Quarterly Investment ReportTHE CITY OF
Dui
Masterpiece on the Mississippi
TO: The Honorable Mayor and City Council Members
FROM: Michael C. Van Milligen, City Manager
SUBJECT: December 31, 2012 Quarterly Investment Report
DATE: January 24, 2013
Dubuque
kital
All- America City
II h/
2012
Finance Director Ken TeKippe is transmitting the December 31, 2012 Quarterly
Investment Report.
kri/sitaly
Michael C. Van Milligen
MCVM:sv
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: January 24, 2013
SUBJECT: December 31, 2012 Quarterly Investment Report
Dubuque
had
All- America City
' I I'
2007
INTRO D 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, 2012 through December 31, 2012.
The report includes:
Cash Investments and Investment Earnings Summary
for quarter ended December 31, 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 Decemer 31, 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
12,301
8,152,277
36,648,201
7,500,000
2,015,125
11,514
27,448,862
12,301
8,153, 934
36,648,201
7,503,730
2,804,198
84,002
27,742,952
1,657
3,730
789,073
72,488
294,090
81,788,280
82,949,318
1,161,038
73,765,824
8,022,456
81,788,280
74,923,133
8,026,185
82,949,318
1,157, 308
3,730
1,161,038
Quarter
Year -To -Date
253,536
496,405
3,463
9,645
256,999
506,050
29,804
62,889
196
330
30,000
63,218
223,732
433,516
3,267
9,316
226,999
442,832
City Managed Funds
CASH:
Change and Petty Cash Funds
Health Fund Deposit
Prescription Fund Deposit
Workers Comp Deposit
City of Dubuque
Schedule of City Funds
December 2012
Total
FY13
TOTAL
COST CITY FUNDS
BASIS PERCENTAGE
12,301
150,000
75,000
10,000
247,301
CHECKING / SAVINGS ACCOUNTS:
American Trust & Savings Bank (General) 38,754
American Trust & Savings Bank (Housing Rehab & Section 8) 248,254
Dubuque Bank & Trust (General/Metro/Leisure) 895,670
Dubuque Bank & Trust (Comml/Ind Bldg Rehab & Eton Dev) 125,297
Dubuque Bank & Trust (Cable Franchise Equipment Fund) 321,340
US Bank (General /Ambulance) 6,418
Premier (Utility) 7,445
East Dubuque Savings Bank (Utility) 11,584
State Central (Utility) 517
BBVA Compass 0
Total 1,655,280
UNSPENT BOND PROCEED INVESTMENT ACCOUNTS:
DB &T Series 2009A 264,479
DB &T Series 2009B 966,711
AT &S Series 2010A 731,691
AT &S Series 2010B 2,504,481
AT &S Series 2010C 118,652
DB &T Series 2010D 345,519
US Bank Series 2010F Capital Loan Notes 1,065,713
DB &T Series 2011A 1,721,879
DB &T Series 2012A 4,300,711
DB &T Series 2012B 4,959,283
DB &T Series 2012C 5,749,847
DB &T Series 2012D 6,871,045
DB &T Series 2012E 3,641,352
AT &S Series 2012F 1,033,166
DB &T Series 2012H 2,373,670
Total 36,648,201
CERTIFICATES OF DEPOSIT:
Dubuque Bank & Trust 5,000,000
Premier 1,000,000
EDSB 1,500,000
Total 7,500,000
HIGH YIELD SAVINGS ACCOUNTS:
Dubuque Bank & Trust (Premium Savings)
East Dubuque Savings Bank (Advantage Savings)
U.S. TREASURY OBLIGATIONS:
Debt Service Reserve Fund Required for Port Ramp
CORPORATE STOCK (Lyons Peony Trust).
TOTAL CITY MANAGED FUNDS
5,262,325
999,672
6,261,997
0.3%
2.0%
44.8%
9.2%
7.7%
2,015,125
Total 2,015,125 2.5%
11,514
Total 11,514 0.0%
Pagel
54,339,418 66.4%
City of Dubuque
Schedule of City Funds
December 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
US BANK:
Cash and Equivalents
US Treasury Obligations
US Agencies
Mortgaged Backed Securities
Total
Total
Total
Total
FY13
PORTFOLIO TOTAL
COMPOSITION COST CITY FUNDS
PERCENTAGE BASIS PERCENTAGE
5.6% 358,095
31.7% 2,015,469
0.0%
62.6% 3,979,325
100.0% 6,352,889
3.0% 248,035
97.0% 8,092,602
0.0%
0.0%
100.0% 8,340,638
34.2% 1,769,988
0.0%
49.6% 2,561,136
16.2% 837,567
100.0% 5,168, 691
11.5% 876,185
0.0%
88.4% 6,706,712
0.0% 3,748
100.0% 7,586,644
GRAND TOTAL 27,448,862
BREAKDOWN BY TYPE OF SECURITY:
Cash & Equivalents
US Treasury Obligations
US Agencies
Mortgage Backed Securities
Mutual Funds
TOTAL FINANCIAL ADVISORS MANAGED FUNDS
TOTAL CITY FUNDS
7.8%
10.2%
6.3%
9.3%
33.6%
11.9% 3,252,303 4.0%
36.8% 10,108, 071 12.4%
33.8% 9,267,847 11.3%
17.6% 4,820,640 5.9%
0.0% 0 0.0%
100.0% 27,448,862 33.6%
