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Note 2. CASH AND INVESTMENTS (continued) Note 3. NOTES TO FINANCIAL STATEMENTS (Continued) December 31, 1988 B. Investments (continued) U.S. Government Securities $500,000 $ - $2,646,449 $3,146,449 $3,194,014 Certificates of Deposit - - 752,412 752,412 752,412 Cammerrial Paper - - 4,143,654 4,143,654 4,143,654 Total Investments $500,000 $ - $7,542,515 8,042,515 $8,090,080 Total deposits Petty cash fund Total Cash and Investments CITY OF RAMSEY, MINNESOTA Other assets - deferred compensation plans $ 237,814 $ 237,814 INDIVIDUAL FUND DISCLOSURES A. Fund Deficits The following funds have a deficit fund balance at December 31, 1988: Capital Project Funds - Tax Increment Development District II Improvement Sealcoat Revolving Improvement Revolving Mississippi Drainage District Rum River Drainage District Credit Risk Category. Carrying M 1 2 3 Value Value Each of these deficits relates to capital projects which have incurred expenditures for the project but have not yet obtained financing. The Tax Increment District II Improvement Fund will receive future tax increment revenue. The Sealcoat and Improvement Revolving Funds are used by the City to finance improvements until special assessments revenue is collected or financing from bonding, when appropriate, is completed. Cost accumulated in the Mississippi and Rum River Drainage District Funds will be offset by general ad valorem property taxes against those properties within the drainage districts. These dedi- cated revenue sources should eliminate the deficits in the near future. -21- 138,083 100 $8,180,698 $ (6,903) (70,634) (526,104) (16,702) (2,683)