Quarterly Investment Report June 30, 2012 THE CITY OF 41 % *****
Dubuque
DUBB v E All erica City
Masterpiece on the Mississippi
2012
TO: The Honorable Mayor and City Council Members
FROM: Michael C. Van Milligen, City Manager
SUBJECT: June 30, 2012 Quarterly Investment Report
DATE: July 30, 2012
Finance Director Ken TeKippe is transmitting the June 30, 2012 Quarterly Investment
Report.
/7AAh kt1&1j
Michael C. Van Milligen
MCVM:jh
Attachment
cc: Barry Lindahl, City Attorney
Cindy Steinhauser, Assistant City Manager
Teri Goodmann, 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 July 30, 2012
SUBJECT June 30, 2012 Quarterly Investment Report
Dubuque
had
NI- America City
'I 1 1 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 April 1, 2012 through June 30, 2012
The report includes Cash Investments and Investment Earnings Summary
for quarter ended June 30, 2012 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
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 June 30, 2012 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
13,051
44,763,064
10,100,000
2,015,125
11,514
27,129,770
13,051
44,763,064
10,104,839
2,873,385
86,689
27,621,285
4,839
858,260
75,175
491,515
84,032,525
85,462,313
1,429,788
73,545,114
10,487,410
84,032,525
74,970,542
10,491,770
85,462,313
1,425,428
4,360
1,429,788
Quarter
Year -To -Date
133,640
784,540
4,754
35,339
138,393
819,879
30,190
127,051
271
798
30,461
127,849
103,450
657,490
4,482
34,540
107,932
692,030
City Managed Funds
CASH:
Change and Petty Cash Funds
Health Fund Deposit
Prescription & Workers Comp Deposits
City of Dubuque
Schedule of City Funds
June 2012
Total
TOTAL
COST CITY FUNDS
BASIS PERCENTAGE
13,051
150,000
86,153
249,204
CHECKING / SAVINGS ACCOUNTS:
American Trust & Savings Bank pbeneral I 39,943
American Trust & Savings Bank OHousina Fehan r 3e.non aI 186,201
Dubuque Bank & Trust ( /Leisure I 653,064
Dubuque Bank & Trust ) om I/In IBIugFehanr Eton Lie) 125,367
Dubuque Bank & Trust (i -atae Franchise Egwpment Funs]) 265,986
US Bank oseneravmmtuiance) 86,642
Premier (Lmitn 981
Liberty 772
East Dubuque Savings Bank (Lmithn 906
State Central Whhbq 517
BBVA Compass 12,916
Total 1,373,296
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
DB &T Series 2012A
DB &T Series 2012B
DB &T Series 2012C
DB &T Series 2012D
Total
333,974 03
964,455 71
779,017 87
2,659,223 65
770,507 72
514,115 85
1,065,490 75
2,651,008 09
358,264 61
4,343,070 25
5,021,822 04
6,966,389 25
7,325,093 36
33,752,433
CERTIFICATES OF DEPOSIT:
Dubuque Bank & Trust 7,900,000
EDSB 2,200,000
Total 10,100,000
HIGH YIELD SAVINGS ACCOUNTS:
Dubuque Bank & Trust (Premium 3a inasI
East Dubuque Savings Bank Ind ancaae 3a inas)
U.S TREASURY OBLIGATIONS:
Debt Service Reserve Required for Port Ramp
CORPORATE STOCK (Lyons Peony Trust)
8,153,262
1,247,920
9,401,182
0 3%
1 6%
40 2%
12 0%
11 2%
2,015,125
Total 2,015,125 24%
11,514
Total 11,514 0 0%
TOTAL OTHER FUNDS 56,902,754 67.7%
PRUei
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
June 2012
Total
Total
Total
Total
PORTFOLIO TOTAL
COMPOSITION COST CITY FUNDS
PERCENTAGE BASIS PERCENTAGE
8 1% 513,085
240% 1,516,062
0 0%
67 9% 4,289,447
100 0% 6,318,594
3 8% 307,969
74 2% 6,039,808
22 0% 1,788,085
0 0%
1000% 8,135,862
2 6% 134,927
0 0%
77 8% 3,993,014
19 6% 1,006,788
1000% 5,134,729
4 4% 333,727
0 0%
95 5% 7,201,439
0 1% 5,420
100 0% 7,540,586
GRAND TOTAL 27,129,770
7 5%
9 7%
6 1%
9 0%
32 3%
BREAKDOWN BY TYPE OF SECURITY:
Cash 4 8% 1,289,707 1 5%
Mortgage Backed Securities 19 5% 5,301,655 6 3%
US Treasury Obligations 27 9% 7,555,870 9 0%
US Agency Obligations 41 3% 11,194,453 13 3%
Mutual Funds 6 6% 1,788,085 2 1%
TOTAL FINANCIAL ADVISOR MANAGED FUNDS 100 0% 27.129.770 32 3%
