Quarterly Investment Report 3 31 12Masterpiece on the Mississippi
TO: The Honorable Mayor and City Council Members
FROM: Michael C. Van Milligen, City Manager
SUBJECT: March 31, 2012 Quarterly Investment Report
DATE: April 20, 2012
Dubuque
bierd
All-America City
1
2007
Finance Director Ken TeKippe is transmitting the March 31, 2012 Quarterly Investment
Report.
Michael C. Van Milligen
MCVM:jh
Attachment
cc: Barry Lindahl, City Attorney
Cindy Steinhauser, Assistant City Manager
Kenneth J. TeKippe, Finance Director
Masterpiece on the Mississippi
TO Michael C Van Milligen, City Manager
FROM Kenneth J TeKippe, Finance Director
DATE April 20, 2012
SUBJECT March 31,2012 Quarterly Investment Report
Dubuque
had
NI- America City
'I 1 1 I'
2007
INTROD UCTION
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, 2012 through March 31, 2012
The report includes Cash Investments and Investment Earnings Summary
for quarter ended March 31 , 2012 and fiscal year to date
Schedule of City Funds
Monthly Investment Summary
Schedule of Certificates of Deposit and Accrued Interest
The valuations reflect the same basis that the assets are carried on the financial records of the Cay The City of Dubuque is
in compliance with the Investment Policy
ACTION TO BE TAKEN
This report is for your review and filing with the Honorable Mayor and City Council
Prepared by
KT /eml
Enclosures
CITY OF DUBUQUE
Cash, Investments and Investment Earnings Summary
For The Quarter Ended March 31, 2012 And Fiscal Year To Date
Description
Carrying
Value
Market Value /
Including
Accrued Interest
Unrealized
Gain (Loss) /
Accrued Interest
Deposits, Change & Petty Cash Funds
Checking /Savings Accounts
Certificates Of Deposit
US Treasury Securities
Corporate Stock
Investment Advisor Accounts
Total Funds
Breakdown
City
Metro
Total Combined Funds
Cash Basis
Gross Earnings:
City
Metro
Combined
Investment Fees:
City
Metro
Combined
Net Earnings:
City
Metro
Combined
11,571
35,542,263
10,000,000
2,015,125
11,514
27,071,571
11,571
35,544,790
10,004,360
2,579,454
77,332
27,537,535
2,527
4,360
564,329
65,818
465,964
74,652,044
75,755,042
1,102,998
64,476,299
10,175,745
74,652,044
65,574,936
10,180,106
75,755,042
1,098,638
4,360
1,102,998
Quarter
Year -To -Date
207,614
650,894
8,565
30,585
216,178
681,480
33,068
96,861
158
527
33,226
97,388
174,546
554,033
8,407
30,058
182,953
584,092
City Managed Funds
CASH:
Change and Petty Cash Funds
Health Fund Deposit
Prescription & Workers Comp Deposits
of Dubuque
Schedule ot?ibi Funds
Vdarch 2012
Total
TOTAL
COST CIYYFUNDS
BASIS PERCENTAGE
11,571
150,000
85,000
246,571
CHECKING 1 SAVINGS ACCOUNTS:
American Trust & Savings Bank ii,erienli 40,498
American Trust & Savings Bank iHou u POM1ro e section e, 236,478
Dubuque Bank & Trust , benei,I'11e0o,Leewe, 1,559,177
Dubuque Bank & Trust n. onunlOW aide POM1ro e Etm, De., 125,325
Dubuque Bank & Trust n_ role Fr,ntl„ :e E,rv,rtrent Fww, 235,287
US Bank Ken. RI,Arribukricei 8,182
Premier, emm„ 4,129
Liberty 5,100
East Dubuque Savings Bank mu, 5,936
