Loading...
Investment Rep Qtrly- June 30CITY OF DUBUQU£, IOWA MEMORANDUM July 31, 2001 TO: FROM: SUBJECT: The Honorable Mayor and City Council Members Michael C. Van Milligen, City Manager June 30, 2001 Quarterly Investment Report Finance Director Ken TeKippe has submitted the enclosed Quarterly Investment Report. Michael C. Van Milligen 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. TeKippe, Finance Director June 30, 2001 Quarterly Investment Report July 24, 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 April 1, 2001 through June 30, 2001. The report includes: Cash Investments and Investment Earnings Summary for quarter ended June 30, 2001 and fiscal year to date Schedule of City Funds (2 pages) Monthly Investment 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 June 30, 2001 & Fiscal 2000-01 YTD Description Market Value / Unrealized Carrying Iuel~din~ Gain (Lo~) ! Value Accrued I~erest Accrued Interest Deposits, Change & Petty Cash Funds Checking/Savings Accounts Certificates Of Depesit US Treasury Securities Corporate Stock Investment Advisor Accounts Total F~mds 62,075 62,075 0 10,864,498 10,864,498 0 26,082,759 26,431,382 348,624 2,924~390 3,057,190 132,800 10,391 89,704 79~313 22,998,798 23,639,343 640,545 62,942~10 64,144,191 1,201,281 Breakdown City Me~o Total Combined Funds 55,616,057 56,796,029 1,179,971 7,326,853 7,348,163 21,310 62,942,910 64,144,191 1,201,281 Cash Basis Gress Earnings: Metro Combined Investment Fees: Metro Combined Net Earnings: Metro Combined Year-To-Date 3,177,390 501,022 3,678,412 743,5341 3,026,154 129,455! 500,431 s72,09o! ~,~26,.~ 40,600[ 151,236 2191 591 40,8191 151,826 CITY OF DUBUQUE ,~.:H ~;r~ULE OF CITY FUNDS FOR MONTH ENDING JUNE 30, 2001 PORTFOLIO TOTAL COMPOSITION COST CITY FUNDS PERCENTAGE BASIS PERCENTAGE DANA INVESTMENT ADVISORS, INC.: Cash Mutual Funds (US Go'~.m*unt) Ccrtificams Of Deposit US Treasury Obligations Federal Agency Obligations Total 0.00% 0.00 3.84% 291,982.95 0.00% 0.00 0.00% 0.00 96.16% 7,312,200.35 100.00% 7,604,183.30 12.08% DUBUQUE BANK & TRUST COMPANY: Cash Mutual Funds (US Gov~-nment) Certifi~t~ Of Deposit US Treozury Obligations Federal Agency Obligations 0.00% 0.00 5.84o/0 442,922.62 0.00% 0.00 0.00% 0.00 94.16°/o 7,142,855.45 100,00% 7,585,778.07 12.05% FIRSTAR: Cash Mutual Funds (us Government) Certificates Of Deposit US Treasury Obligations Federal Agency Obligations 0.00% 0.00 8.81% 687,636.26 6.45% 503,490.81 23.81% 1,859,409.88 60.93% 4,758,299.63 100.00% 7,808,836.58 12.41% 22,~98,797.95 36.54% BREAKDOWN BY TYPE OF SECURITY: Cash Mutual Funds (US Gow,~ent) Ce~'tiflcates Of Deposit US Treaaury Obligations Federal 3~.ncy Obligations TOTAL MANAGED FUNDS 0.00% 0.00 0.00% 6.19% 1,422,541.83 2.26% 2.i9% 503,490.81 0.80% 8.08% 1,859,409.88 2.95% 