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6.G. - PaR8dv oocT$i7 <br />City <br />Notes to the Basic Financial Statements <br />For the fiscal year ended June 30, 2018 <br />NOTE 2 - CASH AND INVESTMENTS (CONTINUED) <br />D. Investments held in Trust for Pension Benefits <br />The City established an irrevocable Section 115 Pension Trust with Public Agency Retirement Services <br />(PARS). As of June 30, 2018, the trust had a balance of $10,497,444. PARS' policy for allocation of <br />invested assets is established as noted below: <br />Asset Class <br />Global Equity <br />Global Fixed Income <br />Liquidity <br />Total <br />Target Allocation <br />60.91% <br />36.41% <br />2.68% <br />100.00% <br />At June 30, 2018, PARS held no investments in any one organization that represented 5% of more of <br />fiduciary net position. <br />NOTE 3 - LOANS RECEIVABLE <br />As of June 30, 2018, loans receivable consists of the following: <br />Wyndham Place First Time Homebuyer Loan Program <br />First Time Homebuyer Silent Loan Program <br />Loans with Non -profits and For Profit Organizations <br />Housing Rehabilitation Loans <br />Shores Childcare Loan <br />First Community Housing Loan <br />PAL Loan <br />Kainos Home and Training Center Loans <br />HIP Housing Development Corporation Loan <br />HIP Housing - Oxford <br />Mental Health Association of San Mateo County Loan <br />1512 Stafford Loan <br />Mezes Court Association <br />Mid -Pen Housing -Mosaic Garden <br />Allowance for Uncollectible Loans <br />Total <br />Government -Wide <br />329,685 <br />261,279 <br />1,133,153 <br />1,026,575 <br />906,345 <br />2,627,000 <br />214,286 <br />1,893,222 <br />92,197 <br />103,600 <br />600,000 <br />1,577,750 <br />169,377 <br />1,100,000 <br />(1,893,222) <br />10,141,247 <br />54 260 <br />