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CITY OF EUGENE, OREGON <br />Notes to Basic Financial Statements <br />(4) Detailed Notes on All Funds, continued <br /> (A) Equity in Pooled Cash and Investments, continued <br />Deposits, continued <br /> A depository may only hold in excess of 30% of all aggregate public funds reported by all depositories <br />holding Oregon public funds if the excess is collateralized at 100%. <br />The OST, at the advice of the Director of Consumer and Business Services, may also, at any time, require <br />depositories to pledge additional collateral up to 110% of the value of the uninsured public fund deposits.In the event <br />of a depository failure, the entire pool of collateral pledged by all qualified Oregon public funds depositories is <br />available to repay deposits of public funds of government entities. <br />Custodial Credit Risk <br />Custodial credit risk is the risk that in the event of a depository failure, the government’s deposits may not be returned <br />to it. At June 30, 2015, the City had deposits of $500,000 insured by the FDIC, $250,000 insured by the NCUA, and <br />$21,715,066 collateralized under the PFCP. <br />At June 30, 2015, the City had $181,815 in deposits (cash with fiscal agent) held by escrow companies that were <br />uninsured and uncollateralized. <br />Investments <br />As of June 30, 2015, the City held the following investments and maturities: <br />Interest Rate Risk <br />As a means of limiting its exposure to losses from rising interest rates, the City’s investment policy limits investment <br />as follows: <br />Maximum <br />length <br />Investment typeto maturity <br />Bankers' acceptances6 months <br />Corporate indebtedness18 months <br />Local government investment pool1 day <br />State and local government obligations3 years <br />U.S. agency securities3 years <br />U.S. treasury securities3 years <br />With the exception of pass-through funds, the maximum amount of pooled investments to be placed in the Local <br />Government Investment Pool is limited by Oregon Statute to $46,801,588, which increases periodically <br />proportionately to the Portland Consumer Price Index. The limit can be temporarily exceeded for ten business days <br />and does not apply either to pass-through funds or to funds invested on behalf of another governmental unit. <br />continued <br />52 <br />