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CITY OF ORONO, MINNESOTA <br />Notes to Financial Statements (continued) <br />December 31, 1995 <br />I <br />I <br />NOTE 2 - DEPOSITS AP^ INVESTMENTS (CONTINUED) <br />C. Investments <br />The City may also invest idle funds as authorized by Miruiesota Statutes, as follows: direct obligations or <br />obligations guaranteed by the United States or its agencies; shares of investment companies registered <br />under the Federal Investment Company Act of 1940 and whose only investments are in securities described <br />above; general obligations of the State of Minnesota or any of its municipalities; bankers' acceptances of <br />United States' banks eligible for purchase by the Federal Reserve System; commercial paper issued by <br />United States' corporations or their Canadian subsidiaries, of the highest quality. and maturing in 270 days <br />or less; repurchase or reverse purchase agreements with banks that are members of the Federal Reserve <br />System with capitalization exceeding $10,(X)0,000, a primary reporting dealer in U.S. government <br />securities to the Federal Reserve Bank of New York, or certain Minnesota securities broker-dealers; and <br />futures contracts sold under authority of Minnesota Statutes § 471.56, Subd. 5. <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, 1995 are as follows: <br />CustcxJial Credit Risk Category <br />U.S. government securities <br />State and local government securities <br />Commercial paper <br />1 3 <br />$5.115.141 s - $1,050.897 <br />285,000 -- <br />3.088.665 -- <br />s 8.488.806 $- $1.050.897 <br />Carrying <br />Value <br />6.166,038 <br />285,000 <br />3,088.665 <br />9.539.703 <br />Investment ptH>ls - unclassified <br />Money market funds <br />Held by deferred <br />compensation trustees <br />Total investments <br />14,171 <br />776.874 <br />Market <br />Value <br />6.540.835 <br />297.533 <br />3.092.258 <br />9,930.626 <br />14.171 <br />776,874 <br />10.330.748 $ 10,721.671 <br />Deposits <br />Cash on hand <br />Total deposits, investments <br />and cash on hand <br />433.985 <br />760 <br />$ 10.765.493 <br />Deposits, investments, and cash on hand are reported on the City's combined balance sheet as follows: <br />Cash and temporar> investments <br />Cash and investments held by trustee <br />Restricted assets - cash and temporary investments <br />Total cash and invesimenis <br />$ 7,250,665 <br />1,189.983 <br />2,324,845 <br />$ 10.765.493 <br />-38-