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Qtrly Investment Report 9 30 03MEMORANDUM October 28, 2003 TO: FROM: SUBJECT: The Honorable Mayor and City Council Members Michael C. Van Milligen, City Manager September 30, 2003 Quarterly Investment Report Finance Director Ken TeKippe is transmitting the attached September 30, 2003 Quarterly Investment Report. MCVM/jh Attachment cc: Barry Lindahl, Corporation Counsel Cindy Steinhauser, Assistant City Manager Kenneth J. TeKippe, Finance Director CITY OF DUBUQUE, IOWA MEMORANDUM TO: FROM: RE: DATE: Michael Van Milligen, City Manager Kenneth J. T eKippe, Finance Director c~.~ September 30, 2003 Quarterly Investment Report October 16, 2003 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 July 1, 2003 through September 30, 2003. The report includes: Cash Investments and Investment Earnings Summary for quarter ended September 30, 2003 and fiscal year to date Schedule of City Funds (2 pages) Monthly Investment Summary (2 pages) 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. KT/jg Enclosures CITY OF DUBUQUE Cash, Investments and Investment Earnings Summary For The Quarter Ended September 30, 2003 & Fiscal 2003-04 YTD Description Deposits, Change & Petty Cash Funds Checking/Savings Accounts Certificates Of Deposit US Treasury Securities Corporate Stock Investment Advisor Accounts Total Funds Market Value / Unrealized Carrying Including Gain (Loss) / Value Accrued Interest Accrued In~rest 89,350 89,350 0 5,599,313 5,599,313 0 17,016,292 17,095,442 79,150 0 0 0 10,391 54,274 43,883 23,167,447 23,953,976 786,529 45,882,793 46,792,355 909,562 Breakdown Metro Total Combined Funds 35,535,372 36,406,972 871,599 10,347,421 10,385,383 37,963 45,882,793 46,792,355 909,562 Cash Basis Gross Earuinos~.- city Metro Combined lnvostment Fees: c~ Metro Combined Net Earnings: c~y Metro Combined 318,329 26,951 Year-To-Date 318,329 26,951 345,280 345,280 (49,659) (56) (49,659) (56) (49,715) (49,715) 268,670 268,670 26,896 26,896 295,566 295,566 CITY OF DUBUQUE SCHEDULE OF CITY FUNDS FOR MONTH ENDING September 30, 2003 MANAGED FUNDS DANA INVESTMENT ADVISORS, INC.: Cash Mutual Funds (US Government) Certificates Of Deposit US Treasury Obligations Federal Agency Obligations DUBUQUE BANK & TRUST COMPANY: Cash Mutual Funds (US Government) Certificates Of Deposit US Treasury Obligations Federal Agency Obligations FIRST COMMUNn~ TRUST: Cash Mutual Funds (US Government) Certificates Of Deposit US Treasury Obligations Federal Agency Obligations US BANK: Cash Mutual Funds (US Government) Certificates Of Deposit US Treasury Obligations Federal Agency Obligations PORTFOLIO COMPOSITION PERCENTAGE COST BASIS TOTAL CITY FUNDS PERCENTAGE 0.00% 0.00 5.14% 324,867.18 0.00% 0.00 0.00% 0.00 94.86% 5,997,065.58 Total 100.00% 6,321,932.76 13.78% 0.00% 0.00 8.57% 581,617.65 0.00% 0.00 0.00% 0.00 91.43% 6,207,803.03 Total 100.00% 6,789,420.68 14.80% Total GRAND TOTAL 0.00% 0.00 9.03% 274,516.40 0.00% 0.00 0.00% 0.00 90.97% 2,765,978.46 100.00% 3,040,494.86 6.63% 0.00% 0.00 1.75% 123,113~94 1.43% 100,000.00 4.31% 302,039.06 92.51% 6,490,446.13 100.00% 7,015,599.13 15.29% 23,167,447.43 50.49% BREAKDOWN BY TYPE OF SECURITY: Cash Mutual Funds (US Government) Certificates Of Deposit