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Quaterly Investment Report
, ,.<: CITY OF DUBUQUE, IOWA MEMORANDUM April 13, 2000 TO: The Honorable Mayor and City Council Members FROM: Michael C. Van Milligen, City Manager SUBJECT: Quarterly Investment Report Finance Director Duane Pitcher is transmitting the quarterly investment report. Michael C. Van Milligen MCVM/dd Attachment cc: Barry Lindahl, Corporation Counsel Tim Moerman, Assistant City Manager Duane Pitcher, Finance Director VI ':In'~)¡:q(¡O eO!!,'O Á¡O 5'1 :ZII!d £ I Hd~ 00 03/\I3J:3CJ CITY OF DUBUQUE, IOWA MEMORANDUM April 6, 2000 TO: Michael Van Milligen, City Manager FROM: Duane Pitcher, Finance Director SUBJECT: Quarterly Investment Report INTRODUCTION The purpose of the memorandum is to transmit the quarterly investment report as prescn'bed within the City of Dubuque Investment Policy Section 17.0 "Reporting". DISCUSSION This report covers the period beginning January I, 2000, and ending March 31, 2000. The report presents a summary of the investments on hand at the end of the quarter and indicates the earnings recorded for the period and fiscal year end. Also included are reports summarizing investment advisor perfonnance and composition ofthe investment portfolio by type of investment and specific account. The valuation reflects the same basis that the assets are carried on the financial records of the City. The City is in compliance with the Investment Policy. REQUESTED ACTION This report is for your review and filing with the Honorable Mayor and City Council. Attachments --- -"""~' ~,~, CITY OF DUBUQUE, IOWA CASH AND INVESTMENTS SUMMARY AND SUMMARY OF INVESTMENT EARNINGS FOR THE QUARTER ENDED MARCH 31, ~ AND THE ACCUMULATED YEAR-TO-DATE MARKET VALUE UNREALIZED CARRYING (INCLUDING GAIN OR DESCRIPTION VALUE ACCRUED INTEREST) (LOSS) MONEY FUND SAVINGS ACCOUNTS 7,"3,184 7,793,184 0 MUTUAL FUNDS 0 0 0 INVESTMENT POOLS 0 0 0 CERTIFICATES OF DEPOSIT 3,Ul,386 3,U4,601 3,215 REPURCHASE AGREEMENTS 0 0 0 US TREASURY SECURITIES 20,059,790 20,619,268 559,478 FEDERAL AGENCY SECURITIES 0 0 0 CORPORATE STOCK 6,825 136,604 U9,779 INVESTMENT ADVISOR ACCOUNTS 21.427,786 21,296,785 -01,001 INVESTMENTS 52,408,971 52,970,442 561,471 CASH ACCOUNTS 2,011,602 2,011,602 0 TOTAL FUNDS AVAILABLE 54,42o,s73 54,982,044 561,471 METRO CASH BASIS GROSS EARNINGS: CITY METRO COMBINED UARTER YR-TO-DATE 1,456,346 19o,U7 473 36,515 105,888 11 44S 36 632 186 459, 1,3SO,458 so,ø76 189,682 51 1 140 INVESTMENT FEES: CITY METRO