State Central amu, 517
BBVA Compass (62)
Total 2,220,567
BOND PROCEEDS:
DB &T Series 2009A
DB &T Series 2009B
AT &S Series 2010A
AT &S Series 2010B
AT &S Series 2010C
Liberty Bank Series 2010D
US Bank Series 2010F Capital Loan Notes
DB &T Series 2011A
DB &T Series 2011 B
DB &T Series 2012A
DB &T Series 2012B
CERTIFICATES OF DEPOSIT:
Dubuque Bank & Trust
EDSB
HIGH YIELD SAVINGS ACCOUNTS:
Dubuque Bank & Trust, wero,oro
East Dubuque Savings Bank,Ad.,rn„ue s,.,n u_,
U.S TREASURY OBLIGATIONS:
Debt Service Reserve Required for Port Ramp
CORPORATE STOCK, Lon: Pen, Trull
TOTAL OTHER FUNDS
350,704
1,255,826
863,445
2,652,800
817,562
841,098
1,065,313
3,069,016
891,596
4,360,913
5,528,196
Total 21,696,468
9,000,000
1,000,000
Total 10,000,000
Total
Total
10,644,282
745,946
11,390,228
2,015,125
2,015,125
0 3%
3 0%
29 1%
13 4%
153%
2 7%
11,514
11,514 00%
47,580,474 63.7%
FYI2
FINANCIAL ADVISORS MANAGED FUNDS
DANA INVESTMENT ADVISORS, INC:
Cash and Equivalents
US Treasury Obligations
US Agencies
Mortgaged Backed Securities
DUBUQUE BANK & TRUST:
Cash and Equivalents
US Treasury Obligations
Mutual Funds
Mortgaged Backed Securities
FIRST COMMUNITY TRUST:
Cash and Equivalents
US Treasury Obligations
US Agencies
Mortgaged Backed Securities
US BANK:
Cash and Equivalents
US Treasury Obligations
US Agencies
Mortgaged Backed Securities
City of GUbuque
Schedule 01 ?Itv Funds
March 2012
Total
Total
Total
Total
GRAND TOTAL
BREAKDOWN BY TYPE OF SECURITY:
Cash
Mortgage Backed Securities
US Treasury Obligations
US Agency Obligations
Mutual Funds
TOTAL FINANCIAL ADVISOR MANAGED FUNDS
TOTAL CITY FUNDS
PORTFOLIO TOTAL
COMPOSITION COST CITYFUNDS
PERCENTAGE BASIS PERCENTAGE
65% 408,101
303% 1,916,532
0 0%
632% 3 991 216
1000% 6315,849
3 7% 298,240
74 3% 6,027,702
220% 1,788,085
0 0%
1000% 8114,027
11 5% 591,756
0 0%
881% 4515,210
03% 17,676
1000% 5,124,642
41% 308,315
0 0%
95 8% 7,201,439
01% 7,298
1000% 7517,053
27,071,571
5 9% 1,606,413
148% 4,016,190
294% 7,944234
433% 11,716,648
66% 1,788,085
1000% 27,071,571
8 5%
109%
6 9%
10 1%
36 3%
2 2%
5 4%
106%
157%
2 4%
36 3%
74,652,044
100.0%
RECAP OF PORTFOLIO PERCENTAGES Managed City Combined
CASH
L HE{ I III S SA IIIGS AC CTS
r lc!PTbw }E BAOI ED SE{ !PITIES
{ EPTIFI{ ATES OF DEPOSIT
LIS TPEASIJP OiBLIbuTI!:!l
FED EP AL AK EIG OiBLIbuTIO'HS
FluIuluL FUNDS
Total 3646 6446
FYI2
COST BASIS ANALYSIS
Cost Basis Prior Month
Additions:
Interest Earnings
Realized Gains (Losses)
Capital Deposits
Subtractions:
Management Fees
Custodian Fees
Bank Charges
Capital Withdrawals
Cost Basis Current Month
Net Cash Receipts 8 (Disbursements)
Ending Cost Basis Balance
Dana
CITY OF DUBUQUE
MONTHLY INVESTMENT SUMMARY
DB&T
First
Community
Trust
Managed
US Bank Accounts
Month Ending:
City Finance
6,312,77856 8,111,882 19 5,128,921 34 7,504,88938 27,058,471 47 35,762,34738
8,087 25 2,277 70
(91218) (62985)
(2,211 05) 14,88292
(75 02)
(5 09)
23,036 82
(1,622 14)
0 00
13,757 76
03/31/12
Combined
Total
62,820,818 85
36,794 58
(1,622 14)
0 00
