Quarterly Investment Report Copyright 2014
City of Dubuque Consent Items # 6.
ITEM TITLE: Quarterly Investment Report
SUMMARY: City Manager transmitting the March 31 , 2015 Quarterly Investment
Report.
SUGGESTED DISPOSITION: Suggested Disposition: Receive and File
ATTACHMENTS:
Description Type
❑ March 31,2015 Quarterly Investment Report-MVM Memo City Manager Memo
❑ Cash Investments and Investment Earnings Summary Supporting Documentation
❑ March 31,2015 Quarterly Investment Report Staff Memo
❑ Schedule of City Funds Supporting Documentation
❑ Monthly Investment Summary Supporting Documentation
❑ Schedule of Certificates of Deposit and Accrued Interest Supporting Documentation
THE CITY OF Dubuque
UBE I
erica .i
Masterpiece on the Mississippi 2007-2012-2013
TO: The Honorable Mayor and City Council Members
FROM: Michael C. Van Milligen, City Manager
SUBJECT: March 31, 2015 Quarterly Investment Report
DATE: April 28, 2015
Finance Director Ken TeKippe is transmitting the March 31, 2015 Quarterly Investment
Report.
Mic ael C. Van Milligen
MCVM:jh
Attachment
cc: Barry Lindahl, City Attorney
Cindy Steinhauser, Assistant City Manager
Teri Goodmann, Assistant City Manager
Ken TeKippe, Finance Director
CITY OF DUBUQUE
Cash, Investments and Investment Earnings Summary
For The Quarter Ended March 31, 2015 And Fiscal Year To Date
Market Value / Unrealized
Carrying Including Gain (Loss) /
Description Value Accrued Interest Accrued Interest
Change & Petty Cash Funds 12,036 12,036
Checking/Savings Accounts 14,952,583 14,952,583 -
High Yield Savings Accounts 1 ,532,634 1 ,533,954 1 ,320
Unspent Bond Proceeds 45,499,961 45,499,961 -
Certificates Of Deposit 6,200,000 6,206,711 6,711
US Treasury Securities 2,015,125 2,868,130 853,005
Corporate Stock (EB Lyons Trust) 11 ,514 90,034 78,520
Investment Advisor Accounts 26,403,970 26,552,453 148,483
Total Funds 96,627,823 97,715,861 1,088,038
Breakdown
City 85,613,876 86,695,203 1 ,081 ,327
Metro 11 ,013,947 11 ,020,658 6,711
Total Combined Funds 96,627,823 97,715,861 1,088,038
Cash Basis Quarter Year-To-Date
Gross Earnings:
City 184,245 443,172
Metro 4,997 17,646
Combined 189,242 460,818
Investment Fees:
City 23,274 72,902
Metro 142 430
Combined 23,416 73,332
Net Earnings:
City 160,972 370,270
Metro 4,854 17,217
Combined 165,826 387,487
CVUsersVellaheyVDocumentsGroupWiseACouncil Summary G2015 As 4/2&2015
THE MY OF Dubuque
DUB E M�II�l
Masterpiece on the Mississippi
TO: Michael C. Van Milligen, City Manager
FROM: Kenneth J. TeKippe, Finance Director
RE: March 31, 2015 Quarterly Investment Report
DATE: April 28, 2015
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 January 1, 2015 through March 31, 2015.
