|
CITY OF ST. ANTHONY, MINNESOTA
<br />NOTES TO FINANCIAL STATEMENTS
<br />December 31, 2019
<br />
<br />
<br />
<br />
<br />B. INVESTMENTS
<br />
<br />Minnesota Statutes authorize the City to invest in the following:
<br />
<br />a) Direct obligations or obligations guaranteed by the United States or its agencies, its
<br />instrumentalities or organizations created by an act of congress, excluding mortgage-backed
<br />securities defined as high risk.
<br />
<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.
<br />
<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.
<br />
<br />d) Bankers acceptances of United States banks eligible for purchase by the Federal Reserve System.
<br />
<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.
<br />
<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.
<br />
<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.
<br />
<br />As of December 31, 2019, the City had the following investments and maturities:
<br />
<br />Fair Less
<br />Investment Type Rating Value Than 1 1-5 6-10
<br />Federal National Meeting Association AAA $249,950 $ - $249,950 $ -
<br />Money market funds Not rated 1,129,763 1,129,763 - -
<br />External investment pool - 4M Fund Not rated 5,722,182 5,722,182 - -
<br />External investment pool - 4M Plus Fund Not rated 255,878 255,878 - -
<br />Municipal Securities AA - AAA 481,994 125,654 356,340 -
<br />Brokered Certificates of Deposit Not rated 8,870,287 3,009,204 5,471,043 390,040
<br /> Total $16,710,054 $10,242,681 $6,077,333 $390,040
<br />Total investments $16,710,054
<br />Total deposits 366,414
<br />Petty cash 5,300
<br /> Total cash and investments $17,081,768
<br />Investment Maturities (in Years)
<br />
<br />54
|