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Quarterly Financial Reports June 30, 2018 Copyrighted August 6, 2018 City of Dubuque Consent Items # 7. ITEM TITLE: Quarterly Financial Reports June 30, 2018 SUMMARY: City Manager transmitting the June 30, 2018 Quarterly Investment Report. SUGGESTED DISPOSITION: Suggested Disposition: Receive and File ATTACHMENTS: Description Type June 30, 2018 Quarterly In�stment Report-NNM Memo City Manager Memo Quarterly Memo to Council Qtr ending June 2018 Staff Memo Council Summary Q4 2018 Cash, Investments and Supporting Documentation Investment Earnings Monthly Investment Summary June 30, 2018 Supporting Documentation Schedule of City Funds FY' 2018 Supporting Documentation Schedule of Certificates of Deposits&Accrued Interest Supporting Documentation FY' 2018 THE CITY OF Dubuque � AIFA�erlwGh UB E '�� III► Masterpiece on the Mississippi Z°°'�w'2 7A13 2017 TO: The Honorable Mayor and City Council Members FROM: Michael C. Van Milligen, City Manager SUBJECT: June 30, 2018 Quarterly Investment Report DATE: July 30, 2018 Finance Director Jean Nachtman is transmitting the June 30, 2018 Quarterly Investment Report. �� �� ��� Mic ael C. Van Milligen �� � MCVM:jh Attachment cc: Crenna Brumwell, City Attorney Teri Goodmann, Assistant City Manager Cori Burbach, Assistant City Manager Jean Nachtman, Finance Director THE CTTY OF Dubuque �" ui���eNe�ary DUB E ,il��i;' Masterpiece on the Mississippi Z°°' Z°'Z 2013 2017 TO: Michael C. Van Milligen, City Manager FROM: Jean Nachtman, Finance Director RE: June 30, 2018 Quarterly Investment Report DATE: July 30, 2018 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, 2018 through June 30, 2018. The report includes: Cash Investments and Investment Earnings Summary for quarter ended June 30, 2018 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. JN/cm Enclosures CITY OF DUBUQUE Cash, Investments and Investment Earnings Summary For The Quarter Ended June 30, 2018 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 20,095,977 20,095,977 - Unspent Bond Proceeds 15,165,540 15,165,540 - Certificates Of Deposit 28,200,005 28,333,489 133,484 US Treasury Securities 2,015,125 2,606,844 591 ,719 Corporate Stock (EB Lyons Trust) 11 ,514 89,885 78,371 Investment Advisor Accounts 27,041 ,651 26,776,994 (264,656) Total Funds 92,548,496 93,087,414 538,918 Breakdown City 80,120,091 80,605,352 485,261 Metro 12,428,406 12,482,062 53,657 Total Combined Funds 92,548,496 93,087,414 538,918 Cash Basis Quarter Year-To-Date Gross Earninqs: City 427,837 1 ,129,400 Metro 34,010 114,357 Combined 461,847 1,243,757 Investment Fees: City 36,263 103,464 Metro 250 1 ,033 Combined 36,513 104,497 Net Earninqs: City 391 ,574 1 ,025,936 Metro 33,760 113,324 Combined 425,334 1 ,139,259 CITY OF DUBUQUE M ONTHLY I NV ESTM ENT SUM MARY M onth Ending: O6/30/18 First Tdal Community Managed Combined Dana DB&T Trust US Bank Accounts