83~54% 19,213,355.43 30.53% 100.00% 22,998,797.95 36.54% Page 1 OTHER FUNDS CASH Cha~ge Funds and Petty Cash NPA & Workers Comp Deposit City OF DUBUQUE SCHEDULE OF CrrY FUNDS FOR MON1H ENDING JUNE 30, 2001 Total TOTAL COST CITY FUNDS B~IS PERCENTAGE 9075.00 53,000.00 62,075.00 0. t0°.4 CHECKING / SAVINGS ACCOUNTS: American Trust & Savings Bank (Cure, mi Svn~ American Trust & Savings Bank 05and Proce~) American Trust & Savings Bank (H~mg Red, ab) Dubuque Bmflc & Trust Co. (c~M~ Firstat Bank (Gen~ea~F~x/Aa~aa~5 F~s) Premier Tota/ 3,073,460.48 3,733,527.77 239,080.52 3,389,655.00 412,787.96 12,913.26 3,072.96 10,864,497.95 17.26% CERTHqCATES OF DEPOSIT: American Trust & Savings Bank Dupaco Community Credit Union Dubuque Bank & Trust Co. East Dubuque Savings Bank Liberty Bank Premier Bank 3,000,000.00 4,000.000.00 3,032,606.93 4,050,151.57 10,000,000.00 2,000~000.00 26,082,758.50 41.44o/o U.S. TREASURY OBLIGATIONS 2,924,390.00 4.65% CORPORATE STOCK (Lyons Peony Tins0 10390.70 0.02% TOTAL OTHER FUNDS 39,944,112.15 63.46% TOTAL CITY FUNDS 62,942,910.10 100.00% [RFA~AP OF PORTFOLIO PERCENTAGES CASH CHECKING / SAVINGS ACCTS MUTUAL FUNDS (U.S. GOVERNMENT) CERTIFICATES OF DEPOSIT U.S. TREASURY OBLIGATIONS FEDERAL AGENCY OBLIGATIONS CORPORATE STOCK ] MANAGED OTHER COMBINED FUNDS FUNDS TOTAL 0.000.4 O. 10% O. 10% 0.00% 17.26% 17.26% 2.26% 0.00% 2.26% 0;80% 41.44% 42.24% 2.95% 4.65% 7.60°.4 30.53% 0.0~% 30.53% 0.00%o 0.02% 0.02% Total 36.54% 63.46% 100.00% Page 2 COST BASIS ANAL YSIS Cost Basis Prior Month Additions: Interest Earnings Realized Gains (Losses) Subtractions: Management Fees Custodian Fees Bank Charges Total Additions Total Subtractions Cost Basis Current Month Net Cash Receipts & (Disbursements) Ending Cost Basis Balance CITY OF DUBUQUE MONTHLY INVESTMENT SUMMARY Month Ending: Jun-30-01 Managed Combined Dana DB&T Firstar Accounts City Finance Total 7,561,798.34 7,565,010.17 7,795,965.98 22,922,774.49 43,249,515.11 66,172,289.60 46,904.81 22,729.27 'l 3, §40.98 83,175.06 248,491.07 331,666.13 (3,881.67) (1,310.48) (21.07) (5,213.22) 0.00 (5,213.22) 43,023.14 21,418.79 13,519.91 77,961.84 248,491.07 326,452.91 0.00 0.00 0.00 0.00 0.00 0.00 638.18 650.89 649.31 1,938.38 0.00 1,938.38 0.00 0.00 0.00 0.00 3,879.69 3,879.69 638.18 650.89 649.31 1,938.38 3,879.69 5,818.07 7,604,183.30 7,585,778.07 7,808,836.58 22,998,797.95 43,494,126.49 66,492,924.44 0.00 0.00 0.00 0.00 (3,550,014.34) (3,550,014.34) 7,604,183.30 7,585,778.07 7,808,836.58 22,998,797.95 39,944,112.15 62,9427910.10 RETURN ON ASSETS Cost Basis Current Month Plus: Accrued Imerest Current Month Less: Accrued Interest Prior Month Cost Basis Adjusted for Accruals Annualized Return: Current Month .