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CITY OF LINO LAKES, MINNESOTA <br />NOTES TO FINANCIAL STATEMENTS <br />December 31, 1997 <br />Balances at December 31, 1997: <br />Custodial Credit Risk Category Carrying Market <br />Securities Type 1 2 3 Amount Value <br />Commercial paper $2,925,926 $ - $ $2,925,926 $2,942,243 <br />U.S. government and agency securities 10,854,055 10,854,055 10,781,367 <br />Municipal bond 675,000 675,000 696,000 <br />Totals $14,454,981 $0 $0 14,454,981 14,419,610 <br />Investments not subject to categorization: <br />Mutual funds 193,098 193,098 <br />Total investments 14,648,079 $14,612,708 <br />Deposits 1,033,858 <br />Petty cash 760 <br />Totals $15,682,697 <br />A reconciliation of cash and investments as shown on the combined balance sheet is as follows: <br />Cash and investments <br />Cash and investments with escrow agent <br />$15,585,650 <br />97,047 <br />Total $15,682,697 <br />The City's investments are categorized above to give an indication of the level of custodial credit risk <br />assumed at year -end. Category 1 includes investments that are insured or registered or for which the <br />securities are held by the City or its agent in the City's name. Category 2 includes uninsured or <br />unregistered investments for which the securities are held by the counterparty's trust department or <br />agent in the City's name. Category 3 includes uninsured and unregistered investments for which the <br />securities are held by the counterparty or by its trust department or agent but not in the City's name. <br />Cash and investments with escrow agent consist of undisbursed proceeds of the Public Project Bonds <br />of 1990 which are restricted for the payment of debt associated with the City's fire station. <br />40 <br />