Quarterly Investment Report_August 2018 Copyrighted
August 7, 2017
City of Dubuque Consent Items # 26.
ITEM TITLE: Quarterly Investment Report
SUMMARY: City Manager transmitting the June 30, 2017 Quarterly
Investment Report.
SUGGESTED DISPOSITION: Suggested Disposition: Receive and File
ATTACHMENTS:
Description Type
June 30, 2017 Quarterly Investment Report-MVM Memo City Manager Memo
Quarterly Investment Report MVM June 30, 2017 Staff Memo
Cash, Investments, & Inv Ern Summary FY 17 Staff Memo
Schedule of City Funds Staff Memo
Monthly Investment Summary Staff Memo
Schedule of CD and Accrued Interest Staff Memo
Manager/Custodian Annual Fees Computation Staff Memo
THE COF Dubuque
DtUB
E All-America
City
Masterpiece on the Mississippi 1 1 1 1"
2009•2012•2013•2019
TO: The Honorable Mayor and City Council Members
FROM: Michael C. Van Milligen, City Manager
SUBJECT: June 30, 2017 Quarterly Investment Report
DATE: July 31, 2017
Finance Director Jean Nachtman is transmitting the attached June 30, 2017 Quarterly
Investment Report.
ZIA-i k�4
Mic ael C. Van Milligen
MCVM:jh
Attachment
cc: Crenna Brumwell, City Attorney
Teri Goodmann, Assistant City Manager
Jean Nachtman, Finance Director
THE CITY OF Dubuque
UB9kE 111-America III
I.
Masterpiece on the Mississippi 2007-2012-2013
TO: Michael C. Van Milligen, City Manager
FROM: Jean Nachtman, Finance Director
RE: June 30, 2017 Quarterly Investment Report
DATE: July 31, 2017
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 , 2017 through June 30, 2017.
The report includes: Cash Investments and Investment Earnings Summary
for quarter ended June 30, 2017 and fiscal year to date
Schedule of City Funds
Monthly Investment Summary
Schedule of Certificates of Deposit and Accrued Interest
Manager/Custodian Annual Fees Computation
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.
J N/cm
Enclosures
CITY OF DUBUQUE
Cash, Investments and Investment Earnings Summary
For The Quarter Ended June 30, 2017 And Fiscal Year To Date
Market Value / Unrealized
Carrying Including Gain (Loss) /
Description Value Accrued Interest Accrued Interest
Change & Petty Cash Funds 18,685 18,685
Checking/Savings Accounts 19,553,023 19,553,023
Unspent Bond Proceeds 23,383,751 23,383,751 -
Certificates Of Deposit 17,226,107 17,271 ,311 45,204
US Treasury Securities 2,015,125 2,738,978 723,853
Corporate Stock (EB Lyons Trust) 11 ,514 100,256 88,742
Investment Advisor Accounts 26,782,619 26,772,927 (9,692)
Total Funds 88,990,824 89,838,932 848,108
Breakdown
City 75,869,995 76,689,666 819,671
Metro 13,120,829 13,149,265 28,436
Total Combined Funds 88,990,824 89,838,932 848,108
Cash Basis Quarter Year-To-Date
Gross Earnings:
City 715,620 829,715
Metro 10,795 42,605
Combined 726,415 872,320
Investment Fees:
City 81 ,203 96,112
Metro 249 650
Combined 81,452 96,763
Net Earnings:
City 634,417 733,603
Metro 10,546 41 ,955
Combined 644,963 775,557
City of Dubuque
Schedule of City Funds
As of
June 30,2017
TOTAL
COST CITY FUNDS
CITY MANAGED FUNDS BASIS PERCENTAGE
