2020 Comprehensive Annual Financial Report

CITY OF SHAKOPEE

NOTES TO THE FINANCIAL STATEMENTS DECEMBER 31, 2020

NOTE 4 – DEPOSITS AND INVESTMENTS (CONTINUED)

B. Investments (Continued)

The City has the following recurring fair value measurements as of December 31, 2020:

Fair Value Measurement Using

Value

Level 1

Level 2

Level 3

Investments at Fair Value:

Certificate of Deposit Agencies

$

7,790,401

$

-

$

7,790,401

$

-

FFCB FHLB

1,504,200

- - - - - - - - - - -

1,504,200 329,293

- - - - - - - - - - - - -

999,805 329,293

FHLMC FNMA

999,805

4,272,367 1,012,810

4,272,367 1,012,810

TVA

Agencies- Mortgage Backed

FHLMC FNMA

1,782,293 6,912,784

1,782,293 6,912,784

SBA

298,347

298,347

Agency Discount Notes

-

57,106,044 22,693,574 7,860,219 1,649,951

1,649,951 7,860,219

FHLB

US Treasury Notes Total/Subtotal Municipal Bond

22,693,574 22,693,574

-

$

$

34,412,470

$

Investments at Amortized Cost:

Money Market Fund Total

9,042,113 66,148,157

$

Publicly traded assets are valued in accordance with market quotation or valuation methods from services believed by our broker to be reliable. Assets, which are not publicly traded, may reflect values from other external sources or special valuations prepared by our broker. Assets for which a current value is not available may be reflected as not valued, at par value, or at a nominal value of $1.00. $20,936,150 of $63,233,101 of the Component Unit’s investments at December 31, 2020 are valued using a quoted market prices (Level 2 inputs). $42,296,951 are investments uncategorized in accordance with GASB 72 and GASB 79.

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