Investment O. 32nd Qtrly ReportFrom:
To:
Regarding:
City of Dubuque, Investment Oversight Commission
MEMBERS of the CITY COUNCIL OF DUBUQUE
Quarterly Report
In Accordance with Ordinance No. 50-92 (3) Sec. 2-231, City code, the City of Dubuque
Investment Oversight Commission (lOC) respectfully submits the 32nd quarterly report.
The IOC members met on April 19, 2001. The transactions reviewed through March 2001 appear
to be in compliance with the Articles in the Investment Policy.
Kim Kueter, Vice President with Firstar Bank made a presentation to the IOC. Mr. Kueter
discussed the current interest rote environment, investment options, recent performance of funds
managed by Firstar Bank and some future options for the funds they manage for the City. There
was a review of the funds invested in the Vanguard GNMA Fund. This is a bond fund that Firstar
Bank has some funds invested in. After some discussion it appears that this bond fund does meet
the investment guidelines.
The lOC did not receive any communication or questions from the public. However, Mr. TeKippe
did review proposal by First Community Trust to manage some funds for the City. The City
Manager responded to First Community Trust that they should have at least a full year ofhistery
on their performance of managing funds before the City would consider using their services. The
IOC supports waiting to let First Community Trust develop a track record as a prudent action.
Respectfully submitted
Paul Lassance
Chairman
Investment Oversight Commission