Percent of <br />Portfolio <br />Checking /CDs /money market $ 8,364,734 41.8% <br />U.S. treasuries and agencies 9,458,330 47.3 <br />Government mutual funds 1,455,461 7.3 <br />Bonds 732,000 3.6 <br />Total $20,010,525 100.0% <br />In October 1997, the City adopted an investment policy that is in accordance with Minnesota <br />Statutes 118A. Some highlights of the City's investment policy are as follows: <br />1. The primary objective is the safety of the principal. Investments shall be undertaken <br />in a manner that seeks to ensure the preservation of capital in the overall portfolio. <br />The objective will be to mitigate credit risks and interest rate risk. <br />a. Investments will be limited to those investments specified in Minnesota <br />Statutes 118A. <br />b. Annually appointing the financial institutions, brokers /dealers, intermediaries <br />and advisors. <br />c. Diversifying the investment portfolio so that potential losses on individual <br />securities will be minimized. <br />d. Investing funds in primarily shorter -term securities. <br />2. The secondary objective is to have the portfolio remain sufficiently liquid to meet all <br />operating requirements that may be reasonably anticipated. <br />3. The third objective is to attain a market rate of return through budgetary and economic <br />cycles, taking into account the investment risk constraints and liquidity needs. <br />