The report includes: Cash Investments and Investment Earnings Summary
for quarter ended March 31, 2015 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 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/eml
Enclosures
City of Dubuque FY 15
Schedule of City Funds
March 2015
TOTAL
COST CITYFUNDS
City Managed Funds BASIS PERCENTAGE
CASH:
Change and Petty Cash Funds 12,836
Health Fund Deposit 150,000
Prescription Fund Deposit 75,000
Workers Comp Deposit 10,000
Pitney Bowes Postage Deposit 20,000
Total 267,836 0.4%
CHECKING I SAVINGS ACCOUNTS:
American Trust&Savings Bank(Generap 252,710
American Trust&Savings Bank(Housing Rehab&Section 8) 110,928
Dubuque Bank&Trust(General/Metro/Leisure) 13,650,300
Dubuque Bank&Trust(cable Franchise Equipment Fund) 603,876
US Bank (General/Ambulance) 15,921
Premier(utility) 9,705
East Dubuque Savings Bank(utility) 15,756
Dubuque Bank&Trust Police Forfeiture Funds 37,587
BBVA Compass 0
Total 14,696,782 20.9%
UNSPENT BOND PROCEED INVESTMENT ACCOUNTS:
AT&S Series 2010A 370,338
AT&S Series 2010B 823,714
DB&T Series 2011 A 385,987
DB&T Series 2012B 2,459,303
DB&T Series 2012C 2,048,160
DB&T Series 2012D 2,271,484
DB&T Series 2012E 1,482,907
AT&S Series 2012F 518,285
DB&T Series 2012H 1,828,880
AT&S Series 2014A 4,707,392
AT&S Series 2014B 16,864,037
AT&S Series 2014C 7,169,436
AT&S DMASWA 4,570,040
Total 45,499,961 64.8%
CERTIFICATES OF DEPOSIT:
DB&T 1,800,000
ATSB 1,800,000
EDSB 2,600,000
Total 6,200,000 8.8%
HIGH YIELD SAVINGS ACCOUNTS:
Dubuque Bank&Trust(Premium Savings) 16,483
East Dubuque Savings Bank(Advantage Savings) 1,516,151
1,532,634 2.2%
U.S. TREASURY OBLIGATIONS:
Debt Service Reserve Fund Required for Port Ramp 2,015,125
Total 2,015,125 2.9%
CORPORATE STOCK (Lyons Peony Trust): 11,514
Total 11,514 0.0%
TOTAL CITY MANAGED FUNDS 70,223,853 72.7%
vasal
City of Dubuque FY 15
Schedule of City Funds
March 2015
FINANCIAL ADVISORS MANAGED FUNDS
PORTFOLIO TOTAL
COMPOSITION COST CITYFUNDS
PERCENTAGE BASIS PERCENTAGE
DANA INVESTMENT ADVISORS, INC:
Cash and Equivalents 3.1% 458,930
US Treasury Obligations 43.0% 1,946,312
US Agencies 0.0%
Mortgaged Backed Securities 53.9% 3,722,669
Total 100.0% 6,127,912 8.7%
DUBUQUE BANK&TRUST:
Cash and Equivalents 3.1% 259,305
US Treasury Obligations 96.9% 7,652,391
US Agencies 0.0%
Mortgaged Backed Securities 0.0%
Total 100.0% 7,911,695 11.3%
FIRST COMMUNITY TRUST:
Cash and Equivalents 29.9% 338,476
US Treasury Obligations 0.0%
US Agencies 60.3% 4,333,260
Mortgaged Backed Securities 9.8% 384,231
Total 100.0% 5,055,966 7.1%
US BANK:
Cash and Equivalents 11.1% 1,743,230
US Treasury Obligations 13.8% 500,000
US Agencies 75.1% 4,690,139
Mortgaged Backed Securities 0.0% 375,027
Total 100.0% 7,308,397 10.4%
GRAND TOTAL 26,403,970 37.4%
BREAKDOWN BY TYPE OF SECURITY:
Cash &Equivalents 10.4% 2,799,941 3.9%
US Treasury Obligations 43.0% 10,098,703 16.1%
US Agencies 32.3% 9,023,399 12.1%
Mortgage Backed Securities 14.4% 4,481,927 5.4%
TOTAL FINANCIAL ADVISORS MANAGED FUNDS 100.0% 26,403,970 37.4%
TOTAL CITY FUNDS 96,627,823 100.0%
RECAP OF PORTFOLIO PERCENTAGES Managed City Combined
CASH&EQUIVALENTS 3% 0% 3%
CHECKING/SAVINGS ACCTS 0% 64% 64%
MORTGAGE BACKED SECURITIES 5% 0% 5%
CERTIFICATES OF DEPOSIT 0% 6% 6%
U.S.TREASURY OBLIGATIONS 10% 2% 13%
FEDERAL AGENCIES 9% 0% 9%
Total 27% 73% 100%
P,g 2
CITY OF DUBUQUE
MONTHLY INVESTMENT SUMMARY
Month Ending: 03/31/15
First
Community Managed Combined
Dana DB&T Trust US Bank Accounts City Finance Total
COST BASIS ANALYSIS
Cost Basis Prior Month 6,115,962 7,913,960 5,048,059 7,301,730 26,379,710 63,580,882 89,960,592
