Quarterly Investment Report September 30, 2013Masterpiece on the Mississippi
TO: The Honorable Mayor and City Council Members
FROM: Michael C. Van Milligen, City Manager
SUBJECT: September 30, 2013 Quarterly Investment Report
DATE: October 25, 2013
Dubuque
band
AI- America City
1
2007 • 2012 • 2013
Finance Director Ken TeKippe is transmitting the September 30, 2013 Quarterly
Investment Report covering the period from July 1, 2013 through September 30, 2013.
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: October 25, 2013
SUBJECT: September 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 July 1.2013 through September 30, 2013.
The report includes: Cash Investments and Investment Earnings Summary for quarter ended
September 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 QF DUBUQUE
Cash, Investments and Investment Earnings Summary
For The Quarter Ended September 30, 2013 And Fiscal Year To Date
Description
Carrying
Value
Market Value /
Including
Accrued Interest
Unrealized
Gain (Loss) /
Accrued Interest.
Change & Petty Cash Funds
Checking /Savings Accounts
High Yield Savings Accounts
Unspent 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
F: \123DATA\Finance \Investments \Investments 14 \Council Summary-Q2014
14,709
3,934,913
4,122,573
28,659,014
6,600,000
2,015,125
11,514
27,573,132
14,709
3,934,913
4,123,234
28,659,014
6;803,398
2,436,613
89,450
27,639,521
72,930,980
73,500,852
661
3,398
421,488
77,936
66,389
569,872
65,930,668
7,000,312
72,930,980
66,497,142
7,003,710
73,500,852
566,474
3,398
569,872
Quarter
Year -To -Date
146,244
3,384
146,244
3,384
149,628
149,628
28,092
253
28,092
253
28,345
28,345
118,152
3,131
118,152
3,131
121,283
121,283
10/24/2013
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
September 2013
Total
CHECKING 1 SAVINGS ACCOUNTS:
American Trust & Savings Bank (General)
American Trust & Savings Bank (Housing Rehab & section 8)
Dubuque Bank & Trust (General /Metro/Leisure)
Dubuque Bank & Trust (Cable Franchise Equipment Fund)
US Bank (General /Ambulance)
Premier (Utility)
East Dubuque Savings Bank (utility)
Total
UNSPENT BOND PROCEED INVESTMENT ACCOUNTS:
DB &T Series 2009A
DB &T Series 2009B
AT &S Series 2010A
AT &S Series 2010B
DB &T Series 2010D
US Bank Series 2010F Capital Loan Notes
DB &T Series 2011A
DB &T Series 2012A
DB &T Series 2012B
DB &T Series 2012C
DB &T Series 2012D
DB &T Series 2012E
AT &S Series 2012F
DB &T Series 2012H
Total
FY 14
TOTAL
COST CITY FUNDS
BASIS PERCENTAGE
14,709
150,000
75,000
10,000
249,709
267,809
219,409
2,777,140
403,197
21,436
4,356
6,565
3,699,913
253,375
454,376
457,173
1,927,803
126,403
1,064,348
945,678
4,359,069
4,537,075
5,145, 075
4,435,117
1,996,365
765,440
2,191,717
28, 659, 014
CERTIFICATES OF DEPOSIT:
Dubuque Bank & Trust 3,800,000
EDSB 2,800,000
Total 6,600,000
HIGH YIELD SAVINGS ACCOUNTS:
Dubuque Bank & Trust (Premium savings)
East Dubuque Savings Bank (Advantage savings)
3,119, 644
1,002,928
4,122, 573
0.3%
5.1%
39.3%
9.1%
5.7%
U.S. TREASURY OBLIGATIONS:
Debt Service Reserve Fund Required for Port Ramp 2,015,125
Total 2,015,125 2.8%
CORPORATE STOCK (Lyons Peony Trust):
11,514
Total 11,514 0.0%
TOTAL CITY MANAGED FUNDS 45,357,847 62.2%
Page 1
City of Dubuque
Schedule of City Funds
September 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
FY14
PORTFOLIO TOTAL
COMPOSITION COST CITY FUNDS
PERCENTAGE BASIS PERCENTAGE
10.5% 669,054
36.9% 2,363,311
0.0%
52.6% 3,367,677
100.0% 6,400,042 8.8%
2.9% 239,114
97.1% 8,092,533
0.0%
0.0%
100.0% 8,331,647 11.4%
30.7% 1,601,629
0.0%
57.4% 2,991,931
11.8% 616,544
100.0% 5,210,105 7.1%
4.0% 304,320
0.0% 0
96.0% 7,325,884
0.0% 1,135
100.0% 7,631,339 10.5%
10.2%
37.9%
37.4%
14.5%
100.0%
27,573,132 37.8%
2,814,117
