Quarter ly Investment Report June 30, 2010Masterpiece on the Mississippi
TO: The Honorable Mayor and City Council Members
FROM: Michael C. Van Milligen, City Manager
SUBJECT: June 30, 2010 Quarterly Investment Report
DATE: July 28, 2010
Finance Director Ken TeKippe is transmitting the attached June 30, 2010 Quarterly
Investment Report.
MCVM:jh
Attachment
cc: Barry Lindahl, City Attorney
Cindy Steinhauser, Assistant City Manager
Kenneth J. TeKippe, Finance Director
Mict'iael C. Van Milligen
Dubuque
hitill
Ai-America City
2007
Masterpiece on the Mississippi
TO: Michael C. Van Milligen, City Manager
FROM: Kenneth J. TeKippe, Finance Director
RE: June 30, 2010 Quarterly Investment Report
DATE: July 28, 2010
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, 2010 through June 30, 2010.
The report includes: Cash Investments and Investment Earnings Summary
for quarter ended June June 30, 2010 and fiscal year to date
Schedule of City Funds
Monthly Investment Summary
Schedule of Accrued Interest
The valuations reflect the same basis that the assets are carried on the financial records
of the City. The City of Dubuque is in compliarice with the Investment Policy.
REQUESTED ACTION
This report is for your review and filing with the Honorable Mayor and City Council.
KT /jg
Enclosures
Dubuque
krad
AI- AmedcaCfty
2007
Quarter
Year -To -Date
367,645
1,367,603
12,651
91,019
380,296
1,458,622
36,256
139,037
732
1,180
36,987
140,217
403,901
1,228,566
13,382
89,839
417,284
1,318,405
Deposits, Change & Petty Cash Funds
Checking /Savings Accounts
Certificates Of Deposit
US Treasury Securities
Corporate Stock
Investment Advisor Accounts
Total Funds
City
Metro
Total Combined Funds
Cash Basis
Gross Earnings:
City
Metro
Combined
Investment Fees:
City
Metro
Combined
Net Earnings:
City
Metro
Combined
CITY OF DUBUQUE
Cash, Investments and Investment Earnings Summary
For The Quarter Ended June 30, 2010 & Fiscal 2010 YTD
Description
Carrying
Value
Market Value /
Including
Accrued Interest
Unrealized
Gain (Loss) /
Accrued Interest
Breakdown
F \123DATA1 Finance \ Investments \Investments 10 \Council Summary-Q2010
95,794
23,641,846
10,600,000
2,015,125
11,514
26, 380, 466
62, 744, 745
51,721,878
11, 022, 867
62,744,745
95,794
23, 641, 846
10,608,547
2,365,443
56,879
26, 658, 376
63,426,885
52, 395, 471
11,031,414
63,426,885
8,547
350,318
45,365
277,910
682,140
673,593
8,547
682,140
7/28/2010
City of Dubuque
Schedule of City Funds
June '10 per13
FY10
TOTAL
COST CITY FUNDS
City Managed Funds BASIS PERCENTAGE
CASH
Change and Petty Cash Funds 10,794
Prescriptions & Workers Comp Deposits 85,000
Total 95,794 0.2%
CHECKING / SAVINGS ACCOUNTS:
American Trust & Savings Bank (General & Health) 271,642
American Trust & Savings Bank (Housing Rehab & Section 8) 224,213
Dubuque Bank & Trust (General /Metro /Leisure) 1,606,250
Dubuque Bank & Trust (Comm) /Ind Bldg Rehab & Econ Dev) 108,457
Dubuque Bank & Trust (Cable Franchise Equipment Fund) 163,759
US Bank (General /Ambulance) 16,743
