Qtrly Invest Report 12 31 03MEMORANDUM
Januaw 27,2004
TO:
FROM:
SUBJECT:
The Honorable Mayor and City Council Members
Michael C. Van Milligen, City Manager
December 31, 2003 Quarterly Investment Repot[
Finance Director Ken TeKippe is transmitting the attached December 31,2003,
Quarterly Investment Repot[.
Michael
MCVM/jh
Attachment
cc: Barry Lindahl, Corporation Counsel
Cindy Steinhauser, Assistant City Manager
Kenneth J. TeKippe, Finance Director
CITY OF DUBUQUE, IOWA
MEMORANDUM
TO:
FROM:
RE:
DATE:
Michael Van Milligen, City Manager
Kenneth J. TeKippe, Finance Director
December 31, 2003 Quarterly Investment Report
January 20, 2004
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, 2003 through December 31, 2003.
The report includes: Cash Investments and Investment Earnings Summary
for quarter ended December 31, 2003 and fiscal year to date
Schedule of City Funds (2 pages)
Monthly Investment Summary (2 pages)
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/jg
Enclosures
CITY OF DUBUQUE
Cash, Investments and Investment Earnings Sommary
For The Quarter Ended December 31, 2003 & Fiscal 2003-04 YTD
Market Value / Unrealized
Carrying Including Gain (Loss) /
Description Value Accrued Interest Accrued Interest
Deposits, Change & Pet~zy Cash Funds
Checldng/Savings Accounts
Certificates Of Deposit
US Treasury Securities
Corporate Stock
Investment Advisor Accounts
Total Funds
89,550 89,550 0
6,986,613 6,986,613 0
18,006,263 18,055,683 49,420
0 0 0
10,391 60,731 50,340
22,619,676 23,269,284 649,608
47,712,492 48,461,860.22 749,368
Breakdown
City
Metro
Total Combined Funds
37,387,639 38,096,130 708,491
10,324,853 i0,365,730 40,877
47,712,492 48,461,860 749,368
Cash Basis
Gross Earnings:
City
Metro
Combined
Investment Fees:
Me~o
Combined
Net Earnings:
city
Metro
Combined
Quarter
321,603
37,081
358,684
(33,419)
(1821
03,6o )
288,184
36,899
325,083
Year-To-Date I
639,932
64,033
703,965
(83,078)
(238)
(83,3 6)
556,854
63,795
620,649
CITY OF DUBUQUE
SCHEDULE OF CITY FUNDS
FOR MONTH ENDING December 31, 2003
L MANAGED FUNDS
DANA INVESTMENT ADVISORS, INC.:
Cash
Mutual Funds (US Government)
Certificates Of Deposit
US Treasury Obligations
Federal Agency Obligations
DIYBUQUE BANK & TRUST COMPANY:
Cash
Mutual Funds (US Government)
Certificates Of Deposit
US Treasury Obligations
Federal Agency Obligalions
FIRST COMMUNITY TRUST:
Cash
Mutual Funds (US Government)
Certificates Of Deposit
US Treasuxy Obligations
Federal Agency Obligations
US BANI~
Cash
Mutual Funds (US Government)
Certificates Of Deposit
US Treasury Obligations
Federal Aganc~ Obligations
Total
Total
Total
GR~ND TOTAL
PORTFOLIO TOTAL,
COMPOSITION COST CITYFUNDS
PERCENTAGE BASIS PERCENTA GE
0.00% 0.00
1.11% 64,621.17
0.00% 0.00
0.00% 0.00
98.89% 57783~296.60
100.00%
0.00%
16.14%
0.00%
0.00%
83.86%
100.00%
0.00%
2.74%
0.00%
0.00%
97.26%
100.00%
0.00%
0.19%
1.41%
4.26%
94.15%
100.00%
5,847,917.77 12.26%
0.00
1,107,783.08
0.00
0.00
5~756~504.94
6,864,288.02 14.39%
0.00
76,936.54
0.00
0.00
2~734~563.34
2,811,499.88 5.89%
0.00
13,189.92
100,000.00
302,039.06
67680~740.93
7,095,969.91 14.87%
22,619,675.58 47.41%
BREAKDOWN BY TYPE OF SECURITY:
Cash
Mutual Funds (US Government)
Certificates Of Deposit
US Treasury Obligations
Federal Agency Obligations
TOTAL MANAGED FUNDS
0.00% 0.00 0.00%
5.58% 1,262,530.71 2.65%
0.44% 100,000.00 0.21%
1.34% 302,039.06 0.63%
92.64% 207955~105.81 43.92%
100.00% 22,619,675.58 47.41%
Page 1
CITY OF DUBUQUE
SCHEDULE OF CITY FUNDS
FOR MONTH ENDING December 31, 2003
L OTHER FUNDS
CASH
Change Fonds and Petty Cash
Express Scripts & Workers Comp Deposits
CHECKING / SAVINGS ACCOU1VrS:
American Trust & Savings Bank (Cm~ral#Hou.~g Re3a~aea~th)
American Trust & Savings Bank (Am~ea's River-Bond Proceeds)
American Trust & Savings Bank (Am~a's mwr-Viaon lrnva)
Dubuque Bank & Trust (~eae~MeU'atLeisure Services)
Dubuque Bank & Trust (Wate~ Towex/Watex Main-Bead Proceeds)
Dubuque Bank & Trust (Staunwater -Bc~d t~eeeds)
Dubuque Bank & Trust (c~yl~a ?ieket Sales)
US Bank (Gamal~Am~aane~5 Flags)
Liberty Odtiaty)
CERTIFICATES OF DEPOSIT:
American Trust & Savings Bank
Dupaeo CommuniSt Credit Union
Dubuque Bank & Trust Co.
