Quarterly Investment Rep. 3 31CITY OF DUBUQUE, IOWA
MEMORANDUM
April 30, 2001
TO:
FROM:
SUBJECT:
The Honorable Mayor and City Council Members
Michael C. Van Milligen, City Manager
March 31, 2001 Quarterly Investment Report
Finance Director Ken TeKippe is transmitting the attached March 31, 2001 Quarterly
Investment Report.
Michael C Van Milligen
MCVM/jh
Attachment
CC:
Barry Lindahl, Corporation Counsel
Kenneth J. TeKippe, Finance Director
CITY OF DUBUQUE, IOWA
MEMORANDUM
TO:
FROM:
RE:
DATE:
Michael Van Milligen, City Manager
Kenneth J. TeKippe, Finance Director
March 31, 2001 Quarterly Investment Report
April 13, 2001
INTRODUCTION
The Finance Department is submitting the quarterly investment report as prescribed within the
City of Dubuque Investment Policy Section 17.0 "Reporting."
DISCUSSION
This report covers the period from January 1, 2001 through March 31, 2001.
The report includes: Cash Investments and Investment Earnings Summary
for quarter ended March 31, 2001 and fiscal year to date
Schedule of City Funds (2 pages)
Monthly Investmem Summary (2 pages)
Schedule of U.S. Treasury Securities
Schedule of Certificates of Deposit
The valuations reflect the same basis that the assets are carried on the financial.records of the
City. The City of Dubuque is in compliance with the Investment Policy.
REQUESTED ACTION
This report is for your review and filing with the HOnorable Mayor and City Council.
KJT/gmm
Enclosures
CITY OF DUBUQUE
Cash, Investments and Investment Earnings Summary
For The Quarter Ended March 31, 2001 & Fiscal 2000-01 YTD
Market Value /
Carrying Including
Description Vaiue Accrued Interest
Deposits, Change & Petty Cash Funds
Checking/Savings Accounts
Certificates Of Deposit
US Treasury Securities
Corporate Stock
Investment Advisor Accounts
Unrealized
Gain (Loss) /
Accrued Interest
Total Funds
61,675 61,675 0
13,537,632 13,537,632 0
18,548,416 18,784,246 235,830
6,803,130 6,926,595 123,465
t0,391 94,340 83,949
22,678,382 23,296,699 618,318
61,639,625 62,701,187 1,061,:562
Breakdown
city
Metro
Total Combined Funds
54,478,548
7,161,077
61,639,625
55,431,630 953,083
7,269,557 108,480
62,701,187 1,061,562
Cash Basis
Gross Earnings:
Metro
Combined
Investment Fees:
city
Metro
Combined
Net Earnings:
Metro
Combined
I
Quarter
909,055
112,167
38,461
112
38,573
870,594
112,056
982,650
Year-To-Date I
2,393,256
371,347
2,764,603
110,636
372
111,007
2,282,620
370,976
2,653,596
CITY OF DUBUQUE
SCHEDULE OF CITY FUNDS
FOR MONTH ENDING MARCH 31, 2001
MANAGED FUNDS
PORTFOLIO
COMPOSITION
PERCENT~i GE
COST
B.48IS
TOTAL
CITY FUNDS
PERCENTAGE
DANA INVESTMENT ADVISORS, INC.:
Cash
Mutual Funds (US Govenwaent)
Certificates Of Deposit
US Treasury Obligmicas
Federal Agency Obligations
Total
0.00% 0.00
0.02% 1,595.29
0.00% 0.00
0.00% 0.00
99.98% 7,490,996.84
100.00% 7,492,592.13
12.16%
DUBUQUE BANK & TRUST COMPANY:
Cash
Mutual Funds (US Govexnment)
Certificates Of Deposit
US Treasury Obligations
Federal Agency Obligations
Total
0.00% 0.00
11.28% 846,092.72
0.00% 0.00
0.00% 0.00
88.72% 6,652,515.72
100.00% 7,498,608.44
12.17%
FIRSTAR:
Cash
Mutual Funds (US Government)
Certificates Of Deposit
US Treasury Obligations
Federal Agency Obligations
Total
GRAND TOTAL
0.00% 0.00
12.07% 927,764.65
5.25% 403,490.81
37.86% 2,910,478.77
44.82% 3,445,446.71
100.00%
7,687,180.94 12.47%
22,678,381.51 36.79%
BREAKDOWN BY TY~E OF SECURITY:
Cash
Mutual Funds (US Govexnment)
C~rfificates Of Deposit
US Treasury Obligations
Federal Agency Obligations
TOTAL MANAGED FUNDS
0.00% 0.00 0.00%
7.83% 1,775,452.66 2.88%
1.78% 403,490.81 0.65%
12.83% 2,910,478.77 4.72%
77.56% 17,588,959.27 28.54%
100.00% 22,678,381.51 36.79%
Page I
CITY OF DUBUQUE
SCHEDULE OF CITY FUNDS
FOR MONTH ENDING MARCH 31, 2001
OTHER FUNDS ]
CASH
Change Funds and Petty Cash
NPA & Workers Comp Deposit
Total
COST
BASIS
8,675.00
53,000.00
61,675.00
TOTAL
CITY FUNDS
PERCENT,~GE
0.10%
CHECKING/ SAVlNGS ACCOUNTS:
American Trust & Savings Bank (General Sweep Acct)
American Trust & Savings Bank (Bond Proceeds)
American Trust & Savings Bank (I-/ousing gek~b)
Dubuque Bank & Trust Co. (C:~aera~e~ro/L~isure Service)
Firstar Bank (C-enetattaeaWa~e~Am~an~5 ~ags)
Liberty Ct~ty)
Premie~ (utai~y)
Total
3,180,981.84
4,890,174.89
67,552.00
4,782,632.23
606,901.31
6,654.14
2,735.77
13,537,632.18
21.96%
CERTIFICATES OF DEPOSIT:
American Trust & Savings Bank
Dupaco Community Credit Union
Dubuque Bank & Trust Co.
