Quarterly Investment Report_September 30, 2011Masterpiece on the Mississippi
Dubuque
All- America City
i I r
2007
TO: The Honorable Mayor and City Council Members
FROM: Michael C. Van Milligen, City Manager
SUBJECT: September 30, 2011 Quarterly Investment Report
DATE: November 1, 2011
Finance Director Ken TeKippe is transmitting the attached September 30, 2011
Quarterly Investment Report.
Michael C. Van Milligen
MCVM:jh
Attachment
cc: Barry Lindahl, City Attorney
Cindy Steinhauser, Assistant City Manager
Kenneth J. TeKippe, Finance Director
Masterpiece on the Mississippi
TO: Michael C. Van Milligen, City Manager
(I1 `y` ?'
FROM: Kenneth J. TeKippe, Finance Director
RE: September 30, 2011 Quarterly Investment Report
DATE: October 27, 2011
INTRODUCTION
Dubuque
All-America City
2007
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 July 1, 2011 through September 30, 2011.
The report includes: Cash Investments and Investment Earnings Summary
for quarter ended September 30, 2011 and fiscal year to date
Schedule of City Funds
Monthly Investment Summary
Schedule of Certificates of Deposit and 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 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 September 30, 2011 And Fiscal Year To Date
Description
Carrying
Value
Market Value /
Including
Accrued Interest
Unrealized
Gain (Loss) /
Accrued Interest
Deposits, Change & Petty Cash Funds
Checking /Savings Accounts
Certificates Of Deposit
US Treasury Securities
Corporate Stock
Investment Advisor Accounts
Total Funds
Breakdown
City
Metro
Total Combined Funds
Cash Basis
Gross Earnings:
City
Metro
Combined
investment Fees:
City
Metro
Combined
Net Earnings:
City
Metro
Combined
11,776
21,676, 893
9,200,000
2,015,125
11,514
26, 895, 013
11,776
21,678,417
9,207,690
2,737,020
69,452
27,269,883
1,524
7,690
721,895
57,938
374,870
59,810,321
60, 974, 238
1,163,917
50,001,413
9,808,908
59,810,321
51,157,640
9,816,598
60,974,238
1,156,227
7,690
1,163,917
Quarter
Year -To -Date
306,487
723,813
12,985
45,521
319,472
769,334
32,769
90,086
147
606
32,915
90,692
273,718
633,727
12,839
44,916
286,557
678,642
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
Mutual Funds
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
City of Dubuque
Schedule of City Funds
September 2011
Total
Total
Total
Total
GRAND TOTAL
FY12
PORTFOLIO TOTAL
COMPOSITION COST CITY FUNDS
PERCENTAGE BASIS PERCENTAGE
1.0% 61,444
30.2% 1,892,474
0.0%
68.8% 4,314,964
100.0% 6,268,882
3.1% 249,985
77.4% 6,241,489
19.5% 1,576,203
0.0%
100.0% 8,067,676
12.6% 640,367
0.0%
86.9% 4,420,289
0.6% 28,293
100.0% 5,088,949
10.5%
13.5%
8.5%
3.4% 257,410
0.0%
96.4% 7,201,439
0.1% 10,656
100.0% 7,469,505 12.5%
26,895,013 45.0%
BREAKDOWN BY TYPE OF SECURITY:
Cash 4.5% 1,209,207
Mortgage Backed Securities 16.2% 4,353,913
US Treasury Obligations 30.2% 8,133,963
US Agency Obligations 43.2% 11,621,728
Mutual Funds 5.9% 1,576,203
TOTAL FINANCIAL ADVISOR MANAGED FUNDS 100.0% 26,895,013
TOTAL CITY FUNDS
2.0%
7.3%
13.6%
19.4%
2.6%
45.0%
59,810,321 100.0%
RECAP OF PORTFOLIO PERCENTAGES Managed City Combined
CASH 2% 0% 2%
CHECKING / SAVINGS ACCTS 0% 36% 36%
MORTGAGE BACKED SECURITIES 7% 0% 7%
CERTIFICATES OF DEPOSIT 0% 15% 15%
U.S. TREASURY OBLIGATIONS 14% 3% 17%
FEDERAL AGENCY OBLIGATIONS 19% 0% 19%
MUTUAL FUNDS 3% 0% 3%
Total 45% 55% 100%
Page 2
City Managed Funds
CASH:
Change and Petty Cash Funds
Health Fund Deposit
Prescription & Workers Comp Deposits
CHECKING / SAVINGS ACCOUNTS:
American Trust & Savings Bank (General)
American Trust & Savings Bank (Housing Rehab & Section 8)
Dubuque Bank & Trust (General /Metro /Leisure)
Dubuque Bank & Trust (Comm) /Ind Bldg Rehab & Econ Dev)
Dubuque Bank & Trust (Cable Franchise Equipment Fund)
US Bank (General /Ambulance)
Premier (Utility)
Liberty (Utility)
East Dubuque Savings Bank (Utility)
State Central (Utility)
BBVA Compass
BOND PROCEEDS:
DB &T Series 2009A
DB &T Series 2009B
AT &S Series 2010A
AT &S Series 2010B
AT &S Series 2010C
Liberty Bank Series 2010D
US Bank Series 2010F Capital Loan Notes
DB &T Series 2011A
DB &T Series 2011 B
CERTIFICATES OF DEPOSIT:
American Trust & Savings Bank
