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PENROSE W A TER DISTRICT <br /> 340 Grant Street yawl Penrose,CO 81240 <br /> 2. Bank Deposits and Temporary Investments <br /> Deposits of the District at each bank where the funds are maintained are insured up to $250,000, either by the <br /> Federal Deposit Insurance Corporation(FDIC)or by the Federal Savings and Loan Insurance Corporation(FSLIC). <br /> Colorado's Public Deposit Protection Act of 1975 enables any eligible public depository to elect to secure public <br /> deposits by pledging eligible collateral having a market value at all times equal to at least one hundred two percent <br /> (102%)of the aggregate of said deposits not insured. <br /> Custodial Credit Risk-Deposits <br /> Custodial credit risk is the risk that in the event of a bank failure,the District's deposits may not be returned to it. <br /> The District does not have a deposit policy for custodial credit risk. Uninsured deposits in financial institutions are <br /> placed into three categories depending on the custody credit risk. The categories are as follows: <br /> a. Uncollateralized <br /> b. Collateralized with securities held by the pledging financial institution <br /> c. Collateralized with securities held by the pledging financial institution's trust department,or agent but not in the <br /> entity's name. <br /> The following is a schedule of the District's cash and temporary investment balances categorized by custody credit <br /> risk and a reconciliation to the statement of net assets for the year ending December 31,2011: <br /> Total Carrying <br /> Description Insured Balance Balance <br /> Wells Fargo Bank $ 7,647 $ 7,647 $ 7,647 <br /> Canon National Bank 136,124 136,124 120,438 <br /> Pueblo Bank and Trust 24,358 24,358 24,358 <br /> Wells Fargo Prime Investment Money Market(Rated <br /> AAAm by S&P) N/A 29,262 29,262 <br /> Federated Treasury Obligation Money Market(Rated <br /> AAAm by S&P) N/A 113,135 113,135 <br /> Colotrust Plus+(Rated AAAm by S&P) N/A 242,493 242,493 <br /> Total Cash and Temporary Investments $ 168,129 $ 553,019 $ 537,333 <br /> Reconciliation to the Statement of Net Assets <br /> Cash on the Statement of Net Assets 350,409 <br /> Restricted cash and investments 187,250 <br /> Less Petty Cash (326) <br /> Total Cash and Temporary Investments $ 537,333 <br /> The fair value of the investments in Colotrust and the other two money market funds are not categorized because <br /> they are not evidenced by securities that exist in physical or book entry form. <br /> Interest Rate Risk <br /> The District has no formal investment policy that limits investment maturities as a means of managing its exposure <br /> to fair value losses arising from increasing interest rates other than those described in Colorado Revised Statutes. <br /> Credit Risk <br /> The District has no investment policy that limits its investment choices other than the limitation of state law as <br /> follows: <br /> 13 <br />