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<br />NOTE 2 - CASH AND INvESTMENTS (CONTINUED)
<br />
<br />The following is a summary of pooled cash and investments, including cash and investments with fiscal
<br />agent at June 30, 2005.
<br />
<br />Fiduciary Fund
<br />Financial
<br />Statements
<br />
<br />Government-wide Statement of Net Assets
<br />
<br />Cash and Investment
<br />
<br />Governmental
<br />Activities
<br />$
<br />102,849,064
<br />
<br />Business-Type
<br />Activities
<br />$
<br />31,269,073
<br />
<br />Restricted Cash and
<br />Investments
<br />
<br />39,814,657
<br />
<br />Total Cash and Investments
<br />
<br />B.
<br />
<br />Risk Disclosures
<br />
<br />30,384,249
<br />
<br />Fiduciary Funds
<br />Statement of
<br />Total Net Assets
<br />$ $
<br />134,118,137
<br />
<br />Total
<br />$
<br />134,118,137
<br />
<br />70,198,906
<br />
<br />8,255,510
<br />
<br />78,454,416
<br />
<br />212,572,553
<br />
<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 />
<br />As of June 30, 2005, the City had the following cash and investments and maturities:
<br />
<br />Demand Accounts at Banks
<br />Certificates of Deposit
<br />Petty Cash
<br />Securities of u.S. Government Treasury Agencies:
<br />Federal Home Loan Bank
<br />Federal Home Loan Mortgage Corporation
<br />Federal National Mortgage Association
<br />Corporate Notes
<br />County of San Mateo Investment Pool
<br />California Local Agency Investment Fund
<br />TOTAL
<br />
<br />Fair Value
<br />$
<br />813,743
<br />2,750,000
<br />11,885
<br />
<br />19,802,480
<br />14,898,630
<br />30,271,020
<br />1,016,190
<br />54,881,370
<br />9,672,819
<br />134,118,137
<br />
<br />Investment Maturities (in years)
<br />1 Year or Less 1-2 Years 2-3 Years
<br />$ $ $
<br />813,743
<br />2,750,000
<br />11,885
<br />
<br />13,831,550
<br />11,890,440
<br />18,262,560
<br />
<br />5,970,930
<br />3,008,190
<br />12,008,460
<br />
<br />1,016,190
<br />54,881,370
<br />9,672,819
<br />69,146,007
<br />
<br />43,984,550
<br />
<br />20,987,580
<br />
<br />Credit Risk - Defined as the loss due to failure of the issuer of a security, shall be mitigated by investing
<br />in investment grade securities and by diversifying the investment portfolio so that failure of anyone
<br />issue does not unduly harm the City's capital base and cash flow.
<br />
<br />36
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