COMBINED NET EARNINGS: CITY METRO COMBINED Month Endin8: Mar-31-OO Managed Custodial Combined DB&T Mercantile Acœunts Acœunt Citv Finance Total 7,055,678.40 7,231,352.04 21,331,772.55 0,00 31,443,492,63 52,775,265.18 MONTHLY INVESTMENT SUMMARY ~ BEGINNING BALANCE COST BASIS Dana 7,044,742.11 ADDITIONS: DIVIDENDS & INTEREST 38,216.32 22,765.22 41,503.72 102,485.26 0.00 117,856.20 220,341.46 REALIZED GAINS (LOSSES) (1,311.66) (3,297.32) (20.34) (4,629,32) 0.00 0.00 (4,629,32) TOTAL ADDmONS 36,904.66 19~7.9O 41~83.38 97,855.94 0.00 117,856.20 215,712.14 SUBTRACTIONS: MANAGEMENT FEES CUSTODIAL FEES BANK CHARGES 0.00 0.00 0.00 613.58 613.72 615.58 0.00 0.00 0.00 613.58 613.72 615.58 7,081,033.19 7,074,532,58 7,272,219.84 TOTAL SUBTRACI10NS lENDING BALANCE (COST BASIS) I MONTIIL Y INCREASE (DECREASE) 0,00 0.00 0.00 1,842.88 0.00 0.00 0.00 0,00 1,915.76 1,842.88 0.00 1,915.76 0,00 1,842.88 1,915.76 3,758.64 21,427,785,61 0.00 31,559,433.07 52,987,218.68 36,291.08 18,854.18 40,867.80 96,013.06 0.00 211,953.50 CAPITAL DEPOSITS CAPITAL WITHDRAWALS COST BASIS CARRIED FORWARD 115,940,44 0.00 0.00 0.00 0.00 0.00 1,433,354.44 1,433,354.44 0.00 0,00 0.00 0,00 0.00 0.00 0.00 7,081,033.19 7,074,532.58 7,272,219.84 21,427,785.61 0.00 32,992,787.51 54,420,573.12 ;;;,";;';';';'.;.;::M~ø.N:~~~~::m ::::m::W: COST BASIS CURRENTMON'IH 7,081,033.19 7,074,532.58 7,272,219.84 LESS: Acaued Interest Prior Month 56,668.77 86,186.01 88,442.38 PLUS: Acaued Interest CUrrent Mooth 57,822.10 100,225.26 90,341.92 7,082,186.52 7,088,57L83 7,274,119.38 AlllllloUud Belli",: OIrrtIII Mo1Jl/ Anllllo/Iud Belli", FY1D rOllI/ BeIII,n FY1D AIIn"ø/lud BeIII,n Er99 6.38% 5.30% 4.88% 5.06% 5.59% 5.10% 3,96% 5.46% 7.10% 5.66% 3.02% 5.88% 21,427,785.61 0.00 31,559,433.07 52,987,218.68 231,297.16 0.00 542,301.37 773,598.53 248,389.28 0.00 562,692.53 811,08L81 21,444,877.73 0,00 31,579,824.23 53,024,701.96 6,36% 0,00% 5.20% 5.67% 5.36% 0.00% 4,71% 4.98% 5.41% 0.00% 6.28% 5.92% MONTHLY INVESTMENT SUMMARY ;:!~~¥~~;ø.ì$i.$¡/j:!¡ I2w Managed Acoounts mw: Mercantile SECURITY MARKET VALUE ACCRUED INTEREST ENDING MARKET VALUE Month Endin8: Mar-31-O0 Custodial Aooount CitY Finance Combined Total 6,947,070.94 6,962,073.45 7,139,250.99 21,048,395.38 0.00 33,122,566.13 54,170,961.51 57,822.10 100,225.26 90,341.92 248,389.28 0.00 562,692.53 811,081.8\ 7,004,893.04 7,062,298.71 7,229,592.91 21,296,784.66 0.00 33,685,258.66 54,982,043.32 CAPITAL DEPOSITS CAPITAL WITHDRAWALS Adjusted Eodin8 Market Value BEGINNING MARKEr VALUE 