Finance - Qtrly Investment RepoMEMORANDUM
October 30, 2001
TO:
FROM:
SUBJECT:
The Honorable Mayor and City Council Members
Michael C. Van Milligen, City Manager
September 30, 2001 Quarterly Investment Report
Finance Director Ken TeKippe is transmitting the attached September 30, 2001
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
September 30, 2001 Quarterly Investment Report
October 22, 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 July 1, 2001 through September 30, 2001.
The report includes: Cash Investments and Investment Earnings Summary
for quarter ended September 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 September 30, 2001 & Fiscal 2001-02 YTD
Carrying
Market Value / Unrealized
Including Gain (Loss) /
Accrued Interest Accrued Interest
Description Value
Deposits, Change & Petty Cash Funds
Checking/Savings Accounts
Certificates Of Deposit
US Treasury Securities
Corporate Stock
Investment Advisor Accounts
Total Funds
62,075 62,075 0
8,346,905 8,346,905 0
24,593,548 24,928,702 335,154
983,370 986,111 2,741
10,391 93,956 83,565
23,308,553 24,241,683 933,129
57,304,842 58,659,432 1,354,590
Breakdown
Metro
Total Combined Funds
49,551,185 50,829,583 1,278,398
7,753,657 7,829,849 76,192
57,304~842 58,659,432 1,354,590
Cash Basis
Groas Earnings:
city
McCa
Combined
Me~ro
Combined
Net Earnln~a:
city
Mea'o
Combined
749,174
77,583
826,758
37,~31 37,223
1101 110
3%533! 37,333
711,9511 711,951
77,4731 77,473
789,4241 789,424
CITY OF DUBUQUE
SCHEDULE OF Crl'¥ FUNDS
FOR MON'rH ENDING SEPTEMBER 30, 2001
MANAGED FUNDS
PORTFOLIO
COMPOSITION COST
PERCENTAGE BASIS
TOTAL
CITY FUNDS
PERCENTAGE
DANA INVESTMENT ADVISORS, INC.:
Cash
Mutual Funds COS Government)
Cel~ificatcs Of Deposit
US Treasury Obligations
Federal Agency Obligations
0.00% 0.00
6.94% 534,434.33
0.00% 0.00
0.1t0% 0.00
93,06% 7,164,915.51
100.00% 7,699,349.84
13.44%
DUBUQUE BANK & TRUST COMPANY:
Cash
Mutual Funds (US Goveamnent)
Catificates Of Deposit
US Treasury Obligations
Federal Agency Obligations
0.00% 0.00
5.320/o 409,244.24
0.00% 0.00
0.00% 0.00
94.68% 7,284,187.76
Total 100.00% 7,693,432.00 13.43%
FIRSTAR:
Cash
Mutual Fonds (US Government)
Certitlcates Of Deposit
US Treasury Obligations
Fodend Agency Obligations
0.00% 0.00
10.13% 801,510.83
6.45% 510,875.48
23.49o/o 1,859,409.88
59.93% 4,743,975.30
Total 100.00%
GRAND ~
7,915,771.49 13.81%
23,308,553.33 40.67%
BREAKDOWN BY TYPE OF SECURITY:
Cash
Mutual Fonds (US Govea'nment)
Certificates Of Deposit
US Treasury Obligations
Federal Agency Obligations
TOTAL MANA GE~ FO2V/~
0.00% 0.00
7.49% 1,745,189.40
2.19% 510,875.48
7.98% 1,859,409.88
82.34% 19,193,078.57
100.00% 23,308,553.33
0.00%
3.05%
0.89%
3.24%
33.49%
40.67%
Page 1
CITY OF DUBUQUE
MONTHLY INVESTMENT SUMMARY
Month Ending: Sep-30-01
Managed Combined
Dana DB&T Firstar Accounts City Finance Total
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
7.695~283,07 8,1~ 1~066.34 , 8,131~782.39 23,938,131.80 36,120~506.74 60,058,638.54
7,683,265.62 8,167,764,55 8,112,339.78 23,963,369,95 35,187,255.09 59,150,625.04
61,956.61 107,546,66 108,809.42 278,312,69 337,895.39 616,208.08
7,745,222.23 8,275,311.21 8,221,149~20 24,241,682.64 35~525,150.48 59,766,833.12
0.00 0.00 0.00 0,00 (l,107,401.28) (1,107,401.28)
7,745,222.23 ' 8,275,311.21 8 221~149,20 2A 241 682.64 34 417 749.20 58 659 431.84
0.65% 2,02% 1.10% 1.27% (4. 71%) (2.33%)
0.25% 0.82% 0.66% 0.58% (1.67%) (0, 78%)
Marketl~tdlce$
90 Day T-Bills
Lehman Aggregate Govt. Bonds
Lehman Short Term Govt. Bonds
Lehman Intermediate Govt. Bonds
Consumer Price Index
Current Prime Rate*
Average Last Average Last Calendar
3 Months 12 Months Year to Date
5.04%
12.95%
10.67%
12.87%
2.63%
0.91%
4.61%
3.52%
4.97%
-0.10%
*Rate as of
3.42%
8.39%
7.70%
8.57%
1.71%
6.00%
09~30-01
2
CUSIP No.
