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�1 ST. ANTHONY FIREFIGHTERS RELIEF ASSOCIATION NOTES TO FINANCIAL STATEMENTS DECEMBER 31, 1995 Note 2. Cash and Investments Cash and investments of the Association at December 31, 1995 consisted of invest- ments in the Special Pension Fund of $349,030 and cash in banks (demand deposits) of $3,156 in the General Fund. Bank Deposits - In accordance with Minnesota Statutes, the Association maintains deposits at depository banks authorized by the Board of Trustees. Bank deposits include demand and time deposits. State statutes require all bank deposits be cov- ered by deposit insurance, surety bond, or pledged collateral. Bank deposits of the Association totaled $3,248 (before reconciling items) and were fully insured. Investments - Minnesota Statutes provide authorization for the investment of pen- sion funds of the Association. These statutes restrict investments to obligations of the U.S. Treasury, its agencies and instrumentalities, corporate stocks and bonds, shares of registered investment companies, prime commercial paper and restricted participation as a limited partner in venture capital, real estate or resource equity investments. Investments are categorized to give an indication of the level of risk assumed by the Association. Category 1 includes investments that are insured or registered, or for which the securities are held by the Association or its agent in the Asso- ciation's name. Category 2 includes uninsured and unregistered investments for which the securities are held by the broker's or dealer's trust department or agent in the Association's name. Category 3 includes uninsured and unregistered invest- ments for which the securities are held by the counterparty, or by its trust de- partment or agent but not in the A ' $315,310 Cash with Brokage Institution Money Market Fund Shares Limited Partnerships Total Investments -7- ---- - - - - -- 315,310 ssociation s name. 367 367 Investments of the Association consisted of the following: at December 31, 1995, categorized as defined above, -------------------------- Credit Risk Category Carrying - - - - -- and Market 1 2 3 values Cost Mutual Fund Shares Unit Trust Plan Assets $141,486 $141,486 $118,886 U.S. Government Securitites 66,432 37,448 66,432 66,432 Corporate Stocks 69,944 37,448 35,125 69,944 58,772 $315,310 Cash with Brokage Institution Money Market Fund Shares Limited Partnerships Total Investments -7- ---- - - - - -- 315,310 ---- - - - - -- 279,215 367 367 29,522 29,522 3,831 3,831 $349,030 $312,935