Investment Report Qtrly 12 31 04
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MEMORANDUM
January 26, 2005
TO:
The Honorable Mayor and City Council Members
FROM:
Michael C. Van Milligen, City Manager
SUBJECT: December 31, 2004 Quarterly Investment Report
Finance Director Ken TeKippe is transmitting the attached December 31,2004
Quarterly Investment Report.
fYlJt4 ~
Michael C. Van Milligen '-
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Attachment I
cc: Barry Lindahl, Corporation Counsel
Cindy Steinhauser, Assistant City Manager
Kenneth J. TeKippe, Finance Director
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Memorandum
TO:
Michael C. Van Milligen, City Manager
FROM:
Kenneth J. TeKippe, Finance Director
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RE:
December 31,2004 Quarterly Investment Report
DATE:
January 19, 2005
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, 2004 through December 31, 2004.
The report includes: Cash Investments and Investment Earnings Summary
for quarter ended December 31, 2004 and fiscal year to date
Schedule of City Funds (2 pages)
Monthly Investment Summary
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 Summary
For The Quarter Ended December 31, 2004 & Fiscal 2005 YTD
Market Value I Unrealized
Carrying Including Gain (Loss) I
Descri tion Value Accrued Interest Accrued Interest
Deposits, Change & Petty Cash Funds 89,881 89,881
Checking/Savings Accounts 3,984,959 3,984,959
Certificates Of Deposit 29,800,000 30,020,481 220,481
US Treasury Securities
Corporate Stock 11,522 64,123 52,601
Investment Advisor Accounts 21,400,907 21,721,717 320,810
Total Funds 55,287,269 55,881,160 593,891
Breakdown
City
Metro
Total Combined Funds
46,360,391
8,926,878
55,287,269
46,948,338
8,932,822
55,881,160
587,947
5,944
593,891
Cash Basis
Gross Earninl!:s:
City
Metro
Combined
I Quarter Y ear- To-Date I
300,009 558,952
25,646 43,980
325,655 602,932
(38,487) (75,018)
(187) (322)
(38,674) (75,340)
261,522 483,934
25,459 43,658
286,981 527,592
Investment Fees:
City
Metro
Combined
Net Earninl!:s:
City
Metro
Combined
CITY OF DUBUQUE
SCHEDULE OF CITY FUNDS
December 31,2004
FY05
MANAGED FUNDS
PORTFOLIO TOTAL
COMPOSITION COST CITY FUNDS
PERCENTAGE BASIS PERCENTAGE
DANA INVESTMENT ADVISORS, INC.:
Cash 0.71% 38,645
Mutual Funds (US Government) 0.00%
Certificates Of Deposit 0.00%
US Treasury Obligations 0.00%
Federal Agency Obligations 99.29% 5,435,130
Total 99.29% 5,473,775 9.90%
DUBUQUE BANK & TRUST:
Cash 5.15% 338,458
Mutual Funds (US Government) 0.00%
Certificates Of Deposit 0.00%
US Treasury Obligations 0.00%
Federal Agency Obligations 94.85% 6,234,364
Total 94.85% 6,572,822 11.89%
FIRST COMMUNITY TRUST:
Cash 3.01% 79,548
Mutual Funds (US Government) 0.00%
Certificates Of Deposit 0.00%
US Treasury Obligations 0.00%
Federal Agency Obligations 96.99% 2,565,161
Total 96.99% 2,644,709 4.78%
US BANK:
Cash 2.03% 136,045
Mutual Funds (US Government) 0.00%
Certificates Of Deposit 1.49% 100,000
US Treasury Obligations 13.66% 916,454
Federal Agency Obligations 82.82% 5,557,103
Total 100.00% 6,709,602 12.14%
GRAND TOTAL 21,400,907 38.71%
BREAKDOWN BY TYPE OF SECURITY:
Cash
Mutual Funds (US Government)
Certificates Of Deposit
US Treasury Obligations
Federal Agency Obligations
TOTAL MANAGED FUNDS
2.77%
0.00%
0.47%
4.28%
92.48%
100.00%
592,695
o
100,000
916,454
19,791,758
21,400,907
1.07%
0.00%
0.18%
1.66%
35.80%
38.71%
Page 1