Citv Finance Tdal COST BASIS ANALYSIS Cost Basis Prior Month 5,94Q391 7,752,064 6,198,217 7,122,458 27,013,130 86,413,093 113,426,223 Additions: Interest Earnings 12,900 1Q348 17,441 2,457 43,146 109,660.01 152,806 Realized Gains(Losses) (3,061) 0 (373) 0 (3,433) (3,433) TotalAdditions 9,840 1Q348 17,068 2,457 39,713 109,660 149,373 Subtrections: Management Fees (1,240) (3,517) (1,277) (2,910) (8,944) (8,944) Custodian Fees (532) (602) (539) (576) (2,249) (2,249) Withdrawal 0 0 0 0 471 471 TdalSubtrections (1,771) (4,120) (1,816) (3,486) (11,193) 471 (1Q722) Cost Basis Current Month 5,948,459 7,758,293 6,213,469 7,121,428 27,041,650 86,523,224 113,564,874 Net Cash Receipts&(Disbursements) (18,046,888) (18,046,888) Ending Cost Basis Balance 5,948,459 7,758,293 6,213,469 7,121,428 27,041,650 68,476,336 95,517,986 MARKET VALUE ANALYSIS Investment Market Value Prior Month�Aa��eam�A��is7 5,952,881 7,66Q462 6,155,625 7,018,761 26,787,729 87,855,290 114,643,019 Investment Market Value Current Month 5,938,431 7,632,306 6,137,943 6,986,026 26,694,707 69,776,074 96,47Q782 Accrued Interest Current Month 2Q964 2Q985 18,677 21,662 82,287 169,675 251,962 Market Value Adjusted for Accruals 5,959,395 7,653,291 6,156,620 7,007,688 26,776,994 69,945,749 96,722,743 Portfolio Retums��mpueaeyi��emMa�ges7 Monthly Return Gross of Fees 0.15% (0.04%) 0.04% (0.11%) Monthly Return Net of Fees 0.13% (0.09%) 0.01% (0.13%) Total Retum CalendarYearto Date-Gross 0.40% 0.00% 0.15% 0.13% Effective Duration in Years 0.89 2.16 1.92 1.79 Marketlntlices Averege Last Calentlar Last Last Monih Vear to Date 12 Monihs 3 Vears BBgBarc US Trsy Bellwethers 3Mon TR USD 0.16% 0.81% 1.37% 0.69% BBgBarc US Govl 1-3 Vr TR USD 0.01% 0.06% 0.03% 0.42% BBgBarc US Govl Interm TR USD -0.01% -0.67% -0.73% 0.63% BBgBarcUSGovITRUSD 0.02% -1.05% -0.63% 1.02% Current Prime 5.00% Ci[y of Dubuque Schetlule of City Funtls As of June 30,2018 TOTAL COST CITYFUNDS CITY MANAGED FUNDS BASIS PERCENTAGE CASH: Change and Petty Cash Funds 18,685 Health Fund Deposit 14Q000 Prescription Fund Deposit 75,000 Workers Comp Deposit 1Q000 Hometown Bank 10Q699 ShortTerm Disability 1Q000 Total 354,384 0.37% CHECKING 1 SAVINGS ACCOUNTS: American Trust&Savings Bank��e�eap 722,538 Am erican Trust&Savings Bank�Ho�smg Renae a se�oo�e7 323,661 Dubuque Bank&Trust��e�eauMewicrem�7 12,358,086 Dubuque Bank&Trust�came Fa��n�seeqwpme��w�a7 65Q012 Dubuque Bank&Trust�o�e�q�e m�oao��iFiexirzeies��ow7 664,987 US Bank ��e�eap 5,589 Prem ier�uoury7 5,145 Fidelity Bank&Trust�uoury7 5,525 Dubuque Bank&Trust Police Forteiture Funds 149,452 Total 19,898,149 20.84% UNSPENTBONDPROCEEDINVESTMENTACCOUNTS: DB&T Series 2012B 1,299,938 DB&T Series 2012C 346,394 DB&T Series 2012D 502,116 DB&T Series 2012E 121,511 AT&S Series 2012F 381,984 DB&T Series 2012H 105,394 AT&S Series 2014B 1,679,029 AT&S Series 2014C 552,450 AT&S 2014 DMASWA 962,375 Fidelity Series 2015A 5,673,337 AT&S 