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SOUTHEASTERN COLORADO WATER CONSERVANCY DISTRICT <br />NOTES TO FINANCIAL STATEMENTS <br />DECEMBER 31, 2005 <br />NOTE 2 -CASH, CASH EQUIVALENTS AND INVESTMENTS (Cont'd.) <br />At December 31, 2005, the District had the following investment and maturities: <br />Investment Maturity <br />Fair (in yearsL_ <br />Value Less than 1 1-5 <br />Money market funds $ 1,671,982 $ 1,671,982 $ - <br />U.S. agency securities 10,827,710 3,138,780 7,688,930 <br />12,499.692 $ 4,810.762 7,688.930 <br />Interest rate risk -The Authority does not have a formal policy that limits investment maturities as a means of <br />managing its exposure to fair value losses arising from increasing interest rates. <br />Credit risk -State law limits investments in money market funds to funds that are registered as an investment <br />company; the fund investment policies must seek to maintain a constant price and no sales or bond fee can be <br />added to the purchase or redemption price. The Authority has no investment policy that would further limit its <br />investment choices. As of December 31, 2005, the District's investment in money market funds is rated <br />AAAm by Standard and Poor's and AAa by Moody's. <br />NOTE 3 -RECEIVABLES <br />Receivables at December 31, 2005 consist of the following: <br />Governmental <br />Activities <br />General Fund Total <br />Property taxes $ 5,779,892 $ 5,779,892 <br />Accounts 64,440 64,440 <br />Interest 76,702 76,702 <br />5,921,034 5.921,034 <br />Business-Type <br />Activities <br />Water Activity <br />Enterprise Fund Total <br />Accounts <br />Interest <br />$ 44,012 <br />7,266 <br />$ 44,012 <br />7,266 <br />$ 51278 $ 51.278 <br />-24- <br />