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PINE RIVER IRRIGATION DISTRICT <br /> NOTES TO FINANCIAL STATEMENTS <br /> DECEMBER 31, 1994 <br /> Note 2 - Deposits: <br /> The Colorado Public Deposit Protection Act (PDPA) requires that all units of local government <br /> deposit cash in eligible public depositories, eligibility is determined by state regulators. Amounts <br /> on deposit in excess of federal insurance levels must be collateralized. The eligible collateral is <br /> determined by the PDPA. PDPA allows the institution to create a single collateral pool for all public <br /> funds. The pool is to be maintained by another institution or held in trust for all the uninsured <br /> deposits as a group. The market value of the collateral must be at least equal to 102% of the <br /> uninsured deposits. <br /> At December 31, 1994,the District's cash deposits had a balance of$360,752 consisting of cash on <br /> hand and cash in bank. The corresponding carrying balances are as follows: <br /> 1994 1993 <br /> Insured Demand Deposits $ 6,156 $ 89,202 <br /> Cash on Hand 1.027 400 <br /> Carrying Balance 7,183 89,602 <br /> Insured Cash Investments <br /> (certificates of deposit) 3403783 359,903 <br /> Total $ 347,966 $ 449,505 <br /> Of the above balances, $119,969 was covered by FDIC insurance and $240,783 was collateralized <br /> under PDPA at December 31, 1994. A total of$1,027as uninsured and uncollateralized. <br /> Note 3 - Receivable: <br /> At December 31,the operating reimbursements and accounts receivable of the District consisted of <br /> the following: <br /> 1994 1993 <br /> Accounts Reveivable: $ 428 $ 633 <br /> Operating Reimbursements <br /> Bureau of Indian Affairs 28,091 15,658 <br /> Ptarmigan Resources & Energy 50.454 40.871 <br /> Total Operating Reimbursements 78.545 56.529 <br /> Total $78,973 $57.162 <br /> 10 <br />