East Dubuque Savings Bank
US Bank
Liberty Bank
Premier Bank
COST
BASIS
9,550.00
80,000.00
TOTAL
CITY FUNDS
PER CENTA GE
89,550.00 0.19%
868,054.34
1,669,849.07
602,112.16
1,289,172.88
301,375.35
1,874,933.62
15,870.69
333,833.91
17,346.52
14,063.99
6,986,612.53 14.64%
0.00
0.00
1,006,263.00
4,500,000.00
3,000,000.00
7,000,000.00
2~500~000.00
18,006,263.00 37.74%
U.S. TREASURY OBLIGATIONS
0.00 0.00%
CORPORATE STOCK ~Lycas Peony Tro~)
10,390.71 0.02%
TOTAL OTHER FUNDS
25,092,816.24 52.59%
47,712,491.82 100.00%
TOTAL Crl'Y FUNDS
RECAi' OF PORTFOLIO PERCENTAGES I
CASH
MANAGED OTHER COMBINED
FUNDS FUNDS TOTAL
0.00% 0.19% 0.19%
CHECKING / SAVINGS ACCTS
0.00%
14.64% 14.64%
CERTIFICATES OF DEPOSIT
2.65%
0.21%
0.00% 2.65%
37.74% 37.95%
U.S. TREASURY OBLIGATIONS
0.63%
0.00% 0.63%
FEDERAL AGENCY OBLIGATIONS
43.92%
0.00% 43.92%
CORPORATE STOCK
0.00%
0.02% 0.02%
Total Page 2 47.41% 52.59% 100.00%
Cost Basis Prior Month
CITY OF DUBUQUE
MONTHLY INVESTMENT SUMMARY
Dana DB&T
Month Ending: Dec-31-03
First
Community Managed Combined
Trust US Bank Accounts City Finance Total
5,835,218.34 6,857,199.82 2,804,819.30 7,067,256.14 22,564,493.60 24,994,652.60 47,559,146.20
Additions:
intorest Earnings 18,325.39 18,446.88 8,353.25 29,348.37 74,473.89 58,842.00 133,315.89
Realized Gains (Losses) (5,058.37) (2,138.57) (1,238.90) (12.23) (8,448.07) (8,448.07)
Capital Deposits 0.00 0.00 0.00 0.00 0.00
Subtractions:
Ma~gemont F~es
Custodian Fe~s
Bank Cha~ges
Capita[ Withdrawals
Cost Basis Current Month
Net Cash Receipts & (Disbursements)
Ending Cost Basis Balance
13,267.02 16,308.31 7,114.35 29,336.14 66,025~82 58,842.00 124,867.82
0.00 (8,593.07) 0.00 0.00 (8,593.07) (8,593.07)
(567.59) (627.04) (433.77) (622.37) (2,250.77) (2,250.77)
0.00 0.00 0.00 0.00 0.00 (1,963.44) (1,963.44)
0.00 0.00 0.00 0,00 0.00 0.00
(567.59) (9,220.11) (433.77) (622.37) (10,843.84) (1,963.44) (12,8ff7.28)
5,847~917.77 6,864,288.02 2,811,499.88 7,098,969.9I 22,619,675.58 25,051,531.16 47,671,206.74
0.00 0.00 0.00 0,00 0.00 41,285.08 41,285.08
5,847~917.77 6~864~288.02 2,811~499.88 7,095~969.91 22,619~675.58 25~092,816.24 47~712,491.82
Total Additions
Total Subtractions
CHANGE IN COST BASIS ADJUSTED FOR ACCRUALS
Cost Basis Current Month
Plus: Accrued Interest Cmrent Month
Less: Aeecued Interest Prior Month
Cost Basis Adjusted for Accruals
5,847,917.77 6,864,288.02 2,811,499.88 7,095,969.91 22,619,675.58 25,051,531.16 47,671,206.74
27,784.66 80,386.91 18,742.27 52,684.99 179,598.83 49,420.21 229,019.04
(26,455.55) (68,321.23) 08,375.30) (60,633.40) (173,785.48) (77,540.13) (251,325.61)
5,849~246.88 6~876~353.70 2,811~866.85 7~088~021.50 22~625,488.93 25~023~411.24 47,648~900.17
Page 1
MARKET F.4LUE.4NALY$I$
Investment Market Value Prior Month
Investment Market Value Current Month
Accrued Interest Current Month
Market Value Adjusted for Accruals
Not Cash Receipts & (Disbursements)
