Quarterly Investment Report Copyrighted
November4, 2019
City of Dubuque Consent Items # 5.
ITEM TITLE: Quarterly Investment Report
SUMMARY: City Manager transmitting the September 30, 2019
Quarterly Investment Report.
SUGGESTED DISPOSITION: Suggested Disposition: Receive and File
ATTACHMENTS:
Description Type
September 30, 2019 Quarterly I n�strnent Report-MVM City Manager Memo
Memo
Staff Memo Staff Memo
Cash In�strnents and In�strnent Earnings Summary Supporting Documentation
Schedule of City Funds Supporting Documentation
Monthly In�strnentSummary Supporting Documentation
Schedule of Certificates of Deposit and Accrued Supporting Documentation
Interest
Manager/Custodian Annual Fees Computation Supporting Documentation
Dubuque
THE CITY OF �
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TO: The Honorable Mayor and City Council Members
FROM: Michael C. Van Milligen, City Manager
SUBJECT: September 30, 2019 Quarterly Investment Report
DATE: October 28, 2019
Director of Finance and Budget Jennifer Larson is transmitting the September 30, 2019
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
Jennifer Larson, Director of Finance and Budget
Dubuque
THE CITY OF �
All America City
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MGlStE leCE 011 t�lE M2SSZSS2 1 zao��zoiz•zois
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TO: Michael C. Van Milligen, City Manager
FROM: Jennifer Larson, Director of Finance and Budget
RE: September 30, 2019 Quarterly Investment Report
DATE: October 24, 2019
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 July 31, 2019 through September 30, 2019.
The report includes: Cash Investments and Investment Earnings Summary
for quarter ended September 30, 2019 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.
JL/eml
Enclosures
CITY OF DUBUQUE
Cash, Investments and Investment Earnings Summary
For The Quarter Ended September 30, 2019 And Fiscal Year To Date
Market Value / Unrealized
Carrying Including Gain (Loss) /
Description Value Accrued Interest Accrued Interest
Change & Petty Cash Funds 251 ,581 251 ,581 -
Checking/Savings Accounts 44,622,335 44,622,335 -
Unspent Bond Proceeds 12,103,518 12,103,518 -
Certificates Of Deposit 14,100,005 14,296,424 196,419
US Treasury Securities 2,015,125 2,907,182 892,057
Corporate Stock (EB Lyons Trust) 11 ,514 107,528 96,014
InvestmentAdvisorAccounts 27,535,164 27,691 ,404 156,240
Reserve Accounts 2,605,200 2,638,789 33,589
Total Funds 103,244,442 104,618,761 1,374,319
Breakdown
City 89,136,950 90,426,907 1 ,289,957
Metro 14,107,492 14,191 ,854 84,363
Total Combined Funds 103,244,442 104,618,761 1,374,319
Cash Basis Quarter Year-To-Date
Gross Earninas:
City 539,891 539,891
Metro 63,777 63,777
Combined 603,668 603,668
Investment Fees:
City 21 ,239 21 ,239
Metro 339 339
Combined 21,578 21,578
Net Earninas:
City 518,652 518,652
Metro 63,438 63,438
Combined 582,090 582,090
City of Dubuque
Schetlule of City Funtls
As of
Sep[ember 30,2019
TOTAL
COST CITYFUN0.S
CITY MANAGED FUNDS snsis PERCENTAGE
CASH:
Change and Petty Cash Funds 15,581
Health Fund Deposit 14Q000
Prescription Fund Deposit 75,000
Workers Comp Deposit 1Q000
Hometown Bank 1,000
ShortTerm Disability 1Q000
Total 251,581 024%
CHECKING 1 SAVINGS ACCOUNTS:
MidWestOne Bank(General) 922,277
MidWestOne Bank(Sedion 8) 118,788
Dubuque Bank&Trust��e�eauMewicrem�7 13,546,114
Dubuque Bank&Trust�caeie Fa�m��se eq���pme��F��a7 791,635
Dubuque Bank&Trust�o�e�q�e m�oao�esiFie�neei esww7 1,288,799
US Bank ��e�eap 12,027
Prem ier�ueury7 9,457
Fidelity Bank&Trust�uoury7 13,512
Dubuque Bank&Trust Police Forteiture Funds 149,546
Collins Community Credit Union 26,289,990
CollinsCommunityCreditUnion (Metro) 1,480,190
Total 44,622,335 4322%
UNSPENTBONDPROCEEDINVES7MENTACCOUNTS:
DB&T Series 2012B 217,590
DB&T Series 2012C 787,150
DB&T Series 2012D 506,283
DB&T Series 2012E 1Q074
MWO Series 2012F 354,983
DB&T Series 2012H 107,497
MWO Series 2014B 1,431,314
MWO Series 2014C 52Q260
MWO 2014 DMASWA 806,406
Fidelity Series 2015A 1,914,696
MWO 2016 DMASWA 1,69Q840
Fidelity Series 2016C 1,31Q939
Collins CW Series 2019A 2,205,646
Collins CW Series 2019B 239,840
Total 12,103,518 1172%
CERTIFICAlES OF DEPOSIT: .
