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NOTE 1—SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)
<br /> The details of the restatement are as follows:
<br /> Government-Wide
<br /> Financial Statements Proprietary Fund Financial Statements
<br /> Governmental Business-type Water Sewer Street Ligbt Recycling Storm Water
<br /> Activities Activities Utility Utility Utility Utility Utility
<br /> Net Position-December 31,2014
<br /> (as reported) $ 65,052,136 $ 81,343,199 $ 41,291,148 $ 27,138,024 $ 1,717,792 $ 380,483 $ 10,815,752
<br /> Deferred outflows/inflows related to pensions 240,084 16,601 8,569 3,748 — — 4,284
<br /> Net pension liability (4,267,365) (378,618) (195,416) (85,494) — — (97,708)
<br /> Net Position-December 31,2014
<br /> (as restated) $ 61,024,855 $ 80,981,182 $ 41,104,301 $ 27,056,278 $ 1,717,792 $ 380,483 $ 10,722,328
<br /> NOTE 2—DEPOSITS AND INVESTMENTS
<br /> A. Components of Cash and Investments
<br /> Cash and investments at year-end consist of the following:
<br /> Deposits $ 5,118,394
<br /> Investments 58,111,102
<br /> Cash on hand 500
<br /> Total $ 63,229,996
<br /> Cash and investments are presented in the financial statements as follows:
<br /> Cash and temporary investments - Statement of Net Position $ 61,514,438
<br /> Cash and temporary investments - Statement of Fiduciary Net Position 1,715,558
<br /> Total $ 63,229,996
<br /> B. Deposits
<br /> In accordance with applicable Minnesota Statutes, the City maintains deposits at depository banks
<br /> authorized by the City Council,including checking accounts and certificates of deposits.
<br /> The following is considered the most significant risk associated with deposits:
<br /> Custodial credit risk—In the case of deposits, this is the risk that in the event of a bank failure, the
<br /> City's deposits may be lost.
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