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TOWN OF MASHPEE, MASSACHUSETTS <br /> NOTES TO FINANCIAL STATEMENTS <br /> JUNE 30,E 1950 <br /> H. Total Columns on Combined Statements. Total columns on the com- <br /> bined statements are captioned "Memorand urn Only" to indicate that they <br /> are presented only for informational purposes. Adjustments to �(;+� <br /> eliminate interfund transactions have not been made and data in these <br /> columns. do riot present financial position or represent consolidated <br /> information. t^ <br /> NOTE 2. - CASH AND I NVESTMENTS j*1 <br /> The Town, maintains a cash and investment pool that is available for <br /> use by all funds. Each fund type' s portion of this pool is reflected <br /> on the general purpose financial statements under the caption "cash <br /> and temporary investments". The interest earnings attributable to <br /> each fund type is included under "investment income". In addition, <br /> separate investments are maintained for certain funds and are <br /> reflected in the general purpose financial statements ir, the same man- <br /> ner. <br /> State and local statutes place certain limitations on the nature of <br /> deposits and investments available to towns. Deposits (including <br /> demand deposits, term deposits and certificates of deposit) in any one <br /> financial institution may not exceed certain levels within col- <br /> lateralization by the financial institutions involved. Investments <br /> can also be made irs securities issued by or unconditionally guaranteed <br /> by the U.S. Government or Agencies that have a maturity of less than <br /> one year from the date of purchase, repurchase agreements guaranteed <br /> by such securities with maturity dates of no more thar, 90 days from <br /> the date of purchase and units in the Massachusetts Municipal <br /> Depository Trust. <br /> Deposits <br /> The Towr, maintains deposits in several financial institutions. At <br /> year end, the carrying amount of the Town' s deposits was $7, 432,562, <br /> and the bank balance was $7,771,61Cr, Of the bank balance, $1,010,027 <br /> was covered by federal depositary insurance and $6,761,583 was unin- <br /> sured and uncollateralized. <br /> The composition of the Town' s bank recorded deposits and investments <br /> or, the timing of real estate tax <br /> fluctuates depending primarily <br /> receipts, proceeds from borrowings, collection, of state and federal <br /> aid and capital outlays throughout the year. <br /> 17 <br />