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r ' <br />1 i <br />CITY OF ORONO, MINNESOTA <br />Notes to Financial Statements (continued) <br />December 31, 1996 <br />NOTE 2 - DEPOSITS AND INVESTMENTS (CONTINUED) <br />The City’s investments are categorized below to give an indication of the level of custodial credit risk <br />assumed at year-end. Category 1 includes investments that are insured or registered or for which the <br />securities are held by the City or its agent in the City’s name. Category 2 includes uninsured and <br />unregistered investments for which the securities are held by the counterparty’s trust department or agent <br />in the City’s name. Category 3 includes uninsured and unregistered investments for which the securities <br />are held by the counterparty or by its trust department or agent but not in the City’s name. <br />Deposits and investment balances at December 31, 1996 are as follows: <br />Deposits <br />Cash on band <br />597,895 <br />360 <br />Total deposits, investments and cash on hand $ 9.412,641 <br />Deposits, investments, and cash on hand are reported on the City’s combined balance sheet as follows: <br />Cash and temporary investments <br />Cash and investments held by trustee <br />$ 8,074,506 <br />1,338,135 <br />Total cash and investments $ 9.412.641 <br />-36- <br />Custodial Credit Risk Catettorv Carrying Market <br />1 2 3 Value Value <br />U.S. Government securities $4,200,368 $ - $414,906 $ 4,615,274 $4,796,058 <br />Sute and local government securities 285,000 --285,000 292,004 <br />Commercial paper 1.589.677 -849,457 2,439.134 2.463.257 <br />$6,075,045 $ - $1,264,363 7,339,408 7,551,319 <br />Investment pools - unclassified <br />Money market funds 549,866 549,866 <br />Held by deferred compensation trustees 925.112 925,112 <br />Total investments 8,814,386 $9.026.297 11 <br />i <br />•* «