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CITY OF ST. ANTHONY, MINNESOTA
<br />NOTES TO FINANCIAL STATEMENTS
<br />December 31, 2016
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<br />b) Shares of investment companies registered under the Federal Investment Company Act of 1940
<br />and whose only investments are in securities described in (a) above, general obligation tax-exempt
<br />securities, or repurchase or reverse repurchase agreements.
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<br />c) State and local securities as follows:
<br />1) any security which is a general obligation of any state or local government with taxing
<br />powers which is rated “A” or better by a national bond rating service;
<br />2) any security which is a revenue obligation of any state or local government with taxing
<br />powers which is rated “AA” or better by a national bond rating service; and
<br />3) a general obligation of the Minnesota Housing Finance Agency which is a moral obligation of
<br />the State of Minnesota and is rated “A” or better by a national bond rating agency.
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<br />d) Bankers acceptances of United States banks eligible for purchase by the Federal Reserve System.
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<br />e) Commercial paper issued by United States corporations or their Canadian subsidiaries, of the
<br />highest quality, and maturing in 270 days or less.
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<br />f) Repurchase or reverse repurchase agreements with banks that are members of the Federal Reserve
<br />System with capitalization exceeding $10,000,000; a primary reporting dealer in U.S. government
<br />securities to the Federal Reserve Bank of New York; certain Minnesota securities broker-dealers;
<br />or, a bank qualified as a depositor.
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<br />g) General obligation temporary bonds of the same governmental entity issued under section
<br />429.091, subdivision 7; 469.178, subdivision 5; or 475.61, subdivision 6.
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<br />As of December 31, 2016, the City had the following investments and maturities:
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<br />Fair Less Over
<br />Investment Type Rating Value Than 1 1-5 6-10 10 Years
<br />Federal Home Loan Mortgage Corporation AAA $345,110 $345,110 $ - $ - $ -
<br />REMIC NR 37 37 - - -
<br />Money market NR 1,229,106 1,229,106 - - -
<br />External investment pool - 4M Fund NR 8,545,954 8,545,954 - - -
<br />Local governments AA - AAA 839,700 169,856 669,844 - -
<br />Brokered certificates of deposit NR 7,340,533 3,745,453 3,595,080 - -
<br /> Total $18,300,440 $14,035,516 $4,264,924 $0 $0
<br />NR - Not Rated Total investments $18,300,440
<br />Total deposits 5,001,972
<br />Petty cash 5,300
<br /> Total cash and investments $23,307,712
<br />Investment Maturities (in Years)
<br />Following is a reconciliation of the City’s cash and investment balances as of December 31, 2016:
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<br />Cash and investments $23,292,676
<br />Cash and investments - fiduciary fund 15,036
<br />$23,307,712
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<br />The City categorizes its fair value measurements within the fair value hierarchy established by
<br />generally accepted accounting principles. The hierarchy is based on the valuation inputs used to
<br />measure the fair value of the asset. The hierarchy has three levels. Level 1 investments are valued
<br />using inputs that are based on quoted prices in active markets for identical assets. Level 2 investments
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