Dubuque Bank & Trust
HIGH YIELD SAVINGS ACCOUNTS:
Dubuque Bank & Trust (Premium Savings)
East Dubuque Savings Bank (Advantage Savings)
U.S TREASURY OBLIGATIONS:
Debt Service Reserve Required for Port Ramp
CORPORATE STOCK (Lyons Peony Trust):
TOTAL OTHER FUNDS
City of Dubuque
Schedule of City Funds
September 2011
Total
Total
Total
Total
FY12
TOTAL
COST CITY FUNDS
BASIS PERCENTAGE
11,776
150,000
85,000
246,776 0.4%
167,847
159,443
1,362,511
119,589
202,471
9,595
4,514
5,585
5,724
517
2,037,796
362,878
1,764,563
971,408
2,648,120
901,422
1,544,592
490,062
3,741,779
1,007,175
13,431,999
2,000,000
7,200,000
9,200,000
5,726,769
245,329
5,972,098
3.4%
22.5%
15.4%
10.0 ° /Q
2,015,125
Total 2,015,125 3.4%
11,514
Total 11,514 0.0%
Page 1
32,915,308 55.0%
CITY OF DUBUQUE
MONTHLY INVESTMENT SUMMARY
Month Ending: 09/30/11
First
Community Managed Combined
Dana DB &T Trust US Bank Accounts City Finance Total
COST BASIS ANALYSIS
Cost Basis Prior Month 6,266,793.83 8,065,914.25 5,093,162.53 7,457,326.11 26,883,196.72 23,028,976.73 49,912,173.45
Additions:
Interest Earnings 7,095.71 1,466.70 (2,326.97) 14,908.03 21,143.47 12,022.33 33,165.80
Realized Gains (Losses) (846.11) 3,150.20 94.81 (18.56) 2,380.34 2,380.34
Capital Deposits 0.00 0.00
Total Additions 6,249.60 4,616.90 (2,232.16) 14,889.47 23,523.81 12,022.33 35,546.14
Subtractions:
Management Fees (3,611.28) . (2,226.42) (1,484.40) (2,108.94) (9,431.04) (9,431.04)
Custodian Fees (549.75) (628.31) (496.71) (601.63) (2,276.40) (2,276.40)
Bank Charges (606.74) (606.74)
Capital Withdrawals 0.00 0.00
Total Subtractions (4,161.03) (2,854.73) (1,981.11) (2,710.57) (11,707.44) (606.74) (12,314.18)
Cost Basis Current Month 6,268,882.40 8,067,676.42 5,088,949.26 7,469,505.01 26,895,013.09 23,040,392.32 49,935,405.41
Net Cash Receipts & (Disbursements) 9,874,915.69 9,874,915.69
Ending Cost Basis Balance 6,268,882.40 8,067,676.42 5,088,949.26 7,469,505.01 26,895,013.09 32,915,308.01 59,810,321.10
MARKET VALUE ANALYSIS
Investment Market Value Prior Month (Adjusted for Accruals) 6,389,614.86 8,246,829.16 5,127,731.48 7,634,836.64 27,399,012.14 23,554,580.79 50,953,592.93
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 2011
Market Indices
6,354,620.47 8,220,007.53 5,103,004.60 7,592,250.00 27,269,882.60 33,683,100.68 60,952,983.28
27,098.64 17,034.35 34,369.28 27,633.71 106,135.98 21,254.77 127,390.75
6,381,719.11 8,237,041.88 5,137,373.88 7,619,883.71 27,376,018.58 33,704,355.45 61,080,374.03
0.03% (0.08 %) 0.24% N/A
1.86%
Average Last
Month
4.29%
Last
12 Months
3.36%
Calendar
Year to Date
Last
3 Years
N/A
90 Day T -Bills
Lehman Aggregate Govt. Bonds
Lehman Short Term Govt. Bonds
Lehman Intermediate Govt. Bonds
Current Prime Rate
0.00%
1.53%
(0.13%)
0.25%
3.25%
0.14%
5.58%
1.23%
3.72%
0.10%
8.11%
1.35%
5.36%
0.22%
6.43%
2.74%
6.38%
"" Returns pnor to fees
City of Dubuque
Schedule of Certificates of Deposit, Accrued Interest & High Yield Savings Accounts
As of
September 30, 2011
Certificates of
Deposit:
Certificate
Number
Institution
C/M
Cost
Basis
Purchase
Date
Maturity
Date
Interest
Rate
Days to
Maturity
Accrued
Days
Accrued
Interest
11685/7/12
2274
2282
1168517/13
2356
2405
2435
2465
2239
AT &S
DB &T
DB &T
AT &S
DB &T
DB &T
DB &T
DB &T
DB &T
M 1,000,000
M 1,000,000
M 1,000,000
M 1,000,000
M 1,200,000
M 1,000,000
M 1,000,000
M 1,000,000
M 1,000,000
05/26/11
06/09/11
06/16/11
07/21/11
08/04/11
08/19/11
09/08/11
09/29/11
05/12/11
11/23/11
12/08/11
12/15/11
01/19/12
02/02/12
02/17/12
03/08/12
03/29/12
11/10/11
0.440%
0.430%
0.420%
0.370%
0.380%
0.300%
0.270%
0.260%
0.430%
54
69
76
111
125
140
160
181
41
127
113
106
71
57
42
22
1
141
1,530.96
1,331.23
1,219.73
719.73
712.11
345.21
162.74
7.12
1,661.10
Totals
9,200,000
7,689.93
Weighted Yield:
0.367%
Weighted Maturity in Days: 106.7
Account
DMASWA
City
CD Balance Accrued Interest
9,200,000 7,689.93
0 0.00
9,200,00b
7,689.93
High Yield Savings Accounts
Account
Ending
APR @
Accrued
Number
Institution
C/M
Balance
Month End
Interest
671460
44444116
DB &T
EDSB
C 5,726,769
C 245,329
0.400%
0.530%
1,417.73
105.86
5,972,098
1,523.59
(M) = DUBUQUE METROPOLITAN AREA SOLID WASTE AGENCY
(C) = CITY FUNDS