Investment Report, June 30MEMORANDUM
July 24, 2002
TO:
FROM:
SUBJECT:
The Honorable Mayor and City Council Members
Michael C. Van Milligen, City Manager
June 30, 2002 Quarterly Investment Report
Finance Director Ken TeKippe is transmitting the June 30, 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
Pauline Joyce, Administrative Services Manager
CITY OF DUBUQUE, IOWA
MEMORANDUM
TO:
FROM:
RE:
DATE:
Michael Van Milligen, City Manager
Kenneth J. TeKippe, Finance Director
June 30, 2002 Ouarterly Investment Report
July 23, 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 April 1, 2002 through June 30, 2002.
The report includes: Cash Investments and Investment Earnings Summary
for quarter ended June 30, 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 (2 pages)
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/jg
Enclosures
CITY OF DUBUQUE
Cash, Investments and Investment Earnings Summary
For The Quarter Ended June 30, 2002 & Fiscal 2001-02 YTD
Description
Market Value / Unrealized
Carrying Including Gain (Loss) /
Value Accrued Interest Accrued Interest
Deposits, Change & Petty Cash Funds
Checking/Savings Accounts
Certi~catos Of Deposit
US Treastuy Secta'ities
Corporate Stock
Investment Advisor Accounts
TomlFunds
86,825 86,825 0
15,001,584 15,001,584 0
30,500,000 30,666,415 166,415
990,650 996,866 6,216
10,392 61,008 50,616
24,169,777 24,993,175 823,398
70,759,228 71,805,873 1,046,645
Breakdown
Metro
Total Combined Funds
61,737,755 62,730,784 993,029
9,021,473 9,075,088 53,616
70,759,228 71,805,873 1,046,645
Cash Basis
Gross Earnln~s:
Metro
Combined
Investment Fees:
Metro
Combined
Net Earnings:
c~
Metro
C~mmbined
Year-To-Date
2,662,174
264,669
2,926,843
39,894 156,468
215 623
40,109 157,091
590,204 2,505,706
43,412 264,047
633,616 2,769,752
CITY OF DUBUQUE
SCHEDULE OF CITY FUNDS
FOR MONTH ENDING JUNE 30, 2002
MANAGED FUNDS
PORTFOLIO
COMPOSITION
PERCENTAGE
COST
BASIS
TOTAL
CI1T FUNDS
PERCENTAGE
DANA INVESTMENT ADVISORS, liNC.:
Cash
Mutual Funds (US Government)
Certificates Of Deposit
US Treasury Obligations
Federal Agency Obligations
0.00% 0.00
2.21% 175,489.42
0.00% 0.00
0.00% 0.00
97.79% 7,775,572.2I
Total 100.00% 7,951,061.63 11.24%
DIfBUQLrE BANK & TRUST COMPANY:
Cash
Mutual Funds (US Government)
Certificates Of Deposit
US Treasury Obligations
Federal Agency Obligations
0.00% 0.00
10.21% 817,130.06
0.00% 0.00
0.00% 0.00
89.79% 7,184,746.17
Total 100.00% 8,001,876.23 11.31%
US BANK:
Cash
Mutual Funds (US Government)
Certificates Of Deposit
US Treasury Obligations
Federal Agency Obligations
Total
GRAND TOTAL
0.00% 0.00
7.67% 630,587.99
3.83% 314,796.20
13.52% 1,111,104.75
74.97% 6,160,350.03
100.00% 8,216,838.97 11.61%
24,169,776.83 34.16%
BREAKDOWN BY TYPE OF SECURITY:
Cash
Mutual Funds (US Government)
Certificates Of Deposit
US Treasury Obligations
Federal Agency Obligations
TOTAL MANAGED FUNDS
0.00% 0.00 0.00%
6.72% 1,623,207.47 2.29%
1.30% 314,796.20 0.44%
4.60% 1,111,104.75 1.57%
87.38% 21,120,668.41 29.85%
100.00% 24,169,776.83 34.16%
[ OT[[ER FUNDS ]
CASH
Change Funds and Petty Cash
NPA & Workers Comp Deposit
Total
CHECKING / SAVINGS ACCOUNTS:
American Trast & Sa~/mgs Bmflc (Gener~ Sweep Acco
American Trast & Savings Bank (America's River-Bond Proceeds)
American Trust & Savings Bank (America's Riwr-Vision Iowa)
American Trust & Savings Bank (Housing Rehab)
Dubuque Bank & Trast Co. (General~vletzo/Leisare Services)
US Barlk (GeneralJHcalth~lerdAmbulance/5 Flags)
Liberty (Utility)
Premier (Utility)
Total
CERTIFICATES OF DEPOSIT:
American Trust & Savings Bank
Dupaco Community Credit Union
Dubuque Bank & Trust Co.