CITY OF DUBUQUE
SCHEDULE OF CITY FUNDS
December 31,2004
FY05
"j
OTHER FUNDS
COST
BASIS
TOTAL
CITY FUNDS
PERCENTAGE
CASH
Change and Petty Cash Funds
Prescriptions & Workers Comp Deposits
Total
9,881
80,000
89,881
0.16%
CHECKING I SAVINGS ACCOUNTS:
American Trust & Savings Bank (General & Health)
American Trust & Savings Bank (America's River G.O.Bonds)
American Trust & Savings Bank (Housing Rehab & Section 8)
American Trust & Savings Bank (America's River-Vision Iowa)
Dubuque Bank & Trust (General/Metro/Leisure/Greyhound)
Dubuque Bank & Trust (GO Bonds Stormwater Projects)
US Bank (General/Ambulance)
Premier (Utility)
Liberty (Utility)
East Dubuque Savings Bank (Utility)
State Central (Utility)
Total
1,525,974
1,163,053
157,172
1,005
907,455
163,066
24,408
9,383
21,241
11,183
1,019
3,984,959
7.21%
CERTIFICATES OF DEPOSIT:
American Trust & Savings Bank
Dupaco Community Credit Union
Dubuque Bank & Trust
East Dubuque Savings Bank
US Bank
Liberty Bank
Premier Bank
State Central
6,000,000
4,000,000
6,000,000
7,800,000
6,000,000
29,800,000 53.90%
0.00%
11,522 0.02%
33,886,362 61.29%
55,287,269 100.00%
MANAGED OTHER COMBINED
FUNDS FUNDS TOTAL
1.07% 0.16% 1.23%
0.00% 7.21% 7.21%
0.00% 0.00% 0.00%
0.18% 53.90% 54.08%
1.66% 0.00% 1.66%
35.80% 0.00% 35.80%
0.00% 0.02% 0.02%
38.71% 61.29% 100.00%
Total
U.S. TREASURY OBLIGATIONS
CORPORATE STOCK (Lyons Peony Trust)
TOTAL OTHER FUNDS
TOTAL CITY FUNDS
I RECAP OF PORTFOLIO PERCENTAGES
CASH
CHECKING / SAVINGS ACCTS
MUTUAL FUNDS (U.S. GOVERNMENT)
CERTIFICATES OF DEPOSIT
U.S. TREASURY OBLIGATIONS
FEDERAL AGENCY OBLIGATIONS
CORPORATE STOCK
Total
P.ge2
COST BASIS ANALYSIS
Cost Basis PrIor Month
Additions:
Interest Earnings
Realized Gains {Losses}
Capital Deposits
Total Additions
Subtractions:
Management Fees
Custodian Fees
Bank Charges
Capital Withdrawals
Total Subtractions
Cost Basis Current Month
Net Cash Receipts & (Disbursements)
Ending Cost Basis Balance
MARKET VALUE ANAL YSIS
Investment Market Value Prior Month
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 2004
Market Indices
90 Day T-Bills
Lehman Aggregate Govt. Bonds
Lehman Short Tenn Govt. Bonds
Lehman Intennediate Govt. Bonds**
Consumer Price Index
Current Prime Rate*
-
CITY OF DUBUQUE
MONTHLY INVESTMENT SUMMARY
Month Ending:
12/31/04
Dana
First
Community
Trust
Managed
Accounts
Citv Finance
Combined
Total
US Bank
DB&T
5,462.329.59 6.546,440.72 2,639,546.97 6,671,305.42 21.321.622.70
33,412,909.97 54.734,532.67
17,118.86 26.147.98 6,255.24 38,908.75 88,430.83 39,541.76 127.972.59
(5,122",53) (1.160.02) (674.31) (10.18) (6.967.04) (6.967.04)
0.00 0.00
11,996.33 24.987.96 5.580.93 38,898.57 81,463.79 39,541.76 121,005.55
0.00 0.00
(5S0.87) (606.75) (419.12) (602.38) (2,179.12) 2,039.72 (139.40)
0.00
0.00 0.00
(550.87) (606.75) (419.12) (602.38) (2.179.12) 2,039.72 (139.40)
5,473.775.05 6.572.821.93 2,644,708.78 6,709,601.61 21,400.907.37 33,454.491.45 54.855,398.82
0.00 431.870.42 431.870.42
5,473.775.05 6,572.821.93 2.644,708.78 6.709.601.61 21,400,907.37 33,886.361.87 55,287,269.24
5.420,849.74 6,761.931.45 2.629.395.97 6.657.187.39 21,469,364.55 33,462,380.57 54.931.745.12
5,431,340.05 6.785.018.60 2.637,924.73 6.703.112.51 21.557.395.89 33,507,092.14 55.064,488.03
19.002.87 80.185.33 21.590.20 43.542.24 184,320.64 220,480.77 384,801.41
5,450,342.92 6,865.203.93 2.659.514.93 6.746.654.75 21,721.716.53 33,727,572.91 55,449,289.44
0.20% 0.44% 0.44% 0.40.".