2016 DMASWA 1,943,241 Fidelity Series 2016C 1,59Q668 DB&T 2017A Ambulance&2018B Radios 204,931 Total 15,363,368 16.09% CERTIFICATES OF DEPOSIT: . AT&S 5,80Q000 CCCU 4,40Q000 DuTrac 16,OOQ005 US Bank 2,OOQ000 Total 28,20Q005 29.53% U.S.TREASURY OBLIGATIONS: Debt Service Reserve Fund Required for Port Ramp 2,015,125 Total 2,015,125 2.11% RESERVES: Sales Tae Increment Rev Bond Reserve�sen�zoisA7 2,08Q000 Water Debt Bond Reserve �zmoo7 525,200 Total 2,605,200 2]3% CORPORATE STOCK(Lyons Peony Tmst): 11,514 Total 11,514 0.01% TOTALqTYMANAGEDFUNDS 68,447,745 71.68% �ee� Ci[y of Dubuque Schetlule of City Funtls As of June 30 2018 POR�FOLIO TOTAL COMPoSITION COST CITYFUNDS FINANCIAL ADVISORS MANAGED FUNDS PERCENTAGE BASIS PERCENTAGE DANA INVESTMENT ADVISORS,INC: Cash and Equivalents 4.3% 254,582 US Treasury Obligations 0.0% 0 US Agencies 32.3% 1,922,665 Mortgaged Backed Sewrities 63.4% 3,771,212 Total 100.0% 5,948,459 623% DUBUQUE BANK&TRUST: Cash and Equivalents 1.1% 82,600 US Treasury Obligations 98.9% 7,675,693 US Agencies 0.0% 0 Mortgaged Backed Securities 0.0% 0 Unsettled Trades 0.0% 0 Total 100.0% 7,758,293 8.12% FIRST COMMUNITY TRUST: Cash and Equivalents 0.4% 24,886 US Treasury Obligations 0.0% 2Q412 US Agencies 97.4% 6,049,519 Mortgaged Backed Sewrities 1.9% 118,653 Total 997% 6,213,469 6.51% US BANK: Cash and Equivalents 5.4% 387,692 US Treasury Obligations 0.0% 0 US Agencies 94.6% 6,733,737 Mortgaged Backed Securities 0.0% 0 Total 100.0% 7,121,429 7.46% TOTAL FINANqAL ADVISORS MANAGED FUNDS 27,041,651 28.32% BREAKDOWN BY TYPE OF SECURITY: Cash&Equivalents 2.8% 749,760 US Treasury Obligations 28.5% 7,696,105 US Agencies 54.4% 14,705,920 Mortgage Backed Sewrities 14.4% 3,889,865 Unsettled Trades 0.0% 0 Total 100.0% 27,041,650 TOTAL CITY FUNDS 95,489,395 100.00% 0.30 RECHPOFPORTFOLIOPERCENTHGES Managed Ciry Combined C4SH&EQUIVALENTS 0]8% 03]% 1]8% CHECKING/SAVINGSACCTS 000% 3888% 3888% MORTGAGEBACKEOSECURITIES 40]% 000% 40]% ceRnFicnresoFoeaosir 000i zesai zesai US.TREASURVOBIJGATIONS 808% 2]1% ID.P% FeoeRA�A�eNaes isaoi 000i isaoi orHeR 000i omi ooii To[al 28.326 ]1.686 100.006 Page 3 Ci[y of Dubuque Schedule of Certificates of Deposiq Accrued Interesq High Yield Savings Accounts&Unspent Bond Proceeds As of June 30,2018 Certificates of De osit: Certificate � Cost Purchase Maturity Interest Days to Accruetl Accruetl Nurtber Institution Basis Date Date Rate Maturi Da Interest 46 DUTrec C 1,000,000 05/11/18 09/14/18 2.190% 76 50 3,000.00 05468373047/8 DUTrec C 1,000,000 05/25/18 09/28/18 2210% 90 36 2,179.73 47 DUTrec M 500,000 05/31/18 05/31/19 2.560% 335 30 1,052.05 49 DUTrec C 1,000,000 06/OB/18 10/12/18 2.310% 104 22 1,392.33 48 DUTrec C 1,000,000 06/OB/18 10/05/18 2290% 97 22 1,38027 51 DUTrec C 1,000,000 06/22/18 10/19/18 2.320% 111 8 508.49 52 DUTrec M 500,000 06/22/18 06/21/19 2.660% 356 8 291.51 CCCC Collins M 400,000 0622/18 12/19/18 2.620% 172 8 22970 53 DUTrec C 