Investment Report Qtrly 3 31 02MEMORANDUM
May 1, 2002
TO:
FROM:
SUBJECT:
The Honorable Mayor and City Council Members
Michael C. Van Milligen, City Manager
March 31, 2002 Quarterly Investment Report
Finance Director Ken TeKippe is transmitting the March 31,2002 Quarterly Investment
Report.
Michael C. Van Milligen
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
March 31, 2002 Quarterly Investment Report
April 17, 2002
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, 2002 through March 31, 2002.
The report includes: Cash Investments and Investment Earnings Summary
for quarter ended March 31, 2002 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 March 31, 2002 & 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
86,775 86,775 0
17,342,810 17,342,810 0
31,000,000 31,205,540 205,540
2,969,820 2,987,281 17,461
10,391 76,680 66,289
23,901,633 24,518,393 616,760
75,311,428 76,217,479 906,050
Breakdown
cig
Me~ro
Total Combined Funds
67,055,891 67,915,409 859,518
8,255,537 8,302,069 46,532
75,311,428 76~217,479 906,050
Cash Basis
Gross Earnings:
Metro
Combined
Investment Fees:
cig
M~tro
Combined
Net Earnings:
c~
Metro
Combined
Quarter
563,264
54,118
Year-To-Date
2,032,076
221,042
617,382 2,253,119
39,645 116,574
129 408
39,775 116,982
523,619 1,915,502
53,989 220,635
577,608 2,136,136
CITY OF DUBUQUE
SCHEDULE OF CITY FUNDS
FOR MONTH ENDING MARCH 31, :2002
MANAGED FUNDS
PORTFOLIO
COMPOSITION
PERCENTAGE
COST
BASIS
TOTAL
CITY FUNDS
PERCF~TAGE
DANA II~WESTMENT ADVISORS, INC.:
Cash
Mutual Funds (US Government)
Cerfificatas Of Deposit
US Trcasluy Obligations
Federal Agency Oblig'mions
Total
0.00%
0.57%
0.00%
0.00%
99.43%
100.00%
0.00
44,660.56
0.00
0.00
7,826,694.64
7,871,355.20 10.45%
DUBUQUE BANK & TRUST COMPANY:
Cash
Mutual Funds (US Government)
C~ Of Depos~
US Tnmsu~ Obligations
Federal Agency Obligations
0.00% 0.00
6.51% 514,214.37
0.00% 0.00
0.00% 0.00
93.49% 7,382,225.34
Total 100.00% 7,896,439.71 10.49%
US BANK:
Cash
Mutual Funds (US Govemmem)
Certificmas Of Deposit
US Treasury Obligations
Federal Agency Obligations
Total
GP. AND TOTAL
0.00% 0.00
5.29OA 430,324.09
3.87% 3 t4,796.20
15A8% 1,259,065.69
75.36% 6,129,652.03
100.00%
8,133,838.01 10.80%
23,901,632.92 31.74%
BREAKDOWN BY TYPE OF SECURITY:
Mutual Funds (US Government)
Cca~c~as Of Deposit
US Trensmy Obligafior~s
Federal Agency Obligations
TOTAL MANAGED FUNDS
0.00% 0.00 0.00%
4.14% 989,199.02 1.31%
1.32% 314,796.20 0.42%
5.27% 1,259,065.69 1.67%
89.28% 21,338,572.01 28.33%
100.00% 23,901,632.92 31.74%
Page
CITY OF DUBUQUE
SCHEDULE OF CITY FUNDS
FOR MONTH ENDING MARCH 31, 2002
OTHER
CASH
Change Funds and Petty Cash
NPA & Workers Comp Deposit
TOTAL
COST CITY FUNDS
BASIS PERCENTAGE
8,775.00
78,000.00
86,775.00 0.12%
CHECKING / SAVINGS ACCOUNTS:
American Trust & Savings Bank (G~al Sv~p
American Trust & Savings Bank (Bond Pro~s)
American Trust & Savings Bank (Amc~ca's River)
American Trust & Savings Bank ~ous~g
Dubuque Bank & Trust Co. (Gen~a~etrceL~is~e
US Bank (O~:~raVH~A~ba~nce~5 Flags)
Liberty
Premier
Total
1,897,575.21
13,219,058.39
0.00
436,953.61
1,333,744.48
436,237.07
8,379.28
10,861.81
17,342,809.85
23.03%
CER'rlFiCATES OF DEPOSIT:
American Trust & Savings Bank
Dupaeo Community Credit Union
Dubuque Bank & Trust Co.
