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CITY OF SAN LEANDRO
<br />NOTES TO BASIC FINANCIAL STATEMENTS
<br />For The Year Ended June 30, 2014
<br />NOTE 2 - CASH AND INVESTMENTS (Continued)
<br />Information about the sensitivity of the fair values of the City's Investments to market interest rate
<br />fluctuations is provided by the following table that shows the distribution of the City's investment by
<br />maturity:
<br />Investment Type
<br />Federal agency securities
<br />Money Market Fund
<br />U.S. Treasury Notes
<br />Local Agency Investment Fund (LAIF)
<br />Corporate bonds
<br />Held by Bond Trustee:
<br />U.S. Treasury Money Market Funds
<br />Total
<br />12 Months or
<br />Fair Value Less
<br />$ 20,738,675 $ 7,054,884
<br />6,989,590 6,989,590
<br />8,352,590 2,034,038
<br />43,531,878 43,531,878
<br />9,507,364 1,767,052
<br />13 to 24 25 to 60
<br />Months Months
<br />$ 6,943,621 $ 6,740,170
<br />2,366,391 3,952,161
<br />1,907,491 5,832,821
<br />7,563,160 7,563,160
<br />$ 96,683,257 $ 68,940,602 $ 11,217,503 $ 16,525,152
<br />Investments Authorized by the City's Investment Policy and California Government Code
<br />The table below identifies the investment types that are authorized for the City by the City's Investment
<br />Policy. The table also identifies certain provisions of the California Government Code that address
<br />interest rate risk, credit risk, and concentration of credit risk. This table does not address investments of
<br />debt proceeds held by bond trustee that are governed by the provisions of the related bond documents.
<br />Investment Type
<br />Maximum Maturity
<br />Maximum Percentage of *Portfolio
<br />U.S. Treasury Obligations
<br />5 years
<br />None
<br />U.S. Agency Securities
<br />5 years
<br />None
<br />Bankers Acceptances
<br />180 days
<br />40%
<br />Commercial Paper
<br />270 days
<br />25%
<br />Negotiable Certificate of Deposit
<br />5 years
<br />30%
<br />Repurchase Agreements
<br />1 year
<br />20%
<br />Reverse Repurchase Agreements
<br />92 days
<br />20%
<br />Medium Term Notes
<br />5 years
<br />30%
<br />Mutual Funds
<br />N/A
<br />20%
<br />Money Market Mutual Funds
<br />N/A
<br />20%
<br />Local Agency Investment Fund (LAIF)
<br />N/A
<br />$40 million per account
<br />Passbook Accounts
<br />5 years
<br />None
<br />City Issued Securities
<br />N/A
<br />None
<br />Other investment pools
<br />N/A
<br />None
<br />*excluding amounts held by bond trustee that are not subject to California Government Code restrictions.
<br />Investments in Local Agency Investment Fund
<br />The City invests in the Local Agency Investment Fund (LAIF), a State of California external investment
<br />pool. LAIF determines fair value on its investment portfolio based on market quotations for those
<br />securities where market quotations are readily available and based on amortized cost or best estimate for
<br />those securities where market value is not readily available.
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