Quarterly Investment Report for September 30, 2015 Copyright 2014
City of Dubuque Consent Items # 17.
ITEM TITLE: Quarterly Investment Report for September 30, 2015
SUMMARY: City Manager transmitting the Quarterly Investment Report for September
30, 2015.
SUGGESTED DISPOSITION: Suggested Disposition: Receive and File
ATTACHMENTS:
Description Type
❑ September 30, 2015 Quarterly Investment Report-MVM Memo City Manager Memo
❑ September 30, 2015 Quarterly Investment Report 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: September 30, 2015 Quarterly Investment Report
DATE: November 9, 2015
Finance Director Ken TeKippe is transmitting the September 30, 2015 Quarterly
Investment Report.
// 'zj� k�4
Mic ael 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 CITY OF Dubuque
AII-Ame1 rica City
DUB9kE r
Masterpiece on the Mississippi 2007.2012.2013
TO: Michael C. Van Milligen, City Manager
FROM: Kenneth J. TeKippe, Finance Director
RE: September 30, 2015 Quarterly Investment Report
DATE: November 6, 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 July 1, 2015 through September 30, 2015.
The report includes: Cash Investments and Investment Earnings Summary
for quarter ended September 30, 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/em I
Enclosures
CITY OF DUBUQUE
Cash, Investments and Investment Earnings Summary
For The Quarter Ended September 30, 2015 And Fiscal Year To Date
Market Value / Unrealized
Carrying Including Gain (Loss) /
Description Value Accrued Interest Accrued Interest
Change & Petty Cash Funds 16,702 16,702 -
Checking/Savings Accounts 8,311 ,857 8,311 ,857 -
High Yield Savings Accounts 1 ,017,570 1 ,017,570 -
Unspent Bond Proceeds 48,983,478 48,983,478 -
Certificates Of Deposit 10,000,000 10,009,006 9,006
US Treasury Securities 2,015,125 2,763,572 748,447
Corporate Stock (EB Lyons Trust) 11 ,514 86,882 75,368
Investment Advisor Accounts 26,446,180 26,638,369 192,190
Total Funds 96,802,426 97,827,436 1,025,010
Breakdown
City 84,091 ,610 85,107,615 1 ,016,004
Metro 12,710,815 12,719,821 9,006
Total Combined Funds 96,802,426 97,827,436 1,025,010
Cash Basis Quarter Year-To-Date
Gross Earnings:
City 139,384 139,384
Metro 3,784 3,784
Combined 143,168 143,168
Investment Fees:
City 23,125 23,125
Metro 117 117
Combined 23,242 23,242
Net Earnings:
City 116,259 116,259
Metro 3,667 3 667
Combined 119,926 119,926
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FV123DATAAFin an ceAInvestmentsVInvestments 16AMonthly ReportsVCouncil Summary-x2016 1182015
City of Dubuque FY 16
Schedule of City Funds
September
2015 TOTAL
COST CITYFUNDS
City Managed Funds BASIS PERCENTAGE
CASH:
Change and Petty Cash Funds 16,702
Health Fund Deposit 150,000
Prescription Fund Deposit 75,000
Workers Comp Deposit 10,000
Hometown Deposit 1,000
Total 252,702 0.3%
CHECKING I SAVINGS ACCOUNTS:
American Trust&Savings Bank(General) 417,869
American Trust&Savings Bank(Housing Rehab§ion e) 110,322
Dubuque Bank&Trust(Generatmnetroicredip 6,795,761
Dubuque Bank&Trust(cable Franchise Equipment Fund) 691,352
US Bank (General/Ambulance) 9,009
Premier(utility) 5,761
East Dubuque Savings Bank(Utility) 9,191
Dubuque Bank&Trust Police Forfeiture Funds 37,593
BBVA Compass 0
Total 8,076,856 11.1%
UNSPENT BOND PROCEED INVESTMENT ACCOUNTS:
