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CITY OF SOUTH BEND <br />NOTES TO FINANCIAL STATEMENTS <br />(Continued) <br />Concentration of Credit Risk <br />Concentration of credit risk is the risk of loss attributed to the magnitude of a government's invest- <br />ment in asingle issuer. The City does not have a policy in regards to concentration of credit risk. <br />United States ofAmerica govemmentand United States ofAmerica govemmental agency securi- <br />tiesare exempt from this policy requirement. <br />Foreign Currency Risk <br />The City does not have a formal policy in regards to foreign currency risk. The City does not have <br />any foreign currency. <br />B. Receivables <br />The following receivable accounts have timing and credit characteristics different from typical <br />accounts receivable. As of December 31, 2006, City funds recognized the following loan receivable <br />balances. The schedule shows the total receivable and the portion that is not due within one year. <br />These loans were for economic development projects. <br />Fund Receivable Noncurrent <br />Major governmental funds: <br />County Option Income Tax <br />Nonmajor governmental funds: <br />Economic Development State Grants <br />Community Development <br />Industrial Revolving <br />$ 266,667 $ 233,333 <br />3,855,748 3,395,950 <br />1,417,914 1,241,432 <br />3,986,144 3,543,079 <br />Totals <br />C. Capital Assets <br />$ 9,526,473 $ 8,413,794 <br />Capital asset activity for the year ended December 31, 2006, was as follows: <br />Beginning Ending <br />Primary Government Balance Increases Decreases Balance <br />Governmental activities: <br />Capital assets, not being depreciated: <br />Land $ 11,564,931 $ - $ 25,000 $ 11,539,931 <br />Construction in progress 6,214,193 1,796,967 6,426,761 1,584,399 <br />Total capital assets, not <br />being depreciated 17,779,124 1,796,967 6,451,761 13,124,330 <br />55 <br />