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Qtrly Invest Report 12 31 02MEMORANDUM January 14,2003 TO:The Honorable Mayor and City Council Members FROM:Michael C. Van Milligen, City Manager SUBJECT:December 31, 2002 Quarterly Investment Report Finance Director Ken TeKippe is transmitting the December 31, 2002 Quarterly Investment Report. MCVM/jh Attachment cc: Barry Lindahl, Corporation Counsel Cindy Steinhauser, Assistant City Manager Kenneth J. TeKippe, Finance Director CITY OF DUBUQUE, IOWA MEMORANDUM TO:Michael Van Milligen, City Manager FROM:Kenneth J. TeKippe, Finance Director RE:December 31, 2002 Quarterly Investment Report DATE:January 14, 2003 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 September 1, 2002 through December 31, 2002. The report includes: Cash Investments and Investment Earnings Summary for quarter ended December 31, 2002 and fiscal year to date Schedule of City Funds (2 pages) Monthly Investment Summary (2 pages) 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 December 31, 2002 & Fiscal 2002-03 YTD Deposits, Change & Petty Cash Funds Checking/Savings Accounts Certificates Of Deposit US Treasury Securities Corporate Stock Investment Advisor Accounts Total lhmds Market Value / Unrealized Carrying Including Gain (Loss) / Value Accrued Interest Accrued Interest 89,025 89,025 0 19,702,450 19,702,450 0 26,500,000 26,583,431 83,431 0 0 0 10,391 57,808 47,417 23,788,294 24,839,935 1,051,642 70,090,159 71,272,649 1,182,490 Breakdown City 60,510,417 61,655,473 Metro 9, 579,742 9,617,175 Total Combined Funds 70,090,159 71,272,649 1,145,056 37,434 1,182,490 Cash Basis Gross Earnln ~s: C~ty Metro Combined Investment Fees: city Metro Combined Net Earnings: c~ Metro Combined quarter I Year-To-Date I 1 482,5471 980,597 63,3011 115,515 545,8481 1,096,112 38 83' 173 39,01 443,710 63,t28 506,839 76,204 290 76,495 904,392 ,115,225 1,019,617 City of Dubuque Schedule of Certificates of Deposit As of December 31, 2002 Certificate Number 348011889 51296 51298 8437 8454 8468 51450 36063 338027239 349001304 349001354 8867 8872 8876 51560 505586 405373 51634 349001518 362014838 51705 51706 51720 51721 51729 Totals Purchased Cost Purchase Maturity Lost lutesest Iuterest Days to Accrued From Basis Date Date Pa~ment Rate Moturit~ Days US Bank(M) Liberty Liberty EDSB EDSB (M) EDSB Liborty (M) Dupaco (M) US Bank US Bank US Ban~ (M) EDSB EDSB r~DSB (ivo Liberty DB&T Premier Liber~ (M) US Bank US Bank Liberty L~erty (M) Liberty L~erty Liberty 1,000,000.00 04/09/02 04/09/03 10/09/02 2.610% I,OOO,O00.OO 06/21/02 06/23/03 12/23/02 2.870% 1,000,000.00 06/25/02 06/28/03 12/26/02 2.370% 1,000,000.00 07/05/02 01/03/03 07/05/02 2.100% 1,000,000.00 07/I 1/02 01/10/03 07/11/02 2.050% 1,O00,OOO.O0 07/12/02 0t/21/03 07/12/02 2.050% I,O00,OO0.O0 09/19/02 03/27/03 09/19/02 1.970% 1,000,000.00 09/26/02 