AT&S Series 2010A 370,711
AT&S Series 2010B 344,506
DB&T Series 2011A 330,241
DB&T Series 2012B 2,445,864
DB&T Series 2012C 823,346
DB&T Series 2012D 1,068,928
DB&T Series 2012E 1,251,782
AT&S Series 2012F 482,747
DB&T Series 2012H 1,593,128
AT&S Series 2014A 2,954,240
AT&S Series 2014B 14,016,112
AT&S Series 2014C 2,421,617
AT&S DMASWA 2,396,134
AT&S Series 2015A 7,961,669
Fidelity Series 2015A 10,522,454
Total 48,983,478 67.6%
CERTIFICATES OF DEPOSIT:
AT&S 3,000,000
DB&T 2,800,000
FB&T 900,000
EDSB 3,300,000
Total 10,000,000 13.8%
HIGH YIELD SAVINGS ACCOUNTS:
East Dubuque Savings Bank(Advantage savings) 1,017,570
1,017,570 1.4%
U.S. TREASURY OBLIGATIONS:
Debt Service Reserve Fund Required for Port Ramp 2,015,125
Total 2,015,125 2.8%
Bond Reserve:
Sales Tax Increment Rev Bond Reserve 2,086,674
Total 2,086,674 2.9%
F...1
City of Dubuque FY 16
Schedule of City Funds
September
2015
CORPORATE STOCK(Lyons Peony Trust): 11,514
Total 11,514 0.0%
TOTAL CITY MANAGED FUNDS 72,443,919 73.3%
FINANCIAL ADVISORS MANAGED FUNDS
PORTFOLIO TOTAL
COMPOSITION COST CITYFUNDS
PERCENTAGE BASIS PERCENTAGE
DANA INVESTMENT ADVISORS, INC:
Cash and Equivalents 4.3% 262,526
US Treasury Obligations 0.0% 0
US Agencies 26.9% 1,648,889
Mortgaged Backed Securities 68.8% 4,218,818
Total 100.0% 6,130,233 23.2%
DUBUQUE BANK&TRUST:
Cash and Equivalents 3.4% 266,867
US Treasury Obligations 96.6% 7,647,391
US Agencies 0.0% 0
Mortgaged Backed Securities 0.0% 0
Total 100.0% 7,914,258 29.9%
FIRST COMMUNITY TRUST:
Cash and Equivalents 2.1% 107,436
US Treasury Obligations 0.0% 0
US Agencies 91.4% 4,648,000
Mortgaged Backed Securities 6.5% 330,666
Total 100.0% 5,086,102 19.2%
US BANK:
Cash and Equivalents 27.5% 2,008,376
US Treasury Obligations 0.0% 0
US Agencies 70.8% 5,182,183
Mortgaged Backed Securities 1.7% 125,027
Total 100.0% 7,315,587 27.7%
GRAND TOTAL 26,446,180 26.7%
Cash& Equivalents 10.0% 2,645,206
US Treasury Obligations 28.9% 7,647,391
US Agencies 43.4% 11,479,072
Mortgage Backed Securities 17.7% 4,674,511
TOTAL FINANCIAL ADVISORS MANAGED FUNDS 100.0% 26,446,180
TOTAL CITY FUNDS 98,890,099 100.0%
RECAP OF PORTFOLIO PERCENTAGES Managed City Combined
CASH&EQUIVALENTS 3% 0% 3%
CHECKING/SAVINGS ACCTS 0% 59% 59%
MORTGAGE BACKED SECURITIES 5% 0% 5%
CERTIFICATES OF DEPOSIT 0% 10% 10%
U.S.TREASURY OBLIGATIONS 8% 2% 10%
FEDERAL AGENCIES 12% 0% 12%
Total 27% 71% 98%
P. 2
CITY OF DUBUQUE
MONTHLY INVESTMENT SUMMARY
Month Ending: 09/30/15
First
Community Managed Combined
Dana DB&T Trust US Bank Accounts City Finance Total
COST BASIS ANALYSIS
Cost Basis Prior Month 6,124,801 7,916,517 5,080,613 7,316,748 26,438,679 77,576,627 104,015,306
Additions:
Interest Earnings 8,330 1 7,848 14,644 30,823 36,012 66,834
Realized Gains(Losses) (2,355) (800) (13,704) (16,859) (16,859)
Total Additions 5,975 1 7,047 940 13,964 36,012 49,975
Subtractions:
Management Fees (1,646) (1,061) (1,514) (4,221) (4,221)
Custodian Fees (543) (615) (496) (588) (2,242) (2,242)
Bank Charges (588) (588)
Total Subtractions (543) (2,261) (1,557) (2,102) (6,463) (588) (7,052)
Cost Basis Current Month 6,130,233 7,914,258 5,086,102 7,315,587 26,446,180 77,612,050 104,058,230
Net Cash Receipts&(Disbursements) (4,176,528) (4,176,528)
Ending Cost Basis Balance 6,130,233 7,914,258 5,086,102 7,315,587 26,446,180 73,435,523 99,881,702
