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ALAMEDA COUNTY REDEVELOPMENT AGENCY - <br />SAN LEANDRO JOINT PROJECT AREA <br />NOTES TO BASIC FINANCIAL STATEMENTS <br />JUNE 30.2008 <br />Investments <br />The Agency investments consist of County Treasurer's investments as follows: <br />The Agency maintains its available cash in Alameda County Treasury. The County pools <br />these funds with those of other agencies and invests the cash. These pooled funds are <br />carried at cost, which approximates the market value. All the funds in the pool share any <br />investments losses proportionately. <br />Funds with the County Treasurer are invested pursuant to investment policy established by <br />the Treasurer and approved by the Board of Supervisors. The objectives of the policy are, <br />in order of priority, preservation of capital, liquidity and yield. The policy addresses the <br />soundness of financial institutions in which the County deposits funds, the types of <br />investment instruments and the percentage of the portfolio which may be invested in certain <br />instruments, as permitted by Section 53600 et seq. of the Government Code of the State of <br />California. Authorized instruments in which the Treasurer can invest include debts issued <br />by the County, US Treasury securities, banker's acceptances, federal, state and local <br />government securities, commercial paper, medium-term corporate notes, negotiable <br />certificates of deposit, local agency investment fund, money market funds, mutual funds, <br />and mortgage-backed securities. Information regarding the characteristics of the entire <br />investment pool can be found in the County's June 30, 2008 comprehensive annual <br />financial report. A copy of that report may be obtained by contacting the County's Auditor- <br />Controller Agency, 1221 Oak Street, Room 220, Oakland, CA 94612. <br />NOTE 3: CAPITAL ASSETS <br />During the year ended June 30, 2008, the Agency purchased land for future commercial <br />development. As of June 30, 2008, the accumulated cost of this development project is <br />$921,939. <br />NOTE 4: DUE TO OTHER COUNTY FUNDS <br />Following is a summary of the due to other county funds as of June 30, 2008: <br />Finance Department $ 155,708 <br />Planning Department 58,787 <br />Housing and Community Development Department 77,445 <br />Construction Department 72,488 <br />$ 364,428 <br />25 <br />