Quarterly Investment ReportTHE CITY OF Dubuque
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DLTB E AII-NnerlcaCilY
Masterpiece on the Mississippi
2007
TO: The Honorable Mayor and City Council Members
FROM: Michael C. Van Milligen, City Manager
SUBJECT: December 31, 2008 Quarterly Investment Report
DATE: January 26, 2009
Finance Director Ken TeKippe is transmitting the December 31, 2008 Quarterly
Investment Report.
f/
Michae C. Van illigen
MCVM/jh
Attachment
cc: Barry Lindahl, City Attorney
Cindy Steinhauser, Assistant City Manager
Kenneth J. TeKippe, Finance Director
THE CTTY OF
DAB E
Masterpiece on the Mississippi
Dubuque
M-AmedcaCity
zoa~
TO: Michael C. Van Milligen, City Manager ~-
FROM: Kenneth J. TeKippe, Finance Director
RE: December 31, 2008 Quarterly Investment Report
DATE: January 22, 2009
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 October 1, 2008 through December 31, 2008.
The report includes: Cash Investments and Investment Earnings Summary
for quarter ended December 31, 2008 and fiscal year to date
Schedule of City Funds (3 pages)
Monthly Investment Summary
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.
KT~g
Enclosures
CITY OF DUBUQUE
Cash, Investments and Investment Eamings Summary
For The Quarter Ended December 31, 2008 & Fiscal 2009 YTD
Market Value / Unrealized
Canying Including Gain (Loss) /
Description Value Accrued Interest Accrued Interest
Deposits, Change & Petty Cash Funds
Checking/Savings Accounts
Certificates Of Deposit
US Treasury Securities
Corporate Stock
Investment Advisor Accounts
Total Funds
Breakdown
City
Metro
Total Combined Funds
Cash Basis
Gross Eamings:
City
Metro
Combined
Investment Fees:
City
Metro
Combined
Net Earnings:
City
Metro
Combined
96, 312 96, 312 -
18, 777, 337 18, 777, 337 -
30, 000, 000 30, 261, 814 261, 814
2, 015,125 2, 863,130 848, 005
11, 514 64, 492 52, 978
25, 034, 355 25, 478,124 443, 769
• 75, 934, 643 77, 541, 209 1, 606, 566
64, 655,185 66,157, 373 1, 502,188
11, 279, 458 11, 383, 836 104, 378
75, 934, 643 77, 541, 209 1, 606, 566
Quarter Year-To-Date
714,573
129, 731 1,404,007
241,407
844, 304 1, 645, 414
(34, 843)
188 (69, 545}
314
35, 031 69, 859
679,730
129, 543 1, 334,462
241, 093
809, 273 1, 575, 555
MANAGED FUNDS
DANA INVESTMENT ADVISORS, INC:
Cash and Equivalents
US Treasury Obligations
US Agencies
Mortgaged Backed Securities
Municipal Bonds
DUBUQUE BANK 8~ TRUST:
Cash and Equivalents
US Treasury Obligations
US Agencies
Mortgaged Backed Securities
Municipal Bonds
Mutual Funds
FIRST COMMUNITY TRUST:
Cash and Equivalents
US Treasury Obligations
US Agencies
Mortgaged Backed Securities
Municipal Bonds
US BANK:
Cash and Equivalents
US Treasury Obligations
US Agencies
Mortgaged Backed Securities
Municipal Bonds
BREAKDOWN BY TYPE OF SECURITY:
CITY OF DUBUQUE
SCHEDULE OF CITY FUNDS
December 31, 2008
PORTFOLIO
COMPOSITION
PERCENTAGE
3.6%
0.0%
96.4%
0.0%
0.0%
TOTAL
COST CITY FUNDS
BASIS PERCENTAGE
227,173
6,100,174
Total 100.0% 6,327,347 8.3%
3.7% 297,148
4.0% 316,364
18.3% 1,454,912
56.4% 4,486,086
0.0%
17.6% 1,400,850
Total 100.0% 7,955,360 10.5%
14.9% 451,211
0.0%
33.3% 1,010,772
51.8% 1,571,864
0.0%
Total 100.0% 3,033,847 4.0%
23.5% 1,812,819
2.6% 200,782
37.7% 2, 908, 502
36.2% 2,795,698
0.0%
Total 100.0% 7,717,801 10.2%
GRAND TOTAL 25,034,355 33.0%
Cash 11.1% 2,788,351 3.7%
Municipal Bonds 0.0% 0.0%
Mortgage Backed Securities 35.4% 8,853,648 11.7%
Mutual Funds 5.6% 1,400,850 1.8%
US Treasury Obligations 2.1% 517,146 0.7%
US Agency Obligations 45.8% 11,474,360 15.1%
TOTAL MANAGED FUNDS 100.0% 25,034,355 33.0%
Page'I
CITY OF DUBUQUE
SCHEDULE OF CITY FUNDS
December 31, 2008
TOTAL
COST CITY FUNDS
OTHER FUNDS BASIS PERCENTAGE
CASH
Change and Petty Cash Funds 11,312
Prescriptions & Workers Comp Deposits 85,000
Total 96, 312 0.1
CHECKING /SAVINGS ACCOUNTS:
American Trust & Savings Bank (General a Health) 272,366
American Trust & Savings Bank (Housing Rehab s, seotfon s) 284,825
Dubuque Bank & Trust (GeneraVMetro/Leisure) 2,472,945
Dubuque Bank & Trust (commu~nd Bidg Rehab ~ Econ oev) 89,681
DUbUque Bank & TfUSt (Cable Franchise Equipment Fund) 247,780
US Bank (GeneraVAmbulance) 12,624
Premier (unity)
11,006 .
