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LA PORTE AREA WATER AUTHORITY EXHIBIT C-1 <br />NOTES TO THE FINANCIAL STATEMENTS (continued) <br />Note 4 - Temporary Investments (continued) <br />Concentration of Credit Risk <br />The Authority's investment policy places no limit on the amount the government may invest in any one <br />issuer. At September 30, 2014, the Authority's investment portfolio consisted of the following investments: <br />Investment Type <br />Public funds investment pools <br />US Agency securities <br />G}editRisk <br />Percentage of <br />Total Portfolio <br />58% <br />42% <br />100% <br />At year end balances in TexPool, a privately managed public funds investment pool was rated AAAm by <br />Standard & Poor's and balances in LOGIC, a privately managed public funds investment pool was rated <br />AAAm by Standard & Poor's. <br />Federal Home Loan Mortgage Corporation notes, Federal Home Loan Banks bonds, Farmer Mac and <br />Federal Farm Credit Bank notes were rated AA+ by Standard & Poor's. <br />All credit ratings met acceptable levels required by legal guidelines prescribed in both the PFIA and the <br />Authority's investment policy. <br />Note 5 - Capital Assets <br />An analysis of changes in physical facilities for the year ended September 30, 2014 follows: <br />Beginning <br />Retirements & Ending <br />Balance <br />Additions Adjustments Balance <br />Capital assets being depreciated <br />Water production and distribution system <br />$ 15,435,810 <br />$ $ $ 15,435,810 <br />Less accumulated depreciation for: <br />Water production and distribution system <br />(8,625,984) <br />(465,000) (9,090,984) <br />Total capital assets being depreciated, net <br />6,809,826 <br />(465,000) 6,344,826 <br />Investment in capital assets feom; <br />Contributions by pay ipa<n ,809, 6 $�w-- PM 46 0 ) $ $ 6,344,826 <br />*D <br />epreciation expense of $465,000 charged to water services fa nctionlprogram. <br />16 <br />