Quarterly Investment Report Copyright 2014
City of Dubuque Consent Items # 14.
ITEM TITLE: Quarterly Investment Report
SUMMARY: City Manager transmitting the June 30, 2015 Quarterly Investment Report.
SUGGESTED DISPOSITION: Suggested Disposition: Receive and File
ATTACHMENTS:
Description Type
❑ June 30,2015 Quarterly Investment Report-MVM Memo City Manager Memo
❑ June 30,2015 Quarterly Investment Report memo Staff Memo
❑ Cash Investments and Investment Earnings Summary Supporting Documentation
❑ 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: June 30, 2015 Quarterly Investment Report
DATE: July 28, 2015
Finance Director Ken TeKippe is transmitting the attached June 30, 2015 Quarterly
Investment Report.
S4-'6�-
MicKael C. Van Milligen
MCVM:jh
Attachment
cc: Barry Lindahl, City Attorney
Cindy Steinhauser, Assistant City Manager
Teri Goodmann, Assistant City Manager
Kenneth J. TeKippe, Finance Director
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: June 30, 2015 Quarterly Investment Report
DATE: July 27, 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 April 1, 2015 through June 30, 2015.
The report includes: Cash Investments and Investment Earnings Summary
for quarter ended June 30, 2014 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
Cash, Investments and Investment Earnings Summary
For The Quarter Ended June 30, 2015 And Fiscal Year To Date
Market Value / Unrealized
Carrying Including Gain (Loss) /
Description Value Accrued Interest Accrued Interest
Change & Petty Cash Funds 15,666 15,666 -
Checking/Savings Accounts 11 ,860,939 11 ,860,939 -
High Yield Savings Accounts 1 ,534,987 1 ,534,987 -
Unspent Bond Proceeds 58,573,986 58,573,986 -
Certificates Of Deposit 5,800,000 5,807,148 7,148
US Treasury Securities 2,015,125 2,664,195 649,070
Corporate Stock (EB Lyons Trust) 11 ,514 94,480 82,966
Investment Advisor Accounts 26,451 ,000 26,540,709 89,709
Total Funds 106,263,217 107,092,110 828,893
Breakdown
City 96,093,455 96,915,200 821 ,745
Metro 10,169,762 10,176,910 7,148
Total Combined Funds 106,263,217 107,092,110 828,893
Cash Basis Quarter Year-To-Date
Gross Earnings:
City 169,914 613,086
Metro 11 ,823 29,469
Combined 181,737 642,555
Investment Fees:
City 31 ,423 104,325
Metro 186 1 615
Combined 31,609 104,941
Net Earnings:
City 138,490 508,760
Metro 11 ,637 28,854
Combined 150,127 537,614
FV123DATAAFINSECAI 0 A C\MVM Quarterly Inv.Report;A2015 Jun eACouncil Summary-G2015 As ]/2]/2015
City of Dubuque FY 15
Schedule of City Funds
Current
TOTAL
COST CITY FUNDS
City Managed Funds BASIS PERCENTAGE
CASH:
Change and Petty Cash Funds 15,666
Health Fund Deposit 150,000
Prescription Fund Deposit 75,000
Workers Comp Deposit 10,000
Pitney Bowes Postage Deposit
Total 250,666 0.3%
CHECKING/SAVINGS ACCOUNTS:
American Trust&Savings Bank(General) 217,148
American Trust&Savings Bank(Housing Rehab§ion a) 110,546
Dubuque Bank&Trust(Generai/Metre/Leivure) 10,476,501
Dubuque Bank&Trust(cable Franchise Equipment Fund) 640,274
US Bank (General/Ambulance) 124,982
Premier(utility) 2,140
East Dubuque Savings Bank(unity) 2,894
Dubuque Bank&Trust Police Forfeiture Funds 37,591
BBVA Compass 13,865
Total 11,625,939 14.6%