1,000,000 06/29/18 11/30/18 2.440% 153 1 66.85 462513006 Collins C 1,000,000 03N2/18 07N6/18 2200% 6 120 7,232.88 11 DUTrec M 500,000 07/14/17 07/13/18 1.600% 13 351 7,693.15 05468373047/6 AT&S C 1,000,000 03/16/18 07/20/18 2.010% 20 106 5,83726 37 DUTrec C 1,000,000 03/30/18 OB/03/18 2.060% 34 92 5,192.33 14 DUTrec M 500,000 09/14/17 09/14/18 1.600% 76 289 6,33425 05013396931/3 AT&S M 400,000 07/14/17 10/13/18 1.300% 105 351 5,000.55 05578314659/2 AT&S M 600,000 11/07/17 11/06/18 1.770% 129 235 6,837.53 05013396931/4 AT&S M 500,000 12/OB/17 12/07/18 1.910% 160 204 5,337.53 05468373047/4 AT&S M 800,000 02/02/18 02/01/19 2.100% 216 148 6,812.05 05468373047/5 AT&S M 500,000 03/13/18 03/14/19 2260% 257 109 3,374.52 433071359 USB M 1,000,000 04/09/18 04/09/19 2.380% 283 82 5,346.85 60001586665 Collins C 1,000,000 06/15/18 05/31/19 2.620% 335 15 1,07671 60001586673 Collins C 1,000,000 06/15/18 05/31/19 2.620% 335 15 1,07671 60001586681 Collins C 1,000,000 06/15/18 05/31/19 2.620% 335 15 1,07671 38 DUTrec C 1,000,000 04/13/18 07/13/18 2.090% 13 78 4,466.30 39 DUTrec C 1,000,000 04/13/18 07/20/18 2.090% 20 78 4,466.30 40 DUTrec C 1,000,000 04/13/18 07/27/18 2.160% 27 78 4,615.89 41 DUTrec C 1,000,000 04/13/18 OB/03/18 2.160% 34 78 4,615.89 42 DUTrec C 1,000,000 04/13/18 OB/10/18 2.160% 41 78 4,615.89 43 DUTrec C 1,000,000 04/13/18 11/30/18 2280% 153 78 4,872.33 44 DUTrec C 1,000,000 04/13/18 11/30/18 2280% 153 78 4,872.33 45 DUTrec C 1,000,000 04/13/18 11/30/18 2280% 153 78 4,872.33 05468373047l7 AT&S C 1,000,000 04/27/18 OB/31/18 2.130% 62 64 3,734.79 433071359 USB M 1,000,000 04/09/18 04/09/19 2.380% 283 82 5,346.85 Totals 28,200,000 124,808.86 Reserve Funtls Account p Entling Face Value Accruetl Number Institution Balanee IrRerestRate Interest cmu t CDBalance Accmedlnterest 2015A Dutrec-CD R 2,080,000 2.65% 2,26521 DMASWA ],200,000 53,65654 2010D AT&S-CD R 525,200 1.65% 6,410.32 Clry 21,000,000 ]1,15232 Totals 2,605,200 8,675.53 28,200,000 124,80886 U.S.Treasu Bontl - Account � Entling Face Value Accruetl Number Institution � Balance IrRerestRate Interest 2152-1478 LPL Financial C 2,570,653 3.69% 36,19028 Weightetl Vieltl:2.230% Totals 2,570,653 36,19028 WeightetlMaturityinDays:137.5 UnspentBontl Proceetl Accounts: � Entling APR� Accruetl Bontl Issue Institution ' galancN Month Entl IrReresl* 2012B DB&T C 1,299,938 0.32% - 2012C DB&T C 346,394 0.60% - 2012D DB&T C 502,116 0.60% - 2012E DB&T C 121,511 0.45% - 2012F AT&S C 381,984 0.30% - 2012H DB&T C 105,394 0.95% - 2014B AT&S C 1,679,029 1.04% - 2014C AT&S C 552,450 1.04% - 2014 DMASWA AT&S M 962,375 0.60% - 2016DMASWA AT&S M 1,943,241 1.15% - Ins[im[ion %ofTOGI BondBalance 2015A FB&T C 5,673,337 0.68% - ATRS 3641 5,519,0]8]] 2016C FB&T C 1,590,668 0.95% - DB&T 15.6] 2,3]5,35209 2017A DB&T C 7,104 0.00% FB&T 4]92 ]264,00585 Totals 15,165,540 10000% 15158,43] �q=aivFomoe �m�=ooa000em�iaovouvwnaEneouownsiena[�cv IN=REe[a�Fomoe