0.00 0.00 0.00 0.00 0,00 0.00 0.00 0.00 7,004,893.04 7,062,298.71 7,229,'92.9\ 21,296,784.66 6,982,559.14 7,01',492.00 7,162,423.05 21,160,474.19 0.32% 0.66% 0.93% 0,64% 2-3 4-5 4-5 Perc.lflag. Cltang.1n Market Vø/ue DURATION RANGE (YEARS) Ave. LIst Markell_.. \2 Mo Average Last 3 Months' Y1D --- 90 Day T-Bi1Is 5.09% 5.28% 0.87% Lebman Short Term Go,,1. Bonds 0.66% 3.00% 2.97% Lebman Ag. Govt. Bonds 1.57% 3.64% -2.23% Consumer Prioe IDdex 2.08% 2.40% 0.20% Cunmt Prime Rate 8.75% 8.75% .. .. u u. 'Annualized 02:29-00 2 0.00 1,433,354.44 ],433,354,44 0.00 0.00 0.00 0,00 32,251,904.22 53,548,688.88 0.00 32,111,040.62 53,271,514.81 0.00% 0,44% 0.52% 0-\ Trea.ary Prior CMT Rat.. Month I-Year 6.23% 2-Year 6.52% 3-Year 6.47% 5-Year 6.39% U. S, Treasury Constant Maturity Rates From Federal Reserve Publication H.15 C=t Month ~. 6.'2% 6.47% 6.35% SCHEDULE OF CITY FUNDS Monlh Ending: Mar-31-o0 PORTFOLIO TOTAL COST CITY FUNDS PERCENTAGE BASIS PERCENf AGE IDANA INVESTMENT ADVISORS, INC.: CASH 0.00% 0.00 mUST SAVINGS ACCOUNT 0.00% 0.00 MUTUAL FUNDS (US GOVERNMEN1) 3.44% 243,820.98 CERTIFICA1ES OF DEPOSIT 0.00% 0.00 US TREASURY OBLIGATIONS 0.00% 0.00 FEDERAL AGENCY OBLIGATIONS 96.56% 6,837,212.21 TOTAL 100.00% 7,081,033.19 13.01% ¡DUBUQUE BANK & TRUST COMPANY: CASH 0.00% 0.00 mUST SAVINGS ACCOUNT 0.00% 0.00 MUTUAL FUNDS (US GOVERNMEN1) 5.43% 384,314.05 CERTIFICA1ES OF DEPOSIT 0.00% 0.00 US TREASURY OBLIGATIONS 21.28% 1,505,632.50 FEDERAL AGENCY OBLIGATIONS 73.29% 5,184,586.03 TOTAL 100.00% 7,074,532.58 13,()O% IMERCANTILE BANK MIDWEST CASH 0.00% 0.00 mUST SAVINGS ACCOUNT 0.00% 0.00 MUTUAL FUNDS (US GOVERNMENT) 5.39"1Ó 392,319.84 CERTIFICA1ES OF DEPOSIT 5.50% 400,000.00 US TREASURY OBLIGATIONS 55.18% 4,012,985.15 FEDERAL AGENCY OBLIGATIONS 33.92% 2,466,914.85 TOTAL 100.00% 7,272,219.84 13.36% TOTAL MANAGED FUNDS 21,427,785.61 39.37% CUSTODIAL ACCOUNT: AT&S BANK CASH 0.00% 0.00 mUST SAVINGS ACCOUNT 0.00% 0.00 MUTUAL FUNDS (US GOVERNMENI') O,()O% 0.00 CERTIFICATES OF DEPOSIT 0.00% 0.00 US TREASURY OBLIGATIONS O,()O% 0,00 FEDERAL AGENCY OBLIGATIONS 0.00% 0.00 TOTAL 0.00% 0.00 0.00% BREAKDOWN BY TYPE OF SECURITY: CASH 0.00% 0.00 0.00% mUST SAVINGS ACCOUNT 0.00% 0.00 0.00% MUTUAL FUNDS (US GOVERNMEN1) 4.76% 1,020,454.87 1.88% CERTIFICA1ES OF DEPOSIT 1.87% 400,000.00 0.74% US TREASURY OBLIGATIONS 25.75% 5,518,617.65 10.14% FEDERAL AGENCY OBLIGATIONS 67.62% 14,488,713.09 26.62% Total MlllUlged Funds and Custodùú Acct. 100.00% 21,427,785.61 39.37% lof3 ~, "v.~. """"""""""~"."""