UNSPENT BOND PROCEED INVESTMENT ACCOUNTS:
AT&S Series 2010A 370,585
AT&S Series 2010B 352,968
DB&T Series 2011A 332,179
DB&T Series 2012B 2,451,378
DB&T Series 2012C 957,098
DB&T Series 2012D 1,710,363
DB&T Series 2012E 1,291,496
AT&S Series 2012F 483,792
DB&T Series 2012H 1,652,964
AT&S Series 2014A 3,625,575
AT&S Series 2014B 15,830,484
AT&S Series 2014C 4,922,977
AT&S DMASWA 4,005,037
AT&S Series 2015A 8,005,295
Fidelity Series 2015A 10,501,795
Total 56,493,986 70.8%
CERTIFICATES OF DEPOSIT:
DB&T 1,000,000
ATSB 800,000
FB&T 900,000
E DS B 3,100,000
Total 5,800,000 7.3%
HIGH YIELD SAVINGS ACCOUNTS:
Dubuque Bank&Trust(Premium savings) 17,417
East Dubuque Savings Bank(Advantage savings) 1,517,570
1,534,987 1.9%
U.S. TREASURY OBLIGATIONS:
Debt Service Reserve Fund Required for Port Ramp 2,015,125
Total 2,015,125 2.5%
Bond Reserve:
Sales Tax Increment Rev Bond Reserve 2,080,000
Total 2,080,000 2.6%
CORPORATE STOCK(Lyons Peony Trust). 11,514
vasa 1
City of Dubuque FY 15
Schedule of City Funds
Current
Total 11,514 0.0%
TOTAL CITY MANAGED FUNDS 79,812,217 75.1%
FINANCIAL ADVISORS MANAGED FUNDS
PORTFOLIO TOTAL
COMPOSITION COST CITY FUNDS
PERCENTAGE BASIS PERCENTAGE
DANA INVESTMENT ADVISORS, INC:
Cash and Equivalents 4.1% 249,882
US Treasury Obligations 5.2% 321,065
US Agencies 22.0% 1,348,889
Mortgaged Backed Securities 68.7% 4,211,410
Total 100.0% 6,131,246 23.2%
DUBUQUE BANK&TRUST:
Cash and Equivalents 3.5% 273,647
US Treasury Obligations 20.4% 1,618,686
US Agencies 76.1% 6,028,705
Mortgaged Backed Securities 0.0%
Total 100.0% 7,921,038 29.9%
FIRST COMMUNITY TRUST:
Cash and Equivalents 0.5% 27,742
US Treasury Obligations 0.0%
US Agencies 92.4% 4,688,823
Mortgaged Backed Securities 7.1% 359,242
Total 100.0% 5,075,807 19.2%
US BANK:
Cash and Equivalents 32.9% 2,411,691
US Treasury Obligations 0.0% 0
US Agencies 61.9% 4,536,191
Mortgaged Backed Securities 5.1% 375,027
Total 100.0% 7,322,909 27.7%
GRAND TOTAL 26,451,000 24.9%
BREAKDOWN BY TYPE OF SECURITY:
Cash& Equivalents 11.2% 2,962,962
US Treasury Obligations 7.3% 1,939,750
US Agencies 62.8% 16,602,608
Mortgage Backed Securities 18.7% 4,945,680
TOTAL FINANCIAL ADVISORS MANAGED FUNDS 100.0% 26,451,000
TOTAL CITY FUNDS 106,263,217 100.0%
RECAP OF PORTFOLIO PERCENTAGES Managed City Combined
CASH&EQUIVALENTS 3% 0% 3%
CHECKING/SAVINGS ACCTS 0% 66% 66%
MORTGAGE BACKED SECURITIES 5% 0% 5%
CERTIFICATES OF DEPOSIT 0% 5% 5%
U S.TREASURY OBLIGATIONS 2% 2% 4%
FEDERAL AGENCIES 16% 0% 16%
Total 25% 73% 98%
Paget
CITY OF DUBUQUE
MONTHLY INVESTMENT SUMMARY
Month Ending: 06/30/15
First
Community Managed Combined
Dana DB&T Trust US Bank Accounts City Finance Total
COST BASIS ANALYSIS
Cost Basis Prior Month 6,126,806 7,923,297 5,070,616 7,321,810 26,442,529 73,817,892 100,260,421
Additions:
Interest Earnings 6,268 2 7,437 3,201 16,909 52,889 69,798
Realized Gains(Losses) (1,286) (690) (1,976) (1,976)
Total Additions 4,982 2 6,748 3,201 14,933 52,889 67,822
Subtractions:
Management Fees 0 (1,645) (1,060) (1,515) (4,219) (4,219)
Custodian Fees (543) (616) (496) (588) (2,243) (2,243)
Bank Charges (1,775) (1,775)
Total Subtractions (543) (2,261) (1,556) (2,102) (6,462) (1,775) (8,236)
