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CITY OF ST. ANTHONY, MINNESOTA
<br />NOTES TO FINANCIAL STATEMENTS
<br />December 31, 2009
<br />f) Repurchase or reverse repurchase agreements with banks that are members of the Federal Reserve
<br />System with capitalization exceeding $10,000,000; a primary reporting dealer in U.S. government
<br />securities to the Federal Reserve Bank of New York; certain Minnesota securities broker - dealers;
<br />or, a bank qualified as a depositor.
<br />g) General obligation temporary bonds of the same governmental entity issued under section
<br />429.091, subdivision 7; 469.178, subdivision 5; or 475.61, subdivision 6.
<br />As of December 31, 2009, the City had the following investments and maturities:
<br />Investment Maturities (in Years)
<br />Fair Less over
<br />Investment Type Rating Value Thant 1 -5 6 -10 10years
<br />Federal National Mortgage Assn. Notes (I)
<br />Federal Home Loan Mortgage Corp. Notes (1)
<br />Federal Farm Credit Bank
<br />REMIC
<br />Money market
<br />External investment pool - 4M Fund
<br />Brokered certificates of deposit
<br />Total
<br />AAA
<br />$679,376
<br />AAA
<br />1,417,752
<br />AAA
<br />438,368
<br />N/A
<br />2,421
<br />N/A
<br />7,854,046
<br />N/A
<br />2,355,395
<br />N/A
<br />1,272,752
<br />7,500
<br />$14,020,110
<br />(I)These investments have call dates that occur in less than one year.
<br />$ - $679,376
<br />494,036 923,716
<br />438,368
<br />-
<br />2,421
<br />7,854,046 -
<br />- -
<br />2,355,395 -
<br />- -
<br />1,272,752 -
<br />-
<br />$11,482,193 5438368
<br />5494,036 $1,605,513
<br />Total investments
<br />$14,020,110
<br />Deposits
<br />7,500
<br />Petty cash
<br />4,600
<br />Total cash and investments
<br />$14,032,210
<br />Following is a reconciliation of the City's cash and investment balances as of December 31, 2009:
<br />Cash and investments $13,421,752
<br />Restricted cash and investments 155,311
<br />Funds held in trust 455,147
<br />$14,032,210
<br />C. INVESTMENT RISKS
<br />The City's investment policy is to follow Minnesota State Statutes as described above which reduces
<br />the City's exposure to credit, custodial credit and interest rate risks. Specific risk information for the
<br />City is as follows:
<br />Custodial credit risk - investments — For investments in securities, custodial credit risk is the risk that
<br />in the event of a failure of the counterparty, the City will not be able to recover the value of its
<br />investment securities that are in the possession of an outside party. As of December 31, 2009, $49,135
<br />of the City's $14,020,110 investments was uninsured and unregistered, with securities held in the
<br />City's name. As of December 31, 2009, $10,209,441 of the City's investments were invested in
<br />money markets or external investment pools. These investments are not evidenced by securities that
<br />exist in physical or book entry form, and therefore are not subject to custodial credit risk disclosures.
<br />Interest rate risk — The City's investment policy requires the City to diversify its investment portfolio
<br />to eliminate the risk of loss resulting from over concentration of assets in a specific maturity. The
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