...,.,_.",."e",~,"'~ SCHEDULE OF CITY FUNDS Monlh Ending: Mar-31-OO APPROXIMATE IDENTIFICATION RETURN IEXPENSE ADVANCES CHANGE FUNDS & PC ADVANCES N/A PETIY CASH PURCHASES N/A INSURANCE DEPOSITS N/A TOTAL ICASH N/A IBANK N.O.W. ACCOUNTS: AMERICAN TRUST & SAVINGS BANK 2. 95()()% DUBUQUE BANK & TRUST CO. 2.5000% FIRST AR BANK IOWA, NA 2.0000% MERCANTILE BANK MIDWEST 2.0000% TOTAL ¡BANK MONEY FUND SAVINGS ACCTS: AMERICAN TRUST & SAVINGS BANK 4.3800% DUBUQUE BANK & TRUST CO. 2.8500% TOTAL I TRUST POOLS: IP AIT N/A TOTAL IMUTUAL FUNDS (US GOVERNMENT): N/A TOTAL ICERTIFICATES OF DEPOSIT: DUBUQUE BANK & TRUST COMPANY 5.6700% AMERICAN TRUST & SAVINGS BANK 6.4700% DUPACO COMMUNITY CREDIT UNION 6.7000% FIRST AR BANK IOWA, NA TOTAL Iu.s. TREASURY OBLIGATIONS: cmCAGO FEDERAL RESERVE BANK 5.3190% IREPURCHASE AGREEMENTS: ICORPORATE SECURITIEs: AT&T & REGIONAL STOCK N/A COST CITY FUNDS BASIS PERCENTAGE 18,006.00 280.42 1 , 000 . 00 19,286.42 0.04% 12,801.02 0.02% 511.689.80 1,127,570.49 5,359.32 334,895.09 1,979,514.70 3.64% 5,779,853.70 2,013,329.91 7,793,183.61 14.32% 0.00 0.00 O.()()O/o 0.00 0.00 O.()()O/o 812,358.99 1,000,000.00 1,309,027.39 0.00 3,121,386.38 5.74% 20,059,790.00 36.86% 0.00 O.()()O/o 6,825.38 0.01% 32,992,787.51 60.63% 54,420,573.12 100.00% TOTAL OTHER FUNDS TOTAL CITY FUNDS 2 of3 "-.~------ ,.- -~-~ "-~""'.-~. -~' "- .--.--'- -.- -- -- - --- . SCHEDULE OF CITY FUNDS Monlh Ending: Mar-31-OO MANAGED OTIIER COMBINED FUNDS FUNDS TOTAL EXPENSE ADVANCES 0.00% 0.04% 0.04% CASH 0.00% 0.02% 0.02% BANKN.O.W. ACCOUNTS 0.00% 3.64% 3.64% BANK MONEY FUND SAVINGS ACCTS 0.000/0 14.32% 14.32% TRUST SAVINGS ACCOUNTS 0.00% 0.00% 0.000/0 TRUST POOLS 0.000/0 0.00% 0.00% MUTUAL FUNDS (US GOVERNMEN1) 1.88% 0.000/0 1.88% CERTIFICATES OF DEPOSIT 0.74% 5.74% 6.47% REPURCHASE AGREEMENTS 0.00% 0.000/0 0.000/0 US TREASURY OBLIGATIONS 10.14% 36.86% 47.00% FEDERAL AGENCY OBLIGATIONS 26.62% 0.000/0 26.62% CORPORATESECURnITES 0.00% 0.01% 0.01% TOTAL 39.37% 60.63% 100.000/0 3 of 3 ."-- _. ~ ".-.".,~ - --.-.-.------ CIty or Dubuque 03ß112OOO Schedule or Tnuury Securillea Par Iuue Maturity Coat Days to Accrued CUSIPNo. VaIue Date Date Price Basis Yield Maturity Interest 912795DT5 $1,000,000.00 04/29/1999 04/27/2000 95.460 $954,600,00 4.704% 26.00 41,907.69 912795DT5 $1,000,000.00 04/29/1999 04/27/2000 95.460 $954,600.00 4.704% 26.00 41,907.69 912795DWS $1,000,000.00 11/1811999 05/18/2000 97.364 $973,640.00 5.355% 47.00 19,263.08 912795DX6 $1,000,000.00 OS/27/1999 OS/25/2000 95.319 $953,190.00 