East Dubuque Savings Bank
US Bank
Liberty Bank
Premier Bank
Total
U.S. TREASURY OBLIGATIONS
CORPORATE STOCK (Lyons Peony Tins0
TOTAL OTHER FUNDS
TOTAL CITY FUNDS
TOTAL
COST CITY FUNDS
BASIS PER CEgFTA GE
8,825.00
78,000.00
86,825.00 0.12%
608,I56.82
11,812,561.01
536.33
317,928.48
1,961,817.61
270,336.45
15,226.37
15,020.65
15,001,583.72 21.20%
1,000,000.00
0.00
0.00
7,000,000.00
4,500,000.00
15,000,000.00
3,000,000.00
30,500,000.00 43.10%
990,650.00 1.40%
10,392.26 0.01%
46,589,450.98 65.84%
70,759,227.81 100.00%
LRECAP OF PORTFOLIO PERCENTAGES
CASH
CHECKING / SAVINGS ACCTS
MUTUAL FUNDS (U.S. GOVERNMENT)
CERTIFICATES OF DEPOSIT
U.S. TREASURY OBLIGATIONS
FEDERAL AGENCY OBLIGATIONS
CORPORATE STOCK
MANA GED OTHER COMBINED
FUNDS FUNDS TOTAL
0.00% 0.12% 0.12%
0.00% 21.20% 21 ~20%
2.29% 0.00% 2.29%
0.44% 43.10% 43.55%
1.57% 1.40% 2.97%
29.85% 0.00% 29.85%
0.00% 0.01% 0.01%
Total 34.16% 65.84% 100.00%
COST BASIS ANAL YSIS
Cost Basis Prior Month
Additions:
Interest Earnings
Realized Gains (Losses)
Subtractions:
Management Fees
Custodian Fees
Bank Charges
Total Additions
TotalSub~acfions
Cost Basis Current Month
Net Cash Receipts & (Disbursements)
Ending Cost Basis Balance
CITY OF DUBUQUE
MONTHLY INVESTMENT SUMMARY
Month Ending: Jun-30-02
Managed Combined
Dana DB&T .US Bank Accounts City Finance Total
7,920,818.16 7,978,064.21 8,181,318.66 24,080,201,03 49,702,257.86 73,782,458.89
35,267.80 25,048.85 36,254.74 96,571.39 115,050.68 211,622.07
(4,369.22) (563.54) (67,81) (5,000.57) 0.00 (5,000.57)
30,898,58 24,485.31 36,186.93 91,570.82 115,050,68 206,621,50
0.00 0.00 0,00 0.00 0.00 0.00
(655,11) (673,29) (666.62) (1,995.02) 0.00 (1,995.02)
0.00 0.00 0.00 0.00 (3,87Z64) 0,872.64)
(655.11) (673.29) (666.62) (1,995.02) 0,872.64) (5,867.66)
7,951,061.63 8,001,876.23 8,216,838.97 24,169,776.83 49,813,435.90 73,983,212.73
0.00 0.00 0.00 0.00 0,223,984.92) 0,223,984.92)
7,951,06L63 8,001,876.23 8,216,838.97 24,169,776.83 46~589,450,98 70,759,227.81
CHANGE IN COST BASIS ADJUSTED
FOR ACCRUALS
Cost Basis Current Mouth
Plus: Accrued Interest Current Month
Less: Accrued Interest Prior Month
Co~t Basis Adjusted for Accruals
7,951,061.63 8,001,876.23 8,216,838.97 24,169,776.83 49,813,435.90 73.983,212.73
57,353.52 102,868.52 100,865.26 261,087.30 172,630.87 433,718.17
(53,701,95) (90,034,53) (113,080.36) (256,816.84) (162,152.94) (418,969,78)
7,954,713.20 8,014,710.22 8,204,623.87 24t174~047.29
49,823,913.83 73~997,961.12
Annnali~ed: Cttrrent Month 5.14% 5.51% 3.42% 4.6#% 2.94% 3.50%
Annualized: Prior Month 3.66% 7.11% 5.42% 5.40% 2.14% 3.15%
CITY OF' DUBUQUE
MONTHLY INVESTMENT SUMMARY
Month Ending: Jun-30-02
Managed Combined
Dana DB&T US Bank Accounts City Finance Total