MWO 4,SOQ000
DB&T 40Q000
CCCU SOQ000
Dutrac 6,70Q005
FB&T 2,000,000
Total 14,10Q005 13.66%
U.S.TREASURY OBLIGATIONS:
Debt Service Reserve Fund Required for Port Ramp 2,015,125
Total 2,015,125 1.95%
RESERVES:
Sales Tae Increment Rev Bond Reserve�seneszmsA7 2,08Q000
Water Debt Bond Reserve �soioo7 525,200
Total 2,605,200 2.52%
CORPORAlE STOCK(Lyons Peony Tmst): 11,514
Total 11,514 0.01%
TOTALCITYMANAGEDFUNDS 75,709,277 73.33%
P�et
City of Dubuque
Schetlule of City Funtls
As of
Sep[ember 30,2019
PORTFOLIO TOTAL
COMPOSITION COST CITYFUN0.S
FINANCIAL ADVISORS MANAGED FUNDS PERCENTAGE snsis PERCENTAGE
DANA INVESTMENTADVISORS,INC:
Cash and Equivalents 1.5% 88,253
US Treasury Obligations 0.0% 0
US Agencies 19.3% 1,175,000
Mortgaged Backed Sewrities 792% 4,822,308
Total 100.0% 6,085,561 5.89%
DUBUQUE BANK&7F2UST:
Cash and Equivalents 8.4% 661,393
US Treasury Obligations 91.6% 7,225,552
US Agencies 0.0% 0
Mortgaged Backed Securities 0.0% 0
Unsettled Trades 0.0% 0
Total 100.0% 7,886,945 7.64%
FIRST COMMUNITY 7F2UST:
Cash and Equivalents 0.6% 36,617
US Treasury Obligations 0.0% 0
US Agencies 98.4% 6,217,868
Mortgaged Backed Sewrities 1.0% 63,473
Total 100.0% 6,317,958 6.12%
US BANK:
Cash and Equivalents 5.8% 421,234
US Treasury Obligations 0.0% 0
US Agencies 942% 6,823,465
Mortgaged Backed Securities 0.0% 0
Total 100.0% 7,244,699 7.02%
TOTALFINANCIALADVISORSMANAGEDFUNDS 27,535,164 26.67%
BREAKDOWN BY TYPE OF SECURIN:
Cash&Equivalents 4.4% 1,207,498
US Treasury Obligations 262% 7,225,552
US Agencies 51.6% 14,216,334
Mortgage Backed Sewrities 177% 4,885,781
Unsettled Trades 0.0% 0
Total 100.0% 27,535,164
TOTAL CITY FUNDS 103,244,442 100.00%
RECHP OF PORTFOLIO PERCENTHGES Managed Ciry Combined
C4SH&EQUIVALENTS 1.P% 024% 141%
CHECKING/SAVINGSACCTS 000% 5]4]% 5]4]%
MORTGAGEBACKEOSECURITIES 4]3% 000% 4]3%
ceRnFicnresoFoeaosir 000i iaeei iaeei
US.TREASURVOBLIGATIONS ]00% 185% 885%
FeoeRn�A�eNaes iani 000i iani
orHeR 000i ooii ooii
To[al 26.6]6 ]3.336 100.006
P�ez
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MONTHLY INVESTMENTSUMMARY Month Ending: 09/30/19
First Total
Community Managed Combined
Dana DB&T Trust USBank Accounts CitvFinance Total
COST BASIS ANALYSIS
Cost Basis Prior Month 6,069,536 7,887,620 6,295,681 7,23Q900 27,483,737 75,238,834 102,722,571
Additions:
Interest Earnings 17,453 1,757 15,336 15,075 49,621 153,52925 203,150
Realized Gains(Losses) (890) 0 8,808 813 8,731 8,731
Total Additions 16,564 1,757 24,144 15,887 58,351 153,529 211,880
Subtrections:
Management Fees 0 (1,819) (1,318) (1,502) (4,639) (4,639)
Custodian Fees (538) (614) (548) (585) (2,285) (2,285)
Withdrawal 0 0 0 0 317 317
Total Subtrections (538) (2,432) (1,866) (2,088) (6,924) 317 (6,608)