81,788,279 100.0%
ECAP OF PORTFOLIO PERCENTAGES
Managed Ci
y
Combined
CASH & EQUIVALENTS 4% 0% 4%
CHECKING /SAVINGSACCTS 0% 54% 54%
MORTGAGE BACKED SECURITIES 6% 0% 6%
CERTIFICATES OF DEPOSIT 0% 9% 9%
U.S. TREASURY OBLIGATIONS 12% 2% 15%
FEDERAL AGENCIES 11% 0% 11%
MUTUAL FUNDS 0% 0% 0%
Total 34% 66% 100%
Paget
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: 12/31/12
First
Community Managed Combined
Dana DB &T Trust US Bank Accounts City Finance Total
6,346,576.37 8,343,560.08 5,168,129.70 7,576,112.60 27,434,378.75 56,433,236.02 83,867,614.77
7,660.76
(793.42)
Total Additions 6,867.34
0.00
(555.18)
1.76 5,668.97 11,930.69 25,262.18 14,122.19 39,384.37
0.00 (3,100.80) 1,321.46 (2,572.76) (2,572.76)
0.00 0.00
1.76 2,568.17 13,252.15 22,689.42 14,122.19 36,811.61
(2,290.55) (1,506.48) (2,117.28) (5,914.31)
(633.68) (500.42) (603.03) (2,292.31)
0.00
(681.04)
(5,914.31)
(2,292.31)
(681.04)
0.00
Total Subtractions (555.18) (2,924.23)
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 Gross of Fees
Monthly Return Net of Fees
Total Return Calendar Year to Date 2012 Gross
Effective Duration in Years
Market Indices
(2,006.90)
(2,720.31) (8,206.62)
(681.04)
(8,887.66)
6,352,888.53 8,340,637.61 5,168,690.97 7,586,644.44 27,448,861.55 56,446,677.17 83,895,538.72
(2,107,259.40) (2,107,259.40)
6,352,888.53 8,340,637.61 5,168,690.97 7,586,644.44 27,448,861.55 54,339,417.77 81,788,279.32
6,513,751.10 8,366,377.76 5,212,865.33 7,663,781.38 27,756,775.57 57,355,091.71 85,111,867.28
6,495,347.77 8,353,531.01 5,185,332.66 7,638,230.42 27,672,441.86 55,164,855.06 82,837,296.92
18,387.67 1,379.10 23,916.21 26,827.06 70,510.04 41,510.91 112,020.95
6,513,735.44 8,354,910.11 5,209,248.87 7,665,057.48 27,742,951.90 55,206,365.97 82,949,317.87
0.03%
0.00%
2.07%
0.63
(0.10 %)
(0.14 %)
1.35%
3.09
(0.03 %)
(0.07 %)
1.55%
2.65
0.05%
0.02%
0.89%
1.41
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%
(0.40 %)
0.03%
(0.18%)
3.25%
0.12%
2.02%
0.51%
1.73%
0.12%
2.02%
0.51%
1.73%
0.13%
5.48%
1.49%
4.25%
City of Dubuque
Schedule of Certificates of Deposit, Accrued Interest, High Yield Savings Accounts & Unspent Bond Proceeds
As of
December 31, 2012
Certificates of
Deposit:
Certificate
Number
Institution
CIM
Cost
Basis
Purchase
Date
Maturity
Date
Interest
Rate
Days to
Maturity
Accrued
Days
Accrued
Interest
4465889
2883
2908
2967
27127
3057
27163
3069
Premier
DB &T
DB &T
DB &T
EDSB
DB &T
EDSB
DB &T
M 1,000,000 07/19/12 01/17/13 0.17%
M 1,000,000 08/02/12 01/31/13 0.21%
M 1,000,000 08/17/12 02/15/13 0.25%
M 1,000,000 09/07/12 03/08/13 0.21%
M 1,000,000 11/26/12 05/27/13 0.32%
M 1,000,000 12/06/12 06/06/13 0.16%
M 500,000 12/21/12 06/21/13 0.19%
M 1,000,000 12/14/12 06/14/13 0.12%
17
31
46
67
147
157
172
165
165
151
136
115
35
25
10
17
768.49
868.77
931.51
661.64
307.81
109.59
26.03
55.89
Totals
7,500,000
3,729.73
Weighted Yield: 0.205%
Weighted Maturity in Days: 95.5
High Yield Savings Accounts
Account
DMASWA
City
CD Balance Accrued Interest
7,500,000 3,729.73
0 0.00
7,500,000
3,729.73
Account
Number
Institution
CIM
Ending
Balance
APR
Month End
Accrued
Interest
671460
DB &T
44444116 EDSB
C 5,262,325
C 999,672
0.20%
0.40%
1,318.74
338.69
6,261,997
1,657.43
U.S. Treasury Bond
Account
aM
Ending
Maturity
Face Value
Accrued
Number
Institution
Balance
Date
Interest Rate
Interest
2152 -1478
LPL Financial C
2,768,075
Unspent Bond Proceed Investment Accounts:
02/15/37 4.75%
Bond Issue
Institution
CIM
Ending
Balance
APR
Month End
2009A
2009B
2010A
2010B
2010C
2010D
2010F
2011A
2012A
2012B
2012C
2012D
2012E
2012F
2012H
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
DB &T
DB &T
C 264,479
C 966,711
C 731,691
C 2,504,481
C 118,652
C 345,519
C 1,065,713
C 1,721,879
C 4,300,711
C 4,959,283
C 5,749,847
C 6,871,045
C 3,641,352
C 1,033,166
C 2,373,670
0.500%
0.300%
0.300%
0.300%
0.300%
0.420%
0.050%
0.300%
0.320%
0.320%
0.320%
0.320%
0.170%
0.350%
0.170%
36,648,201
(M) = DUBUQUE METROPOLITAN AREA SOLID WASTE AGENCY
(C) = CITY FUNDS
36,123.75
Print Date: 1/17/2013