Total Additions 7,175 07 1,647 85
(3,551 72) (2,277 70)
(55281) (62985)
(2,286 07)
(1,494 90)
(498 47)
14,877 83 21,414 68
(2,11233) (9,43665)
(60220) (2,28333)
0 00
13,757 76
(580 88)
35,172 44
(9,436 65)
(2,283 33)
(580 88)
0 00
Total Subtractions (4,104 53) (2,907 55)
MARKET VALUE ANALYSIS
Investment Market Value Prior Month i- dio_red mr- arosci
Investment Market Value Current Month
Accrued Interest Current Month
Market Value Adjusted for Accruals
Portfolio Returns ** icomputed b, In e _tment ra 3n3gemi
Monthly Return
Total Return Calendar Year to Date 2012
Effective Duration in Years
Market Indices
(1,993 37) (2,714 53) (11,719 98)
(580 88)
6,315,84910 8,110,62249 5,124,641 90 7,517,05268 27,068,16617 35,775,52426
11,808,353 77
6,315,84910 8,110,62249 5,124,641 90 7,517,05268 27,068,16617 47,580,47353
6,461,86879 8,283,25255 5,161,613 18 7,647,17656 27,553,911 08 36,499,62977
6,442,75619 8,248,54808 5,138,541 11 7,617,36558 27,447,21096 48,198,97638
23,676 38 14,985 71 24,871 83 26,790 02 90,323 94 18,531 30
6,466,43257 8,263,53379 5,163,41294 7,644,15560 27,537,53490 48,217,50768
(12,300 86)
62,843,690 43
11,808,353 77
74,652,044 20
64,053,540 85
75,646,187 34
108,855 24
75,755,042 58
0.23%
0.78%
0.65
(0.20 %)
(0.07 %)
2.64
0.07%
0.30%
0.78
0.00%
0.30%
1.76
Average Last Last Calendar Last
Month 12 Months Year to Date 3 Years
90 Day T -Bills
Lehman Aggregate Govt Bonds
Lehman Short Term Govt Bonds
Lehman Intermediate Govt Bonds
Current Prime Rate
0.01
(0.91 %)
(0.05 %)
(0.46 %)
3.25%
0.07%
7.89%
1.50%
5.64%
0.04
(1.12 %)
(0.38 %)
0.91
0.40%
3.96%
1.70%
3.48%
** Returns poor to fees
City of Dubuque
Schedule of Certificates of Deposit, Accrued Interest & High Yield Savings Accounts
As of
March 31, 2012
Certificates of Deposit:
Certificate
Number
Institution
C/M
Cost
Basis
Purchase
Date
Maturity
Date
Interest
Rate
Days to
Maturity
Accrued
Days
Accrued
Interest
2587 DB &T M 1,000,000 01/19/12 07/19/12 0 200% 110 72 39452
2610 DB &T M 1,000,000 02/02/12 08/02/12 0 200% 124 58 317 81
26712 EDSB M 1,000,000 02/17/12 08/17/12 0 230% 139 43 270 96
2666 DB &T M 1,000,000 03/09/12 09/07/12 0 210% 160 22 126 58
2693 DB &T M 1,000,000 03/29/12 09/27/12 0 250% 180 2 13 70
2514 DB &T M 500,000 11/23/11 04/23/12 0 150% 23 129 26507
2489 DB &T M 1,000,000 11/10/11 05/11/12 0 230% 41 142 89479
2515 DB &T M 1,000,000 11/23/11 05/23/12 0 200% 53 129 706 85
2518 DB &T M 1,000,000 12/08/11 06/07/12 0 200% 68 114 624 66
2612 DB &T M 500,000 02/02/12 08/02/12 0 200% 124 58 158 90
2546 DB &T M 1,000,000 12/15/11 06/15/12 0 200% 76 107 586 30
Totals
10, 000, 000
4,360 14
Weighted Yield: 0.210%
Weighted Maturity in Days: 102.5
Account CD Balance Accrued Interest
DMASWA 10,000,000 4,36014
City 0 0 00
10,000,000 4,36014
Hi Yield Savmas Accounts
Account
Ending
APR @
Accrued
Number
Institution
can
Balance
Month End
Interest
671460
DB &T
44444116 EDSB
C 10,644,282
C 745,946
0 300%
0 460%
2,331 74
195 13
11, 390, 228
2,526 87
(M) = DUBUQUE METROPOLITAN AREA SOLID WASTE AGENCY
(C) = CITY FUNDS