Cost Basis Current Month 6,085,562 7,886,945 6,317,958 7,244,699 27,535,164 75,392,680 102,927,844
Net Cash Receipts&(Disbursements) 316,598 316,598
Ending Cost Basis Balance 6,085,562 7,886,945 6,317,958 7,244,699 27,535,164 75,709,277 103,244,441
MARKET VALUE ANALYSIS
Investment Market Value Prior Month(Adjusted for Accn 6,113,187 7,939,588 6,35Q871 7,268,060 27,671,707 75,235,789 102,907,495
Investment Market Value Current Month 6,101,182 7,909,288 6,336,603 7,24Q541 27,587,615 75,408,549 102,996,163
Accrued Interest Current Month 21,878 28,299 23,477 30,135 103,789 242,316 346,106
Market Value Adjusted for Accruals 6,123,061 7,937,587 6,36Q080 7,27Q676 27,691,404 75,65Q865 103,342,269
Portfolio Retums��mp�r�aeym��me��Ma�ages7
Monthly Return Gross of Fees 0.10% 0.03% 0.18% 0.06%
Monthly Return Net of Fees 0.08% 0.01% 0.15% 0.04%
TotalRetumCalendarYeartoDate-Gross 2.51% 2.55% 2.40% 2.56%
Effective Duration in Years 0.90 1.46 0.78 0.93
Marketlntlices
Averege Last Calentlar Last Last
Monih Vearto Date 12 Monihs 3 Vears
BBgBarc US Trsy Bellwethers 3Mon TR USD 0.19% 1.83% 2.41% 1.56%
BBgBarc US Govt 1-3 Vr TR USD -0.11% 3.07% 4.42% 1.54%
BBgBarcUSGovtlntermTRUSD -0.44% 5.18% 7.52% 1.82%
BBgBarcUSGoviTRUSD -0.83% 7.66% 10.40% 2.27%
Current Prime 5.25%
City of Dubuque
Schedule of Certificates of Deposit,Accrued Interest, High Yield Savings Accounts&Unspent Bond Proceeds
As of
September 30,2019
Certifica[es of De osi[:
Cer[ifica[e � Cos[ Purchase Ma[uri[y In[eres[ Days[o Accrued Accrued
Number Ins[i[u[ion � Basis Da[e Da[e Ra[e Ma[uri[y Days In[eres[
67 DuTrac M 40Q000 10/12/18 10/14/19 2.970% 14 353 11,489.42
05578314659/3 AT&S M 500,000 11/O6/18 11/OS/19 2.900% 36 328 13,030.14
05578314659/5 AT&SB C 1,OOQ000 03/15/19 11/30/19 2.770% 61 199 15,102.19
05578314659/6 AT&SB C 1,OOQ000 03/15/19 11/30/19 2.770% 61 199 15,102.19
05578314659/7 AT&SB C 1,OOQ000 03/15/19 11/30/19 2.770% 61 199 15,102.19
78 DuTrac M SOQ000 12/07/18 12/O6/19 3.010% 67 297 12,246.16
91 DuTrac M SOQ000 O6/21/19 12/20/19 2.480% 81 101 3,43123
2 DuTrac C 40Q000 01/10/19 01/10/20 2.910% 102 263 8,387.18
988965905560 DB&T M 400,000 07/31/19 01/31/20 2.270% 123 61 1,517.48
80 DuTrac M 40Q000 02/01/19 01/31/20 2.890% 123 241 7,632.77
132219 Fidelity M 1,OOQ000 03/13/19 03/12/20 2790% 164 201 15,364.11
85 DuTrac M 1,OOQ000 04/10/19 04/08/20 2.670% 191 173 12,655.07
132532 Fidelity C 1,OOQ000 04/12/19 04/10/20 2.600% 193 171 12,180.82
86 DuTrac C 1,OOQ000 04/15/19 04/17/20 2.640% 200 168 12,15123
87 DuTrac C 1,OOQ000 04/26/19 04/24/20 2790% 207 157 12,000.82
05578314659/8 AT&S C 1,OOQ000 04/26/19 04/24/20 2700% 207 157 11,61370
