2018 City of Shakopee Comprehensive Annual Financial Report

CITY OF SHAKOPEE NOTES TO THE FINANCIAL STATEMENTS DECEMBER 31, 2018

NOTE 4 – DEPOSITS AND INVESTMENTS A. Deposits (Continued) As of December 31, 2018, the City had the following deposits: City Deposits $

527,777

Component Unit Deposits

11,656,452

Total Deposits

12,184,229 $

B. Investments As of December 31, 2018, the City held the following investments:

Years to Maturity

Less than One Year

Moody's

Value

1-5 Years

5-10 Years

10-15 Years Concentration

Rating

Pooled Investments:

Certificate of Deposit Commercial Paper Money Market Fund

$

7,172,141 3,193,008 1,137,221

2,289,710 $

4,882,431 $

$

- - -

$

- - -

12.18% NR 5.42% NR 1.93% NR 1.70% NR 5.66% AAA 14.70% NR 20.05% AAA-A2 36.32% AAA

3,193,008 1,137,221

- -

Mortgage FHLB

999,540

999,540 499,746

-

-

-

FHLMC FNMA

3,333,240 8,655,464 11,809,193 21,389,285 1,198,464

1,532,558

125,114 965,941 703,363

1,175,822 7,174,724

4,019

510,780

Municipal Bond

2,069,221 4,221,356 1,198,464

9,036,609 17,167,929

- - -

US Treasury Notes US Treasury Bill

- -

-

2.03% NR

Non-Pooled Investments: Money Market Fund

42,076

42,076

-

-

-

100.00% NR

Total Investments

58,929,632 $

15,654,361 $

33,130,307 $

1,794,418 $

8,350,546 $

As of December 31, 2018, the component units had the following investments:

Years to Maturity

Less than One Year

Value

1-5 Years

Concentration Rating

US Agencies U.S. Treasuries

11,004,397 $

4,935,535 $

6,068,862 $

24.18% AAA 17.10% AAA 58.64% N/A 0.09% N/A

7,777,082 26,692,594

866,402

6,910,680

4M Fund

26,692,594

- -

Money Market Fund

38,855

38,855

Total

45,512,928 $

32,533,386 $

12,979,542 $

100.01%

The City’s investment policy, which covers all funds except the component units, addresses the following risks. The City’s component units also have a formal policy to address the following risks. 62