East Dubuque Savings Bank
US Bank
Liberty Bank
Premier Bank
1,000,000.00
0.00
2,000,000.00
4,500,000.00
6,500,000.00
14,000,000.00
3,000,000.00
31,000,000.00 41.16%
U.S. TREASURY OBLIGATIONS
2,969,820.00 3.94%
CORPORATE STOCK (Lyons P~ony Trust)
10,390.71 0.01%
TOTAL OTHER FUNDS
51,409095.56 68.26%
7S,~H,428.48 ioo.0o%
TOTAL CITY FUNDS
[RECAP OF PORTFOLIO PERCENTAGES ]
CASH
CHECKING / SAVINGS ACCTS
MUTUAL FUNDS (U.S. GOVEKNMENT)
CERTIFICATES OF DEPOS1T
U.S. TREASURY OBLIGATIONS
FEDERAL AGENCY OBLIGATIONS
CORPORATE STOCK
MANAGED OTHER COMBINED
FUNDS FUNDS TOTAL
0.00% 0.12% 0.12%
0.00% 23.03% 23.03%
1.31% 0.00% 1.31%
0.42% 41.16% 41.58%
1.67% 3.94% 5.62%
28.33% 0.00% 28.33%
0.00% 0.01% 0.01%
31.74%
68.26% 100.00%
Pase 2
COST BASIS ANAL YSI$
Cost Basis Prior Month
Additions:
Interest Earnings
Realized Gains (Losses)
Subtractions:
Management Fees
Custodian Fees
Bank Charges
Total Additions
Total Subtractions
Cost Basis Current Month
Net Cash Receipts & (Disbursements)
Ending Cost Basis Balance
CITY OF DUBUQUE
MONTHLY INVESTMENT SUMMARY
Month Ending: Mar-31-02
Managed Combined
Dana DB&T US Bank Accounts City Finance Total
7,840,228.01 7,874,479.50 8,117,128.95 23,831,836.46 50,580,620.86 74,412,457.32
39,553.35 23,469.90 17,436.05 80,459.30 70,321.38 150,780.68
(7,774.86) (839.87) (62.12) (8,676.85) 0.00 (8,676.85)
31,778~49 22,630.03 17,373.93 71,782.45 70,321.38 142,103.83
0.00 0.00 0.00 0.00 0.00 0.00
(651.30) (669.82) (664,87) (1,985.99) 0.00 (1,985.99)
0.00 0.00 0.00 0.00 (1,794.04) (1,794.04)
(651.30) (669.82) (664.87) (1,985.99) (1,794.04) (3,780.03)
7,871,355.20 7,896,439.71 8,133,838.01 23,901,632.92 50,649,148.20 74,550,781.12
0.00 0.00 0.00 0.00 760,647.36 760,647.36
7,871,355.20 7,896,439.71 8,133,838.01 23,901,632.92 51,409,795.56 75,311,428.48
CHANGE IN COST BASIS ADJUSTED
FOR ACCRUALS
Cost Basis Current Month
Plus: Accrued Interest Current Month
Less: Accrued Interest Prior Month
Cost Basis Adjusted for Accruals
Annualized: Current Month
Annualized: Prior Month
7,871,355.20 7,896,439.71 8,133,838.01 23,901,632.92 50,649,148.20 74,550,781.12
60,435.78 101,968.49 96,209.93 258,614.20 223,001.04 481,615.24
(62,708.64) (87,925.92) (66,700.20) (217,334.76) (194,621.45) (411,956.21)
7,869,082.34 7,910,482.28 8,163,347.74 23,942,912.36 50,677,527.79 74,620t440.15
4.42% 5.49% 6.83% $.$9% 2.30% 3.35%
4.67% 5.44% 4.05% 4.71% 2.35% 3.09%
Pase 1
MARKET E4LUE ANALYSIS
Investment Market Value Prior Month
