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47 <br />CITY OF ST. ANTHONY, MINNESOTA <br />NOTES TO FINANCIAL STATEMENTS (CONTINUED) <br />DECEMBER 31, 1978 <br />Note 11 - Deficiency in Pledged Collateral <br />Minnesota statutes require depositories for City funds to pledge collateral to <br />secure balances in excess of F,D,I.C. insurance coverage. At December 31, 1978 <br />the collateral pledged by Fidelity Bank and Trust was approximately $100,000 below <br />the statutory requirement. <br />