Premier ( utility> 4,152
Liberty (Utility) 6,111
East Dubuque Savings Bank (Utility) 8,987
State Central (Utility) 4,017
BBVA Compass 12,827
Total 2,427,158 3.9%
BOND PROCEEDS:
DB &T Series 2007A 60,413
DB &T Series 2008A 335,596
DB &T Series 2009A 2,484,855
DB &T Series 2009B 8,662,536
Total 11, 543, 401 18.4%
CERTIFICATES OF DEPOSIT:
American Trust & Savings Bank 3,800,000
Dubuque Bank & Trust 2,800,000
East Dubuque Savings Bank 1,000,000
Liberty Bank 2,000,000
Premier Bank 1,000,000
Total 10, 600, 000 16.9%
HIGH YIELD SAVINGS ACCOUNTS
Dubuque Bank & Trust (Premium Savings) 7,555,632
East Dubuque Savings Bank (Advantage savings) 1,014,833
8,570,465 13.7%
PORT OF DUBUQUE PARKING RAMP
Project Construction Fund DB &T (Bond Proceeds) 1,100,822 1.8%
Debt Service Reserve u s Treasury Obligations (Bond Proceeds) 2,015,125 3.2%
Total 3,115, 947 5.0%
CORPORATE STOCK (Lyons Peony Trust) 11,514 0.0%
TOTAL OTHER FUNDS 36,364,279 58.0%
Page 1
FINANCIAL ADVISORS MANAGED FUNDS
DANA INVESTMENT ADVISORS, INC:
Cash and Equivalents
US Treasury Obligations
US Agencies
Mortgaged Backed Securities
DUBUQUE BANK & TRUST:
Cash and Equivalents
US Treasury Obligations
US Agencies
Mortgaged Backed Securities
FIRST COMMUNITY TRUST:
Cash and Equivalents
US Treasury Obligations
US Agencies
Mortgaged Backed Securities
US BANK:
Cash and Equivalents
US Treasury Obligations
US Agencies
Mortgaged Backed Securities
TOTAL CITY FUNDS
City of Dubuque
Schedule of City Funds
June '10 per13
Total
Total
Total
Total
GRAND TOTAL
Page 2
FY10
PORTFOLIO TOTAL
COMPOSITION COST CITY FUNDS
PERCENTAGE BASIS PERCENTAGE
2.0% 130,546
11.5% 769,026
86.5% 5,771,502
0.0%
100.0% 6,671,074 10.6%
4.0% 313,575
96.0% 7,565,829
0.0%
0.0%
100.0% 7,879,404 12.6%
3.0% 117,511
0.0%
95.4% 3,682,626
1.5% 58,900
100.0% 3,859,037 6.2%
34.8% 2,770,886
0.0%
65.0% 5,179,231
0.3% 20,835
100.0% 7,970,952 12.7%
26,380,466 42.0%
BREAKDOWN BY TYPE OF SECURITY:
Cash 12.6% 3,332,518 5.3%
Mortgage Backed Securities 0.3% 79,735 0.1%
US Treasury Obligations 31.6% 8,334,855 13.3%
US Agency Obligations 55.5% 14633,358 23.3%
TOTAL FINANCIAL ADVISOR MANAGED FUNDS 100.0% 26,380,466 42.0%
62,744,745 100.0%
RECAP OF PORTFOLIO PERCENTAGES Managed City Combined
CASH 5% 0% 5%
CHECKING / SAVINGS ACCTS 0% 38% 38%
MORTGAGE BACKED SECURITIES 0% 0% 0%
CERTIFICATES OF DEPOSIT 0% 17% 17%
U S. TREASURY OBLIGATIONS 13% 3% 16%
FEDERAL AGENCY OBLIGATIONS 23% 0% 23%
Total 42% 58% 100%
COST BASIS ANALYSIS
Cost Basis Prior Month 6,612,187.86 8,373,016.48 3,204,652.33 7,960,164.41 26,150,021.08 39,897,942.92 66,047,964.00
Additions:
Interest Earnings
Realized Gains (Losses)
Capital Deposits
Subtractions:
Management Fees
Custodian Fees
Bank Charges
Capital Withdrawals
Cost Basis Current Month
Net Cash Receipts & (Disbursements)
Ending Cost Basis Balance
MARKET VALUE ANALYSIS
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 to Date 2010
Market Indices
Total Additions 59,450.54 159,931.10 655,737.22 13,623.88 888,742.74 35,180.09
Total Subtractions
