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CITY OF ST. ANTHONY, MINNESOTA
<br />NOTES TO FINANCIAL STATEMENTS
<br />December 31, 2020
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<br />
<br />bonds, repurchase agreements, Minnesota joint powers investment trusts and guaranteed investment
<br />contracts.
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<br />As of December 31, 2020, the City had the following investments and maturities:
<br />
<br />Fair Less Over
<br />Investment Type Rating Value Than 1 1-5 6-10 10 Years
<br />Federal Home Loan Mortgage Coporation AAA $719,520 $ - $719,520 $ - $ -
<br />Federal Farm Credit Bank AAA 744,953 - 744,953 - -
<br />Money market funds Aaa-mf 1,876,016 1,876,016 - - -
<br />External investment pool - 4M Fund Not rated 9,141,896 9,141,896 - - -
<br />External investment pool - 4M Plus Fund Not rated 6,243 6,243 - - -
<br />Municipal Securities AA - AAA 797,372 - 496,540 300,832 -
<br />Brokered Certificates of Deposit Not rated 7,487,740 2,918,008 3,820,336 677,120 72,276
<br /> Total $20,773,740 $13,942,163 $5,781,349 $977,952 $72,276
<br />Total investments $20,773,740
<br />Total deposits 707,861
<br />Petty cash 5,300
<br /> Total cash and investments $21,486,901
<br />Investment Maturities (in Years)
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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
<br />are valued using inputs that are based on quoted prices for similar assets or inputs that are observable,
<br />either directly or indirectly. Level 3 investments are valued using inputs that are unobservable.
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<br />The City has the following recurring fair value measurements as of December 31, 2020:
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<br />Fair Value Measurement Using
<br />Investment Type 12/31/2020 Level 1 Level 2 Level 3
<br />Investments at fair value:
<br />Brokered Certificates of Deposit $7,487,740 $ - $7,487,740 $ -
<br />Municipal Securities 797,372 - 797,372 -
<br />Federal National Mortgage Association 719,520 - 719,520 -
<br />Federal Farm Credit Bank 744,953 - 744,953 -
<br />Total/Subtotal 9,749,585 $0 $9,749,585 $0
<br />Investments not categorized:
<br />External investment pool - 4M, 4M Plus 9,148,139
<br />Money market funds 1,876,016
<br />Total $20,773,740
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<br />The City’s external investment pool investment is with the 4M fund which is regulated by Minnesota
<br />Statutes and the Board of Directors of the League of Minnesota Cities. The 4M fund is an unrated pool
<br />and the fair value of the position in the pool is the same as the value of pool shares. The pool is
<br />managed to maintain a portfolio weighted average maturity of no greater than 60 days and seeks to
<br />maintain a constant net asset value (NAV) per share of $1. The pool measures its investments at
<br />amortized cost in accordance with Government Accounting Standards Board Statement No. 79.
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