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CITY OF ST. ANTHONY, MINNESOTA NOTES TO FINANCIAL STATEMENTS December 31, 2013 Credit Risk — Credit risk is the risk that an issuer or other counterparty to an investment will be unable to fulfill its obligation to the holder of the investment. State law limits investments in commercial paper to those rated in the highest quality category by at least two nationally recognized rating agencies; in any security of the State of Minnesota or any of its municipalities which is rated "A" or better by a national bond rating service for general obligation and rated "AA" or better for a revenue obligation; a general obligation of the Minnesota Housing Finance Agency to those rated "A" or better by a national bond rating agency; mutual funds or money market funds whose investments are restricted to securities described in MS I I8A.04. The City's investment policy does not place further restrictions on investment options. 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 amount the City may invest in any one issuer. More than 5% of the City's investments are in various holdings as follows: Federal Home Loan Bank 7.72% Note 3 RECEIVABLES Significant receivables balances not expected to be collected within one year of December 31, 2013 are as follows: Major Funds 58 Street Improvement HRA HRA Nonmajor General Debt Service Debt Service Projects Funds Total Special assessments receivable $ - $666,000 $ - $ - $911,000 $1,577,000 Delinquent property taxes 31,900 7,900 3,700 - 9,600 53,100 Delinquent Tax Increment - - - 35,000 - 35,000 $31,900 $673,900 $3,700 $35,000 $920,600 $1,665,100 58