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Quarterly Investment Report 6 30 13Masterpiece on the Mississippi TO: The Honorable Mayor and City Council Members FROM: Michael C. Van Milligen, City Manager SUBJECT: June 30, 2013 Quarterly Investment Report DATE: July 31, 2013 Dubuque band AI- America City 1 2007 • 2012 • 2013 Finance Director Ken TeKippe is transmitting the June 30, 2013 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 Masterpiece on the Mississippi TO: Michael C. Van Milligen, City Manager FROM: Kenneth J. TeKippe, Finance Director DATE: July 26, 2013 SUBJECT: June 30, 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 April 1, 2013 through June 30, 2013. The report includes: Cash Investments and Investment Earnings Summary for quarter ended June 30, 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 June 30, 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 15,021 10,034,705 32,400,385 6,350,000 2,015,125 11,514 27,520,421 15,021 10,035,982 32,400,385 6,352,812 2,538,549 90,494 27,598,208 1,277 2,812 523,424 78,980 77,786 78,347,171 79,031,451 684,280 71,208,573 7,138,599 78,347,171 71,890,041 7,141,410 79,031,451 681,468 2,812 684,280 Quarter Year -To -Date 114,613 756,920 3,742 17,926 118,355 774,846 30,854 126,733 180 664 31,034 127,397 83,760 630,187 3,562 17,263 87,321 647,449 CV Users V ellaheyA AppDa taALocaIATemp'KPgrpwiseACouncil Summary- 02013_3 xis 7/19/2013 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 June 2013 Total FY13 TOTAL COST CITY FUNDS BASIS PERCENTAGE 15,021 150,000 75,000 10,000 250,021 CHECKING / SAVINGS ACCOUNTS: American Trust & Savings Bank(General) 287,572 American Trust & Savings Bank (Housing Rehab & Section 8) 247,599 Dubuque Bank & Trust(General/Metro/Leisure) 2,347,791 Dubuque Bank & Trust (Cable Franchise Equipment Fund) 213,416 US Bank (General /Ambulance) 97,079 Premier (utility) 11,844 East Dubuque Savings Bank (utility) 24,561 Total 3,229,861 UNSPENT BOND PROCEED INVESTMENT ACCOUNTS: DB &T Series 2009A 259,767 DB &T Series 2009B 454,148 AT &S Series 2010A 572,498 AT &S Series 2010B 2,227,467 AT &S Series 2010C 108,490 DB &T Series 2010D 149,878 US Bank Series 2010F Capital Loan Notes 1,065,979 DB &T Series 2011A 1,232,971 DB &T Series 2012A 4,169,846 DB &T Series 2012B 4,843,385 DB &T Series 2012C 5,611,097 DB &T Series 2012D 6,294,002 DB &T Series 2012E 2,262,993 AT &S Series 2012F 828,940 DB &T Series 2012H 2,318,924 Total 32,400,385 CERTIFICATES OF DEPOSIT: Dubuque Bank & Trust 4,350,000 Premier 1,000,000 EDSB 1,000,000 Total 6,350,000 HIGH YIELD SAVINGS ACCOUNTS: Dubuque Bank & Trust (Premium Savings) East Dubuque Savings Bank (Advantage Savings) 5,067,941 1,501,902 6,569,843 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 0.3% 4.1% 41.4% 8.1% 8.4% 2.6% 11,514 11,514 0.0% 50,826,749 64.9% City of Dubuque Schedule of City Funds June 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 GRAND TOTAL BREAKDOWN BY TYPE OF SECURITY: Cash & Equivalents US Treasury Obligations US Agencies Mortgage Backed Securities TOTAL FINANCIAL ADVISORS MANAGED FUNDS TOTAL CITY FUNDS FY13 PORTFOLIO TOTAL COMPOSITION COST CITY FUNDS PERCENTAGE BASIS PERCENTAGE 6.7% 430,326 37.0% 2,363,311 0.0% 56.2% 3,589,261 100.0% 6,382,899 8.2% 3.0% 247,309 97.0% 8,092,533 0.0% 0.0% 100.0% 8,339,842 10.6% 31.1% 1,613,282 0.0% 55.8% 2,898,868 13.1% 682,981 100.0% 5,195,131 6.6% 3.6% 275,286 0.0% 96.4% 7,325,243 0.0% 2,020 100.0% 7,602,549 9.7% 9.3% 38.0% 37.2% 15.5% 100.0% 27, 520,421 35.1% 2,566,203 10, 455, 845 10, 