Investment Oversight Commission Quarterly Report
From:
To:
Regarding:
City of Dubuque, Investment Oversight Commission
MEMBERS of the 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 30th quarterly report.
The IOC members met on October 26,2000. The transactions reviewed through September 30,
2000 appear to be in compliance with the Articles in the Investment Policy.
Ken TeKippe introduced Dawn Lang the new Assistant Finance Director to the IOC at this
meeting. Chuck Spielman joined the IOC to fill the vacant position. Both Dawn and Chuck bring a
lot of diverse experience to the IOC.
Joseph Veranth, CF A, Executive Vice President with Dana Investment Advisors did a presentation
to the IOC. We had invited Dana in because of all the turnover of city staffand IOC members
sense their last presentation. Dana's emphasis is the use of government agency bonds in the
portfolio they manage for the city. The bonds they invest in are primarily from the Federal National
Mortgage Association. Mr. Veranth did an excellent job of explaining what these bonds are, why
they are appropriate investments and how Dana manages the portfolio for cities like Dubuque.
The IOC did not receive any communication or questions from the public.
Respectfully submitted
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Paul Lassance
Chairman
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