912795I~3
Totals
Par
Value
1,000,000.00
$1,000,000.00
Date
City of Dubuque
Schedule of U.S. Treasury Securities
As of September 30, 2001
Maturity Cost
Date Price Basis Yield
02/28/2002 98.337 983,370.00 3.392%
$983,370.00
0~3~2001
Da~ ~
Maturi~
Accrued
Days
32
Accrued
Interest
2,741.21
$2,741.21
Weighted Yield: 3.392%
Weighted Maturity:
150.00 Days
City of Dubuque
Schedule of Certificates of Deposit
As of September 30, 2001
Eertificate Purchased Cost Purchase Maturity Last Interest Compounded Days to Accrued
Number Fram Basis Date Date Payment Yield Maturity Days
4530
501153
5364
501162
50456
113212
32469
104644
501183
32497
50640
500066
500067
32702
6337
32801
113324
6421
50791
33165
501193
501194
50859
50865
Totals
EDSB
DB&T
EDSB
DB&T
Liberty
AT&S(M)
Dupaco
AT&S
DB&T
Dupaco
Liberty(M)
Premier(M)
Premier
Dupa~
EDSB
Dupaco(M)
AT&S
EDSB
Li~ny
Dupaco(M)
DB&T
DB&T
Liberty(M)
Liber~(M)
1,033,319.80 10/16/00 10/16/01 04/16/01 6.918%
1,032,606.93 11/16/00 11/16/01 05/16/01 6.690%
1,500,000.00 12/21/00 12/21/01 06/21/01 6.609%
1,000,000.00 01/05/01 01/04/02 07/05/01 6.280%
1,027,621.10 02/20/01 02/20/02 08/20/01 5.570%
1,000,000.00 04/09/01 10/08/01 04/09/01 4.520%
500,000.00 04/16/01 10/16/01 04/16/01 5.000%
1,000,000.00 04/17/01 10/16/01 04/17/01 4.560%
1,000,000.00 04/19/01 10/18/01 04/19/01 4.330%
1,000,000.00 04/19/01 10/18/01 04/19/01 4.280%
1,000,000.00 04/27/01 10/26/01 04/27/01 4.370%
1,000,000.00 05/22/01 11/20/01 05/22/01 4.655%
1,000,000.00 05/22/01 11/20/01 05/22/01 4.655%
1,000,000.00 05/29/01 11/27/01 05/29/01 4.130%
1,000,000.00 06/15/01 12/17/01 06/15/01 4.200%
1,000,000.00 06/21/01 12/20/01 06/21/01 3.860%
1,000,000.00 06/29/01 06/29/02 06/29/01 4.010%
1,000,000.00 07/06/01 01/04/02 07/06/01 3.900%
1,000,000.00 07/13/01 01/11/02 07/13/01 3.770%
1,000,000.00 08/02/01 01/31/02 08/02/01 3.560%
1,500,000.00 08/07/01 02/05/02 08/07/01 3.560%
1,000,000.00 08/09/01 02/07/02 08/09/01 3.540%
1,000,000.00 09/12/01 03/13/02 09/12/01 3.570%
1,000,000.00 09/19/01 09/19/02 09/19/01 3.470%
$24,593~547.83
Weighted Yield: 4.603%
Weighted Maturity:
