Quarterly Investment Report for March 31, 2013THE CFI Y OF
DUB E
Masterpiece on the Mississippi
TO: The Honorable Mayor and City Council Members
FROM: Michael C. Van Milligen, City Manager
SUBJECT: March 31, 2013 Quarterly Investment Report
DATE: April 25, 2013
Dubuque
kettd
All- America City
III/
2012
Finance Director Ken TeKippe is transmitting the March 31, 2013 Quarterly Investment
Report.
ht11144 Pr,
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
Masterpiece on the Mississippi
TO: Michael C. Van Milligen, City Manager
FROM: Kenneth J. TeKippe, Finance Director
DATE: April 25, 2013
SUBJECT: March 31,2013 Quarterly Investment Report
X
INTRODUCTION
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 January 1, 2013 through March 31, 2013.
The report includes:
Cash Investments and Investment Earnings Summary for quarter ended March 31, 2013 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 March 31, 2013 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 (EB Lyons 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
12,371
11,216,820
33,622,684
7,050,000
2,015,125
11,514
27,481,488
12,371
11,217,967
33,622,684
7,053,069
2,691,582
92,077
27,769,886
1,147
3,069
676,457
80,563
288,398
81,410,002
82,459,636
1,049,634
74,034,742
7,375,260
81,410,002
75,081,307
7,378,330
82,459,636
1,046,565
3,069
1,049,634
Quarter
Year -To -Date
145,901
642,306
4,539
14,184
150,441
656,490
32,991
95,879
154
483
33,144
96,363
112,911
546,427
4,385
13,701
117,296
560,128
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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
March 2013
Total
FY13
TOTAL
COST CITY FUNDS
BASIS PERCENTAGE
12,371
150,000
75,000
10,000
247,371
CHECKING / SAVINGS ACCOUNTS:
American Trust & Savings Bank (General) 361,432
American Trust & Savings Bank (Housing Rehab & Section 8) 238,825
Dubuque Bank & Trust (General/Metro/Leisure) 1,453,100
Dubuque Bank & Trust (Cable Franchise Equipment Fund) 323,030
US Bank (General /Ambulance) 11,536
Premier (utility) 10,063
East Dubuque Savings Bank (utility) 17,776
BBVA Compass 0
0.3%
Total 2,415,763 3.0%
UNSPENT BOND PROCEED INVESTMENT ACCOUNTS:
DB &T Series 2009A 259,571
DB &T Series 2009B 453,785
AT &S Series 2010A 618,452
AT &S Series 2010B 2,316,067
AT &S Series 2010C 108,421
DB &T Series 2010D 211,598
US Bank Series 2010F Capital Loan Notes 1,065,845
DB &T Series 2011A 1,450,111
DB &T Series 2012A 4,301,244
DB &T Series 2012B 4,886,986
DB &T Series 2012C 5,607,296
DB &T Series 2012D 6,724,138
DB &T Series 2012E 2,330,695
AT &S Series 2012F 926,618
DB &T Series 2012H 2,361,857
Total 33,622,684 41.3%
CERTIFICATES OF DEPOSIT:
Dubuque Bank & Trust 4,550,000
Premier 1,000,000
EDSB 1,500,000
Total 7,050,000
HIGH YIELD SAVINGS ACCOUNTS:
Dubuque Bank & Trust (Premium Savings)
East Dubuque Savings Bank (Advantage Savings)
7,565,400
1,000,657
8,566,057
U.S. TREASURY OBLIGATIONS:
Debt Service Reserve Fund Required for Port Ramp 2,015,125
Total 2,015,125
CORPORATE STOCK (Lyons Peony Trust):
TOTAL CITY MANAGED FUNDS
Total
Page 1
8.7%
10.5%
2.5%
11,514
11,514 0.0%
53,928,514 66.2%
City of Dubuque
Schedule of City Funds
March 2013
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
US Agencies
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
8.4%
31.7%
0.0%
59.9%
100.0%
537,682
2,015,469
3,814,251
6,367,402
2.9% 239,540
97.1% 8,092,602
0.0%
0.0%
100.0% 8,332,143
36.1% 1,874,911
0.0%
49.4% 2,561,136
14.5% 751,658
100.0% 5,187,705
8.9% 674,683
0.0%
91.1% 6,916,665
0.0% 2,891
100.0% 7,594,238
GRAND TOTAL 27,481,488
BREAKDOWN BY TYPE OF SECURITY:
Cash & Equivalents
US Treasury Obligations
US Agencies
Mortgage Backed Securities
TOTAL FINANCIAL ADVISORS MANAGED FUNDS
12.1%
36.8%
34.5%
16.6%
100.0%
3,326,816
10,108, 071
9,477,800
4,568,800