CASH:
Change and Petty Cash Funds 18,685
Health Fund Deposit 150,000
Prescription Fund Deposit 75,000
Workers Comp Deposit 10,000
Ambulance Deposit 103,899
Total 357,584 0.39%
CHECKING 1 SAVINGS ACCOUNTS:
American Trust&Savings Bank(General) 508,217
American Trust&Savings Bank(Housing Rehab a section e) 399,601
Dubuque Bank&Trust(General/Metro/Credit) 16,491,266
Dubuque Bank&Trust(cable Franchise Equipment Food) 612,647
US Bank (General) 14,481
Premier(uaiiry) 8,188
Fidelity Bank&Trust(uaiiry) 870,766
Dubuque Bank&Trust Police Forfeiture Funds 37,612
BBVA Compass 12,864
Dubuque Bank&Trust(zaber Escrow) 597,381
Total 19,553,023 21.26%
UNSPENT BOND PROCEED INVESTMENT ACCOUNTS:
DB&T Series 2011A 241,921
DB&T Series 2012B 1,488,896
DB&T Series 2012C 593,869
DB&T Series 2012D 605,675
DB&T Series 2012E 120,747
AT&S Series 2012F 380,766
DB&T Series 2012H 277,354
AT&S Series 2014B 2,985,118
AT&S Series 2014C 594,702
AT&S 2014 DMASWA 952,049
Fidelity Series 2015A 8,279,325
AT&S 2016 DMASWA 4,601,782
Fidelity Series 2016C 2,261,547
Total 23,383,751 25.42%
CERTIFICATES OF DEPOSIT:
AT&S 6,506,602
DB&T 1,091,646
DuTrac 8,000,005
FB&T 1,627,854
Total 17,226,107 18.73%
U.S.TREASURY OBLIGATIONS:
Debt Service Reserve Fund Required for Port Ramp 2,015,125
Total 2,015,125 2.19%
RESERVES:
Sales Tax Increment Rev Bond Reserve(series 2015A) 2,137,258
Water Debt Bond Reserve (2010D) 525,200
Total 2,662,458 2.89%
CORPORATE STOCK(Lyons Peony Trust): 11,514
Total 11,514 0.01%
TOTAL CITY MANAGED FUNDS 65,209,561 70.89%
Pali.+
City of Dubuque
Schedule of City Funds
As of
June 30 2017
PORTFOLIO TOTAL
COMPOSITION COST CITY FUNDS
FINANCIAL ADVISORS MANAGED FUNDS PERCENTAGE BASIS PERCENTAGE
DANA INVESTMENT ADVISORS,INC:
Cash and Equivalents 6.1% 356,514
US Treasury Obligations 0.0% 0
US Agencies 22.4% 1,318,806
Mortgaged Backed Securities 71.5% 4,203,910
Total 100.0% 5,879,230 6.39%
DUBUQUE BANK&TRUST:
Cash and Equivalents 14.2% 1,091,579
US Treasury Obligations 85.8% 6,613,778
US Agencies 0.0% 0
Mortgaged Backed Securities 0.0% 0
Unsettled Trades 0.0% 0
Total 100.0% 7,705,357 8.38%
FIRST COMMUNITY TRUST:
Cash and Equivalents 0.4% 25,798
US Treasury Obligations 0.0% 0
US Agencies 96.7% 5,944,211
Mortgaged Backed Securities 2.9% 178,842
Total 100.0% 6,148,852 6.68%
US BANK:
Cash and Equivalents 13.7% 966,027
US Treasury Obligations 0.0% 0
US Agencies 86.3% 6,083,153
Mortgaged Backed Securities 0.0% 0
Total 100.0% 7,049,180 7.66%
TOTAL FINANCIAL ADVISORS MANAGED FUNDS 26,782,619 29.11%
BREAKDOWN BY TYPE OF SECURITY:
Cash&Equivalents 9.1% 2,439,919
US Treasury Obligations 24.7% 6,613,778
US Agencies 49.8% 13,346,169
Mortgage Backed Securities 16.4% 4,382,753
Unsettled Trades 0.0% 0
Total 100.0% 26,782,619
TOTAL CITY FUNDS 91,992,180 100.00%
RECAP OF PORTFOLIO PERCENTAGES Managed Cit, Combined
CASH&EQUIVALENTS 2.85% 0.39% 304%
CHECKING/SAVINGS ACCTS 0.00% 40.57% 4057%
MORTGAGE BACKED SECURITIES 476% 0.00% 476%
CERTIFICATES OF DEPOSIT 0.00% 10.]3% 1873%
U S.TREASURY OBLIGATIONS 719% 2.19% 0.38%
