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CITY OF ST. ANTHONY NOTES TO FINANCIAL STATEMENTS DECEMBER 31 , 1999 1 Note 3. Cash and Investments ' Cash and investments at December 31 , 1999 consist of: Cash on Hand $54,890 Cash in Banks - Demand and Time Deposits --_2,363,703_ . 2 418,593 Cash With Financial Institutions 5,395 Shares of Money Market Funds 159,991 Repurchase Agreement 663,055 U.S. Government Agencies 6,912,229 Commercial Paper 2,150,075 Unit Income Trusts 154,068 Other Securities 64,417 Total 'Cash and Investments $12,527,823 The summary above includes cash and investments totaling $3, 191 ,896 (net of adjust- ment to fair value) of the Housing and Redevelopment Authority of St. Anthony, ' which for reporting purposes is included as a blended component unit in the financial statements of the City. Bank Deposits: In accordance with Minnesota Statutes,. the City maintains deposits 'at those depository banks authorized by the City Council , all of which are members of the Federal Reserve System. Statutes require that City deposits be protected by insurance, ,surety bond or collateral . The market value of collateral pledged must equal 110% of the deposits not covered by insurance or bonds, 140% in the case of mortgage notes pledged. Secu- rities pledged are to be held in safekeeping by the City Treasurer or in a financial ' institution other than that furnishing the collateral . Bank deposits are summarized by the categories of credit risk shown below: Bank Carrying Balances Amount ' (1) Insured or collateralized with securities held by the City or its agent in the City's name $290,000 $290,000 (2) Collateralized with securities held by the ' pledging institution's trust department in the City's name 2,131 ,659 2,073,703 (3) Unco.11ateralized or collateralized with securities held by the pledging institution, but not in the City' name - - ------------- ------------- $2,421 ,659 $2,363,703 -21- r .