Investment Market Value Current Month
Acerucd 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
CITY OF DUBUQUE
MONTHLY INVESTMENT SUMMARY
Month Ending: Mar-31-02
Managed Combined
Dana DB&T US Bank Accounts CiW Finance Total
7,893,795.68 8,363,710.11 8,323,489.81 24,580,995.60 50,843,324.30 75,424,319.90
7~866,764.43 8,18%97&47 8,203,035.55 24,259,778.45 50,715,437.49 74,975,215~94
60,435.78 101,968.49 96,209.93 258,614.20 223,001.04 481,615.24
7,927,200.21 8,291,946.96 8,299,245.48 24,518,392.65 50,938,438.53 75,456,831.18
0.00 0.00 0.00 0.00 760,647.36 760,647.36
7,927,200~21 81291,946.96 8,299,245.48 24,518,392.65 51,69%085.89 76,217,478.54
Marketlndices
Average Last Average Last Calendar
3 Months 12 Months Year to Date
90 Day T-Bills
Lehman Aggregate Govt. Bonds
Lehman Short Term Govt. Bonds
Lehman Intermediate Govt, Bonds
Consumer Price Index
Current Prime Rate*
0.44%
(0.63%)
0.02%
(0.26%1
0.40%
3.11% 0.44%
3.94% (0.63%)
5.60% 0.02%
4.98% (0.26%)
1.01% 0.40%
4.75%
*Ra~asof 03-31-02
Page 2
City of Dubuque
Schedule of Certificates of Deposit
As of March 31, 2002
I Certificate Descriptions I
Certificate Purchased Interest Compounded
Numl~c From Rate Yield Interest Terms
113324 A.T.&S. 4.01% 4,010%
50865 Metro Liberty 3.47% 3 A70%
50885 M~ro Liberty 2.67% 2,670%
404487 Premier 2.59% 2.590%
7053 EDSB 2.49% 2,490%
50893 Liberty 2.52% 2.520%
50896 Metro Liberty 2.47% 2,470%
505565 DB&T 2.40% 2.410%
501208 DB&T 1.80% 1.810%
3555204395 US Bank 1.90% 1.940%
348010139 Metro US Bank 1.93% 1.930%
3555204403 US Bank 2.00% 2.040%
348010188 US Bank 1.99% 1.990%
50985 Liberty 2.07% 2.070%
51010 Liberty 2.07% 2.070%
404630 Metro Premier 2,48% 2.475%
7334 EDSB 2.20% 2.200%
51020 Liberty 1.87% 1.870%
348010524 US Bank 2.16% 2.160%
51026 Liberty 1.77% 1.770%
404663 Premicr 1.83% 1.830%
7437 EDSB 1.85% 1.850%
51040 Liberty 1.87% 1.870%
7536 Metro EDSB 1.85% 1.850%
51046 Liberty 1,87% 1.870%
51066 Liberty 1.87% 1.870%
348011727 Metro US Bank 2.12% 2.120%
Earnings paid semi-am~ually by che~k.
Earnings paid semi-annually by check,
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,
Earnings credited at maturity.
Earnings credited at maturity.
Earnings credited at maturity.
Earnings credited at maturity.
Earnings credited at maturity.
Earnings paid semi-annually by check.
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.
Earnings credited at maturity,
Earnings credited at maturity.
Earnings credited at maturity.