04/03/03 09/26/02 1.590% 1,000,000.00 10/15/02 04/16/03 10/15/02 1.710% 1,500,000.00 10/16/02 05/01/03 10/16/02 1.730% 1,500,OOO.O0 10/22/02 06/05/03 10/22/02 1.800% 1,O00,OOO.O0 10/23/02 04/24/03 10/23/02 1.750% 1,O00,OO0.O0 10/24/02 05/22/03 10/24/02 1.810% 1,500,000.00 10/25/02 06/25/03 10/25/02 1.800% 1,000,000.00 10/30/02 02/20/03 10/30/02 1.870% 1,O00,OOO.O0 11/15/02 03/20/03 11/15/02 1.330% 1,000,000.00 11/19/02 04/10/03 11/19/02 1.360% 1,000,000.00 11/22/02 05/22/03 11/22/02 L370% 1,000,000.00 11/26/02 05/30/03 11 f26/02 1.370% 1,000,000.00 12/13/02 07/01/03 12/13/02 1.300% 1,O00,OOO.O0 12/20/02 06/12/03 12/20/02 1.370% 1,000,000.00 12/20/02 07/09/03 12/20/02 1.470% 1,000,000.00 12/26/02 07/10/03 12/26/02 1.470% I,O00,OOO.O0 12/26/02 12/11/03 12/26/02 1.770% 1,000,000.00 12/27/02 11/26/03 12/27/02 1.500% $26,5OO,O00.00 Weighted YleM: 1.776% Wcighted Maturity: Accrued Interest 99 83 5,935.07 174 8 629.04 179 5 324.66 3 179 10,298.63 10 173 9,716.44 21 172 9,660.27 86 103 5,559.18 93 96 4,181.92 106 77 3,607.40 121 76 5,403.29 156 70 5,178.08 114 69 3,308.22 142 68 3,372.05 176 67 4,956.16 51 62 3,176.44 79 46 1,676.16 100 42 1,564,93 142 39 1,463.84 150 35 1,313.70 182 18 641.10 163 11 412.88 190 11 443.01 191 5 201.37 345 5 242.47 330 4 164.38 136.96 Days $83,430.69 ]Certificate Descrlj~tlons ] Certificate Purchased Interest Compounded Number From Rate Yield 348011889 Metro US Bank 2.61% 2,610% 51296 Libe~ 2,87% 2.870% 51298 Libexty 2.37% 2.370% 8437 EDSB 2.10% 2.100% 8454 Metro EDSB 2.05% 2.050% 8468 EDSB 2,05% 2.050% 51450 Metro Lib~ty 1,97% 1.970% 36063 Metro Dupaco 1.59% 1,590% 338027239 US Bank 1.71% 1.710% 349001304 US Bank 1.73% 1,730% 349001354 Metro US Bank 1.80% 1,800% 8867 EDSB 1.75% 1.750% 8872 EDSB 1.81% 1.810% 8876 Metro EDSB 1.80% 1.800% 51560 Liberty 1.87% 1.870% 505586 DB&T 1.33% 1.330% 405373 Premier 1.36% 1.360% 51634 Metro Libor~ 1.37% 1,370% 349001518 US Bank 1.37% 1.370% 362014838 US Bank 1.30% 1.300% 51705 Liberty 1,37% 1.370% 51706 Metro Liberty 1.47% 1.470% 51720 Lib~-~y 1,47% 1.470% 51721 Liberty 1,77% 1.770% 51729 L~erty 1,50% 1.500% Earnings paid semi.annually by check. Earnings paid seafi-am~ually by check. Earnings paid semi.annually by cheek. Earnings oeedited 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 cred/tud at maturity, Earnings credited at maturity. Earnings credited at maturity. Earnings ecedited at maturity. Earnings credited at maturity. Earnings credited at maturity. Earnings credited at maturity. Earnings paid semi.annually by cheek, Earnings paid semi.annually by chock. COST BASIS ANALYSIS Cost Basis Prior Month Additions: Intarest Earnings Realized Gains (Losses) Capital Deposits Cost Basis Current Month Net Cash Receipts & (Disbursements) Ending Cost Basis Balance Total Additions Total Subtractions CITY OF DUBUQUE MONTHLY INVESTMENT SUMMARY