At June 30, 2010 and 2009, the University had petty cash funds totaling zero, and deposits as reflected by bank balances as follows:
2010 2009
Insured, commercial banks $ 100,000 $ 100,000
Uninsured, commercial banks; collateral held by pledging institution's agent in the University's name 7,255,846 2,754,500
Maintained by Commonwealth of Kentucky 16,699,628 14,858,960
$ 24,055,474 $ 17,713,460
The difference in the cash-carrying amount per the statement of net assets and the above bank balances represented items in transit.
At June 30, 2010 and 2009, the University had no cash and cash equivalents that are restricted for capital expenditures.
The following schedule reports the fair values and maturities (using the segmented time distribution method) for the University's investments at June 30, 2010:
Investment Type Fair Value Investment Maturities (in years)
Bonds $ 3,260,944 $ 228,949 $ 1,180,402 $ 1,519,511 $ 332,082
Bond Mutual Funds 910,273 - 910,273 - -
Money Market Funds 708,992 708,992 - - -
Real Estate Investments 104,663 - 104,663 - -
4,984,872 $ 937,941 $ 2,195,338 $ 1,519,511 $ 332,082
Equities and Equity
Mutual Funds 5,140,327
< 1 1-5 6-10 Over 11
$ 10,125,199
28.