FEDERAL AGENCIES 1451% 0.00% 1451%
OTHER 000% 0.01% 0.01%
Total 29.116 70.896 100.006
Pa9e2
CITY OF DUBUQUE
MONTHLY INVESTMENT SUM MARY Month Ending: 06/30/17
First Total
Community Managed Combined
Dana DB&T Trust US Bank Accounts City Finance Total
COST BASIS ANALYSIS
Cost Basis Prior Month 5,873,169 7,690,757 5,140,078 7,044,394 25,748,399 103,590,858 129,339,256
Additions:
Interest Earnings 12,285 15,040 11,121 10,020 48,466 88,289 136,756
Capital Addition 1,000,000 1,000,000 1,000,000
Realized Gains(Losses) (5,430) 2,046 (464) 0 (3,848) (3,848)
Total Additions 6,855 17,086 1,010,657 10,020 1,044,618 88,289 1,132,907
Subtractions:
Management Fees 0 (1,584) (1,073) (4,371) (7,029) (7,029)
Custodian Fees (794) (903) (809) (863) (3,369) (3,369)
Withdrawal 0 0 0 0 0 450 450
Total Subtractions (794) (2,487) (1,883) (5,234) (10,398) 450 (9,948)
Cost Basis Current Month 5,879,230 7,705,357 6,148,852 7,049,180 26,782,619 103,679,597 130,462,216
Net Cash Receipts&(Disbursements) (38,470,036) (38,470,036)
Ending Cost Basis Balance 5,879,230 7,705,357 6,148,852 7,049,180 26,782,619 65,209,561 91,992,180
MARKET VALUE ANALYSIS
Investment Market Value Prior Month(Adjusted forAccruals) 6,238,738 7,668,330 5,170,208 7,028,172 26,105,448 104,442,813 130,548,261
Investment Market Value Current Month 5,910,096 7,653,158 6,150,759 7,000,901 26,714,914 65,985,966 92,700,880
Accrued Interest Current Month 14,606 11,891 14,015 17,501 58,013 81,395 139,408
Market Value Adjusted for Accruals 5,924,702 7,665,049 6,164,773 7,018,403 26,772,927 66,067,361 92,840,288
Portfolio Returns(computed by westrneR Managers)
Monthly Return Gross of Fees 0.03% (0.10%) (0.09%) (0.07%)
Monthly Return Net of Fees 0.01% (0.40%) (0.13%) (0.15%)
Total Return Calendar Year to Date 2017 Gross 0.22% 0.60% 0.82% 0.87%
Effective Duration in Years 0.57 1.02 2.17 2.12
Market Inrlices
Average Last Calendar Last Last
Month Year to Date 12 Months 3 Years
BBgBarc US Trsy Bellwethers Won TR USD 0.09% 0.31% 0.50% 0.25%
BBgBarc US Govt 1-3 Yr TR USD .0.08% 0.48% .0.07% 0.71%
BBgBarc US Govt Intern TR USD .0.26% 1.20% .1.25% 1.47%
BBgBarc US Govt TR USD -0.16% 1.86% -2.18% 1.99%
Current Prime 4.25%
City of Dubuque
Schedule of Certificates of Deposit,Accrued Interest,High Yield Savings Accounts&Unspent Bond Proceeds
As of
June 30,2017
Certificates of De ojt:
Certificate s Cos[ Purchase Maturity Interest Days ro Accrued Accrued
Number Institution Baziz Dale Dale Rale MaturityDays Interest
53439321992 AT&S M 998,892 97/14/16 97/14/17 9760% 14 351 8,82589
125739 FB&T M 1,999,999 99/13/16 99/13/17 9765% 75 299 8,97888
5913396931/1 AT&S M 1,999,999 19/19/16 19/19/17 9850% 192 263 8,12488
5578314659/1 AT&S M 899,999 11/97/16 11/97/17 9750% 139 235 2,897 26
9 Dul C 1,999,999 99/39/17 99/29/17 1970% 91 6 -
52232918496 AT&S C 1,999,999 95/31/17 97/14/17 1.120% 14 39 92955
52232918497 AT&S C 1,999,999 95/31/17 97/28/17 1.170% 28 39 96164
52232918498 AT&S C 1,999,999 95/31/17 98/11/17 1.170% 42 39 96164