~nnualized Return: Prior Month 7,604,183.30 7,585,778.07 7,808,836.58 22,998,797.95 43,494,126.49 66,492,924.44 61,814.14 113,317.42 286,090.41 461,221.97 413,353.18 874,575.15 (65,101.28) (98,232,28) (169,760.55) (333,094.11 ) (432,789.40) (765,883.51 ) %600,896.16 7,600,863.21 7,925,166.44 23,126,925.81 43,474,690.27 66,601,616.08 6.20% $.69% 19.89% 10.69% 6.2.$% Z 79% 6.15% 6.00% 19.37% 10.60% 5.37% 7.16% 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 Managed Accounts Month Ending: Jun-30-01 Combined City Finance Total 7,581~486.40 7,919,673.56 8,053~109.89 23~554,269.85 7,475,676.54 7,816,946.36 7,885,497.91 23,178,120.81 61,814.14 113,3 ! 7.42 286,090.41 461,221.97 43,766,449.81 67,320,719.66 40,091,495.45 63,269,616.26 413,353.18 874,575.15 7,537,490.68 7,930,263.78 8,171,588.32 23,639,342.78 0.00 0.00 0.00 0.00 40,504,848.63 64,144,191.41 (3,550,014.34) (3,550,014.34) 7,537,490.68 7,930,263.78 8,171,588.32 (0.58%) 0.13% 1.47% 0.56% 0.43% 1.58% 23,639,342.78 44,054,862.97 67,694,205.75 0.36°/6 0.66% 0.55% 0.86% 0.44% 0.59% 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* 1.12% -0.24% 1.20% 0.42% 0.80% 5.89~ 10.33°A 9.26~ 10.42~ 3.75°A *Rate as of 2.64% 2.27% 4.04% 3.43% 1.71% 6.75% 0~3~01 Page 2 CUSIP No. 912795HA2 912795HE4 Metro 912795HG9 Totals City of Dubuque Schedule of U.S. Treasury Securities As of June 30, 2001 Par Issue Maturity Cost Value Date Date Price Basis 1,000,000.00 01/04/2001 07/05/2001 97.290 972,900.00 1,000,000.00 02/01/2001 08/02/2001 97.553 975,530.00 1,000,000.00 02/08/2001 08/09/2001 97.596 975,960.00 $3,000,000.00 $2,924,390.00 Yield 5.586% 5.031% 4.940% DaD to Maturity 4 32 39 Accrued Days 178 150 143 Accrued I lnter~t 26,206.59 19,898.68 18,624.40 :$64,729.67 Weighted Yield: 5.186% Weighted Maturity: 25.00 Days City of Dubuque Schedule of Certificates of Deposit As of June 30, 2001 Certificate Purchased Cost Purchase Maturity Last Interest Compounded Days to Accrued Accrued [ Number From Basis Date Date Payment Yield Maturity Da~s Interest I 4311 EDSB 516,831.77 09/11/00 09/11/01 03/11/01 7.036% 73 111 10,687.80 4530 EDSB 1,033,319.80 10/16/00 I 0/16/01 04/16/01 6.918% 108 75 14,204.61 501153 DB&T 1,032,606.93 11/16/00 11/16/01 05/16/01 6.690% 139 45 8,376.85 5364 EDSB 1,500,000.00 12/21/00 12/21/01 06/21/01 6.609% 174 9 2,367.12 50385 Liberty 2,000,000.00 01/03/01 07/05/01 01/03/01 6.460% 5 178 63,007.12 501162 DB&T 1,000,000.00 01/05/01 01/04/02 01/05/01 6.280% 188 176 29,799.45 50411 Liberty 1,000,000.00 01 / 12/01 07/13/01 01/12/01 6.070% 13 169 28,104.93 50425 Liberty 2,000,000.00 01/29/01 07/30/01 01/29/01 5.970% 30 152 49,722.74 50454 Liberty 1,000,000.00 02/16/01 08/17/01 02/16/01 5.670% 48 134 20,815.89 50456 Liberty 1,000,000.00 02/20/01 02/20/02 02/20/01 5.570% 235 130 19,838.36 50507 Liberty(M) 1,000,000.00 03/14/01 09/12/01 03/14/01 5.270% 74 108 15,593.42 50518 Liberty(M) 