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