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Stonegate Village Metropolitan District <br />NOTES TO FINANCIAL STATEMENTS <br />December 31, 2006 <br />Note 2 - Cash and investments <br />As of December 31, 2006, cash and investments are classified in the accompanying <br />financial statements as follows: <br />Statement of net assets: <br />Cash and investments <br />$ 1 95 412 <br />Cash and investments as of December 31, 2006 consist of the following: <br />Deposits with financial institutions $ 1,521,189 <br />Investments - COLOTRUST 13,663,423 <br />U.S. Treasury Securities 3,771,800 <br />~ 18 956 412 <br />Deposits <br />Custodial credit risk <br />The Colorado Public Deposit Protection Act, {PDPA) requires that all units of local <br />government deposit cash in eligible public depositories. State regulators determine <br />eligibility. Amounts on deposit in excess of federal insurance levels must be <br />collateralized. The eligible collateral is determined by the PDPA. PDPA allows the <br />institution to create a single collateral pool for all public funds. The pool is to be <br />maintained by another institution, or held in trust for all the uninsured public deposits as <br />a group. The market value of the collateral must be at least equal to the aggregate <br />uninsured deposits. The State Commissioners for banks and financial services are <br />required by statute to monitor the naming of eligible depositories and reporting of the <br />uninsured deposits and assets maintained in the collateral pools. <br />While the District does not have a formal policy for deposits, as of December 31, 2006, <br />none of the District's deposits in the amount of $6,050,677 were exposed to custodial <br />credit risk. <br />15 <br />