Month Ending: Dec-31-02 First Community Managed Combined Da~a DB&T Trust US Bank Accounts Cit~ Finance Total 6,157,303.04 7,177,470,42 2,996,967,34 7,377,461.70 23,709,202.50 37,769,939.65 61,479,142,15 27,820.78 22,361.01 8,863.80 38,312.52 97,358.11 126,640.11 223,998.22 (5,439.76) (6,495.12) (4,416.05) (98.96) (16,449.89) 0.00 (16,449.89) 0.00 0.00 0.00 493.15 493.15 0.00 493.15 22,381.02 15,865.89 4,447.75 38,706.71 81,40137 126,640.11 208,041,48 0,00 0.00 0.00 0.00 0.00 0.00 0.00 (580.24) (645.45) (~49.46) (635.05) (2,310.20) 0.00 (2,310.20) 0.00 0.00 0.00 0.00 0.00 (1,965.3t) (1,965.31) o.oo o.oo o.oo o,oo o,oo o.oo 0,o0 (580.24) (645.45) (449.46) (635.05) (2,3t0.20) (1,965.31) (4,275.51) 6,179,103.82 7,192,690.86 3,000,965,63 7,415,533,36 23,788,293,67 37,894,614.45 61,682,908,12 0.00 0.00 0.00 0,00 0.00 8,407,250.82 8,407,250.82 6~179~103.82 7~192,690,86 3~000,965.63 7~415,533.36 23,788(293,67 4613011865.27 , 701090~1~8.94 CHA~GE IN CO~T BASIS ~DJ~/$TED FOR ACCRI]~41~ Cost Basis Current Month P/us: Accrued Interest Current Month Less: Accrued Inta~est Prior Month Cost Basis Adjusted for Accruals 6,179,103.82 7,192,690.86 3,000,965.63 7,415,533.36 23,788,293.67 37,894,614.45 6t,682,908.12 41,553.33 84,891.34 16,460.26 71,226.51 214,131.44 83,430.69 297,562.13 (42,889.14) (72,372.56) (16,191.0l) (84,974.15) (216,426.86) (144,340.84) (360,767.70) 6ti 77~768,01 7~205~.~9.64 ~1001~234.88 7t40 t~785.72 23?7851998.25 37r833t704'30 611619~702'55 Page 1 MARKET E4LUEANAL Investment Market Value Prior Month Investment Market Value Current Month Accru~ lntere~ Current Month Market Value Adjusted lot Accruals Net Cash Receipts & (Disbursements) Ending Investment Market Value Adjusted Portfolio Retarns Monthly Return To~al Return Calendar Year tu Datu 2002 CITY OF DUBUQUE MONTHLY INVESTMENT SUMMARY Month Ending: Dec-31-02 6~218~841.33 , 7,763,236.80 3~009~656.52 6,198,984.84 7,789,340.52 3,013,832.69 41,553.33 84,891.34 16,460.26 6,240,538.17 7,874;231.86 3,030,292.95 0.00 0.00 0.00 7~626~199.90 24~617~934.55 7,623,645173 24,625,803.78 71,226.51 214,131.44 7,694,872.24 24,839,935.22 0.00 0.00 37~965~416.84 62~583~351.39 37,942,031,94 62,567,835.72 83,430.69 297.562.13 38,025,462.63 62,865,397.85 8,407,250.82 8,407,250.82 6.240~538.17 71874~231.86 3~030.292.95 7~694~872.24 24~839~935.22 46,432~713.45 71~272t648.67 Markqt Ind~ees Avorage Las~ Avorago Last Calendar 3 Months 12 Mon~ Year to Datu 90 Day T-Bills Lehman Aggregate Govt. Bonds Lehman Short Term Govt. Bond~ Lehman Intarmodiato Govt. Bonds Consumer Price Indax Current Primo Rate* 0.39%] 1.70%[ 1.70%] 0.72%[ il.50%l 11.50%] 0.93%I 6.01%I 6.0 °/oI 0.97% 9.64% 9.64%] 2,32% 2,32% 0.60% 4.25% *Rate as of 12-31-02 Page 2 CITY OF DUBUQUE SCHEDULE OF CITY FUNDS FOR MONTH ENDING DECEMBER 31, 2002 MANAGED FUNDS DANA INVESTMENT ADVISORS, INC.: Cash Mutual Funds (US