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CITY OF ST. ANTHONY <br /> NOTES TO FINANCIAL STATEMENTS <br /> DECEMBER 31 , 1999 <br /> Note 3. Cash and Investments, continued <br /> Investments: <br /> Cash balances from all. funds, except the Liquor Fund, are pooled and invested to the <br /> extent available in authorized investments. State statutes authorize the City to ' <br /> invest in (1) certificates of deposit, (2) direct, guaranteed or insured obligations <br /> of the U.S. Treasury or other federal agencies, (3) registered investment companies, <br /> (4) bankers acceptances, (5) commercial paper, (6) guaranteed .investment contracts, , <br /> (7) repurchase agreements. This cash management pool operates as a demand deposit <br /> account for participating funds. <br /> The City's investments at December 31 , 1999. are categorized in the following table r <br /> to give an indication of the level of risk assumed by the City. Category 1 includes <br /> investments that are insured or registered, or for which the securities are held by <br /> the City or its agent in the City's name. Category 2 includes uninsured and unre- <br /> gistered investments, with the securities held by the counterparty's trust depart- <br /> ment or agent in the City's name. Category 3 includes uninsured and unregistered <br /> investments, with the securities held by the counterparty, or by its trust depart- ' <br /> ment or agent but not in the City's name. <br /> CreditRiskCategory <br /> ----- - - - , <br /> -------- Fair <br /> Security 1 2 3 Value <br /> ---------- ------------ ---------- ------------- <br /> Repurchase Agreement $663,055 $663,055 , <br /> U.S. Government Agencies 6,912,229 6,912,229 <br /> Commercial Paper 2, 150,075 2,150,075 <br /> Unit Income Trusts 154,068 154,068 <br /> Other Securities 64,417 64,417 <br /> ---------- ------------ ---------- ----------- <br /> $9,943,844 - 9,943,844 ' <br /> ---------- ------------ ---------- <br /> Shares of Investment Pools - <br /> Cash With Financial Institutions 5,395 <br /> Money Market Funds 159,991 <br /> ------------- <br /> Total Investments $10, 109,230 <br /> GASB has issued Governmental Accounting Standard No. 31 , Accounting and Financial <br /> Reporting for Certain Investments and for External Investment Pools. This standard <br /> requires that investments be reported at fair value in the balance sheet with changes <br /> in the- fair value of investments reported in the operating statement. The City <br /> recorded an adjustment of $411 ,140 to comply with the requirements of GASB 31 . <br /> This adjustment is reflected in the operating statements of the City. , <br /> -22- r <br />