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6.1.E. - Page 73 ,
<br /> Notes to the Basic Financial Statements
<br /> For the year ended June 30, 2015
<br /> NOTE 2—CASH AND INVESTMENTS(CONTINUED)
<br /> The following is a summary of pooled cash and investments, including cash and investments with fiscal
<br /> agent at June 30, 2015:
<br /> Fiduciary Fund
<br /> Financial
<br /> Government-wide Statement of Net Assets Statements
<br /> Fiduciary Funds
<br /> Governmental Business-Type Statement of
<br /> Activities Activities Total Net Assets Total
<br /> $ $ $ $ $
<br /> Cash and Investment 150,980,559 81,224,705 232,205,264 232,205,264
<br /> Restricted Cash and
<br /> Investments 5,350,110 6,545,758 11,895,868 9,887,427 21,783,295
<br /> Total Cash and Investments 253,988,559
<br /> B. Risk Disclosures
<br /> Interest Rate Risk. As a means of limiting its exposure to fair value losses arising from rising interest
<br /> rates, the City's investment policy provides that final maturities of securities cannot exceed three years.
<br /> Specific maturities of investments depend on liquidity needs.
<br /> As of June 30, 2015,the City had the following cash and investments available for operations:
<br /> Investment Maturities(in years)
<br /> Fair Value 1-2 Years 2-3 Years 3-4 Years
<br /> $ $ $ $
<br /> Demand Accounts at Banks 3,342,153 3,342,153
<br /> Certificates of Deposit 250,000 250,000
<br /> Petty Cash 11,860 11,860
<br /> County of San Mateo Investment Pool 44,329,462 44,329,462
<br /> California Local Agency Investment Fund 55,244,639 55,244,639
<br /> U.S.Agencies,Securities,and Corporate Notes:
<br /> Federal Home Loan Bank 54,015,960 2,996,160 2,999,640 48,020,160
<br /> Federal National Mortgage Association 21,001,680 - 12,023,340 8,978,340
<br /> Federal Home Loan Mortgage Corporation 39,013,470 - 12,005,790 27,007,680
<br /> Federal Farm Credit 14,996,040 - 5,992,380 9,003,660
<br /> U.S.Treasury Securities
<br /> TOTAL 232,205,264 106,174,274 33,021,150 93,009,840
<br /> Credit Risk—Defined as the risk of loss of value of an investment due to a downgrade of its rating or the
<br /> failure or impairment of its issuer. Credit Risk shall be mitigated by investing in investment grade
<br /> securities and by diversifying the investment portfolio so that failure of any one issue does not unduly
<br /> harm the City's capital base and cash flow. In order to limit loss exposure due to Credit Risk, the
<br /> investment policy limits purchases of commercial paper investments to those rated A-1 by Standard and
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