Invest. Oversight Qtrly Report
From:
To:
Regarding:
City of Dubuque, Investment Oversight Commission
MEMBERS ofthe CITY COUNCIL OF DUBUQUE
Quarterly Report
In Accordance with Ordinance No. 50-92 (3) Sec. 2-231, City code, the City of Dubuque
Investment Oversight Commission (IOC) respectfully submits the 45th quarterly report.
The IOC members met on July 22, 2004. The transactions reviewed through June 30, 2004 appear
to be in compliance with the Articles in the Investment Policy.
Dale Repass, Chief Executive Officer and John Gonner, Senior Vice President ÍÌ'om First
Community Trust made a presentation to the IOC of the portfolio they manage for the City. First
Community Trust continues to be very conservative in the portfolio as they are anticipating a rise
in interest rates from the present levels. Based on current interest rate forecasts the current
approach being taken by First Community Trust appears to be prudent.
Ken TeKippe, City Finance Director reviewed the schedule of funds managed by their department.
City funds continue to have a significant amount invested in CDs with various local financial
institutions. We discussed some of the large projects and there funding requirements that are
coming up and recent large expenditures.
The IOC did not receive any communication or questions from the public.
Respectfully submitted
Pau[ Lassance
Paul Lassance
Chairman
Investment Oversight Commission