Liberty (utirty) 10,943
East Dubuque Savings Bank (utirty) 16,750
State Central (unnty) 3,705
Total 3,422,624 4.5%
BOND PROCEEDS:
US Bank (Sanitary Sewer Bond Proceeds) 403, 383
DB&T GO Stormwater Series 2008A 1,665,417
DB&T GO Urban Renewal Series 20086 3,223,027
DB&T GO Urban Renewal Series 2008C 745,110
DB&T Water Rev Bond Series 2008D 754,880
Total 6, 791, 818 8.9%
CERTIFICATES OF DEPOSIT:
American Trust & Savings Bank 12,000,000
Dubuque Bank & Trust 6,700,000
East Dubuque Savings Bank 3,000,000
Liberty Bank 5,000,000
Premier Bank ~ 300,000
State Central 2,000,000
US Bank 1,000,000
Total 30, 000, 000 39.5%
PORT OF DUBUQUE PARKING RAMP
Capitalized Interest Fund EDSB (Bond Prooeeds) ~o2s 2,017,156 2.7%
Project Construction Fund US Bank (Bond Proceeds) ~o2s 5,819,094 7.7%
North Fagade EDSB (Bond Prooeeds) Soso _ 726,645 1.0%
Debt Service Reserve u.s. Treasury obligations (Bond Proceeds) 2,015,125 2.7%
Total 10, 578, 020 13.9%
CORPORATE STOCK (Lyons Peony Trust) 11,514 0.0%
TOTAL OTHER FUNDS 50,900,288 67.0%
TOTAL CITY FUNDS 75,934,643 100.0%
Page 2
CITY OF DUBUQUE
SCHEDULE OF CITY FUNDS
December 31, 2008
RECAP OF PORTFOLIO PERCENTAGES Managed City Combined
CASH 3.7% 0.13% 3.80%
CHECKING /SAVINGS ACCTS 0.0% 24.73% 24.73%
MUNICIPAL BONDS ' 0.0% 0.00% 0.00%
MUTUAL FUNDS (U. S. GOVERNMENT) 1.8% 0.00% 1.84%
MORTGAGE BACKED SECURITIES 11.7% 0.00% 11.66%
CERTIFICATES OF DEPOSIT 0.0% 39.51% 39.51%
U.S. TREASURY OBLIGATIONS 0.7% 2.65% 3.33%
FEDERAL AGENCY OBLIGATIONS 15.1.% 0.00% 15.11%
CORPORATE STOCK 0.0% 0.02% 0.02%
Total 33.0% 67.0% 100.0°k
Page 3
COST BASIS ANALYSIS
Cost Basis Prior Month
Additions:
Interest Earnings
Realized Gains (Losses)
Capital Deposits
Total Additions
Subtractions:
Management Fees
Custodian Fees
Bank Charges
Capital Withdrawals
Total Subtractions
Cost Basis Current Month
Net Cash Receipts & (Disbursements)
Ending Cost Basis Balance
MARKET VALUE ANALYSIS
Investment Market Value Prior Month tndiuarea ror Accruo~s)
Investment Market Value Current Month
Accrued Interest Current Month
Market Value Adjusted for Accruals
Portfolio Returns** (computed by Investment Managers)
Monthly Return
Total Return Calendar Year 2008
Market Indices
90 Day T-Bills
Lehman Aggregate Govt. Bonds
Lehman Short Term Govt. Bonds
Lehman Intermediate Govt. Bonds
Consumer Price Index*
Current Prime Rate
CITY OF DUBUQUE
MONTHLY INVESTMENT SUMMARY
First
Community
Dana DB&T Trust US Bank
Month Ending: 12/31/08
Managed Combined
Accounts Citv Finance Total
6,302,288.83 7,906,662.98 3,023,761.80 7,703,151.29 24,935,864.90 57,821,763.84 82,757,628.74
26,139.94 36,508.53 10,655.11 15,307.07 88,610.65 142,357.92 230,968.57
(499.33) 15,818.76 (117.85) (8.55) 15,193.03 15,193.03
0.00 0.00
25,640.61
52,327.29
10,537.26
15,298.52
103,803.68
142,357.92 _
246,161.60
(2,973.06) (2,973.06) (2,973.06)
(582.82) (656.86) (451.92) (649.29) (2,340.89) (2,340.89)
(337.76) (337.76)
0.00 0.00
(582.82) (3,629.92) (451.92) (649.29) (5,313.95) (337.76) (5,651.71)
6,327,346.62 7,955,360.35 3,033,847.14 7,717,800.52 25,034,354.63 57,963,784.00 82,998,138.63
(7,063,495.73) (7,063,495:73)