Additions:
Interest Earnings 11,381 1 10,305 8,763 30,451 17,110 47,561
Realized Gains(Losses) 2,403 0 (852) 0 1,551 1,551
Total Additions 13,784 1 9,453 8,763 32,002 17,110 49,112
Subtractions:
Management Fees (1,291) (1,651) (1,052) (1,509) (5,503) (5,503)
Custodian Fees (543) (615) (494) (587) (2,239) (2,239)
Bank Charges (404) (404)
Total Subtractions (1,834) (2,266) (1,546) (2,096) (7,742) (404) (8,146)
Cost Basis Current Month 6,127,912 7,911,695 5,055,966 7,308,397 26,403,970 63,597,588 90,001,558
Net Cash Receipts&(Disbursements) 6,626,265 6,626,265
Ending Cost Basis Balance 6,127,912 7,911,695 5,055,966 7,308,397 26,403,970 70,223,853 96,627,823
MARKET VALUE ANALYSIS
Investment Market Value Prior Month(Adjusted for Accruals) 6,224,726 7,932,036 5,069,241 7,263,378 26,489,380 64,483,964 90,973,344
Investment Market Value Current Month 6,215,666 7,928,539 5,078,078 7,259,805 26,482,087 71,143,402 97,625,490
Accrued Interest Current Month 18,734 11,720 18,939 20,972 70,366 20,005 90,371
Market Value Adjusted for Accruals 6,234,400 7,940,259 5,097,016 7,280,778 26,552,453 71,163,408 97,715,860
Portfolio Returns(computed by Investment Managers)
Monthly Return Gross of Fees 0.16% 0.13% 0.58% 0.27%
Monthly Return Net of Fees 0.14% 0.10% 0.56% 0.24%
Total Return Calendar Year to Date 2015 Gross 0.49% 0.36% 1.34% 0.40%
Effective Duration in Years 0.70 0.80 2.72 1.63
Market Indices
Average Last Calendar Last Last
Month Year to Date 12 Months 3 Years
Barclays 90 Day T-Bills 0.00% 0.01% 0.04% 0.09%
Barclays Short Term 1-5 Yr Govt.bonds 0.24% 0.54% 1.04% 0.70%
Barclays Intermediate Govt bonds 0.53% 1.25% 3.15% 1.54%
Barclays Government Bonds 0.61% 1.60% 5.22% 2.32%
Current Prime Rate 3.25%
City of Dubuque
Schedule of Certificates of Deposit,Accrued Interest, High Yield Savings Accounts &Unspent Bond Proceeds
As of
March 31, 2015
Certificates of Deposit:
Certificate CIM
Cost Purchase Maturity Interest Days to Accrued Accrued
Number Institution Basis Date Date Rate Maturity Das Interest
3913 DB&T M 800,000 10/16/14 04/16/15 0.39% 16 166 1,418.96
9955 ATSB M 1,000,000 11/10/14 05/11/15 0.40% 41 141 1,545.21
1586 ATSB M 800,000 02/02/15 08/03/15 0.41% 125 57 512.22
4067 DB&T M 1,000,000 02/17/15 09/04/15 0.40% 157 42 460.27
27944 EDSB M 800,000 03/05/15 10/06/15 0.42% 189 26 241.05
27888 EDSB M 1,000,000 11/25/14 06/08/15 0.42% 69 126 1,453.32
27891 EDSB M 800,000 12/04/14 07/07/15 0.42% 98 117 1,079.61
Totals 6,200,000 6,710.64
Account CD Balance Accrued Interest
DMASWA 6,200,000 6,710.64
Weighted Yield: 0.409% City 0 0.00
Weighted Maturity in Days: 98.3 6,200,000 6,710.64
High Yield Savings Accounts
Account CIM
Ending APR @ Accrued
Number Institution Balance Month End Interest
671460 DB&T C 16,483 0.14% 933.36
44444116 EDSB C 1,516,151 0.30% 386.31
1,532,634 1,319.67
U.S. Treasury Bond
Account c/M Ending Maturity Face Value Accrued
Number Institution Balance Date Interest Rate Interest
2152-1478 LPL Financial C 2,856,155 02/15/37 4.75% 11,974.73
Unspent Bond Proceed Investment Accounts:
Ending APR
Bond Issue Institution c/M Balance Month End
2010A AT&S C 370,338 0.30%
2010B AT&S C 823,714 0.30%
2011A DB&T C 385,987 0.30%
2012B DB&T C 2,459,303 0.32%
2012C DB&T C 2,048,160 0.32%
2012D DB&T C 2,271,484 0.32%
2012E DB&T C 1,482,907 0.17%
2012F DB&T C 518,285 0.35%
2012H DB&T C 1,828,880 0.17%
2014A AT&S C 4,707,392 0.48%
2014B AT&S C 16,864,037 0.52%
20140 AT&S C 7,169,436 0.48%
DMASWA AT&S M 4,570,040 0.45%
45,499,961
(M)=DUBUQUE METROPOLITAN AREA SOLID WASTE AGENCY
(C)=CITY FUNDS
Print Date:4/172015