Quarterly Investment Report 12 31 11Masterpiece on the Mississippi
TO: The Honorable Mayor and City Council Members
FROM: Michael C. Van Milligen, City Manager
SUBJECT: December 31, 2011 Quarterly Investment Report
DATE: January 30, 2012
Dubuque
bierd
All- America City
1
2007
Finance Director Ken TeKippe is transmitting the attached December 31, 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
FROM Kenneth J TeKippe, Finance Director
DATE January 27, 2012
SUBJECT December 31, 2011 Quarterly Investment Report
Dubuque
had
All-America City
'I I'
2007
INTROD UCTION
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, 2011 through December 31, 2011
The report includes Cash Investments and Investment Earnings Summary for quarter ended
December 31, 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 Cay The City of Dubuque is
in compliance with the Investment Policy
ACTION TO BE TAKEN
This report is for your review and filing with the Honorable Mayor and City Council
Prepared by
KT /eml
Enclosures
CITY OF DUBUQUE
Cash, Investments and Investment Earnings Summary
For The Quarter Ended December 31, 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
11,551
23,169, 481
9,700,000
2,015,125
11,514
26, 970, 915
11,551
23,172,191
9,706,942
2,791,565
74,143
27, 484,123
2,710
6,942
776,440
62,629
513,208
61,878,586
63,240,515
1,361,929
51, 624, 533
10, 254, 053
61,878,586
52, 979, 520
10, 260, 995
63,240,515
1,354,987
6,942
1,361,929
Quarter
Year -To -Date
136,794
443,281
9,035
22,021
145,829
465,301
31,024
63,793
223
369
31,247
64,163
105,769
379,488
8,813
21,651
114,582
401,139
City of Dubuque
Schedule of City Funds
December 2011
City Managed Funds
TOTAL
COST CITY FUNDS
BASIS PERCENTAGE
CASH:
Change and Petty Cash Funds 11,551
Health Fund Deposit 150,000
Prescription & Workers Comp Deposits 85,000
Total 246,551
CHECKING / SAVINGS ACCOUNTS:
American Trust & Savings Bank (General) 1 2, 853
American Trust & Savings Bank (Housing Rehab & section 8) 288,432
Dubuque Bank & Trust (General/Metro /Leisure) 1,117,568
Dubuque Bank & Trust (Comml/Ind Bldg Rehab & Econ Dev) 122,862
Dubuque Bank & Trust (Cable Franchise Equipment Fund) 220,179
US Bank (General/Ambulance) 2,502
Premier (utility) 1,153
Liberty (Utility) 1,182
East Dubuque Savings Bank (utility) 1,288
State Central (utility) 517
BBVA Compass
Total 1,768,537
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 2011 A
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
350,269
1,640,678
910,076
2,647,978
898,953
1,192, 845
1,150, 567
3,183,088
1,007,623
Total 12,982,078
1,000,000
8,700,000
Total 9,700,000
Total
Total
7,938,226
245,640
8,183, 866
2,015,125
2,015,125
0.4%
2.9%
21.0%
15.7%
13.2%
3.3%
11,514
11,514 0.0%
34,907,671 56.4%
FY12
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
December 2011
Total
Total
Total
Total
PORTFOLIO TOTAL
COMPOSITION COST CITY FUNDS
PERCENTAGE BASIS PERCENTAGE
3.8% 239,879
30.1% 1,892,474
0.0%
66.1% 4,162,315
100.0% 6,294,669
3.2% 262,286
74.6% 6,027,702
22.1% 1,788,085
0.0%
100.0% 8,078,072
4.0% 202,014
0.0%
95.6% 4,881,809
0.4% 22,673
100.0% 5,106,495
3.8% 281,250
0.0%
96.1% 7,201,439
0.1% 8,991
100.0% 7,491,679
GRAND TOTAL 26,970,915
10.2%
13.1%
8.3%
12.1%
43.6%
BREAKDOWN BY TYPE OF SECURITY:
Cash 3.7% 985,428 1.6%
Mortgage Backed Securities 15.6% 4,193,979 6.8%
US Treasury Obligations 29.4% 7,920,176 12.8%
US Agency Obligations 44.8% 12,083,248 19.5%
Mutual Funds 6.6% 1,788,085 2.9%
TOTAL FINANCIAL ADVISOR MANAGED FUNDS 100.0% 26,970,915 43.6%
TOTAL CITY FUNDS 61,878,586 100.0%
RECAP OF PORTFOLIO PERCENTAGES Managed City Combined
CASH 2% 0% 2%
CHECKING / SAVINGS ACCTS 0% 37% 37%
