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CITY OF SANTA ANA, CALIFORNIA <br />AIR QUALITY IMPROVEMENT SPECIAL REVENUE FUND <br />NOTES TO FINANCIAL STATEMENTS (CONTINUED) <br />June 30, 2020 <br />2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED): <br />F. Estimates: <br />The preparation of financial statements in accordance with accounting principles generally <br />accepted in the United States of America requires management to make estimates and <br />assumptions that effect certain reported amounts and disclosures. Accordingly, actual results <br />could differ from those estimates. <br />3. CASH AND INVESTMENTS: <br />AQMD's cash and investments balances are pooled with various other City funds for deposit and <br />investment purposes. Each fund's share of the pooled cash account is separately accounted for, and <br />investment income is apportioned to the participating funds based on the relationship of their <br />average daily balances to the total of the pooled cash and investments. Information regarding the <br />credit risk and authorized types of deposits and investments in the City's pooled cash and <br />investments is included in the City's Comprehensive Annual Financial Report. This report can be <br />obtained from the City of Santa Ana. <br />9 <br />