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NOTE 2 - DEPOSITS AND INVESTMENTS (CONTINUED) C. 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 10.9% concentration in Fannie Maes, 7.3% in Freddie Mac's and 21.5% 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, PAY ABLES, AND TRANSFERS A. Short-Term Interfund Receivables/Payables Individual interfund due from and to other funds at year-end were as follows: Payable Fund Amount Receivable Fund Major G:>vemmental Fund Public Improvement Revolving Fund Capital Project Fund Nonmajor G:>vemmental Fund RALF funded project Fund Capital Project Fund $ 263,850 Major G:>vemmental Fund Landfill Trust Fund Capital Project Fund No nmajor G:>vemmental Fund Ramsey Star Express Fund Special Revenue Fund $ 828,731 Major G:>vemmental Fund Public Improvement Revolving Fund Capital Project Fund Nonmajor G:>vemmental Fund 151st & 152nd Ave Road Improve- ment Fund Capital Project Fund $ 11 $ 1,092,592 These intemalloans were utilized for cash flow purposes. -39-