88 DuTrac C 1,OOQ000 OS/10/19 OS/08/20 2.660% 221 143 1Q421.37
90B DuTrac M SOQ000 OS/31/19 O6/01/20 2.640% 245 122 4,412.05
60002131691 Collins M 500,000 07/15/19 07/14/20 2.450% 288 77 2,584.25
43,738 -
To[als 14,10Q000 196,424.37
Reserve Funds
Accoun[ � Ending Face Value Accrued
Number Ins[i[u[ion Balance In[eres[Ra[e In[eres[ Account CD Balance Accrued Interest
2015A DuTrac-CD R 2,08Q000 2.60% 18,076.05 DMASWA 5,70q000 84,362.68
2010D DuTrac-CD R 525,200 2.97% 15,512.97 City 8,40q000 112,061.69
To[als 2,605,200 33,589.02 14,10q000 196,424.37
U.S.Treasur Bond -
Accoun[ � Ending Face Value Accrued
Number Ins[i[u[ion � Balance In[eres[Ra[e In[eres[
2152-1478 LPLFinancial C 2,907,182 325% 12,303.02 Weigh[edYield: 2.717%
To[als 2,907,182 12,303.02 Weigh[ed Ma[uri[y in Days: 146.8
Unspen[Bond Proceed Accoun[s:
� Ending APR @ Accrued
Bond Issue Ins[i[u[ion � Balance* Mon[h End In[eres[*
2012B DB&T C 217,544 0.75% 138.64
2012C DB&T C 787,150 0.60% 60123
2012D DB&T C 506,283 0.60% 386.70
2012E DB&T C 1Q074 2.00% 17.08
2012F MWO C 355,209 075% 226.12
2012H DB&T C 107,497 2.00% 182.29
2014B MWO C 1,434,924 225% 3,610.67
2014C MWO C 52Q260 2.17% 1,343.15 Institution %ofTotal BondBalance
2014 DMASWA MWO M 808,262 2.71% 1,856.06 MWO 39.68 4,81q47073
2016DMASWA MWO M 1,691,814 2.33% 974.66 DB&T 13.43 1,628,54823
2015A FB&T C 1,917,118 1.51% 2,422.12 FB&T 26.64 3,229,053.66
2016C FB&T C 1,311,936 128% 996.84 Collins 2025 2,454,290.67
2019A Collins C 2,202,240 270% 4,89227 100.00% 12,122,363
2019B Collins C 252,051 270% 53570
To[als 12,122,363 18,183.53 � �
�c�=arvFUNos �r�=oueuaueMErRoaourANAa�AsouowAsreA�eNcv �a�=ReseRveFUNos
Manager/Custodian Annual Fees Computation
Fiscal YTD -Quarter Ending
September 30, 2018
Total Market Value Annual Fees
Investment Manaqers Manaqerial Fee Schedule (1) (2)
Dana 0.25% No Tiers $ 6,123,061 $ 15,308
15,308
Avg 0.25%
YTD Actual Fees $ 3,797
Dubuque Bank 8 Trust 0.25% No Tiers $ 7,937,587 $ 19,844
$ 19,844
Avg 0.25%
YTD Actual Fees $ 5,441
First Community Trust 0.25% No Tiers $ 6,360,080 $ 15,900
$ 15,900
Avg 0.25%
YTD Actual Fees $ 3,948
U.S.Bank 0.25% No Tiers $ 7,270,676 $ 18,177
$ 18,177
Avg 0.25%
YTD Actual Fees $ 7,488
Custodian fee Schedule
American Trust 8 Annual fee of$400 for each account plus... 27,691,404 $ 1,600
Savings Bank 0.2% on first$1,000,000 of assets for each account 8,000
0.15%on neM$1,000,000 of assets for each account 6,000
0.10%on neM$1,000,000 of assets for each account 4,000
0.05%on remaining assets for each account 7,846
$ 27,446
Avg 0.10%
YTD Actual Fees $ 6,855
Combined Avg Mgmt&Custodial 0.35%
Note:(1)Total market value includes accrued interest.
(2) Fees are listed on an annual basis.