1 Dul C 1,999,999 98/95/17 99/91/17 1499% 63 25 95889
2 Dul C 1,999,999 99/05/17 12/22/17 1566% 175 25 1,92749
3 Dul C 1,999,999 99/05/17 91/05/18 1 550% 189 25 1,991 e4
4 Dul C 1,999,999 99/05/17 91/19/18 1 550% 293 25 1,991 e4
5 Dul C 1,999,999 99/05/17 92/92/18 1866% 217 25 1,99589
6 Dul C 1,999,999 99/05/17 92/19/18 1866% 231 25 1,99589
7 Dul C 1,999,999 99/05/17 93/92/18 1650% 245 25 1,139.14
8 Dul C 1,999,995 99/05/17 93/19/18 1466% 259 25 95891
125793 FB&T C 119,599 19/93/16 19/93/17 9799% 95 279 61878
128993 FB&T M 899,999 12/99/16 12/98/17 9750% 161 293 3,33699
54683730471 AT&S M 899,999 92/92/17 92/92/18 1940% 217 148 3,37359
Totals 17 226 197 49 289 49
Reserve Funds
Account Ending Face Value Accrued
Number Institution Ea Balance Interest Rate Interest Account CD Be Accrued mores[
2615A FB&T R 2,137258 1 24% 2195 81 BMASWA 5,166662 2843647
2616D FB&T R 525,299 979% 2,71953 CBY 12 119505 11,853.62
Totals 2,882,458 4,91534 17,226,107 46,28949
U.S.Treasu Bond (11,85392)
Account € Ending Face Value Accrued
Number Institution Balance Interest Rate Interest
2152-1478 LPL Financial C 2,792,788 336% 38,19928 Weighted Yield:1.222%
Totals 2 762 788 36 199 28 Weighted Maturity in Days:135.8
Unspent Bond Proceed Accounts:
Bondlssue I Institution Balance Month End In[erezC
2911A DB&T C 241,921 955% -
2612B DB&T C 1488,899 932% -
2612C DB&T C 593,899 929% -
2912D DB&T C 595675 929% -
2012E DB&T C 129,747 9.15% -
2612F AT&S C 389,788 939%
2912H DB&T C 277354 955%
29148 AT&S C 2,985,118 194%
2614C AT&S C 594,792 194%
DMASWA AT&S M 952,949 989% Institution %�otal Bond Balance
DMASWA AT&S M 4,891,782 1.15% BETAS 4669 9,514,41578
2615A FB&T C 8,279,325 988% - 14 23 3,328,46294
2616C FB&T C 2,261,547 995% 136eT 45.68 10546,87254
Totals 23,383,751 16666% 23,383,751
,cparvFUNDS dae-DUBUQUE M ETeoaouTBb saewsvuDwssre Aaemc pp useeve Fumos
'No accrued Interest for this month all Interest has been posted for the end Dryaar.
Manager/Custodian Annual Fees Computation
Fiscal YTD -Quarter Ending
June 30, 2017
Total Market Value Annual Fees
Investment Managers Managerial Fee Schedule (1) (2)
Dana 0.25% No Tiers $ 5,921,329 $ 14,803
5,924,702
14,803
Avg 0.25%
YTD Actual Fees $ 12,455
Dubuque Bank& Trust 0.25% No Tiers $ 7,665,049 $ 19,163
$ 19,163
Avg 0.25%
YTD Actual Fees $ 19,240
First Community Trust 0.25% No Tiers $ 6,164,773 $ 15,412
$ 15,412
Avg 0.25%
YTD Actual Fees $ 12,879
U.S.Bank 0.25% No Tiers $ 7,018,403 $ 17,546
$ 17,546
Avg 0.25%
YTD Actual Fees $ 19,149
Custodian fee Schedule
American Trust& Annual fee of$400 for each account plus... 32,694,256 $ 1,600
Savings Bank 0.2%on first$1,000,000 of assets for each account 8,000
0.15% on next$1,000,000 of assets for each account 6,000
0.10% on next$1,000,000 of assets for each account 4,000
0.05% on remaining assets for each account 10,347
$ 29,947
Avg 0.09%
YTD Actual Fees $ 27,734
Combined Avg Mgmt&Custodial 0.30%
Note:(1)Total market value includes accrued interest.
(2) Fees are listed on an annual basis.