Quarterly Investment Report, September 30, 2012TO: The Honorable Mayor and City Council Members
FROM: Michael C. Van Milligen, City Manager
SUBJECT: September 30, 2012 Quarterly Investment Report
DATE: October 23, 2012
Finance Director Ken TeKippe is transmitting the September 30, 2012 Quarterly
Investment Report.
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
THE CITY OF
Dui
Masterpiece on the Mississippi
TO: Michael C. Van Milligen, City Manager
FROM: Kenneth J. TeKippe, Finance Director
DATE: October 23, 2012
S U BJ ECT: September 30.2012 Quarterly Investment Report
Dubuque
had
All-America City
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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 July 1,2012 through September 30, 2012.
The report includes: Cash Investments and Investment Earnings Summary for quarter ended September 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 TANEN
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 September 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
Bond Proceeds
Certificates Of Deposit
US Treasury Securities
Corporate Stock (Perm. Trust)
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
12,901
9,946,596
31, 836, 378
8,600,000
2,015,125
11,514
27,260,607
12,901
9,948,095
31,836,378
8,603,537
2,809,422
91,375
27,729,193
1,499
3,537
794,297
79,861
468,586
79,683,121
70,695,711
8,987,410
79,683,121
81,030,902
72,039,954
8,990,948
81,030,902
1,347,781
1,344,243
3,537
1,347,781
Quarter
133,640
4,754
Year -To -Date
784,540
35,339
138,393
819,879
30,190
271
127,051
798
30,461
127,849
103,450
4,482
107,932
657,490
34,540
692,030
F:\123DATA\ Finance \Investments \Investments 131Council Summary-Q2013 10/22/2012
City Managed Funds
CASH:
Change and Petty Cash Funds
Health Fund Deposit
Prescription & Workers Comp Deposits
City of Dubuque
Schedule of CV Funds
September 2012
Total
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 (comminnd Bldg Rehab 8Econ Dev)
Dubuque Bank & Trust (cable Franchise Equipment Fund)
US Bank (GeneaVAmbulanee)
Premier (Utility)
East Dubuque Savings Bank mutiny)
State Central mum
BBVA Compass
Total
BOND PROCEEDS:
DB &T Series 2009A
DB &T Series 2009B
AT &S Series 2010A
AT &S Series 2010B
AT &S Series 2010C
DB &T Series 2010D
US Bank Series 2010F Capital Loan Notes
DB &T Series 2011A
DB &T Series 2011B
DB &T Series 2012A
DB &T Series 2012B
DB &T Series 2012C
DB &T Series 2012D
Total
CERTIFICATES OF DEPOSIT:
Dubuque Bank & Trust
Premier
EDSB
Total
HIGH YIELD SAVINGS ACCOUNTS:
Dubuque Bank & Trust (Premium Savings)
East Dubuque Savings Bank (Advantage Savings)
TOTAL
COST CITY FUNDS
BASIS PERCENTAGE
12,901
150,000
85,000
247,901
195,655
142,363
2,744,494
125,266
317,516
19,707
5,105
6,153
517
0
3,556,775
305,996
965,668
764,419
2,662,491
761,423
365,627
1,065,581
2,100,885
19,225
4,301,544
5,011,178
6,472,408
7,039,935
31,836,378
6,400,000
1,000,000
1,200,000
8,600,000
5,156,143
998,678
6,154,821
U.S TREASURY OBLIGATIONS:
Debt Service Reserve Required for Port Ramp 2,015,125
Total 2,015,125
CORPORATE STOCK (Lyons Peony Trust)
TOTAL CITY MANAGED FUNDS
Total
Pagel
0.3%
4.5%
40.0%
10.8%
7.7%
2.5%
11,514
11,514 0.0%
52,422,514 65.8%
FYI3
City of Dubuque
Schedule of CV Funds
September 2012
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
Total
Total
Total
PORTFOLIO TOTAL
COMPOSITION COST CITY FUNDS
PERCENTAGE BASIS PERCENTAGE
8.4% 534,867
26.3% 1,665,784
0.0%
65.3% 4,133,003
100.0% 6,333,654
3.5% 283,263
69.8% 5,724,720
26.8% 2,196,873
0.0%
100.0% 8,204,856
38.6% 1,990,628
0.0%
43.6% 2,248,824
17.9% 922,886
100.0% 5,162,338
8.0%
10.3%
6.5%
US BANK:
Cash and Equivalents 4.6% 349,782
US Treasury Obligations 0.0%
US Agencies 95.3% 7,205,388
Mortgaged Backed Securities 0.1% 4,591
Total 100.0% 7,559,760 9.5%
GRAND TOTAL 27,260,607 34.2%
BREAKDOWN BY TYPE OF SECURITY:
Cash
Mortgage Backed Securities
US Treasury Obligations
US Agency Obligations
Mutual Funds
TOTAL FINANCIAL ADVISORS MANAGED FUNDS
TOTAL CITY FUNDS
11.6% 3,158,539
18.6% 5,060,479
27.1% 7,390,505
34.7% 9,454,211
8.1% 2,196,873
100.0% 27,260,607
79,683,122
4.0%
6.4%
9.3%
11.9%
2.8%