TOTAL CITY FUNDS
84,032,524 100.0%
RECAP OF PORTFOLIO PERCENTAGES Managed City Combined
2°o u0o
I = HE' =I II l'- / ,""Ill'-, =1 =T, LI °
14lPTlb"lIE Ew ?I ED 3E?LIFITIE3 boo LI ° boo
?EPTIFIl ="TE3 «IF DEF'SIT LI° 120° 120°
LI TPE",LIP DELI'b"TICAI, ± ° 2°o I I °°
FEGEP L "GbE11? 1 DELIG"TIDI I3 I3 °° LI ° 130°
M I_ITI_I�L FLUE'S 2°o ll ° 2°o
Total 32% 68% 100°°
FHB
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 8 (Disbursements)
Ending Cost Basis Balance
Total Additions
Dana
CITY OF DUBUQUE
MONTHLY INVESTMENT SUMMARY
DB&T
First
Community
Trust
Managed
US Bank Accounts
Month Ending: 06/30/12
City Finance
Combined
Total
6,311,65832 8,135,774 13 5,144,54999 7,533,47989 27,125,46233 53,085,59620 80,211,05853
8,303 08 2,999 03
(814 38)
(6,70828) 11,94036
(1,115 46)
(541)
16,534 19
(1,935 25)
0 00
23,634 02
40,168 21
(1,935 25)
0 00
7,488 70 2,999 03
(2,279 75)
(55302) (631 14)
(7,823 74)
(1,498 62)
(499 10)
11,934 95 14,598 94
(4,22667) (8,00504)
(60257) (2,28583)
0 00
23,634 02
(1,142 70)
38,232 96
(8,005 04)
(2,285 83)
(1,142 70)
0 00
Total Subtractions (55302) (2,91089) (1,99772) (4,82924) (10,29087) (1,14270) (11,43357)
6,318,594 00 8,135,862 27 5,134,728 53 7,540,585 60 27,129,770 40 53,108,087 52 80,237,857 92
3,794,666 53 3,794,666 53
6,318,594 00 8,135,862 27 5,134,728 53 7,540,585 60 27,129,770 40 56,902,754 05 84,032,524 45
MARKET VALUE ANALYSIS
Investment Market Value Prior Month s dio_red for muses 6,465,81304 8,326,72663 5,177,76374 7,652,761 13 27,623,06454 54,051,381 42 81,674,44596
Investment Market Value Current Month 6,446,104 37 8,295,413 42 5,145,057 95 7,623,914 61 27,510,490 35 57,800,462 09 85,310,952 44
Accrued Interest Current Month 22,490 37 27,202 30 33,031 07 28,071 33 110,795 07 40,565 42 151,360 49
Market Value Adjusted for Accruals 6,468,594 74 8,322,615 72 5,178,089 02 7,651,985 94 27,621,285 42 57,841,027 51 85,462,312 93
Portfolio Returns ** icomputed b, In e _tment ra 3n3gemi
Monthly Return
Total Return Calendar Year to Date 2012
Effective Duration in Years
Market Indices
0.17%
1.17%
0.54
(0.01%)
0.75%
2.32
0.05%
0.71%
1.81
0.05%
0.51%
1.53
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
0.01
(0.29 %)
(0.03 %)
(0.13 %)
3.25%
0.07%
8.32%
0.86%
5.01
1.68%
0.05%
1.48%
0.18%
1.07%
0.70%
0.14%
5.65%
1.69%
4.44%
2.11%
** Returns poor to fees
City of Dubuque
Schedule of Certificates of Deposit, Accrued Interest & High Yield Savings Accounts
As of
June 30, 2012
Certificates of Deposit:
Certificate
Number
Institution
C/M
Cost
Basis
Purchase
Date
Maturity
Date
Interest
Rate
Days to
Maturity
Accrued
Days
Accrued
Interest
2587 DB &T M 1,000,000 01/19/12 07/19/12 0 200% 19 163 89315
2610 DB &T M 1,000,000 02/02/12 08/02/12 0 200% 33 149 816 44
26712 EDSB M 1,000,000 02/17/12 08/17/12 0 230% 48 134 844 38
2666 DB &T M 1,000,000 03/09/12 09/07/12 0 210% 69 113 650 14
2693 DB &T M 1,000,000 03/29/12 09/27/12 0 250% 89 93 636 99
2763 DB &T M 1,200,000 05/11/12 11/09/12 0120% 132 50 19726
2796 DB &T M 1,000,000 05/24/12 11/22/12 0 200% 145 37 202 74
2813 DB &T M 1,200,000 06/07/12 12/06/12 0 120% 159 23 9074
2612 DB &T M 500,000 02/02/12 08/02/12 0 200% 33 149 408 22
26872 EDSB M 1,200,000 06/15/12 12/14/12 0 200% 167 15 98 63
Totals
10,100, 000
4,838 69
Weighted Yield: 0.190%
Weighted Maturity in Days: 96.0
Account CD Balance Accrued Interest
DMASWA 10,100,000 4,83869
City 0 0 00
10.100.000 4.838 69
High Yield Savings Accounts
Account
Ending
APR @
Accrued
Number
Institution
can
Balance
Month End
Interest
671460
DB &T
44444116 EDSB
C 8,153,262
C 1,247,920
0 300%
0 420%
9,401,182
0 00
(M) = DUBUQUE METROPOLITAN AREA SOLID WASTE AGENCY
(C) = CITY FUNDS
Print Date 7/20/2012