US Treasury Obligations Federal Agency Obligations TOTAL M2LNAGED FUNDS 0.00% 0.00 0.00% 5.63% 1,304,115.17 2.84% 0.43% 100,000.00 0.22% 1.30% 302,039.06 0.66% 92.64% 21,461,293.20 46.77% 100.00% 23,167,447.43 50.49% Page 1 CITY OF DUBUQUE SCHEDULE OF CITY FUNDS FOR MONTIi ENDING September 30, 2003 OTltER FUNDS CASH Change Funds and Petty Cash Express Scripts & Workers Comp Deposits COST BASIS TOTAL CITY FUNDS PERCENTAGE 9,350.00 80,000.00 89,350.00 0.19% CltECKING / SAVINGS ACCOUNTS: American Trust & Savings Bank (General Sweep Acer & Health) American Trust & Savings Bank (America's River-BoM Proceeds) American Trust & Savings Bank (America's River-Vision Iowa) American Trust & Savings Bank (Housing Rehab) Dubuque Bank & Trust (Genem!/Metro/Leisttre Serviee~) Dubuque Bank & Trust {Water Tower/Water Main-Bond Proceeds) Dubuque Bank & Trust (Greyhound Ticket SEes) US BaRk (General/Ambulance/5 Flags) Liberty (ut~ity) Premier CtJtinty) t,703,309.24 1,657,479.27 1,000.00 26,007.45 1,377,544.43 647,336.81 9,288.14 153,539.73 12,265.78 1t,542.58 5,599,313.43 12.20% CERTIFICATES OF DEPOSIT: American Trust & Savings Bank Dupaco Commurdty Credit Union Dubuque Bank & Trust Co. East Dubuque Savings Bank US Bank Liberty Bank Premier Bank Total 0.00 0.00 3,000,000.00 7,000,000.00 0.00 2,016,291.68 5,000,000.00 17,016,291.68 37.09% U.S. TREASURY OBLIGATIONS 0.00 0.00% CORPORATE STOCK (Lyons Peony Trust) 10,390.71 0.02% TOTAL OTllER FUNDS 22,715,345.82 49.51% 45,882,793.25 100.00% TOTAL CITY FUNDS RECAP OF PORTFOLIO PERCENTAGES ] CASH' CHECKING / SAVINGS ACCTS MUTUAL FUNDS (U.S. GOVERNMENT) CERTIFICATES OF DEPOSIT U.S. TREASURY OBLIGATIONS FEDEP,3~ AGENCY OBLIGATIONS CORPORATE STOCK Total M/INA GED OTHER COMBINED FUNDS FUNDS TOTAL 0.00% 0.19% 0.19% 0.00% 12.20% 12.20% 2.84% 0.00% 2.84% 0.22% 37.09% 37.30% 0.66% 0.00% 0.66% 46.77% 0.00% 46.77% 0.00% 0.02% 0.02% 50.49% 49.51% 100.00% Page 2 COST BA~lS ANAL YSI$ Cost Basis Prior Month Additions: Interest Earnings Realized Gains (Losses) Capital Deposits Subtraetlons: Management Fees Custodian Fees Bank Charges Capital Withdrawals Cost Basis Current Month Net Cash Receipts & (Disbursen~ts) Ending Cost Basis Balance Total Additions Total Subtcactioas CITY OF DUBUQUE MONTHLY INVESTMENT SUMMARY MONTH ENDING SEPTEMBER 30, 2003 First Community Managed Combined Dana DB&T Trost US Bank Accounts City Finance Total 6,305,455.47 7,401,503.37 3,035,902.40 7,894,974.18 24,337,835.42 21,101,998.18 45,439,833.60 22,975.08 33,850.23 6,444.78 30,14332 93,413.41 28,399.40 121,812.81 (5,910.77) (5,478.62) (1,401.48) 8,828.41 (3,962.46) 0.00 (3,962.46) 0.00 0.00 0.00 0.00 0.00 0.00 0,00 17,06A31 28,374.61 5,043.30 38,968.73 89,450.95 28,399.40 117,850.35 0.00 (9,O06.76) 0.00 0.00 (9,006.76) 0.00 (9,O06.76) (587.02) (650,54) (450.84) (643.78) (2,332.18) 0.00 (2,332.18) 0.00 0.00 0.00 0.00 0.00 (2,183.69) (2,183.69) 0.00 (630,800.00) 0.00 (617,700.00) (1,248,500.00) 0.00 (1,~A8,8(~0.00) (587.02) (640,457.30) (450.84) (618,343.78) (1,259,838.94) (2,183.69) (1,262,022.63) 6,321,932.76 6~789,420.68 3,{g0,494.86 7,015,599.13 23,167,0A7.43 21,128,213.89 44,295,661.32 0,00 0,~0 0.00 0.00 0.00 1,587,131.93 1,587,131.93 6,321,932.76 6~7891420.68 3,040,494.86 7~015,599.13 23~167,447.43 