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CITY OF ST. ANTHONY, MINNESOTA
<br />NOTES TO FINANCIAL STATEMENTS
<br />December 31, 2021
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<br />As of December 31, 2021, 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 Bank AAA $2,872,539 $ - $2,872,539 $ - $ -
<br />Federal Farm Credit Bank AAA 838,209 - 838,209 - -
<br />Money market funds Aaa-mf 36,485 36,485 - - -
<br />External investment pool - 4M Fund Not rated 11,046,074 11,046,074 - - -
<br />External investment pool - 4M Plus Fund Not rated 6,247 6,247 - - -
<br />External Investment Pool - LTD Not rated 1,496,102 1,496,102 - - -
<br />Municipal Securities AA - AAA 776,156 - 485,416 290,740 -
<br />Brokered Certificates of Deposit Not rated 6,861,779 2,499,031 3,466,261 896,487 -
<br /> Total $23,933,591 $15,083,939 $7,662,425 $1,187,227 $0
<br />Total investments $23,933,591
<br />Total deposits 511,723
<br />Petty cash 5,300
<br /> Total cash and investments $24,450,614
<br />Investment Maturities (in Years)
<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, 2021:
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<br />Fair Value Measurement Using
<br />Investment Type 12/31/2021 Level 1 Level 2 Level 3
<br />Investments at fair value:
<br />Brokered Certificates of Deposit $6,861,779 $ - $6,861,779 $ -
<br />Municipal Securities 776,156 - 776,156 -
<br />Federal Home Loan Bank 2,872,539 - 2,872,539 -
<br />Federal Farm Credit Bank 838,209 - 838,209 -
<br />Total/Subtotal 11,348,683 $0 $11,348,683 $0
<br />Investments not categorized:
<br />External investment pool - 4M, 4M Plus, LTD 12,548,423
<br />Money market funds 36,485
<br />Total $23,933,591
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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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<br />The 4M Liquid Asset Fund has no redemption requirements. The 4M Plus Fund requires funds to be
<br />deposited for a minimum of 14 calendar days. Withdrawals prior to the 14-day restriction period are
<br />subject to a penalty equal to 7 days interest on the amount withdrawn.
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