MARKET VALUE ANALYSIS
Investment Market Value Prior Month
Investment Market Value Current Month
Accrued Interest Currant Month
Market Value Adjusted for Accruals
Net C~h Receipts & (Disbursements)
Ending Investment Market Value Adjusted
Market Value Percentage Change-Current
Market Value Percentage Change-Prior
7,976,271.00 8,449,019.41 8,411,925.80 24,837,216.21 49,922,187.10 74,759,403.31
7,939,096.17 8,429,791.99 8,363,199.83 24,732,087.99 49,864,051.45 74,596,139.44
57,353.52 102,868.52 100,865.26 261,087.30 172,630.87 433,718.17
7,996,449.69 8,532,660.51 8,464,065.09 24,993,175.29 50,036,682.32 75,029,857.61
0.00 0.00 0.00 0.00 0,223,984.92) 0,223,984.92)
7,996,449.69 8,532,660.51 8,464.065,09 24,993~ 175.29 46,8t2~697.40 , 71,805,872.69
0.2~% 0.99% 0.62% 0.63% (6.23~ (3.9~%)
0.36% 0.74% 0.47% 0.53% (1189%) (4.55%)
Market Indices
90 Day T-Bills
Lehman Aggregate Govt. Bonds
Lehman Short Term Govt. Bonds
Lehman Intermediate Govt, Bonds
Consumer Price Index
Currant Prime Rate*
Average Last Avelage L~t Calender
3 Months 12 Months Year to Date
0.45%
4.44%
2.52%
6.07%
0,80%
2.63%
8.81%
6.97%
9.25%
1.10%
0.89%
3.78%
2.54%
4.30%
1.20%
4.75%
*Rate as of 06-30-02
City of Dubuque
Schedule of U.S. Treasury Securities
As of June 30, 2002
Par Issue Maturity Cost
CUSIP No. Value Date Date Price Basis Yield
912795KY6 1,000,000.00 02/28/2002 08/29/2002 99.065 990,650.00 1.893%
Days to
Maturity
59
Accrued
Days
123
Interest
6,216.21
Totals
$1,000,000.00
$990,650.00
$6,216.21
Weighted Yield: 1.893%
WeightedMaturity:
59.00 Days
City of Dubuque
Schedule of Certificates of Deposit
As of June 30, 2002
Certificate Purchased Cost Purchase Maturity Last Interest Interest Days to Accrued
Number From Basis Date Date Payment Rate Maturity Days
113324 AT&S 1,000,000.00 06/29/01 06/29/02 12/28/01 4.010%
50865 Liberty(M) 1,000,000.00 09/19/01 09/19/02 03/19/02 3.470%
404630 Premier(M) 1,000,000.00 12/20/01 12/20/02 12/20/01 2.475%
348010524 US Bank 1,500,000.00 12/26/01 12/26/02 12/26/01 2.160%
51026 Liberty 1,000,000.00 01/04/02 07/05/02 01/04/02 1.770%
404663 Premier 1,000,000.00 01/10/02 07/11/02 01/10/02 1.830%
7437 EDSB 1,000,000.00 01/11/02 07/12/02 01/11/02 1.850%
51040 Liberty 500,000.00 01/23/02 07/24/02 01/23/02 1.870%
7536 EDSB(M) 1,000,000.00 01/31/02 08/01/02 01/31/02 1.850%
51046 Liberty 1,000,000.00 02/05/02 08/06/02 02/05/02 1.870%
51066 Liberty 1,000,000.00 02/19/02 08/20/02 02/19/02 1.870%
348011727 US Bank(M) 1,000,000.00 03/28/02 09/26/02 03/28/02 2.120%
348011889 US Bank(M) 1,000,000.00 04/09/02 04/09/03 04/09/02 2.610%
51155 Liberty 1,000,000.00 04/16/02 10/15/02 04/16/02 2.270%
348011976 US Bank 1,000,000.00 04/16/02 09/19/02 04/16/02 1.920%
7985 EDSB 1,000,000.00 04/17/02 10/23/02 04/17/02 2.150%