East Dubuque Savings Bank
Liberty Bank
1,000,000.00
1,014,747.62
3,000,000.00
4,533,668.12
9,O00,O00.00
18,548,415.74
30.09%
U.S. TREASURY OBLIGATIONS
6,803,130.00
11.04%
CORPORATE STOCK (Lyom reoay Trust)
10,390.70
0.020/0
TOTAL OTHER FUNDS
38,961.,243.62
63.21%
TOTAL CITY FUNDS
61,639,625.13
100.00%
IRECAP OF PORTFOLIO PERCENTAGES
CASH
CHECKING / SAVINGS ACCTS
MUTUAL FUNDS (U.S. GOVERNMENT)
CERTIFICATES OF DEPOSIT
U.S. TREASURY OBLIGATIONS
FEDERAL AGENCY OBLIGATIONS
CORPORATE STOCK
Total
M~AGED
FUNDS
0.00%
0.00%
2.88%
0.65%
4.72%
28.54%
0.00%
OTHER
FUNDS
0.10%
21.96%
0.00%
30.09%
11.04%
0.00%
0.02%
COMBINED
TOTAL
0.10%
21.96%
2.88%
30.75%
15.76%
28.54%
0.02%
36.79%
63.21%
100.00%
Page 2
COST BASIS ANALYSIS
Cost Basis Prior Month
Additions:
Interest Earnings
Realized Gains (Losses)
Subtractions:
Management Fees
Custodial Fees
Bank Cha~es
Total Additions
Total Subtractions
Cost Basis Current Month
Net Cash Receipts & (Disbursements)
Ending Cost Basis Balance
CITY OF DUBUQUE
MONTHLY INVESTMENT SUMMARY
Month Ending: Mar-31-01
Managed Combined
Dana DB&T Firstar Accounts City Finance Total
7,456,083.98 7,473,498.98 7,681,204.49 22,610,787.45 39,346,641.58 61,957,429.03
39,939.63 26,375.85 13,812.47 80,127.95 252,340.86 332,468.81
(2,798.51) (618.45) (18.56) (3,435.52) 0.00 (3,435.52)
37,141.12 25,757.40 13,793.91 76,692.43 252,340.86 32%033.29
0.00 0.00 7,172.30 7,172.30 0.00 7,172.30
632.97 647.94 645.16 1,926.07 0.00 1,926.07
0.00 0.00 0.00 0.00 1,369.59 1,369.59
632.97 647.94 7,817.46 9,098.37 1,369.59 10,467.96
7,492,59Z 13 7,498,608.44 7,687,180.94 22,678,381.51 39,597,612.85 62,275,994.36
0.00 0.00 0.00 0.00 (636,369.23) (636,369.23)
7,492,592.13 7,498,608.44 7,687,180.94 22,678,381.51 38,961,243.62 61,639,625.13
RETURN ON ASSETS
Cost Basis Current Month
Plus: Aeamed Interest Current Month
Less: Accrued Interest Prior Month
Cost Basis Adjusted for Accruals
Annualized Return: Current Month
.Snnualized Return: Prior Month
7,492,592.13 7,498,608.44 7,687,180.94 22,678,381.51 39,597,612.85 62,275,994.36
70,134.15 97,943.99 110,100.73 278,178.87 359,294.98 637,473.85
(64,275.78) (83,738.79) (80,667.24) (228,681.81) (417,646.65) (646,328.46)
7,498,450.50 7,512,813.64 7,716,614.43 22,727,878.57 39,539,261.18 62,267,139.75
6.82% 6.31% $.$3% 6.21% $.87% 6.00%
6.20% 5.83% 6.03% 6.02% 6.24% 6.16%
Page 1
MARKET VALUE ANALYSIS
Investment Market Value Prior Month
Investment Market Value Current Month
: Accrued Interest Current Month
Market Value Adjusted for Accruals
Net Cash Receipts & (Disbursements)
Ending Investment Market Value Adjusted
Market Value Percentage Change-Current
Market Value Percentage Change-Prior
CITY OF DUBUQUE
MONTHLY INVESTMENT SUMMARY
Dana DB&T Firstar
7,455,623.78 7,834,279.83 7,864r452.17
7,429,952.40 7,790,752.92 7,797,815.18
70,134.15 97,943.99 110,100.73
Accounts.