CITY OF DUBUQUE
MONTHLY INVESTMENT SUMMARY
Month Ending: 06/30/10
First
Community Managed Combined
Dana DB &T Trust US Bank Accounts City Finance Total
61,266.64 44,551.25 6,288.25 13,628.85 125,734.99
(1,816.10) 115,379.85 (1,139.03) (4.97) 112,419.75
650,588.00 650,588.00
(2,317.67) (939.28) (2,217.99) (5,474.94)
(564.88) (638.27) (413.38) (618.40) (2,234.93)
(650,588.00) (650,588.00)
(564.88) (653,543.94) (1,352.66) (2,836.39) (658,297.87)
6,671,073.52 7,879,403.64 3,859,036.89 7,970,951.90 26,380,465.95 39,934,190.67 66,314,656.62
6,671,073.52 7,879,403.64 3,859,036.89 7,970,951.90 26,380 465.95 36,364,278.68 62,744,744.63
Investment Market Value Prior Month (Adjusted for Accruals) 6,761,286.82 8,524,533.76 3,245,366.78 8,038,649.58 26,569,836.94 40,192,956.63 66,762,793.57
6,742,151.16 7,914,440.91 3,877,065.43 8,024,887.71 26,558,545.21 36,724,037.18 63,282,582.39
28,889.78 17,247.59 21,938.02 31,755.69 99,831.08 44,470.96 144,302.04
6,771,040.94 7,931,688.50 3,899,003.45 8,056,643.40 26,658,376.29 36,768,508.14 63,426,884.43
0.22% 0.75% 0.21% 0.28% 0.37%
1.62% 2.96% 3.24% 1.03% 2.21%
Average Last Last Calendar Last
Month 12 Months Year to Date 3 Years
90 Day T -Bills
Lehman Aggregate Govt. Bonds
Lehman Short Term Govt Bonds
Lehman Intermediate Govt Bonds
Consumer Price Index'
Current Prime Rate
0.01%
1.71%
0.49%
1.32%
(0.14 %)
3.25%
0.16%
6.46%
2.85%
5.68%
1.11%
0.05%
5.40%
1.89%
4.41%
(0.14 %)
1.57%
7.58%
4.94%
7.08%
1.54%
"Returns prior to fees
35,180.09
1,067.66
1,067.66
160,915.08
112,419.75
650,588.00
923,922.83
(5,474.94)
(2,234.93)
1,067.66
(650,588.00)
(657,230.21)
(3,569,911.99) (3,569,911.99)
Certificates of
Weighted Yield: 0.338%
Weighted Maturity in Days: 91.9
High Yield Savings Accounts
671460
44444116
Deposit:
Totals
DB &T
EDSB
1.0,600,000
7,555,632
1,014,833
8,570,465
City of Dubuque
Schedule of Accrued Interest
As of
June 30, 2010
Certificate
Number
Institution
Cost
Basis
Purchase
Date
Maturity
Date
Interest
Rate
Days to
Maturity
Accrued
Days
Accrued
Interest
1168517/3
1168517/4
236032
1393
1408
4421745
919
24993
1143
231979
1168517/2
AT &S
AT &S
Liberty
DB &T
DB &T
Liberty
Premier
EDSB
DB &T
AT &S
AT &S
M 1,000,000
M 1,000,000
M 1,000,000
M 1,000,000
M 1,000,000
M 1,000,000
M 1,000,000
M 1,000,000
M 800,000
M 800,000
M 1,000,000
05/26/10
06/11/10
06/17/10
01/14/10
01/21/10
02/04/10
02/18/10
03/10/10
04/01/10
04/29/10
05/13/10
11/24/10
12/09/10
12/16/10
07/15/10
07/22/10
08/05/10
08/19/10
09/09/10
09/30/10
10/28/10
11/10/10
0.380%
0.400%
0.320%
0.410%
0.350%
0.250%
0.290%
0.312%
0.190%
0.390%
0.410%
147
162
169
15
22
36
50
71
92
120
133
35
19
13
167
160
146
132
112
90
62
48
364.38
208.22
113.97
1,875.89
1,534.25
1,000.00
1,048.77
957.37
374.79
529.97
539.18
1.090%
1.090%
(M) = DUBUQUE METROPOLITAN AREA SOLID WASTE AGENCY
Account
DMASWA
City
10,600,000
8,546.79
CD Balance Accrued Interest
10,600, 000 8,546.79
0 0.00
8,546 79
Account
Number
Institution
Ending
Balance
APR
Month End
Accrued
Interest
0.00
Print Date: 7/28/2010