Laserfiche WebLink
CITY OF LA PORTE, TEXAS Exhibit A-10 <br />NOTES TO FINANCIAL STATEMENTS (continued) <br /> <br /> <br />Note 2 Î Deposits and Investments (continued) <br /> <br />Investment Rate Risk <br /> <br />At year-end, the City had the following investments subject to interest rate risk disclosure, under U.S. GAAP, by <br />investment type: <br /> <br />Weighted <br />Average Percentage of WAM <br />Fair ValueMaturity (Days)PortfolioCalculation <br />U.S. Government Securities <br />Federal Farm Credit Banks2,001,565$ 5462%9 <br />Total U.S. Government Securities2,001,565 <br />Local Government Investment Pools: <br />TexPool37,853,950 3832%12 <br />TexSTAR48,543,523 3941%16 <br />Texas CLASS29,977,824 5625%14 <br />Logic29,167 540%- <br />Total Local Government Investment Pools116,404,464 18751 <br />Total118,406,029$ <br /> <br />The CityÓs investment policy specifies the maximum stated maturity from the date of purchase for any individual <br />investments may not exceed 5 years and the maximum dollar weighted average maturity for the pooled fund group <br />(investment portfolio) may not exceed 2 years. <br /> <br />Credit Risk <br /> <br />The primary objective of the CityÓs adopted Investment Policy is the safety of principal. Credit risk within the CityÓs <br />portfolio among authorized investments approved by the CityÓs adopted Investment Policy is represented in U.S. <br />Treasury Bills, Notes or Bonds, and other securities which are guaranteed as to principal and interest by the full <br />faith and credit of the United States of America, collateralized or fully insured certificates of deposits, FDIC insured <br />banks in the State of Texas, repurchase agreements if secured by U.S. Treasury Bills, Notes or Bonds and Public <br />Funds Investment Pools. <br /> <br />All of the CityÓs purchased investments in U.S. Government Securities were rated AA+ and AAAm by Standard & <br />PoorÓs and MoodyÓs respectively. <br /> <br />Draft 3-12-21 <br /> 49 Fiscal Year 2020 Annual Report <br /> <br />