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RE <br />5 Ilk -12A Al <br />Notes to the Financial Statements <br />June 30, 2020 <br />NOTE 2 —CASH AND INVESTMENTS (continued) <br />The following is a summary of cash and investments at June 30, 2020: <br />Cash and investments <br />Restricted: <br />Investment in Sction 115 Trust <br />Government -Wide <br />Statement <br />Net Position <br />Governmental <br />Activities <br />Fiduciary Fund <br />Statement of <br />351877)630 5847648 $ 3614621278 <br />832701720 812701720 <br />Total 4431481350 5841648 $ 4417327998 <br />A. Summary of cash and investments <br />Cash and investments comprised the following at June 30, 2020: <br />Cash and cash equivalents: <br />Petty cash $ 1,500 <br />Cash on hand 18,975 <br />Demand deposits 2,163,220 <br />Total cash and cash equivalents 2,183,695 <br />Investments: <br />Local Agency Investment Fund 2,909,562 <br />Moderate Highmark PLUS 8,270,720 <br />Ventura County Investment Pool 31,369,021 <br />Total investments 42)549)303 <br />Total cash and investments $ 44,732,998 <br />B. Cash deposits <br />The carrying amounts of the District's demand deposits were $2,163,220 at June 30, 2020. <br />Bank balances at June 30, 2020 were $2,198,038 which were fully insured or collateralized <br />with securities held by the pledging financial institutions in the District's name as discussed <br />below. <br />The California Government Code requires California banks and savings and loan associations <br />to secure the District's cash deposits by pledging securities as collateral. This Code states <br />that collateral pledged in this manner shall have the effect of perfecting a security interest in <br />such collateral superior to those of a general creditor. Thus, collateral for cash deposits is <br />considered to be held in the District's name. <br />34 <br />