6,327,346.62 7,955,360.35 3,033,847.14 7,717,800.52 25,034,354.63 50,900,288.27 75,934,642.90
6,219,212.73 8,006,401.87 3,086,111.82 7,837,701.89 25,149,428.31 58,601,933.72 83,751,362.03
6,212,178.39 8,191,379.54 3,063,479.90 7,827,526.18 25,294,564.01 51,765,147.53 77,059,711.54
31,381.15 46,879.47 41,659.07 63,639.64 183,559.33 297,937.86 481,497.19
6,243,559.54
8,238,259.01
3,105,138.97
7,891,165.82
25,478,123.34
52,063,085.39 _
77,541,208.73
0.40% 2.94% 0.65% 0.69%
3.75% 7.78% 5.29% 6.22%
Average Last Average Last Calendar
3 Months 12 Months Year to Date
0.22% 2.06% 2.06%
8.05% 12.39% 12.39%
3.04% 6.66% 6.66%
6.16% 10.43% 10.43%
(2.63%) 0.65% 0.65%
3.25%
Rare as or: ~~au-ua
""'Returns prior to fees
r
City of Dubuque
Schedule of Certificates of Deposit
As of
December 31, 2008
Certificate Cost Purchase Maturity Interest Days to Accrued Accrued
Number Institution Basis Date Date Rate Maturity Days Interest
15569 State Central M 1,000,000 06/12/08 01/08/09 3.151% 8 202 17,438.41
512770 DB&T 1,000,000 10/16/08 01/15/09 2.790% 15 76 5,809.32
124100 AT&S 1,000,000 07/31/08 01/29/09 3.320% 29 153 13,916.71
Premier M 300,000 11/06/08 02/05/09 1.800% 36 55 813.70
511797 DB&T M 700,000 06/25/08 02/05/09 3.240% 36 189 11,743.89
123987 AT&S 1,000,000 08/05/08 02/12/09 3.120% 43 148 12,650.96
124303 AT&S 1,000,000 11/18/08 02/18/09 1.760% 49 43 2,073.42
20664 EDSB M 1,000,000 08/07/08 02/19/09 3.184% 50 146 12,736.00
124134 AT&S 1, 000, 000 08/21 /08 02/26/09 3.290% 57 132 11, 898.08
123082 AT&S 1,000,000 09!03/08 03/04/09 3.270% 63 119 10,661.10
511804 DB&T M 1,000,000 07/10/08 03/05/09 3.310% 64 174 15,779.18
21102 EDSB 1,000,000 09/11/08 03/12/09 3.084% 71 111 9,378.74
US Bank M 1,000,000 09/18/08 03/19/09 3.092% 78 104 8,810.08
512773 DB&T 1,000,000 10/23/08 03/26/09 3.300% 85 69 6,238.36
20978 EDSB M 1,000,000 09/04/08 04/02/09 3.254% 92 118 10,519.78
222453 Liberty 1,000,000 10/15/08 04/16/09 3.345% 106 77 7,056.58
124213 AT&S 1,000,000 10/21/08 04/22/09 3.360% 112 71 6,535.89
222562 Liberty M 1,000,000 10/16/08 04/23/09 3.565% 113 76 7,423.01
124453 AT&S 1,000,000 10/28/08 04/29!09 3.430% 119 64 6,014.25
124189 AT&S M 1,000,000 10/02/08 04/30/09 3.570% 120 90 8,802.74
124211 AT&S 1,000,000 10/17/08 05/07/09 3.620% 127 75 7,438.36
222565 Liberty 1,000,000 10/16/08 05/14/09 3.585% 134 76 7,464.66
124210 AT&S ,1,000,000 10/17/08 05/21/09 3.620% 141 75 7,438.36
511822 DB&T M 1,000,000 10/30/08 05/28/09 3.301% 148 62 5,607.18
511819 DB&T 1,000,000 09/18/08 05/29/09 3.190% 149 104 9,089.32
5000114 Liberty 1,000,000 09/24/08 05/29/09 3.485% 149 98 9,356.99
220944 Liberty 1,000,000 09/25/08 05/29/09 3.805% 149 97 10,111.92
511810 DB&T 1,000,000 08/28/08 06/01/09 3.360% 152 125 11,506.85
17156 State Central M 1,000,000 12/11/08 06/10/09 2.561% 161 20 1,403.29
125223 AT&S M 1,000,000 11/13/08 06/11/09 2.510% 162 48 3,300.82
125881 AT&S 1,000,000 11/19/08 07/01/09 2.430% 182 42 2,796.16
Totals 30, 000, 000 261, 814.11
Acrued Interest Distribution
DMASWA 104,378.08
General 157,436.03
Weighted Yield: 3.182% 261,814.11
Wei ghted Matur ity in Days: 98.80
(M) =DUBUQUE METROPOLITAN AREA SOLID WASTE AGENCY