Cost Basis Current Month 6,131,246 7,921,038 5,075,807 7,322,909 26,451,000 73,869,007 100,320,007
Net Cash Receipts&(Disbursements) 5,943,211 5,943,211
Ending Cost Basis Balance 6,131,246 7,921,038 5,075,807 7,322,909 26,451,000 79,812,217 106,263,217
MARKET VALUE ANALYSIS
Investment Market Value Prior Month(Adjusred forAccruals) 6,227,451 7,947,137 5,103,062 7,286,301 26,563,950 74,643,724 101,207,674
Investment Market Value Current Month 6,203,838 7,931,142 5,075,951 7,262,772 26,473,703 80,508,064 106,981,766
Accrued Interest Current Month 24,731 6,028 14,915 21,333 67,006 43,338 110,345
Market Value Adjusted for Accruals 6,228,568 7,937,169 5,090,866 7,284,105 26,540,709 80,551,402 107,092,111
Portfolio Returns(computed by Investment M a uppers)
Monthly Return Gross of Fees 0.07% (0.10%) (0.21%) 0.00%
Monthly Return Net of Fees 0.05% (0.13%) (0.24%) (0.03%)
Total Return Calendar Year to Date 2015 Gross 0.52% 0.40% 1.31% 0.54%
Effective Duration in Years 0.91 1.05 3.75 1.52
Market Indices
Average Last Calendar Last Last
Month Year to Date 12 Months 3 Years
Barclays 90 Day T-Bills 0.00% 0.01% 0.03% 0.08%
Barclays Short Term 1-5 Yr Govt.bonds 0.02% 0.69% 0.91% 0.68%
Barclays Intermediate Govt bonds -0.39% 0.82% 1.79% 0.90%
Barclays Government Bonds -0.85% 0.08% 2.27% 0.93%
Current Prime Rate 3.25%
City of Dubuque
Schedule of Certificates of Deposit,Accrued Interest, High Yield Savings Accounts &Unspent Bond Proceeds
As of
June 30, 2015
Certificates of Deposit:
Certificate CSM Cost Purchase Maturity Interest Days to Accrued Accrued
Number Institution Basis Date Date Rate Maturity Das Interest
27981 EDSB M 600,000 04/16/15 11/02/15 0.45% 125 75 558.49
123699 FB&T M 900,000 05/11/15 12/03/15 0.46% 156 50 569.59
1586 ATSB M 800,000 02/02/15 08/03/15 0.41% 34 148 1,329.97
4067 DB&T M 1,000,000 02/17/15 09/04/15 0.40% 66 133 1,457.53
27944 EDSB M 800,000 03/05/15 10/06/15 0.42% 98 117 1,084.73
28016 EDSB M 900,000 06/08/15 01/14/16 0.42% 198 22 228.38
27891 EDSB M 800,000 12/04/14 07/07/15 0.42% 7 208 1,919.30
Totals 5,800,000 7,147.99
Account CD Balance Accrued Interest
DMASWA 5,800,000 7,147.99
Weighted Yield: 0.426% City 0 0.00
Weighted Maturity in Days: 98.4 5,800,000 7,147.99
High Yield Savings Accounts
Account CIM Ending APR @ Accrued
Number Institution Balance Month End Interest
671460 DB&T C 17,417 0.01% 0.00
44444116 EDSB C 1,517,570 0.22% 0.00
1,534,987 0.00
U.S. Treasury Bond
Account aM Ending Maturity Face Value Accrued
Number Institution Balance Date Interest Rate Interest
2152-1478 LPL Financial C 2,628,005 02/15/37 4.75% 36,190.28
Unspent Bond Proceed Investment Accounts:
Ending APR
Bond Issue Institution aM Balance Month End
2010A AT&S C 370,585 0.20%
2010B AT&S C 352,968 0.20%
2011A DB&T C 332,179 0.30%
2012B DB&T C 2,451,378 0.32%
2012C DB&T C 957,098 0.33%
2012D DB&T C 1,710,363 0.34%
2012E DB&T C 1,291,496 0.17%
2012F AT&S C 483,792 0.30%
2012H DB&T C 1,652,964 0.17%
2014A AT&S C 3,625,575 0.48%
2014B AT&S C 15,830,484 0.52%
20140 AT&S C 4,922,977 0.48%
DMASWA AT&S M 4,005,037 0.45%
2015A AT&S C 8,005,295 0.50%
2015A FB&T C 10,501,795 0.68%
56,493,986
(M)=DUBUQUE METROPOLITAN AREA SOLID WASTE AGENCY
(C)=CITY FUNDS
Print Date:7272015