34.2%
100.0%
RECAP OF PORTFOLIO PERCENTAGES Managed City Combined
CASH 4% 0% 4%
CHECKING /SAMNGS ACCTS 0% 52% 52%
MORTGAGE BACKED SECURITIES 6% 0% 6%
CERTIFICATES OF DEPOSIT 0% 11% 11%
U.S. TREASURY OBLIGATIONS 9% 3% 12%
FEDERAL AGENCY OBLIGATIONS 12% 0% 12%
MUTUAL FUNDS 3% 0% 3%
Total 34% 66% 100%
FYI3
COST BASIS ANALYSIS
Cost Basis Prior Month
Additions:
Interest Eamings
Realized Gains (Losses)
Capital Deposits
Total Additions
Subtractions:
Management Fees
Custodian Fees
Bank Charges
Capital Withdrawals
CITY OF DUBUQUE
MONTHLY INVESTMENT SUMMARY
Month Ending: 09/30/12
First
Community Managed Combined
Dana DB &T Trust US Bank Accounts City Finance Total
6,330,124.05 8,205,329.66 5,159,651.21 7,549,735.96 27,244,840.88 51,530,612.71 78,775,453.59
8,610.03 2,450.74
(859.34)
6,348.37 14,869.40 32,278.54
(1,658.28) (2.50) (2,520.12)
0.00
15,696.05
7,750.69
(3,666.07)
(554.72)
2,450.74
(2,291.30)
(633.11)
4,690.09
(1,503.71)
(499.95)
14,866.90
(4,240.29)
(602.93)
29,758.42 15,696.05
(11,701.37)
(2,290.71)
0.00
(516.81)
47,974.59
(2,520.12)
0.00
45,454.47
(11,701.37)
(2,290.71)
(516.81)
0.00
Total Subtractions (4,220.79) (2,924.41) (2,003.66) (4,843.22) (13,992.08) (516.81) (14,508.89)
Cost Basis Current Month 6,333,653.95 8,204,855.99 5,162,337.64 7,559,759.64 27,260,607.22 51,545,791.95 78,806,399.17
Net Cash Receipts & (Disbursements) 876,722.24 876,722.24
Ending Cost Basis Balance 6,333,653.95 8,204,855.99 5,162,337.64 7,559,759.64 27,260,607.22 52,422,514.19 79,683,121.41
MARKET VALUE ANALYSIS
Investment Market Value Prior Month (Adjusted for Accruals) 6,504,205.73 8,359,216.97 5,196,727.45 7,665,718.81 27,725,868.96 52,477,001.00 80,202,869.96
Investment Market Value Current Month
Accrued Interest Current Month
Market Value Adjusted for Accruals
Portfolio Returns (computed by Investment Managers)
Monthly Retum Gross of Fees
Monthly Retum Net of Fees
Total Retum Calendar Year to Date 2012 Gross
Effective Duration in Years
Market Indices
6,490,948.11 8,349,661.66 5,177,532.18 7,635,506.19 27,653,648.14 53,295,560.33 80,949,208.47
19,191.92 10,261.36 17,815.49 28,276.32 75,545.09 6,148.61 81,693.70
6,510,140.03 8,359,923.02 5,195,347.67 7,663,782.51 27,729,193.23 53,301,708.94 81,030,902.17
0.24%
0.21 %
1.85%
0.56
0.04%
0.01 %
1.30%
2.05
0.01%
(0.03 %)
1.16%
1.67
0.04%
0.04%
0.77%
1.59
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
(0.26 %)
0.02%
(0.01 %)
3.25%
0.09%
2.95%
0.65%
2.39%
0.08%
2.08%
0.44
1.70%
0.13%
5.15%
1.49%
4.09%
City of Dubuque
Schedule of Certificates of Deposit, Accrued Interest, High Yield Savings Accounts & Unspent Bond Proceeds
As of
September 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
4465889 Premier
2883 DB &T
2908 DB &T
2967 DB &T
2763 DB &T
2796 DB &T
2813 DB &T
26872 EDSB
��������
1,000,000 07/19/12 01/17/13 0.17% 109 73 340.00
1,000,000 08/02/12 01/31/13 0.21% 123 59 339.45
1,000,000 08/17/12 02/15/13 0.25% 138 44 301.37
1,000,000 09/07/12 03/08/13 0.21% 159 23 132.33
1,200,000 05/11/12 11/09/12 0.12% 40 142 560.22
1,000,000 05/24/12 11/22/12 0.20% 53 129 706.85
1,200,000 06/07/12 12/06/12 0.12% 67 115 453.70
1,200,000 06/15/12 12/14/12 0.20% 75 107 703.56
Totals 8,600,000
3,537.48
Weighted Yield: 0.182
Weighted Maturity in Days: 93.1
High Yield Savings Accounts
Account CD Balance Accrued Interest
DMASWA 8,600,000 3,537.48
City 0 0.00
8,600,000 3,537.48
Account
Number
Institution
C/M
Ending
Balance
APR @
Month End
Accrued
Interest
671460
DB &T
44444116 EDSB
C 5,156,143
C 998,678
6,154,821
0.30%
0.40%
1,171.82
327.44
1,499.26
Unspent Bond Proceeds:
Bond Issue
Institution
C/M
Ending
Balance
APR @
Month End
2009A
2009B
2010A
2010B
2010C
2010D
2010F
2011A
2011B
2012A
2012B
2012C
2012D
DB &T
DB &T
AT &S
AT &S
AT &S
DB &T
US Bank
DB &T
DB &T
DB &T
DB &T
DB &T
DB &T
C 305,996
C 965,668
C 764,419
C 2,662,491
C 761,423
C 365,627
C 1,065,581
C 2,100,885
C 19,225
C 4,301,544
C 5,011,178
C 6,472,408
C 7,327,135
0.500%
0.500%
0.300%
0.300%
0.300%
0.420%
0.050%
0.300%
0.300%
0.320%
0.320%
0.320%
0.320%
32,123,578
(M)= DUBUQUE METROPOLITAN AREA SOLID WASTE AGENCY
(C)= CITY FUNDS
Print Date 10 /19/2012