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CITY OF MYRTLE BEACH, SOUTH CAROLINA NOTES TO FINANCIAL STATEMENTS June 30, 2010

B. Investments

At year-end, the City’s investments consisted of the following:

Repurchase Agreement U.S. Treasury Bill Money Market Mutual Funds State Treasurer’s Investment Pool

07/01/10

Not Rated

09/23/10

N/A

Not Available

AAA

2 Months Average

Not Rated

Maturities

S&P Credit Rating

Fair Value

$

$

4,526,000 715,735 17,830,268 11,821,443 34,893,446

% of Total Investments

12.97% 2.05 51.10 33.88 100.00%

The City’s investment policy limits investments in debt securities and mutual funds to the top rating issued by nationally recognized statistical rating organizations. The City’s investment policy does not limit the amount it may invest in any one investment issuer. As a means of managing its exposure to fair value losses arising from increasing interest rates, the City’s investment policy generally limits investment maturities to a maximum of one year.

At year-end, the MBCCHC’s investments consisted of the following:

Federal National Mortgage Association Money Market Mutual Funds

09/01/10

AAA

$

1,521,340

26.34%

Not Available

AAA

4,255,348

73.66

$

5,776,688

100.00%

% of Total Investments

Maturities

S&P Credit Rating

Fair Value

General

Convention

Hospitality

Option Tourism

Fund

Center Fund

Fee Fund

Fee Fund

The MBCCHC does not have a formal investment policy that (a) limits its investment choices based on investment credit ratings, (b) limits the amount it may invest in any one investment issuer or (c) limits investment maturities as a means of managing its exposure to fair value losses arising from increasing interest rates.

Note 5 - RECEIVABLES (NET)

Receivables at June 30, 2010, including the applicable allowances for doubtful accounts, are as follows:

Local

4,883,067

4,883,067

4,883,067

95 353

, 2,305

97,658

$

97,658

$

Property Taxes Local Accommodations Taxes Hospitality Fees Storm Water Fees Accounts Intergovernmental Loans

Allowances for Doubtful Accounts

$

1,350,964 $ (57,674) 1,293,290 $

1,350,964

$

$

9,405,093 $

(5,308,929)

$

4,096,164 $

$

3,811,667 $

5,009,283 584,143

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