16
47
82
96
143
8
16
16
18
18
26
51
51
58
78
81
272
96
103
123
128
130
164
354
92.63
167
137
101
87
41
174
167
166
164
164
156
131
131
124
107
101
93
86
79
59
54
52
18
11
Days
Accrued I
Interest
31,628.93
25,502.85
26,564.38
14,730.41
6,429.53
21,547.40
11,438.36
20,738.63
19,230.68
19,230.68
18,677.26
16,724.93
16,724.93
14,030.68
12,312.33
10,681.10
10,217.26
9,189.04
8,159.73
5,754.52
7,833.70
5,000.55
1,760.55
1,045.75
$335,154.18
rtificate Descriptions
Certificate Purchased
City of Dubuque
Schedule of Certificates of Deposit
As of September 30, 2001
Interest Compounded
4530 EDSB
501153 DB&T
5364 EDSB
501162 DB&T
50456 Liberty
113212 A.T.&S.
32469 Dupaco
104644 Metro A.T.&S.
501183 DB&T
32497 Dupaco
50640 Metro Liberty
500066 Metro Premier
500067 Premier
32702 Dupaco
6337 EDSB
32801 Metro Dupaeo
113324 A.T.&S.
6421 EDSB
50791 Liberty
33165 Metro Dupaco
501193 DB&T
501194 DB&T
50859 Metro Liberty
50865 Metro Liberty
Yield Interest Terms
6.69%
6.58%
6.40%
6.18%
5.57%
4.52%
5.00%
4.56%
4.28%
4.28%
4.37%
4.66%
4.66%
4.13%
4.20%
3.860/o
4.01%
3.90%
3.77%
3.56%
3.53%
3.51%
3.57%
3.47%
6.918%
6.690%
6.609%
6.280%
5.570OA
4.520%
5.000%
4.560%
4.330%
4.280%
4.370o/0
4.655%
4.655%
4.130%
4.200%
3.860%
4.010°/o
3.900%
3.770%
3.560%
3.560%
3.540%
3.570%
3.470O/o
Eurnin s credited semi-annually and added to principal.
Earain s credited semi-annually and added to principal.
Eurnic s 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 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.
Eamings credited at maturity.
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 at maturity.
Earnings credited at maturity.
Earnings credited at maturity.
Earnings credited at maturity.
Earnin ~ credited semi-annually and added to principal.
crrY OF DUBUQUE
SCfl~DULE OF Crr¥ FUNDS
FOR MONTti ENDING SEPTEMBER
CASH
Chm~ge Funds ~a~d Petty Cash
NPA & Workers Comp Deposit
COST
BASIS
9,075.00
53,000.00
62,075.00
TOTAL
CITY FUNDS
PERCENTAGE
0.11%
cHECKING / SAVINGS ACCOUNTS:
American Trust & Savings Bank (C,e~eral Swee~ A~)
American Trust & Savings Ba~k (B~t eroeee0s)
American Trust & Savings Bank (Housing P. ehab)
Dabuque Bank & Trust Co. (~aem~eao/Le~e Se~ees)
Firstar Bank (Oeneran4~am~dAmbuba~5 ~zgs)
Liberty ~)
Premier 0a~lity)
Total
1,723,349.87
3,161,159.67
147,907.98
3,043,752.62
246,334.22
t9,221.23
5,179.39
8,346,904.98 14.57%
CERTIFICATES OF DEPOSIT:
American Trust & Savings Bank
Dupaeo Community Credit Union
Dubuque Bank & Trust Co.
East Dubuque Savings Bank
Liberty Bank
Premier Bank
3,000,000.00
4,500,000.00
5,532,606.93
4,533,319.80
5,027,621.10
2,000,0O0.0O
24,593,547.83
42.92%
U.S. TREASURY OBLIGATIONS
983,370.00
1.72%
CORPORATE STOCK ¢,yon~ eeo~y Trast)
10,390.70
0.02%
TOTAL O'I'H g~R. FUNDS
~,996,~ma.st
59.33%
57,3o4,841.84
lO0.0O%
[RECAP 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
FUNDS
0.00%
0.00%
3.05%
0.89%
3.24%
33.49%
0.00%
OTHER
FUNDS
0.1t%
14.57%
0.0O%
42.92%
1.72%
0.00%
0.02%
COMBINED
TOTAL
0.11%
14.57%
3.05%
43.81%
4.96%
33.49%
0.02%
40.67%
59.33%
100.00%
Page 2