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NOTE 2 — DEPOSITS AND INVESTMENTS (CONTINUED) Concentration risk -- This is the risk associated with investing a significant portion of the City's investment (considered 5 percent or more) in the securities of a single issuer, excluding United States guaranteed investments (such as Treasuries), investment pools and mutual funds. The City's investment policies do not limit the concentration of investments. At year end, the City's investment portfolio included 11.7% concentration in Fannie Maes, 15.7% in Freddie Mac's and 30.1% in Federal Home Loan Bank notes. Interest rate risk — This is the risk of potential variability in the fair value of fixed rate investments resulting from changes in interest rates (the longer the period for which an interest rate is fixed, the greater the risk). The City does not have-an investment policy limiting the duration of investments. NOTE 3 — INTERFUND RECEIVABLES, PAYABLES, AND TRANSFERS A. Short -Term Interfund Receivables/Payables Individual interfund due from and to other funds at year -end were as follows: Receivable Fund Nonmajor Governmental Fund Economic Development Authority Special Revenue Fund Major Governmental Fund Equipment Revolving Fund Capital Project Fund Major Governmental Fund Public. Improvement Revolving Fund Capital Project Fund Major Governmental Fund Public Improvement Revolving Fund Capital Project Fund Nonmajor Governmental Fund 2004E Capital Equipment Fund Debt Service Fund These internal loans were utilized for cash flow purposes. Payable Fund _ Amount Nonmajor Governmental Fund $ 14,161 Federal/State Grants Special Revenue Fund Nonmajor Governmental Fund $ 264,639 Ramsey Crossing Fund Capital Project Fund* Nonmajor Governmental Fund $ 95,541 State Highway 10 Capital Project Fund Nonmajor Governmental Fund $ 239,799 Woodpond Hills Trail Project Capital Project Fund Nonmajor Governmental Fund $ 2,352 2006 Capital Equipment Fund Debt Service Fund $ 616,492