MARKET VALUE ANALYSIS
Investment Market Value Prior Month(Adjusted for Accruals) 6,223,367 7,940,936 5,111,990 7,292,949 26,569,243 78,360,587 104,929,830
Investment Market Value Current Month 6,212,823 7,937,164 5,131,284 7,291,418 26,572,689 74,247,035 100,819,723
Accrued Interest Current Month 12,417 16,617 17,599 19,047 65,680 12,675 78,355
Market Value Adjusted for Accruals 6,225,240 7,953,781 5,148,884 7,310,465 26,638,369 74,259,709 100,898,079
Portfolio Returns(computed by Investment Ma rapers)
Monthly Return Gross of Fees 0.06% 0.19% 0.77% 0.27%
Monthly Return Net of Fees 0.04% 0.16% 0.74% 0.24%
Total Return Calendar Year to Date 2015 Gross 0.72% 0.69% 2.56% 1.00%
Effective Duration in Years 0.80 0.82 3.45 1.85
Market Indices
Average Last Calendar Last Last
Month Year to Date 12 Months 3 Years
Barclays 90 Day T-Bills 0.02% 0.04% 0.05% 0.07%
Barclays Short Term 1-3 Yr Govt.bonds 0.30% 1.01% 1.20% 0.70%
Barclays Intermediate Govt bonds 0.75% 2.03% 3.00% 1.10%
Barclays Government Bonds 0.85% 1.79% 3.68% 1.30%
Current Prime Rate 3.25%
City of Dubuque
Schedule of Certificates of Deposit,Accrued Interest, High Yield Savings Accounts& Unspent Bond Proceeds
As of
September 30, 2015
Certificates of Deposit:
Certificate Cost Purchase Maturity Interest Days to Accrued Accrued
Number Institution qM Basis Date Date Rate Maturity Days Interest
27944 EDSB M 800,000 03/05/15 10/06/15 0.42% 6 209 1,937.69
27981 EDSB M 600,000 04/16/15 11/02/15 0.45% 33 167 1,243.58
123699 FB&T M 900,000 05/11/15 12/03/15 0.46% 64 142 1,617.63
28016 EDSB M 900,000 06/08/15 01/14/16 0.42% 106 114 1,183.41
4214 EDSB M 800,000 07/07/15 02/02/16 0.50% 125 85 931.51
28083 EDSB M 1,000,000 08/03/15 03/10/16 0.52% 162 58 827.89
4278 DB&T C 2,000,000 09/18/15 03/17/16 0.55% 169 12 361.64
5099905126 AT&S M 1,000,000 09/04/15 04/11/16 0.62% 194 26 442.36
5354670878 AT&S C 2,000,000 09/16/15 05/27/16 0.60% 240 14 460.27
Totals 10,000,000 9,005.98
Account CD Balance Accrued Interest
Weighted Yield: 0.525% DMASWA 6,000,000 8,184.07
Weighted Maturity in Days: 145.2 City 4,000,000 821.91
10,000,000 9,005.98
High Yield Savings Account
Account aM Ending APR @ Accrued
Number I Institution Balance Month End Interest
44444116 EDSB C 1,018,278 0.22% 191.93
Totals 1,018,278 191.93
U.S. Treasury Bond
Account c/M Ending I Face Value Accrued
Number Institution Balance Interest Rate Interest
2152-1478 LPL Financial C 2,751,269 4.75% 12,303.02
Totals 2,751,269 12,303.02
Unspent Bond Proceed Investment Accounts: Unspent Bond Proceed Reserve Accounts:
Ending APR Ending APR
Bond Issue Institution CIM Balance Month End Bond Issue Institution CIM
Balance Month End
2010A AT&S C 370,772 0.20% Reserve Fund FB&T C 2,089,247 1.50%
2010B AT&S C 344,563 0.20%
2011A DB&T C 330,241 0.30%
2012B DB&T C 2,445,864 0.32%
2012C DB&T C 823,577 0.33%
2012D DB&T C 1,069,250 0.34%
2012E DB&T C 1,251,782 0.17%
2012F AT&S C 482,866 0.30%
2012H DB&T C 1,593,128 0.17%
2014A AT&S C 2,955,415 0.48%
2014B AT&S C 14,024,069 0.52%
2014C AT&S C 2,422,758 0.48%
DMASWA AT&S M 2,397,311 0.45%
2015A AT&S C 7,964,940 0.50%
2015A FB&T C 10,531,102 0.68%
Totals 49,007,639 Totals 2,089,247
(C)=CITY FUNDS (M)=DUBUQUE METROPOLITAN AREA SOLID WASTE AGENCY
Print Date:1021/2015