51168 Liber~ 1,000,000.00 04/22/02 09/26/02 04/22/02 2.170%
51169 Liber~ 1,000,000.00 04/22/02 10/30/02 04/22/02 2.170%
8037 EDSB (M) t,000,000.00 04/23/02 10/22/02 04/23/02 2.140%
51175 Liberty (M) t,500,000.00 04/26/02 10/25/02 04/26/02 2.070%
51212 Liber~ t,000,000.00 05/17/02 11/15/02 05/17/02 2.320%
404997 Premier (M) t,000,000.00 05/24/02 11/22/02 05/24/02 2.330%
8311 EDSB t,000,000.00 05/28/02 11/26/02 05/28/02 2.060%
8313 EDSB 1,000,000.00 05/29/02 11/27/02 05/29/02 2.060%
51228 Liberty 1,000,000.00 05/31/02 11/29/02 05/31/02 2.070%
51271 Liberty 1,000,000.00 06/14/02 12/13/02 06/14~)2 2.170%
51294 Liberty 1,000,000.00 06/21/02 12/20/02 06/21/02 2.270%
51296 Liberty 1,000,000.00 06/21/02 06/23/03 06/21/02 2.870%
51298 Liberty 1,000,000.00 06/25/02 06/28/03 06/25/02 2.370%
8418 EDSB 1,000,000.00 06/26/02 12/26/02 06/26/02 2.100%
Totals
$30,500,000.00
Weighted Yield:
2.244%
Weighted Maturity.~
(1)
81
173
179
5
11
12
24
32
37
51
88
283
107
81
115
88
1t4
117
138
150
166
173
358
363
179
125.51
184
103
192
186
177
171
170
158
150
145
131
94
82
75
75
74
69
69
68
65
44
37
33
32
3O
16
9
9
5
4
Days
Accrued
Interest
20,214.79
9,792.05
13,019.18
16,510.68
8,583.29
8,573.42
8,616.44
4,047.40
7,602.74
7,428.77
6,711.51
5,459.73
5,863.56
4,664.38
3,945.21
4,358.90
4,102.19
4,102.19
3,986.85
5,529.45
2,796.71
2,361.92
1,862.47
1,806~03
1,701.37
951.23
559.73
707.67
324.66
230.14
$166,414,66
Page
Ciiy of Dubuque
Schedule of Certificates of Deposit
As of June 30, 2002
Certificate Purchased Interest Compounded
Number From Rate Yield Interest Terms
113324 A~T.&S. 4.0t% 4.010%
50865 Metro Liberty 3.47% 3.470%
404630 Metro Premier 2.48% 2,475%
348010524 US Bank 2.16% 2.160%
51026 Liber/y 1.77% 1,770%
404663 Premier 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% t.870%
51066 Liberty 1.87% 1.870%
348011727 Metro US Bank 2.12% 2.120%
348011889 Metro US Bank 2.61% 2.610%
51155 Liberty 2,27% 2,270%
348011976 US Bank 1,92% 1,920%
7985 EDSB 2,15% 2.150%
51168 Liberty 2.17% 2.t70%
51169 Liberty 2,17% 2.170%
8037 Metro EDSB 2,14% 2.140%
51175 Metro Liberty 2.07% 2.070%
51212 Liber~ 2.32% 2.320%
404997 Metro Premier 2.33% 2.330%
8311 EDSB 2.06% 2,060%
8313 EDSB 2,06% 2,060%
51228 Liberiy 2,07% 2.070%
51271 Liberty 2.17% 2, t70%
51294 Liberty 2.27% 2.270%
51296 Liberty 2.87% 2.870%
51298 Liberty 2.37% 2.370%
8418 EDSB 2.10% 2,100%
Earnings paid semi-annually by check.
Earnings paid semi-annually by check,
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,
Earffmgs 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,
Earffmgs 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 paid semi-annually by check.
Earnings credited at maturity,
Page 2