Certificates Of Dcposit US Treasury Obligatiuns Federal Agency Obligations DUBUQUE BANK & TRUST COMPANY: Cash Mutual Funds (US Govea'nment) Certificates Of Deposit LIS Trcasu~ Obligations Federal Agency Obligations FIRST COMMUNITY TRUST: Cash Mutual Funds (US Govcenment) Certificates Of Deposit US Treasury Obligations Federal Agency Obligatiuns US BANK: Cash Mutual Funds (US Govemm~) Certificates Of Deposit US Treasury Obligations Federal Agency Obligations Total Total Total Total GRAND TOTAL PORTFOLIO COMPOSITION PERCENTAGE 0.00% 0.77% 0.00% 0.00% 99.23% TOTAL COST CITYFUNDS BASIS PERCENTAGE 100.00% 0.00 47,642.32 0.00 0.00 6,131,461.50 0.00% 10.11% 0.00°,/o 0.00% 89.89% 100.00% 6,179,103.82 8.82% 10.26% 0.00 727,188.07 0.00 0.00 6,465,502.79 7,192,690.86 0.00% 0.00 4.74% 142,148.03 0.00% 0.00 0.OO% 0.00 95.26% 2,858,817.60 100.00% 3,000,965.63 4.28% 0.00% 0.00 3.61% 267,422.10 4.25% 314,796.20 9.59% 710,976.56 82.56°/o 6,122,338.50 100.00% 7,415,533.36 10.58% 23,788~293.67 33.94% BREAKDOWN BY TYPE OF SECURITY: Cash Mutual Funds (US Government) Certificates Of Deposit US Treasury ObF~ations Federal Agency Obligmions TOTAL MANAGED FUNDS 0.00% 0.00 0.00% 4.98% 1,184,400.52 1.69O/O 1.32% 314,796.20 0.45% 2.99% 710,976.56 1.01% 90.71% 21,578,120.39 30.790/0 100.00% 23,788,2,93.67 33.94% Page I CITY OF DUBUQUE SCHEDULE OF CITY FUNDS FOR MONTH ENDING DECEMBER 31, 2002 FUNDS CASH Change Funds and Pe~ty Cash NPA & Workers Comp Deposit Total COST BA~IS 9,025.00 80,000.00 89,025,00 TOTAL CITY FLrNDS PERCENTAGE 0.13% cHECKING/ SAVINGS ACCOUNTS: Americ~ Trust & Savings Bank (C~a~ral Sweep Acer) American Trust & Savings Bank (Ame~ca's myer-Bond Pr~eds) American Trust & Savings Bank (America's Riwr-Vision Iowa) American Trust & Savings Bank (Housiag Dubuque Bank & Trust (C~a~ral/M et xo/L eisur¢ Services) Dubuque Bank & Trust (Water Tower/Water Main-Bond proceeds) US Bank Liber~ Cota~ty) Premier 0Jti~) 4,345,037.45 6,024,731.71 4,600,000.72 419,547.38 1,606,149.45 2,4t7,622.22 269,732.01 11,093.18 8,535.44 19,702,449.56 28.11% CERTIFICATES OF DEPOSIT: ~ Trust & Savings Bank Dupaeo Co~i,anity Ca. it Union Dubuque Bank & Trust Co. East Dubuque Savings Bank US Bank Premier Bank Total 0.00 1,000,000.00 1,000,000.00 6,500,000.00 7,000,000.00 10,000,000.00 t ,000,000.00 26,500,000.00 37.81% U.S. TREASURY OBLIGATIONS 0.00 0.00% CORPORATE STOCK (Ly~ r~ny Tn~) I0,390.71 0.01% TOTAL Oil:mR FUNDS 46,.301,865.27 66.06% 70,090,158.94 100.00% LRECAP OF PORTFOLIO PERCENTAGES CASH CHECK~G / SAVINGS ACCTS MUTUAL FUNDS (U.S. GOVERNMENT) CERTIFICATES OF DEPOSIT U.S. TREASURY OBLIGATIONS FEDERAL AGENCY OBLIGATIONS CORPORATE STOCK Total MANAGED OTHER COMBINED FUN'DS FUNDS TOTAL 0.00% 0.13% 0.13% 0.00% 28.11% 28.11% 1.69°.4 0.00% 1.69% 0.45% 37.81% 38.26% 1.01% 0.00% 1.01% 30.79% 0.00% 30.79% 0.00% 0.01% 0.01% 33.94% 66.06% 100.00% ~age z