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CITY OF ST. ANTHONY, MINNESOTA NOTES TO FINANCIAL STATEMENTS December 31, 2019 sufficiently liquid to enable the City to meet all operating requirements which might be reasonably anticipated. Credit risk – Credit risk is the risk that an issuer or other counterparty to an investment will be unable to fulfill its obligation to the holder of the investment. State law limits investments in commercial paper to those rated in the highest quality category by at least two nationally recognized rating agencies; in any security of the State of Minnesota or any of its municipalities which is rated “A” or better by a national bond rating service for general obligation and rated “AA” or better for a revenue obligation; a general obligation of the Minnesota Housing Finance Agency to those rated “A” or better by a national bond rating agency; mutual funds or money market funds whose investments are restricted to securities described in MS 118A.04. The City’s investment policy does not place further restrictions on investment options. Concentration of credit risk – Concentration of credit risk is the risk of loss that may be attributed to the magnitude of a government’s investment in a single issuer. The City places no limit on the amount the City may invest in any one issuer. The City does not have exposure to a single issuer that equals or exceeds 5% of the overall portfolio and, therefore, there is no concentration of credit risk. Note 3 RECEIVABLES Significant receivables balances not expected to be collected within one year of December 31, 2019 are as follows: Street Improvement HRA TIF Nonmajor General Debt Service Improvements Funds Total Special assessments receivable $ - $1,317,100 $ - $6,400 $1,323,500 Delinquent property taxes 9,500 4,300 - 3,000 16,800 Delinquent tax increment - - 9,800 - 9,800 $9,500 $1,321,400 $9,800 $9,400 $1,350,100 Major Funds Note 4 UNAVAILABLE REVENUES Governmental funds report deferred inflows of resources in connection with receivables for revenues that are not considered to be available to liquidate liabilities of the current period. At the end of the current fiscal year, the various components of unavailable revenue reported in the governmental funds were as follows: Property Taxes Special Assessments TIF Total Major Fund: General Fund $27,910 $4,562 $ - $32,472 Street Improvement Debt Service 11,909 1,480,048 - 1,491,957 HRA TIF Improvements - - 12,706 12,706 Nonmajor Funds 8,184 7,934 - 16,118 Total unavailale revenue $48,003 $1,492,544 $12,706 $1,553,253 56