2009 Comprehensive Annual Financial Report - Apex Park and ...

I. Summary of Significant Accounting Policies (continued)
The District pools cash resources for all funds to facilitate the management of cash. Cash
applicable to a particular fund is readily identifiable. The balance in the pooled cash
accounts is available to meet current operating requirements. Cash in excess of current
requirements is invested in various interest-bearing securities and disclosed as part of the
District's investments. Cash overdrafts from pooled cash and investments are reported as
an interfund receivable/payable.
Colorado State Statues require that the District use an eligible public depository as defined
by the Public Depository Protection Act (PDPA). Under the PDPA, the depository is
required to pledge a pool of eligible collateral having a market value at all times equal to
at least 102% of the aggregate public deposits held by the depository not insured by
Federal Depository Insurance. The pool for all of the uninsured public deposits as a group
is to be maintained by another institution or held in trust. Each institution designated as a
public depository can be assessed a portion of the losses of a public entity's deposits in a
failed public depository. Thus, all public deposits are fully collateralized. Eligible
collateral as defined by the PDPA primarily includes obligations guaranteed by the U.S.
Government, the State of Colorado or any subdivision thereof and obligations evidenced
by notes received by first lien mortgages or deeds of trust on real property.
The District adheres to the Colorado State Statutes with regard to allowable investments.
Specifically, the District has chosen to limit its investment purchases to the following
types:
a. Fully insured andlor collateralized certificates of deposit issued by qualified
commercial banks and savings and loan associations within the State of Colorado.
b. Direct obligation of the United States Government.
c. Obligations of certain U.S. Government agencies.
The District's investments are stated at fair value. The fair value of the District'S
investments is based upon values provided from quoted market prices.
2. Receivables and Payables
All outstanding balances between funds are reported as "due to/from other funds" (i.e., the
current portion of interfund loans) or "advances to/from other funds" (i.e., the non-current
portion of interfund loans). Any residual balance outstanding between the governmental
activities and business-type activities are reported in the government-wide financial
statements as "internal balances."
Advances between funds, as reported in the fund financial statements, are offset by a fund
balance reserve account in applicable governmental funds to indicate that they are not
available for appropriation and are not expendable available financial resources.
All trade receivables are reported net of allowances for uncollectibles. No allowance for
uncollectibles is included in the property tax receivable.
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