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t <br /> HOUSING AND REDEVELOPMENT AUTHORITY OF ST. ANTHONY <br /> NOTES TO FINANCIAL, STATEMENTS <br /> DECEMBER 31 , 1999 <br /> Note 2. Cash and Investments, continued <br /> Investments: <br /> Cash balances from all funds are pooled and invested to the extent, available in <br /> authorized investments. State statutes authorize the Authority to invest in: <br /> (1 ) certificates of deposit, (2) direct, guaranteed or insured obligations of the <br /> U.S. Treasury or other federal agencies, (3) registered investment companies, <br /> (4) bankers acceptances, (5) commercial paper, (6) guaranteed investment contracts, <br /> and (7.) repurchase agreements. This cash management pool operates as a demand <br /> deposit account for participating funds. Investments are stated at fair value. <br />' Authority investments at December 31 , 1999 are. categorized in the following table <br /> to give an indication of the level of risk assumed by the Authority. Category 1 <br /> includes investments that are insured or registered, or for which the securities <br /> are held by the Authority or its agent in the Authority's name. Category 2 includes <br /> uninsured and unregistered investments, with the securities held .by the counterparty's <br /> trust department or agent in the Authority's name.. Category 3 includes uninsured <br /> and unregistered investments, with the securities held by -the counterparty, or by <br /> its trust department or agent but not in the Authority's name. <br /> Credit Risk Category <br /> 1 ---------=------------------------ Fair <br /> Security 1 2 3 Value <br /> ---------- ------------ ---------- ------------ <br /> Repurchase Agreement $663,055 $663,055 <br /> Commercial Paper 206, 143 206,143 <br /> U.S. Government Agencies 2, 176,566 2,176,566 <br /> Unit Income Trusts 125,250 125,250 <br /> Other Securities 64,417 64,417 <br /> ---------- ------------ <br /> - $3,235,431 . - 3,235,431 <br /> 1 Shares of Investment Pools - <br /> Money Market Funds 21 ,480 <br />' Total Investments $3,256,911 <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 Authority <br /> has recorded an adjustment of $167, 182 to comply with the requirements of GASB 31 . <br /> This adjustment is reflected in the operating statements of .the Authority. <br /> a <br /> -13- <br />