4.857% 54.00 39,608.46 912795DX6 $1,000,000.00 OS/27/1999 OS/25/2000 95.319 $953,190.00 4.857% 54.00 39,608.46 912795EAS $1,000,000.00 12116/1999 06115/2000 97.265 $972,650.00 5.562% 75.00 15,778.85 912795EB3 $1,000,000,00 06124/1999 0612212000 95.056 $950,560.00 5.144% 82.00 38,030.77 912795EB3 $3,000,000.00 06124/1999 0612212000 95.056 $2,851,680.00 5.144% 82.00 114,092.31 912795EU1 $2,000,000.00 01/27/2000 07/27/2000 97.209 $1,944,180.00 5,679% 117.00 19,322.31 912795EW7 $1,000,000.00 02110/2000 08110/2000 97.083 $970,830.00 5.943% 131.00 7,853.46 912795EE7 $1,000,000.00 08119/1999 08117/2000 95.000 $950,000.00 5.205% 138.00 30,769.23 912795EF4 $1,500,000.00 09/16/1999 09/14/2000 94.944 $1,424,160.00 5.267% 166,00 40,836.92 912795EF4 $1,500,000.00 09/16/1999 09/14/2000 94.944 $1,424,160.00 5.267% 166.00 40,836.92 912795EG2 $1,000,000.00 10/14/1999 10/1212000 94.828 $948,280.00 5.394% 194.00 23,870.77 912795EHO $1,000,000.00 1111211999 11109/2000 94.787 $947,870.00 5.454% 222.00 19,961.63 912795EJ6 $1,000,000.00 12/09/1999 12107/2000 94.591 0 $945,910.00 5.655% 250.00 16,643.08 912795FR7 $1,000,000.00 02/03/2000 02101/2001 94.029 $940,290.00 6.280% 306.00 9,186.15 Tolab $21,000,000.00 $20,059,790.00 $559,477,78 Weighted Yield: 5.319% Cost BasIs: $20,059,790.00 Weighted Maturity: 123.00 Days F:\123DATA\FINANCE\ INVEST\MONTH\ TBILL --------.---"-.... City of DubuC ue Sdleduie of Certificates of Deposit A1J of: 03131/1000 Last Interest ID Par PurdIue Maturity Payment Cost CompOlD1ded Days to Accrued Number Vaiue Date Date Date Basis Yield Maturity Interest 501112 S812,358,99 09/10/99 09/10/00 03/10/00 S812,358.99 5.833% 163.00 2,650.07 27862 $673,151.97 10/14/99 10/14/00 03131/00 $673,151.97 5.833% 197.00 0,00 29018 $635,875.42 03/29/00 03/29/01 03/29/00 $635,875,42 6.929% 363.00 197.56 104639 SI,OOO,ooo.OO 03/29/00 03/29/01 03/29/00 SI,OOO,OOO.OO 6.500% 363.00 367.12 Totals S3,121,386.38 $3,121,386.38 $3,214.75 Weighted Yield: 6.270% Cost Basis: S3,12I,386.38 Weighted Maturity: 275.15 Days Certificate Descriptions Certificate Purdlased Number From 501112 0.8.& T. Co. 27862 Dupaco 29018 Dupaco 104639 AT&S. Rate Compoanded Basis Rate Yield Interest Terms 181/365 5.670% 5.833% Earnings credited Semi-Annually and added 10 principal. 90/360 5.670% 5.833% Earnings credited Quarterly and added to principal. 90/360 6.700% 6.929% Earnings credited Quarterly and added to principal. 365/365 6.47 6.500% Earnings credited at matwity. :1 I j F:\123DATA\FINANCE\ INVEST\MONTH CD