2217151345.82 45~882,793,25 CHANGE IN COST BASIS ADJUSTED FOR ACCRUALS 6,321,932.76 6,789,420.68 3,040,494.86 7,018,599.13 23,167,447.43 21,128,213.89 44,295,661.32 29,311.22 84,342.21 12,583.64 58,985.56 185,222.63 79,149.53 264,372.16 (31,960.67) (86,405.56) (10,898.81) (68,827.78) (198,092.82) (79,156.56) (277,249.38) 6,319,283.31 6,787~357.33 3,042,179.69 7,095,756.91 23,154,577.24 21,128,206.86 44,282,784.10 CITY OF DUBUQUE MONTHLY INVESTMENT SUMMARY MONTH ENDING SEPTEMBER 30, 2003 First Commtmity Managed Combined Dana DB&T Trust US Bank Accounts City Finance Total M4tRKET VALUE ANAL Y$15 Investment Market Value Prior Month Investment Market Value Current Month Accrued Interes~ Current Month Market Value Adjusted for Aecrnals Net Cash Receipts & (Disbursements) Ending Investment Market Value Ac~justed Portfolio Returns 6,320,312.00 7~89%466.28 3,030,943,18 7,719,612.34 24,970,333.80 21~225~310,85 46~195,644.65 6,307,374.10 7,273,87A.74 3,055,170.05 7,132,384.$8 23,768,753,47 21,172,097.24 44,940,850.71 29,311.22 84,342.21 12,583.64 58,985.56 185,222.63 79,149,53 264,372.16 6.336,685.32 7,358,166,95 3.067,753.69 7,191,370.14 23~953,976,10 21,251,246.77 45,205,222.87 0.00 0.00 0,00 0.00 0.00 1,587~131.93 1,587,131.93 6,336,685.32 7,3587166.95 3t067t753.69 7,191,370.14 23,953,976.10 22,838,378.70 46,7927~4~80 0.28% 1.26% 1.23% 1,18% 0.99% 2.03% 2.00% 1.67% 1.92% 1.91% Murket Indices Average Laat 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 Currant Prime Rate* 0.25% I (0.80%)I 0,41% { (0,13%) 0.70% 1.22% 0.83% I 3.55% 2.80%I 2.80% 1,86% I 3.49% 2,49% I 2.22% 1.61% 4,00% *Rate as of 09-30-03 City of Dubuque Schedule of Certificates of Deposit As of September 30, 2003 Certificate Number 505636 406068 9193 505599 51729 406167 51721 9780 406211 9670 9800 505640 9861 9862 9902 406335 9928 Totals Purchased From DB&T Premier (M) EDSB DB&T (M) Liberty Premier Liberty EDSB (M) Premier (M) EDSB EDSB DB&T (M) EDSB (M) EDSB (M) EDSB (M) Premier (M) EDSB (M) Cost Purchase Maturity Last Interest Interest Days to Accrued Basis Date Date Payment Rate Maturity Days 1,000,000.00 04/17/03 10/02/03 04/17/03 1.270% 2 166 1,000,000.00 04/03/03 10/30/03 04/03/03 1.371% 30 180 1,000,000.00 01/02/03 11/13/03 01/02/03 1.460% 44 271 1,000,000.00 04/09/03 11/20/03 04/09/03 1.310% 51 174 1,007,465.93 12/27/02 11/26/03 06/25/03 1.500% 57 97 1,000,000.00 05/15/03 12/01/03 05/15/03 1.415% 62 138 1,008,825.75 12/26/02 12/11/03 06/25/03 1.770% 72 97 500,000.00 05/16/03 12/11/03 05/16/03 1.310% 72 137 1,500,000.00 06/05/03 12/11/03 06/05/03 1.310% 72 117 1,000,000.00 04/16/03 12726/03 04/16/03 1.336% 87 I67 1,000,000.00 05/30/03 12/26/03 05/30/03 1.290% 87 123 1,000,000.00 05/22/03 01/08/04 05/22/03 1.270% 100 131 500,000.00 06/25/03 01/29/04 06/25/03 1.360% 121 97 1,000,000.00 06/25/03 02/05/04 06/25/03 1.290% 128 97 1,000,000.00 07/09/03 03/11/04 07/09/03 1.290% I63 83 1,500,000.00 08/07/03 04/0 t/04 08/07/03 1.495% 184 54 1,000,000.00 09/25/03 05/06/04 09/25/03 1.130% 219 5 $17,016,291,68 Weighted Yield: 1.368% Weighted Maturity: 93.06 Days Accrued I Interest 5,775.89 6,761.10 10,840.00 6,244.93 4,016.06 5,349.86 4,745.35 2,458.49 6,298.77 6,112.66 4,347.12 4,558.08 1,807A2 3,428.22 2,933.42 3,317.67 154.79 $79,149.53