Laserfiche WebLink
CITY OF HUGO, MINNESOTA <br />NOTES TO FINANCIAL STATEMENTS (CONTINUED) <br />3. Detailed Notes on All Funds (Continued) <br />A. Deposits and Investments (continued) <br />Fair Value Measurements (continued) <br />• Level 3: Inputs to the valuation methodology are unobservable and significant to the fair <br />value measurement. <br />The asset's or liability's fair value measurement level within the fair value hierarchy is based on <br />the lowest level of any input that is significant to the fair value measurement. Valuation <br />techniques used need to maximize the use of observable inputs and minimize the use of <br />unobservable inputs. <br />The City's investments within the fair value hierarchy at December 31, 2016 and 2015 were as <br />follows: <br />45 <br />As of December 31, 2016 <br />Assets <br />Measured at <br />Fair Value Hierarchy Level <br />Fair Value <br />Level 1 Level 2 Level 3 <br />U.S. Government Securities <br />$ 9,133,534 <br />$ $ 9,133,534 $ <br />Total <br />$ 9,133,534 <br />$ $ 9,133,534 $ <br />As of December 31, 2015 <br />Assets <br />Measured at <br />Fair Value Hierarchy Level <br />Fair Value <br />Level 1 Level 2 Level 3 <br />U.S. Government Securities <br />$ 8,380,653 <br />$ $ 8,380,653 $ <br />Total <br />$ 8,380,653 <br />$ $ 8,380,653 $ <br />45 <br />