224,111 4,274,262 27,520,421 3.3% 13.3% 13.0% 5.5% 35.1% 78,347,171 100.0% RECAP OF PORTFOLIO PERCENTAGES Managed City Combined CASH & EQUIVALENTS 3% 0% 4% CHECKING / SAVINGS ACCTS 0% 54% 54% MORTGAGE BACKED SECURITIES 5% 0% 5% CERTIFICATES OF DEPOSIT 0% 8% 8% U.S. TREASURY OBLIGATIONS 13% 3% 16% FEDERAL AGENCIES 13% 0% 13% Total 35% 65% 100% Page 2 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 Dana CITY OF DUBUQUE MONTHLY INVESTMENT SUMMARY DB &T First Community Trust US Bank Managed Accounts 6,381,828.31 8,342,774.93 5,195,598.57 7,615,889.40 27,536,091.21 6,982.39 (1,678.02) 5,304.37 (3,678.46) (555.60) 1.34 2,681.29 4,685.81 14,350.83 (1,572.76) (15,833.62) (19,084.40) Month Ending: 06/30/13 Combined City Finance Total 61,047,938.13 88,584,029.33 16,675.63 31,026.46 (19,084.40) 0.00 1.34 (2,301.53) (632.32) 1,108.53 (1,076.46) (499.34) (11,147.81) (4,733.57) (1,589.72) (8,646.17) (602.82) (2,290.08) 16,675.63 (727.98) 11,942.06 (8,646.17) (2,290.08) (727.98) 0.00 Total Subtractions (4,234.06) (2,933.85) Cost Basis Current Month Net Cash Receipts & (Disbursements) Ending Cost Basis Balance 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 (1,575.80) (2,192.54) (10,936.25) (727.98) (11,664.23) 6,382,898.62 8,339,842.42 5,195,131.30 7,602,549.05 27,520,421.39 61,063,885.78 88,584,307.16 (10,237,316.17) (10,237,316.17) 6,382,898.62 8,339,842.42 5,195,131.30 7,602,549.05 27,520,421.39 50,826,749.22 78,346,990.99 6,525,594.05 8,333,118.80 5,185,739.21 7,656,497.12 27,700,949.18 61,732,959.72 89,433,908.90 6,493,795.40 8,302,973.77 5,111,351.52 17,681.06 11.04 25,183.94 6,511,476.46 8,302,984.81 5,136,535.46 7,615,473.86 31,736.98 7,647,210.84 27,523,594.55 74,613.02 27,598,207.57 51,393,761.43 39,481.24 51,433,242.67 78,917,355.98 114,094.26 79,031,450.24 (0.08 %) (0.11 %) 0.09% 0.82 (0.33 %) (0.36 %) (0.41%) 2.55 (0.91 %) (0.94 %) (1.17 %) 3.10 (0.09 %) (0.23 %) (0.03 %) 1.51 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 (1.09 %) (0.07 %) (0.80 %) 3.25% 0.13% (1.51 %) 0.34 (0.59 %) 0.05% (2.04 %) 0.02% (1.23 %) 0.13% 2.96% 0.86% 2.33% City of Dubuque Schedule of Certificates of Deposit, Accrued Interest, High Yield Savings Accounts & Unspent Bond Proceeds As of June 30, 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 3283 3296 27409 Premier DB &T DB &T DB &T DB &T DB &T EDSB 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 05/28/13 11/26/13 0.21% M 800,000 06/06/13 12/05/13 0.23% M 1,000,000 06/14/13 12/13/13 0.25% 18 32 47 68 149 158 166 164 150 135 114 33 24 16 606.58 863.01 471.58 449.75 189.86 120.99 110.03 Totals 6,350,000 2,811.80 Weighted Yield: Weighted Maturity in Days: High Yield Savings Accounts 0.199% 91.5 Account DMASWA City CD Balance Accrued Interest 6,350,000 2,811.80 0 0.00 6,350,000 2,811.80 Account Number Institution CIM Ending Balance APR Month End Accrued Interest 671460 DB &T 44444116 EDSB C 5,067,941 C 1,501,902 0.20% 0.36% 833.08 444.40 6,569,843 1,277.48 U.S. Treasury Bond Account c/M Ending Maturity Face Value Accrued Number Institution Balance Date Interest Rate Interest 2152 -1478 LPL Financial C 2,503,157 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 259,767 C 454,148 C 572,498 C 2,227,467 C 108,490 C 149,878 C 1,065,979 C 1,232,971 C 4,169,846 C 4,843,385 C 5,611,097 C 6,294,002 C 2,262,993 C 828,940 C 2,318,924 0.50% 0.30% 0.30% 0.30% 0.30% 0.20% 0.05% 0.30% 0.32% 0.32% 0.32% 0.32% 0.17% 0.35% 0.17% 32,400,385 (M) = DUBUQUE METROPOLITAN AREA SOLID WASTE AGENCY (C) = CITY FUNDS 35,391.96 Print Date: 7/19/2013