Indianapolis Airport Authority - Indianapolis International Airport

indianapolis Airport AuthorityNotes to Financial StatementsDecember 31, 2010 and 2009Concentration of Credit Risk - The Authority places the following limits on the amount that may be investedin any one issuer: (1) no more than 50% of total investments with any one governmental agency;(2) no more than 25% in any one money market mutual fund, investment pool or certificate of deposit;and (3) no more than 15% with any one Indiana municipal issuer. At December 31, 2010, the Authoritydid not have investments in excess of these limits. Furthermore, no single issuer of the Indiana municipalsecurities in which the Authority has invested exceeded 5% of total investments. The following governmentalagency investments held by the Authority are not explicitly guaranteed by the U.S. Governmentand are subject to concentration of credit risk:2010 2009Federal Home Loan Mortgage Corporation discount notes $ 2,231,161 $ 9,920,709Federal National Mortgage Association 34,902,633 -Federal Home Loan Bank discount notes 1,000,000 -$ 38,133,794 $ 9,920,7092010 20092010Foreign Currency Risk - This risk relates to adverse affects on the fair value of an investment2009Federalfrom changesHome Loanin exchangeMortgagerates.CorporationThe Authority’sdiscountinvestmentnotespolicy prohibits$ 2,231,161investments in$foreign9,920,709Cash Federal and National cash equivalents Mortgage Association 34,902,633 -Federalinvestments.Current Home - unrestricted Loan Bank discount notes $ 44,407,768 1,000,000 $ 46,111,435 -Current - restricted 54,071,634 47,582,423Noncurrent - restricted 141,616,773 179,830,273Summary of Carrying Values$ 38,133,794 $ 9,920,709Total cash and cash equivalents 240,096,175 273,524,131Cash, cash equivalents, and investment securities included in the balance sheets are classified as follows:Investment securitiesNoncurrent - unrestricted 9,577,275 -Noncurrent - restricted 4,497,301 2010 9,920,709 2009Total investment securities 14,074,576 9,920,709Cash and cash equivalentsCurrent - unrestricted $ 254,170,751 44,407,768 $ 283,444,84046,111,435Current - restricted 54,071,634 47,582,423Noncurrent - restricted 141,616,773 179,830,273Total cash and cash equivalents 240,096,1752010273,524,1312009Investment securitiesInterest Noncurrent and dividend - unrestricted income $ 6,210,897 9,577,275 $ 9,531,422 -Noncurrent - restricted 4,497,301 9,920,709Total investment securities 14,074,576 9,920,709$ 254,170,751 $ 283,444,8402010 20092010 2009Revenue Bond Interest and Principal Fund $ 53,588,251 $ 47,112,220Revenue Interest and Bond dividend Reserve income Fund $ 81,164,090 6,210,897 $ 105,153,842 9,531,422Operation and Maintenance Reserve Fund 12,003,898 11,996,916Renewal and Replacement Fund 2,549,274 2,547,746Capital Improvement Fund 26,099,258 32,296,693Passenger Facility Charge Fund 7,924,273 14,000,145Debt Service Coverage Fund 16,139,678 16,032,241Construction Fund - 2004A Revenue Bonds - 7,484,983Customer deposits 2010 483,383 2009 470,203