27,481,488
7.8%
10.2%
6.4%
9.3%
33.8%
4.1%
12.4%
11.6%
5.6%
33.8%
TOTAL CITY FUNDS 81,410,002
100.0%
RECAP OF PORTFOLIO PERCENTAGES
CASH & EQUIVALENTS
CHECKING / SAVINGS ACCTS
MORTGAGE BACKED SECURITIES
CERTIFICATES OF DEPOSIT
U.S. TREASURY OBLIGATIONS
FEDERAL AGENCIES
Total
Managed City Combined
4% 0% 4%
0% 55% 55%
6% 0% 6%
0% 9% 9%
12% 2% 15%
12% 0% 12%
34% 66% 100%
Paget
COST BASIS ANALYSIS
Cost Basis Prior Month
Additions:
Interest Eamings
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: 03/31/13
First
Community Managed Combined
Dana DB&T Trust US Bank Accounts City Finance Total
6,364,830.82 8,335,064.70 5,183,649.22 7,597,115.26 27,480,660.00 51,933,833.38 79,414,493.38
8,098.25 1.15 9,452.83 10,929.45 28,481.68 61,434.73 89,916.41
(1,292.24) 0.00 (3,389.39) (11,087.58) (15,769.21) (15,769.21)
0.00 0.00
Total Additions 6,806.01
1.15
(3,678.39) (2,290.31)
(556.40) (633.04)
6,063.44
(1,506.83)
(500.48)
(158A3) 12,712.47
(2,116.31) (9,591.84)
(602.87) (2,292.79)
0.00
61,434.73
(536.94)
74,147.20
(9,591.84)
(2,292.79)
(536.94)
0.00
Total Subtractions (4,234.79) (2,923.35) (2,007.31) (2,719.18) (11,884.63) (536.94) (12,421.57)
6,367,402.04 8,332,142.50 5,187,705.35 7,594,237.95 27,481,487.84 51,994,731.17 79,476,219.01
1,933,782.54 1,933,782.54
6,367,402.04 8,332,142.50 5,187,705.35 7,594,237.95 27,481,487.84 53,928,513.71 81,410,001.55
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 2013 Gross
Effective Duration in Years
Market Indices
6,543,617.22 8,352,552.04 5,211,781.31 7,663,717.66 27,771,668.23 52,686,929.71 80,458,597.94
6,526,726.53 8,347,894.35 5,194,572.42 7,633,661.38 27,702,854.68 54,674,623.72 82,377,478.40
17,823.59 39.64 17,735.23 31,432.79 67,031.25 15,126.37 82,157.62
6,544,550.12 8,347,933.99 5,212,307.65 7,665,094.17 27,769,885.93 54,689,750.09 82,459,636.02
0.15%
0.12%
0.39%
0.71
(0.02 %)
(0.06 %)
0.02%
2.86
0.04%
0.01%
0.17%
2.48
0.05%
0.02%
0.11%
1.43
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
0.02%
0.09%
0.02%
0.12%
3.25%
0.13%
3.02%
0.66%
2.26%
0.02%
(0.16 %)
0.12%
0.14%
0.13%
5.10%
1.31%
3.96%
City of Dubuque
Schedule of Certificates of Deposit, Accrued Interest, High Yield Savings Accounts & Unspent Bond Proceeds
As of
March 31, 2013
Certificates of
Deposit:
Certificate
Number
Institution
CIM
Cost
Basis
Purchase
Date
Maturity
Date
Interest
Rate
Days to
Maturity
Accrued
Days
Accrued
Interest
4466681
3129
3150
3181
27127
3057
27163
3069
Premier
DB &T
DB &T
DB &T
EDSB
DB &T
EDSB
DB &T
M 1,000,000 01/17/13 07/18/13 0.14%
M 1,000,000 01/31/13 08/01/13 0.21%
M 750,000 02/15/13 08/16/13 0.17%
M 800,000 03/08/13 09/06/13 0.18%
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%
109
123
138
159
57
67
82
75
73
59
44
23
125
115
100
107
270.00
339.45
153.70
90.74
1,099.32
504.11
260.27
351.78
Totals
7,050,000
3,069.37
Weighted Yield: 0.186%
Weighted Maturity in Days: 99.7
High Yield Savings Accounts
Account
CD Balance Accrued Interest
DMASWA 7,050,000
City 0
3,069.37
0.00
7,050,000
3,069.37
Account
Number
Institution
CIM
Ending
Balance
APR
Month End
Accrued
Interest
671460
DB &T
44444116 EDSB
C 7,565,400
C 1,000,657
0.20%
0.40%
806.75
339.95
8,566,057
1,146.70
U.S. Treasury Bond
Account
c/M
Ending
Maturity
Face Value
Accrued
Number
Institution
Balance
Date
Interest Rate
Interest
2152 -1478
LPL Financial C
2,680,672
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 259,571
C 453,785
C 618,452
C 2,316,067
C 108,421
C 211,598
C 1,065,845
C 1,450,111
C 4,301,244
C 4,886,986
C 5,607,296
C 6,724,138
C 2,330,695
C 926,618
C 2,361,857
0.500%
0.300%
0.300%
0.300%
0.300%
0.200%
0.050%
0.300%
0.320%
0.320%
0.320%
0.320%
0.170%
0.350%
0.170%
33,622,684
(M) = DUBUQUE METROPOLITAN AREA SOLID WASTE AGENCY
(C) = CITY FUNDS
10,910.30
Print Date: 4/25/2013