Ending Investment Market Value Adjusted
Por tfoUo Returns
Monthly Retom
Total Return Calendar year to Date 2002
CITY OF DUBUQUE
MONTHLY INVESTMENT SUMMARY
Month Ending: Dec-31-03
First
Community Managed Combined
Dana DB&T Trust US Bank Accounts City Finance Total
5~848~627.11 7,317,235.54 2,823,606.54 7,197,431.32 23,186,900.51 25,118,589.40 48~305~489.91
5,826,308.15 7,268,326.95 2,819,419.79 7,175,629.84 23,089,684.73 25,101,871.36 48,191,556.09
27,784.66 80,386.91 18,742.27 52,684.99 179,598.83 49,420.21 229,019.04
5,854,092.81 7,348,713.86 2,838,162.06 7,228,314.83 23,269,283.56 25,151,291.57 48,420,575.13
0,00 0.00 0.00 0.00 0.00 41,285.08 41,285.08
5~854~092.81 7,348~713.86 2,838~162.06 %228~314.83 23,269~283.56 25~192~576.65 48~461~860.21
0.35% 1.87% 0.68% 0.91% 0.88%
4.84% 7.78% 1.04% 8.82% 4.87%
MarketIndices
Average Last Average Last Calendar
3 Months 12 Months year to Dato
90 Day T-Bills
Lehman Aggregate Govt. Bonds
Lehman Shor~ Term Govt. Bonds
Lehman Intermediate Govt. Bonds
Consumer Price Index
Current Prime Rate*
0.24%I 1.07%I 1.07%
-0.44%I 2.36%I 2.36%
o.15%I 2.o %I 2.o1%
-0.20% 2.29% 2.29%
0.09% 1.71%4.00% 1.71%
*Rate as of 12-31-03
Page 2
City of Dubuque
Schedule of Certificates of Deposit
As of December, 2003
Certificate Purchased Cost Purchase Maturity Last Interest Interest Days to Accrued Accrued]
Number From Basis Date Date Payment Rate Maturity Days Interest[
505640 DB&T (M) 1,006,263.01 05/22/03 01/08/04 11/18/03 1.270% 8 43 1,505.53
9861 EDSB (M) 500,000.00 06/25/03 01/29/04 06/25/03 L360% 29 189 3,521.10
9862 EDSB (M) 1,000,000.00 06/25/03 02/05/04 06/25/03 1.290% 36 189 6,679,73
9902 EDSB OM) 1,000,000.00 07/09/03 03/11/04 07/09/03 1.290°A 71 175 6,184.93
406335 Premier (M) 1,500,000.00 08/07/03 04/01/04 08/07/03 1.495% 92 146 8,970.00
9928 EDSB (M) L000.000.00 09/25/03 05/06/04 09/25/03 1.130% 127 97 3,003.01
349003019 US Bank 1,000,000.00 10/16/03 01/22/04 10/16/03 1.070% 22 76 2,227.95
349003020 US Bank 1,000,000.00 10/16/03 04/08/04 10/16/03 1.100% 99 76 2,290.41
52090 Lil~rty(M) 1,000,000.00 t0/30/03 06/10/04 10/30/03 1.210% 162 62 2,055.34
350026101 US Bank 1,000,000.00 11/13/03 03/18/04 11/13/03 1.110% 78 48 1,459.73
52105 Liberty (M) 1,000,000.00 11/20/03 06/24/04 11/20/03 1.270% 176 41 1,426.58
406668 Premier 1,000,000.00 11/26103 06/01/04 11/26103 1.254% 153 35 1,202.47
10339 EDSB 1,000,000.00 12-11.03 06/10/04 12/11/03 L180% 162 20 646,58
52118 Liberty(M) 1,000,000.00 12.11.03 08/05/04 06/25/03 1.320% 218 189 6,835.07
52119 Liberty (M) 1,000.000.00 12.11.03 07/08/04 12/11/03 1,270% 190 20 695.89
52130 Liberty 1,000.000.00 12.22-03 04/30/04 12122/03 1.270% 121 9 313.15
52136 Liberty 1,000,000.00 12-26-03 06/01/~4 12/26/03 1.480% 153 5 202.74
52137 Liberty 1.000,000.00 12-26-03 05/13/04 12/26/03 1.460% 134 5 200.00
Totals $18,006,263.01
Weighted Yield:
1.272%
Weighted Maturity:
$49,420,21
114.55 Days