MORTGAGE BACKED SECURITIES 7% 0% 7%
CERTIFICATES OF DEPOSIT 0% 16% 16%
U.S. TREASURY OBLIGATIONS 13% 3% 16%
FEDERAL AGENCY OBLIGATIONS 20% 0% 20%
MUTUAL FUNDS 3% 0% 3%
Total 44% 56% 100%
Page 2
FY12
COST BASIS ANALYSIS
Cost Basis Prior Month
Additions:
Interest Earnings
Realized Gains (Losses)
Capital Deposits
Subtractions:
Management Fees
Custodian Fees
Bank Charges
Capital Withdrawals
Cost Basis Current Month
Net Cash Receipts & (Disbursements)
Ending Cost Basis Balance
CITY OF DUBUQUE
MONTHLY INVESTMENT SUMMARY
Month Ending: 12/31/11
First
Community Managed Combined
Dana DB &T Trust US Bank Accounts City Finance Total
6,289,067.26 8,078,716.51 5,108,469.97 7,483,875.12 26,960,128.86 39,226,181.21 66,186,310.07
8,592.18 4,585.20 127.88 10,517.37 23,822.63 16,006.14 39,828.77
(628.55) (2,352.73) (116.17) (5.01) (3,102.46) (3,102.46)
0.00 0.00
Total Additions 7,963.63 2,232.47 11.71 10,512.36 20,720.17 16,006.14 36,726.31
Total Subtractions
MARKET VALUE ANALYSIS
Investment Market Value Prior Month (Adjusted for Accruals)
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
Effective Duration in Years
Market Indices
(1,811.70) (2,249.24) (1,488.77) (2,106.99) (7,656.70) (7,656.70)
(550.66) (627.71) (497.44) (601.30) (2,277.11) (2,277.11)
(535.40) (535.40)
0.00 0.00
(2,362.36) (2,876.95) (1,986.21) (2,708.29) (9,933.81) (535.40) (10,469.21)
6,294,668.53 8,078,072.03 5,106,495.47 7,491,679.19 26,970,915.22 39,241,651.95 66,212,567.17
(4,333,980.72) (4,333,980.72)
6,294,668.53 8,078,072.03 5,106,495.47 7,491,679.19 26,970,915.22 34,907,671.23 61,878,586.45
6,414,813.37 8,244,674.49 5,142,333.41 7,623,483.96 27,425,305.23 39,991,460.76 67,416,765.99
6,392,562.07 8,247,131.47 5,124,070.17 7,600,680.47 27,364,444.18 35,710,878.52 63,075,322.70
29,006.92 31,843.43 29,645.72 29,182.61 119,678.68 45,514.23 165,192.91
6,421,568.99 8,278,974.90 5,153,715.89 7,629,863.08 27,484,122.86 35,756,392.75 63,240,515.61
0.13%
2.39%
0.48
0.45%
4.92%
2.90
0.27%
3.81%
1.02
0.14%
2.45%
2.00
Average Last Last Calendar Last
Month 12 Months Year to Date 3 Years
90 Day T -Bills
Lehman Aggregate Govt. Bonds
Lehman Short Term Govt. Bonds
Lehman Intermediate Govt. Bonds
Current Prime Rate
0.00%
0.89%
0.06%
0.53%
3.25%
0.10%
9.02%
1.56%
6.08%
0.10%
9.02%
1.56%
6.08%
0.15%
4.01%
1.79%
3.54%
"Returns prior to fees
City of Dubuque
Schedule of Certificates of Deposit, Accrued Interest & High Yield Savings Accounts
As of
December 31, 2011
Certificates of
Deposit:
Certificate
Number
Institution
C/M
Cost
Basis
Purchase
Date
Maturity
Date
Interest
Rate
Days to
Maturity
Accrued
Days
Accrued
Interest
1168517/13
2356
2405
2434
2465
2514
2489
2515
2518
2546
AT &S
DB &T
DB &T
DB &T
DB &T
DB &T
DB &T
DB &T
DB &T
DB &T
M 1,000,000
M 1,200,000
M 1,000,000
M 1,000,000
M 1,000,000
M 500,000
M 1,000,000
M 1,000,000
M 1,000,000
M 1,000,000
07/21/11
08/04/11
08/19/11
09/08/11
09/29/11
11/23/11
11/10/11
11/23/11
12/08/11
12/15/11
01/19/12
02/02/12
02/16/12
03/08/12
03/29/12
04/23/12
05/11/12
05/23/12
06/07/12
06/15/12
0.370%
0.380%
0.300%
0.270%
0.260%
0.150%
0.230%
0.200%
0.200%
0.200%
19
33
47
68
89
114
132
144
159
167
163
149
134
114
93
38
51
38
23
16
1,652.33
1,861.48
1,101.37
843.29
662.47
78.08
321.37
208.22
126.03
87.67
Totals
9,700,000
6,942.31
Weighted Yield: 0.264%
Weighted Maturity in Days: 95.0
Account
DMASWA
City
CD Balance Accrued Interest
9,700,000 6,942.31
0 0.00
9,700,000 6,942.31
Account
Number
Institution
cim
Ending
Balance
APR @
Month End
Accrued
Interest
671460
44444116
DB &T
EDSB
C 7,938,226
C 245,640
0.300%
0.500%
104.31
8,183,866
2,709.94
(M) = DUBUQUE METROPOLITAN AREA SOLID WASTE AGENCY
(C) = CITY FUNDS