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CITY OF RAMSEY <br />Notes to Financial Statements (continued) <br />December 31, 2001 <br />NOTE 2 — DEPOSITS AND INVESTMENTS (CONTINUED) <br />The certificates of deposit included in investments are negotiable and can be traded in a secondary <br />market. <br />Cash and investment balances at December 31, 2001 are as follows: <br />Custodial Credit Risk Category Carrying Fair <br />1 2 3 Value Value <br />U.S. government securities $ 17,585,014 $ — $ — $ 17,585,014 $ 17,583,607 <br />Certificates of deposit 1,705,427 — — 1,705,427 1,705,427 <br />$ 19,290,441 $ — $ — 19,290,441 19,289,034 <br />Investment pools <br />Unclassified <br />4M Liquid Asset Fund 522,813 522,813 <br />Total investments 19,813,254 $ 19,811,847 <br />Deposits 7,696,191 <br />Cash on hand 225 <br />Total cash and investments $ 27,509,670 <br />Cash is comprised of the following <br />Cash and temporary investments $ 27,347,957 <br />Cash and investments held by trustee 161,713 <br />$ 27,509,670 <br />The 4M Liquid Asset Fund is an external investment pool not registered with the Securities Exchange <br />Commission (SEC) that follows the same regulatory rules of the SEC under rule 2a7. The fair value of <br />the position in the pool is the same as the value of the pool shares. <br />During the fiscal year ended December 31, 2001, the City also invested in commercial paper. <br />-20- <br />