2.430/. 2.49% 2.97% 2.44.".
Average Last
3 Months
0.48%
0.49%
0.060/.
0.22%
1.00%
Calendar
Year to Date
1.33%
3.48%
1.07%
2.33%
3.45%
5.25%
*Rate as of 12-31.04
** Returns prior to fees
Average Last
12 Months
1.33%
3.48%
1.07%
2.33"'.
3.45%
City of Dubuque
Schedule of Certificates of Deposit
As of December 31, 2004
Certificate Purchased Cost Purchase Maturity Last Interest Interest Days to Accrued Accrued
Number From Basis Date Date Payment Rate Maturity Days Interest
407076 Premier 1,000,000 05/27/04 01/05/05 5/27/04 1.725% 5 218 10,302.74
350029876 US Bank (M) 1,000,000 05/06/04 01/06/05 5/6/04 1.440% 6 239 9,429.04
407093 Premier 1,000,000 06/02/04 01/13/05 6/2/04 1.710% 13 212 9,932.05
338038561 US Bank 1,000,000 05/13/04 01/19/05 5/13/04 1.670% 19 232 10,614.79
350029957 US Bank 1,000,000 05/10/04 01/20105 5/10104 1.650% 20 235 10,623.29
350030332 US Bank 1,000,000 06/03/04 02/04/05 6/3/04 1.780% 35 211 10,289.86
1168517/116778 AT&S (M) 1,000,000 06/11/04 02/10/05 6/11/04 1.998% 41 203 11,112.16
52346 Liberty 1,000,000 06/30/04 02/11/05 6/30/04 2.350% 42 184 11,846.58
350030333 US Bank 1,000,000 06/03/04 02/18/05 6/3/04 1.820% 49 211 10,521.10
116851-7 AT&S 1,000,000 06/07/04 03/04/05 6/7/04 1.995% 63 207 11,314.11
350030704 US Bank (M) 1,000,000 06/24/04 03/1 0/05 6/24/04 2.030% 69 190 10,567.12
52322 Liberty 1,000,000 06/17/04 03/17/05 6/17104 2.270% 76 197 12,251.78
407188 Premier 1,000,000 07/20/04 03/24/05 7/20/04 2.150% 83 164 9,660.27
52378 Liberty 1,000,000 07/22/04 03/31/05 7/22/04 2.150% 90 162 9,542.47
114729 AT&S 1,000,000 11/10/04 04/06/05 11/10/04 2.510% 96 51 3,507.12
52354 Liberty 1,000,000 07/08/04 04/07/05 7/8/04 2.170% 97 176 10,463.56
11310 EDSB (M) 1,000,000 1 0/19/04 05/04/05 10/19/04 2.532% 124 73 5,064.00
52388 Liberty(M) 1,000,000 08/05/04 05/05/05 8/5/04 2.250% 125 148 9,123.29
11372 EDSB 1,000,000 11/01/04 05/12/05 11/1/04 2.520% 132 60 4,142.47
52413 Liberty(M) 800,000 09/09/04 05/19/05 9/9/04 2.400% 139 113 5,944.11
52478 Liberty 1,000,000 11/10/04 OS/26/05 11/10/04 2.690% 146 51 3,758.63
11311 EDSB (M) 1,000,000 10/19/04 06/01/05 10/19/04 2.531% 152 73 5,062.00
114664 AT&S 1,000,000 1 0/22/04 06/01/05 10/22/04 2.550% 222 70 4,890.41
1144665 AT&S 1,000,000 10/22/04 06/08/05 10/22/04 2.550% 159 70 4,890.41
11290 EDSB (M) 1,000,000 10/14/04 06/16/05 10/14/04 2.530% 167 78 5,406.58
407725 Premier 1,000,000 11/24/04 06/23/05 11/24/04 2.655% 174 37 2,691.37
407811 Premier 1,000,000 12/22/04 06/29/05 12/22/04 2.955% 180 9 728.63
52468 Liberty (M) 1,000,000 11/04/04 07/14/05 11/4/04 2.700% 195 57 4,216.44
114700 AT&S 1,000,000 12/22/04 08/04/05 12/22/04 3.070% 216 9 756.99
407780 Premier (M) 1,000,000 12/08/04 08/11/05 12/8/04 2.900% 223 23 1,827.40
Totals $29,800,000 $220,480.77
Weighted Yield: 2.274%
(M) = DUBUQUE METROPOLITAN AREA SOLID WASTE AGENCY Weighted Maturity: 1 05.04 Days