23,154,355.78
23,018,520.50
278,178.87
23,296,699.37
0.00
23,296,699.37
0.61%
O. 77%
7,500,086.55 7,888,696.91 7,907,915.91
0.00 0.00 0.00
7,500,086.55 7,888,696.91 7,907,915.91
0.60% 0.69% 0.55%
0.76% 0.85% 0.69%
Month Ending:
Cit~ Finance
39,852~928.53
39,045,193.11
359,294.98
39,404,488.09
(636,369.23)
40,040,857.32
0.47%
O.49%
Mar-31-01
Combined
Total
63,007,284.31
62,063,713.61
637,473.85
62,701,187.46
(636,369.23)
63,337,556.69
O.52%
O.~9%
Market Indices
Average Last Average Last Calendar
3 Months 12 Months Year to Date
90 Day T-Bills
Lehman Aggregate Govt. Bonds
Lehman Short Term Govt. Bonds
Lehman Intermediate Govt. Bonds
Consumer Price Index
Current Prime Rate*
1.51%
3.03%
2.80%
3.00%
1.10%
6.30%
12.53~
9.81°,4
11.96~
3.55~
*Rate as of
1.51%
3.03%
2.80%
3
1.10%
8.00%
03-31-01
Page 2
CUSIP No.
912795GA3 Metro
912795GD7 Metro
912795GF2 Metro
912795GL9
912795HA2
912795HE4 Metro
912795HG9
Totals
City of Dubuque
Schedule of U.S. Treasury Securities
As of March 31, 2001
Par Issue Maturity
Value Date Date Price
1,000,000.00 10/05/2000 04/05/2001 96.946
1,000,000.00 10/26/2000 04/26/2001 96.941
1,000,000.00 11/09/2000 05/10/2001 96.914
1,000,000.00 12/14/2000 06/14/2001 97.073
1,000,000.00 01/04/2001 07/05/2001 97.290
1,000,000.00 02/01/2001 08/02/2001 97.553
1,000,000.00 02/08/2001 08/09/2001 97.596
$7,000,000.00
Cost Days to Accrued
Basis Yield Maturity Days
969,460.00 6.318% 4 178
969,410.00 6.328% 25 157
969,140.00 6.386% 39 143
970,730.00 6.047% 74 108
972,900.00 5.586% 95 87
975,530.00 5.031% 123 59
975,960.00 4.940% 130 52
$6,803,130.00
Accrued I
Interest
29,533.19
26,051.92
23,908.02
17,047.36
12,656.59
7,663.68
6,604~40
$123,465.16
Weighted Yield: 5.805%
Weighted Maturity:
70.00 Days
City of Dubuque
Schedule of Certificates of Deposit
As of March 31, 2001
$18,548,415.74
[Certificate Des~?tions
Certificate
Number
Pun~hased
From
%Veighted Yield:
Intenest Compounded
Rate Yield
Compounded Days to Accrued
Yield Maturity Days
7.036% 164 20
6.800% 90 2
6.400% 16 0
6.918% t99 166
6.690% 230 135
6.52O% 6O 122
6.422% 76 106
6.609% 265 100
6.380% 82 100
6.460% 96 87
6.280% 279 85
6.070% 104 78
5.970% 121 61
5.670% 139 43
5,570% 326 39
5.270% 165 17
5.070% 172 l0
5.200% 182 2
6.183%
Weighted Maturity:
156.02 Days
Accrued
Interest
1,925.73
19257
0.00
30,425.75
24,336.99
21,702.88
18,644.38
26,301.37
17,479.45
30,795.62
14,391.78
t2,971.51
19,954~52
6,679.73
5,951.51
2,454.52
1,389.04
t42.47
$235~29,82
4311
4408
30742
4530
501153
113289
5335
5364
505504
50385
501162
50411
50425
50454
50456
50507
50518
32273
Metro
Metro
Metro
EDSB
EDSB
Dupaco
EDSB
DB&T
EDSB
EDSB
DB&T
DB&T
6~80% 7.036%
6.80% 6.800%
6.40% 6.460%
6.69% 6.918%
6.58% 6.690%
6.52% 6.520%
6.42% 6A22%
6.40% 6.609%
6.38% 6.380%
6.46% 6.460%
6.18% 6.280%
6.07% 6.070%
5.97% 5.970%
5.67% 5.670%
5.57% 5.570%
5.27% 5.270%
5.07% 5.070%
5.20% 5.200%
Earnings credited semi-annually and added to principal.
Earnings credited semi-anuually and added to principal.
Earnings credited quarterly and edded to principal.
Earnings credited semi-annually and added to principal.
Eamings credited semi-anngally and added to principal.
Earnings credited at maturity.
Earnings credited at maturity.
Earnings credited semi-annually and added to principal.
Earnings credited at maturity.
Earnings credited at maturity.
Earnings credited semi-annually and added to principal.
Earnings credited at maturity.
Earnings credited at meturity.
Earnings credited at matmiiy.
Earnings paid by check semi.annually
Earnings credited at maturity,
Earnings credited at maturity.
Earnings credited quarterly and added to principal.