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<br />NOTE 2 - DEPOSITS AND INVESTMENTS (CONTINUED) <br /> <br />C. Investments (continued) <br /> <br />Concentration risk - This is the risk associated with investing a significant portion of the City's <br />investment (considered 5 percent or more) in the securities of a single issuer, excluding United States <br />guaranteed investments (such as Treasuries), investment pools and mutual funds. The City's <br />investment policies do not limit the concentration of investments. At year end, the City's investment <br />pOlifolio included 11.7% concentration in Fannie Maes, 17.4% in Freddie Mac's and 38.8% in <br />Federal Home Loan Bank notes. <br /> <br />Interest rate risk - This is the risk of potential variability in the fair value of fixed rate investments <br />resulting from changes in interest rates (the longer the period for which an interest rate is fixed, the <br />greater the risk). The City does not have an investment policy limiting the duration of investments. <br /> <br />NOTE 3 - INTERFUND RECEIVABLES, PAY ABLES, AND TRANSFERS <br /> <br />A. Short-Term Interfund Receivables/Payables <br /> <br />Individual interfund due from and to other funds at year-end were as follows: <br /> <br />Receivable Fund <br /> <br />Payable Fund <br /> <br />Amount <br /> <br />Major Governmental Fund <br />Public Improvement Revolving <br />Fund Capital Project Fund <br /> <br />Nonmajor Governmental Fund <br />State Highway 10 Capital <br />Project Fund <br /> <br />$ 18,808 <br /> <br />Major Governmental Fund <br />Public Improvement Revolving <br />Fund Capital Project Fund <br /> <br />Major Governmental Fund <br />RalfFunded Projects <br />Capital Project Fund <br /> <br />$ 219,402 <br /> <br />Major Governmental Fund <br />Landfill Special Revenue Fund <br /> <br />Nonmajor Governmental Fund <br />Ramsey Star Express <br />Special Revenue Fund <br /> <br />$ 231,230 <br /> <br />$ 469,440 <br /> <br />These internal loans were utilized for cash flow purposes. <br /> <br />-37- <br />