City of Dubuque
Schedule of Certificates of Deposit
As of March 31, 2002
Certificate Purchased Cost Purchase Maturity Last Interest Compounded Days to Accrued
Number From Basis Date Date Payment Yield Maturity Days
113324
50865
50885
404487
7053
50893
50896
505565
501208
3555204395
348010139
3555204403
348010188
50985
51010
404630
7334
51020
348010524
51026
404663
7437
51040
7536
51046
51066
348011727
Totals
AT&S
Liberty(M)
Liberty(M)
Premier
EDSB
Liber~
Libcrty0Vl)
DB&T
DB&T
US Bank
US ~an~(M)
US Bank
US Bank
Liberty
Liberty
Premier(M)
EDSB
Liberty
US Bank
Liberty
Premier
EDSB
Liberty
EDS~(M)
Liberty
Liber~
US ~an~(M)
1,000,000~00 06/29/01 06/29/02 12/28/01 4.010%
1,000,000.00 09/19/01 09/19/02 03/19/02 3.470%
1,000,000.00 10/09/01 04/09/02 10/09/01 2.670%
1,000,000.00 10/16/01 04/16/02 10/16/01 2.590%
1,000,000.00 10/17/01 04/17/02 10/17/01 2.490%
2,000,000.00 10/22/01 04/22/02 10/22/01 2.520%
1,500,000.00 10/26/01 04/26/02 10/26/01 2.470%
1,000,000.00 11/01/01 05/02/02 11/01/01 2.410%
1,000,000.00 tl/07/01 05/08/02 11/07/01 1.810%
1,000,000.00 11/16/01 05/17/02 11/16/01 1.940%
1,000,000.00 11/21/01 05/22/02 11/21/01 1.930%
1,000,000.00 11/26/01 05/27/02 11/26/01 2.040%
1,000,000.00 11/27/01 05/28/02 11/27/01 1.990%
2,000,000.00 11/30/01 05/31/02 11/30/01 2.070%
1,000,000.00 12/17/01 06/17/02 12/17/01 2.070%
1,000,000.00 12/20/01 12/20/02 12/20/01 2.475%
1,500,000.00 12/21/01 06/21/02 12/21/01 2.200%
2,000,000.00 12/21/01 06/21/02 12/21/01 1.870%
1,500,000.00 12/26/01 12/26/02 12/26/01 2.160%
1,000,000.00 01/04/02 07/05/02 01/04/02 1.770%
1,000,000.00 01/10/02 07/11/02 01/10/02 1.830%
1,000,000.00 01/11/02 07/12/02 01/11/02 1.850%
500,000.00 0t/23/02 07/24/02 01/23/02 1.870%
1,000,000.00 01/31/02 08/01/02 01/31/02 1.850%
1,000,000.00 02/05/02 08/06/02 02/05/02 1.870%
1,000,000.00 02/19/02 08/20/02 02/19/02 1.870%
1,000,000.00 03/28/02 09/26/02 03/28/02 2.120%
$31~00~00.00
Weighted Yield:
2.231%
Weighted Maturity:
90
172
9
16
17
22
26
32
38
47
52
57
58
61
78
264
82
82
270
96
102
103
115
123
128
142
179
88.95
93
12
173
166
165
160
156
150
144
135
130
125
124
121
104
101
100
100
95
86
8O
79
67
59
54
40
3
Days
Interest
10,217.26
1,t40.82
t2,655.07
11,779.18
11,256.16
22,093.t5
t5,835.07
9,863~01
7,101.37
7,027.40
6,873.97
6,849.32
6,760.55
13,724.38
5,898.08
6,862.47
9,041.10
10,246.58
8,432.88
4,170.41
4,010.96
4,004.11
1,716.30
2,990.41
2,766.58
2,049.32
174.25
$205,540.16
City of Dubuque
Schedule of U.S. Treasury Securities
As of March 31, 2002
Par Issue Maturity Cost Days to Accrued Accrued
CUSIP No. Value Date Date Price Basis Yield Maturity Days Interest
912795JR3 1,000,000.00 10/25/2001 04/25/2002 98.923 989,230.00 2.183% 24 158 9,231.43
912795JW2 1,000,000.00 11/29/2001 05/30/2002 98.994 989,940.00 2.038% 59 123 6,688.24
912795KY6 1,000,000.00 02/28/2002 08/29/2002 99.065 990,650.00 1.893% 150 32 1,541.21
Totals $3,000,000.00 $2,969,820.00 $17,460.88
Weighted Yield: 2.038%
Weighted Maturity:
77.67 Days