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DRAFT <br />Concentration of Credit Risk <br />The Authority's investment policy places no limit on the amount the government may invest in <br />any one issuer. At September 30, 2015, the Authority's investment portfolio consisted of the <br />following investments: <br />Percentage of <br />Investment Type Total Portfolio <br />Public funds investment pools <br />US Agency securities <br />Credit Risk <br />66.00 % <br />34.00 % <br />100.00 % <br />At year end balances in TexPool, a privately managed public fund investment pool, was rated <br />AAAm by Standard & Poor's and balances in LOGIC, a privately managed public funds <br />investment pool was rated AAAM by Standards & Poor's. <br />Federal Home Loan Mortgage Corporation notes, Federal Home Loan Banks bonds, Farmer Mac <br />and Federal Farm Credit Bank notes were rated AA+ by Standard & Poor's. <br />All credit rating met acceptable levels required by legal guidelines prescribed in both the PFIA and <br />the Authority's investment policy. <br />V. CAPITAL ASSETS <br />An analysis of changes in physical facilities for the year ended September 30, 2015 follows: <br />Capital assets being depreciated: <br />Water production and distribution system <br />Less accumulated depreciation: <br />Water production and distribution system <br />Total capital assets being depreciated, net <br />Investment in capital assets from: <br />Contribution by participants <br />Beginning Ending <br />Balance Additions Deletions Balance <br />$ 15,435,810 $ - $ - $ 15,435,810 <br />( 9,090,984) { 464,999) - { 9,555,983) <br />$ 6,344,826 $L LG4,999 $ - $ 5,879,827 <br />$ 6,3d4,826 $( 464.999) $ - $ 5,879,827 <br />* Depreciation expense of $464,999 charged to water services function/program. <br />14 <br />