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CITY OF LA PORTE, TEXAS
<br /> Notes to the Financial Statements
<br /> September 30, 2010
<br /> 1. Summary of significant accounting policies — Continued
<br /> F. Cash and Investments
<br /> Cash includes amounts in demand deposits, short-term investments, which mature within ninety days of the
<br /> fiscal year end, and various petty cash funds. The short-term investments are stated at cost or amortized
<br /> cost, which approximate fair value. The short-term investments consist of U.S. Treasury Bills and deposits
<br /> in the Texas Local Government Investment Pool (TexPool), the Local Government Investment Cooperative
<br /> (LOGIC) and Texas Short Term Asset Reserve Program (TexStar) all of which have the general
<br /> characteristics of a demand deposit account. For purpose of the statement of cash flows, Proprietary Fund
<br /> types consider temporary investments with a maturity of three months or less when purchased to be cash
<br /> equivalents.
<br /> In accordance with Statement No. 31, the City reports all investments at fair value, except for "money
<br /> market investments" and "2a7 -like pools ". Money market investments, which are short-term highly liquid
<br /> debt instruments that may include U.S. Treasury and agency obligations, are reported at amortized costs.
<br /> Investment positions in external investment pools that are operated in a manner consistent with the SEC's
<br /> Rule 2a7 of the Investment Company Act of 1940, such as TexPool, LOGIC and TexStar are reported using
<br /> the pools' share price.
<br /> G. Receivables
<br /> Receivables as of year -end of the government's individual major and non -major funds and internal service
<br /> funds, including the applicable allowances for uncollectible accounts, are as follows:
<br /> Fund Taxes Intergovernmental Interest Other Accounts Total
<br /> General $ 1,932,409 $ - $ 1,565 $ - $ 2,421,241 $ 4,355,215
<br /> Capital Projects - - 1,057 - - 1,057
<br /> Nonmajorgovernmental 747,479 672,208 1,130 61,955 - 1,482,772
<br /> Utility - - 228 - 940,815 941,043
<br /> La Porte Area
<br /> Water Authority - - 265 - 167,816 168,081
<br /> Nonmajor enterprise - - 37 - 5,122 5,159
<br /> Intemalservicefunds - - 870 121,177 - 122,047
<br /> Gross Receivables 2,679,888 672,208 5,152 183,132 3,534,994 7,075,374
<br /> Less: allowance for
<br /> uncollectibles (703,699) - - - (649,235) (1,352,934)
<br /> Net total receivables $ 1,976,189 $ 672,208 $ 5,152 $ 183,132 $ 2,885,759 $ 5,722,440
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