1,000,000.00 03/21/01 09/19/01 03/21/01 5.070% 81 101 14,029.32 32273 Duple 500,000.00 03/29/01 09/29/01 03/29/01 5.200% 91 93 6,624.66 113212 AT&S(M) 1,000,000.00 04/09/01 10/08/01 04/09/01 4.520% 100 82 10,154.52 32469 Dupaco 500,000.00 04/16/01 10/16/01 04/16/01 5.000% 108 75 5,136.99 104644 AT&S 1,000,000.00 04/17/01 10/16/01 04/17/01 4.560% 108 74 9,244.93 501183 DB&T 1,000,000.00 04/19/01 10/18/01 04/19/01 4.330% 110 72 8,442.74 32497 Dupaco 1,000,000.00 04/19/01 10/18/01 04/19/01 4.280% 110 72 8,442.74 50640 Libe~oy(M) 1,000,000.00 04/27/01 10/26/01 04/27/01 4.370% 118 64 7,662.47 500066 Premier(M) 1,000,000.00 05/22/01 11/20/01 05/22/01 4.655% 143 39 4,979.18 500067 Premier 1,000,000.00 05/22/01 11/20/01 05/22/01 4.655% 143 39 4,979.18 32702 Dupaco 1,000,000.00 05/29/01 11/27/01 05/29/01 4.130% 150 32 3,620.82 6337 EDSB 1,000,000.00 06/15/01 12/17/01 06/15/01 4.200% ! 70 15 1,726.03 32801 Dupaco(M) 1,000,000.00 06/21/01 12/20/01 06/21/01 3.860% 173 9 951.78 113324 AT&S 1,000,000.00 06/29/01 06/29/02 06/29/01 4.010% 364 1 109.86 Totals $26,082,758.50 $348,623.51 Weighted Yield: 5.332% Weighted Maturity: 116.99 Days Page 1 Certificate Number Purchased From City of Dubuque Schedule of Certificates of Deposit As of June 30, 2001 Interest Compounded Rate Yield Interest Terms 4311 4530 501153 5364 50385 501162 50411 50425 50454 50456 50507 50518 32273 113212 32469 104644 501183 32497 50640 500066 500067 32702 6337 32801 113324 Metro Metro Metro EDSB EDSB DB&T EDSB Lilnrty DB&T Liberty Liberty Liberty Lilnrty Liberty Liberty Dupaan A.T.&S. Dupaco A:T.&S. DB&T Dupaco Lil~rty Premier P~mier Dupaco EDSB Dupaco A.T.&S. 6.80% 7.036% 6.69% 6.918% 6.58% 6.690% 6,40% 6.609% 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% 4.52% 4.520% 5.00% 5.000% 4.56% 4.560% 4.28% 4.330% 4.28% 4.280% 4.37% 4.370% 4.66% 4.655% 4.66% 4.655% 4.13% 4.130% 4.20% 4.20% 3.86% 3.86% 4.01% 4.01% Earnings credited semi-annually and added to principal. Earnings credited semi-annually and added to principal. Earnings credited semi-annually and added to principal. Earnings credited semi-annually and added to principal. Earnings credited at maturity. Earnings credited semi-annually and added to principal. Earnings credited at maturity. Earnings credited at maturity. Earnings credited at maturity. Earnings paid by check semi*annually Earnings credited at maturity. Earnings credited at maturity. Earnings credited at maturity. Earnings credited at maturity. Earnings credited at maturity. Earnings credited at maturity. Earnings credited at maturity. Earnings credited at maturity, Earnings credited at maturity. Earnings credited at maturity. Earnings credited at maturity. Earnings credited at maturity. Earnings credited at maturity. Earnings credited at maturity. Page 2