10, 455, 845
10,317,815
3,985,356
27,573,132
3.9%
14.3%
14.1%
5.5%
37.8%
72,930,980 100.0%
RECAP OF PORTFOLIO PERCENTAGES Managed City Combined
CASH & EQUIVALENTS 4% 0% 4%
CHECKING / SAVINGS ACCTS 0% 50% 50%
MORTGAGE BACKED SECURITIES 5% 0% 5%
CERTIFICATES OF DEPOSIT 0% 9% 9%
U.S. TREASURY OBLIGATIONS 14% 3% 17%
FEDERAL AGENCIES 14% 0% 14%
Total 38% 62% 100%
Page 2
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: 09/30/13
First
Community Managed Combined
Dana DB&T Trust US Bank Accounts City Finance Total
6,395,992.26 8,334,005.93 5,202,462.87 7,619,990.12 27,552,451.18 44,459,781.17 72,012,232.36
7,167.51 1.26 10,701.22 13,540.45 31,410.44 13,514.92 44,925.36
(1,210.75) (1,498.18) (2.66) (2,711.59) (2,711.59)
0.00
Total Additions 5,956.76
1.26 9,203.04 13,537.79 28,698.85
(1,352.41) (1,729.38) (1,064.87) (1,586.88) (5,733.54)
(554.78) (630.65) (496.37) (602.25) (2,284.05)
13,514.92
648.27
42,213.77
(5,733.54)
(2,284.05)
648.27
0.00
Total Subtractions (1,907.19) (2,360.03)
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
(1,561.24) (2,189.13) (8,017.59)
648.27
(7,369.32)
6,400,041.83 8,331,647.16 5,210,104.67 7,631,338.78 27,573,132.44 44,473,944.36 72,047,076.81
883,903.42
883,903.42
6,400,041.83 8,331,647.16 5,210,104.67 7,631,338.78 27,573,132.44 45,357,847.42 72,930,980.23
6,501,819.81 8,293,274.71 5,120,527.69 7,649,224.44 27,564,846.65 44,953,912.12 72,518,758.77
6,487,456.00 8,319,752.71 5,131,954.24 7,632,119.68 27,571,282.63
15,747.12 10.68 22,921.29 29,559.14 68,238.23
6,503,203.12 8,319,763.39 5,154,875.53 7,661,678.82 27,639,520.86
45,845,230.64
16,100.31
45,861,330.95
73,416,513.27
84,338.54
73,500,851.81
0.16%
0.13%
0.00%
0.88
0.35%
0.32%
(0.11%)
2.31
0.69%
0.66%
(0.73 %)
4.15
0.19%
0.16%
0.25%
1.34
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%)
0.70%
0.23%
0.74%
3.25%
0.11%
(1.98%)
0.37%
(0.80 %)
0.06%
(1.92 %)
0.30%
(0.83 %)
0.12%
2.13%
0.75%
1.75%
City of Dubuque
Schedule of Certificates of Deposit, Accrued Interest, High Yield Savings Accounts & Unspent Bond Proceeds
As of
September 30, 2013
Certificates of
Deposit:
Certificate
Number
Institution
CIM
Cost
Basis
Purchase
Date
Maturity
Date
Interest
Rate
Days to
Maturity
Accrued
Days
Accrued
Interest
AAAA
27438
3425
27485
3283
3296
27409
DB &T
EDSB
DB &T
EDSB
DB &T
DB &T
EDSB
M 1,000,000 07/18/13 01/16/14 0.24%
M 1,000,000 08/01/13 01/30/14 0.25%
M 1,000,000 08/16/13 02/14/14 0.26%
M 800,000 09/06/13 03/06/14 0.25%
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%
108
122
137
157
57
66
74
74
60
45
24
125
116
108
486.58
412.60
320.55
132.03
719.18
584.77
742.68
Totals
6,600,000
3,398.39
Weighted Yield:
Weighted Maturity in Days:
High Yield Savings Accounts
0.242%
102.5
Account
DMASWA
City
CD Balance Accrued Interest
6,600,000 3,398.39
0 0.00
6,600,000
3,398.39
Account
Number
Institution
CIM
Ending
Balance
APR
Month End
Accrued
Interest
671460
DB &T
44444116 EDSB
C 3,119,644
C 1,002,927
0.15%
0.30%
413.37
247.30
4,122,572
660.67
U.S. Treasury Bond
Account
aM
Ending
Maturity
Face Value
Accrued
Number
Institution
Balance
Date
Interest Rate
Interest
2152 -1478
LPL Financial C
2,424,572
Unspent Bond Proceed Investment Accounts:
02/15/37 4.75%
Bond Issue
Institution
CIM
Ending
Balance
APR
Month End
2009A
2009B
2010A
2010B
2010D
2010F
2011A
2012A
2012B
2012C
2012D
2012E
2012F
2012H
DB &T
DB &T
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 253,375
C 454,376
C 457,173
C 1,927,803
C 126,403
C 1,064,348
C 945,678
C 4,359,069
C 4,537,075
C 5,145,075
C 4,435,117
C 1,996,365
C 765,440
C 2,191,717
0.50%
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%
28,659,014
(M) = DUBUQUE METROPOLITAN AREA SOLID WASTE AGENCY
(C) = CITY FUNDS
12,041.25
Print Date: 10/18/2013