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CITY OF LA PORTE, TEXAS
<br /> Notes to the Financial Statements
<br /> September 30, 2010
<br /> 2. Cash, Cash Equivalents and Investments - Continued
<br /> ➢ SEC - registered, no -load money market mutual funds (MMMF) that have an average weighted maturity
<br /> of Tess than two years, invests exclusively in obligations described above and are continuously rated as
<br /> to investment quality by at least one nationally recognized investment rating firm of no Tess than "AAA"
<br /> or its equivalent.
<br /> ➢ Authorized government investment pools that invest solely in obligations of any of the above
<br /> investments provided that the pools are rated no lower than "Aaa" or "AAA" or an equivalent by at least
<br /> one nationally recognized rating service.
<br /> Deposit and Investment Amounts
<br /> At year -end, the City recorded cash on hand, demand deposits, certificates of deposit, balances in
<br /> privately managed public funds investment pools, money market mutual funds, and investments stated
<br /> at fair value of $55,426,991.
<br /> The following schedule shows the City's recorded cash and investments at year -end:
<br /> Deposits and
<br /> Cash Pooled Funds Investments Total
<br /> General $ 893,364 $ 9,252,991 $ 3,336,264 $ 13,482,619
<br /> Debt Service 205,260 2,118,740 773,784 3,097,784
<br /> Capital Projects 1,431,318 16,910,116 3,259,933 21,601,367
<br /> Special Revenue Funds 781,571 2,622,237 1,066,037 4,469,845
<br /> Total Governmental Funds 3,311,513 30,904,084 8,436,018 42,651,615
<br /> Internal Service Funds 520,101 5,368,588 1,960,660 7,849,349
<br /> Total Governmental Activities 3,831,614 36,272,672 10,396,678 50,500,964
<br /> Enterprise 326,398 2,320,946 2,278,683 4,926,027
<br /> Total $ 4,158,012 $ 38,593,618 $ 12,675,361 $ 55,426,991
<br /> Quoted market prices are the basis of the fair value for US Agency securities and commercial paper. The
<br /> amount of increase or decrease in the fair value of investments during the current year is included in the
<br /> City's investment income as follows:
<br /> Interest income $ 334,682
<br /> Net increase (decrease) in fair value of investments 5,016
<br /> Total investment income $ 339,698
<br /> Investment Risks
<br /> At year -end, the City had the following investments, shown below for all funds by investment type:
<br /> Investment Type Fair Value
<br /> Public funds investment pools $ 38,593,618
<br /> Certificates of deposit 10,623,069
<br /> US Agency securities 2,000,000
<br /> Total $ 51,216,687
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