Quarterly Investment Report 12 31 13Masterpiece on the Mississippi
TO: The Honorable Mayor and City Council Members
FROM: Michael C. Van Milligen, City Manager
SUBJECT: December 31, 2013 Quarterly Investment Report
DATE: January 27, 2014
Dubuque
band
AI- America City
1
2007 • 2012 • 2013
Finance Director Ken TeKippe is transmitting the December 31, 2013 Quarterly
Investment Report covering the period from October 1, 2013 through December 31,
2013.
htilvt4 V'',,,„/).74,
Mic ael 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 23, 2014
SUBJECT: December 31, 2013 Quarterly Investment Report
Dubuque
trati
M- America City
'111'
2007 • 2012 • 2013
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 October 1, 2013 through December 31, 2013.
The report includes: Cash Investments and Investment Earnings Summary
for quarter ended December 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 TANEN
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 December 31, 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
12,521
648,498
5,227,153
25,331,372
6,600,000
2,015,125
11,514
27,634,285
12,521
648,498
5,227,814
25,331,372
6,603,398
2,436,613
89,450
27,639,521
661
3,398
421,488
77,936
5,236
67,480,468
67,989,187
508,719
60,710,954
6,769,514
67,480,468
61,216,275
6,772,912
67,989,187
505,321
3,398
508,719
Quarter
Year -To -Date
117,298
263,542
3,548
6,932
120,846
270,474
25,402
53,494
121
374
25,522
53,867
91,896
210,048
3,427
6,558
95,324
216,606
CV Users V ellaheyV AppDa taALocalATemp'KPgrpwiseACouncil Summary-02014 xis 1/23/2014
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 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
12,521
150,000
75,000
10,000
247,521
158,208
208,398
(417,603)
416,516
27,812
7,062
13,105
413,498
223,032
454,720
420,551
1,928,897
119,511
1,064,422
857,329
4,363,733
3,813,654
4,068,743
3,512,573
1,706,677
761,533
2,035,997
25,331,372
CERTIFICATES OF DEPOSIT:
Dubuque Bank & Trust 2,000,000
EDSB 4,600,000
Total 6,600,000
HIGH YIELD SAVINGS ACCOUNTS:
Dubuque Bank & Trust (Premium savings)
East Dubuque Savings Bank (Advantage savings)
4,023,645
1,203,508
5,227,153
0.4%
0.6%
37.5%
9.8%
7.8%
U.S. TREASURY OBLIGATIONS:
Debt Service Reserve Fund Required for Port Ramp 2,015,125
Total 2,015,125 3.0%
CORPORATE STOCK (Lyons Peony Trust):
11,514
Total 11,514 0.0%
TOTAL CITY MANAGED FUNDS 39,846,183 59.1%
Page 1
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
City of Dubuque
Schedule of City Funds
December 2013
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
FY 14
PORTFOLIO TOTAL
COMPOSITION COST CITY FUNDS
PERCENTAGE BASIS PERCENTAGE
12.6% 809,149
36.8% 2,363,311
0.0%
50.5% 3,242,188
100.0% 6,414,648 9.5%
3.0% 246,204
97.0% 8,092,533
0.0%
0.0%
100.0% 8,338,737 12.4%
31.8% 1,665,089
0.0%
57.2% 2,991,931
11.0% 572,978
100.0% 5,229,998 7.8%
0.6% 45,832
0.0% 0
99.4% 7,604,933
0.0% 136
100.0% 7,650,901 11.3%
10.0%
37.8%
38.4%
13.8%
100.0%
27,634,285 41.0%
2,766,274
10,455,845
10, 596, 865
3,815,302
27,634,285
4.1%
15.5%
15.7%
5.7%
41.0%
67,480,468 100.0%
RECAP OF PORTFOLIO PERCENTAGES Managed City Combined
CASH & EQUIVALENTS 4% 0% 4%
CHECKING / SAVINGS ACCTS 0% 46% 46%
MORTGAGE BACKED SECURITIES 6% 0% 6%
CERTIFICATES OF DEPOSIT 0% 10% 10%
U.S. TREASURY OBLIGATIONS 15% 3% 18%
FEDERAL AGENCIES 16% 0% 16%
Total 41% 59% 100%
Page 2
CITY OF DUBUQUE
MONTHLY INVESTMENT SUMMARY
Month Ending: 12/31/13
First
Community Managed Combined
Dana DB&T Trust US Bank Accounts City Finance Total
COST BASIS ANALYSIS
Cost Basis Prior Month 6,412,432 8,341,106 5,224,626 7,654,148 27,632,312 46,896,253 74,528,564
Additions:
Interest Eamings 6,101 1 7,722 238 14,063 13,661 27,723
Realized Gains (Losses) (618) (777) (1,289) (2,684) (2,684)
Capital Deposits 0
Total Additions 5,483 1 6,945 (1,051) 11,378 13,661 25,039
Subtractions:
Management Fees (2,712) (1,737) (1,074) (1,593) (7,115) (7,115)
Custodian Fees (556) (633) (499) (603) (2,291) (2,291)
Bank Charges (510) (510)
Capital Withdrawals 0
Total Subtractions (3,267) (2,370) (1,573) (2,196) (9,406) (510) (9,916)
Cost Basis Current Month 6,414,648 8,338,737 5,229,998 7,650,901 27,634,285 46,909,403 74,543,687
Net Cash Receipts & (Disbursements) (7,063,220) (7,063,220)
Ending Cost Basis Balance 6,414,648 8,338,737 5,229,998 7,650,901 27,634,285 33,846,183 67,480,467
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
6,520,199 8,348,455 5,174,601 7,669,201 27,712,456
47,384,900 75,097,356
6,504,670
16,495
6,521,165
8,323,555
11
8,323,566
5,114,468 7,626,622 27,569,315
21,502 35,600 73,609
5,135,971 7,662,222 27,642,924
34,248,421
42,518
34,290,939
61,817,736
116,127
61,933,863
0.04%
0.01%
0.24%
0.75
(0.27 %)
(0.30 %)
0.02%
2.07
(0.72 %)
(0.75 %)
(1.01 %)
3.86
(0.06 %)
(0.09 %)
0.34%
1.35
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%
(0.87 %)
(0.14%)
(0.75 %)
3.25%
0.09%
(2.60 %)
0.37%
(1.25%)
0.09%
(2.60 %)
0.37%
(1.25 %)
0.11%
2.71%
0.81%
2.14%
City of Dubuque
Schedule of Certificates of Deposit, Accrued Interest, High Yield Savings Accounts & Unspent Bond Proceeds
As of
December 31, 2013
Certificates of
Deposit:
Certificate
Number
Institution
CIM
Cost
Basis
Purchase
Date
Maturity
Date
Interest
Rate
Days to
Maturity
Accrued
Days
Accrued
Interest
3375
27438
3425
27485
27636
27637
27647
DB &T
EDSB
DB &T
EDSB
EDSB
EDSB
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 11/26/13 05/26/14 0.37%
M 800,000 12/05/13 06/05/14 0.37%
M 1,000,000 12/13/13 07/31/14 0.37%
16
30
45
65
146
156
212
166
152
137
116
35
26
18
1,091.51
1,045.26
975.89
638.16
355.75
211.42
182.96
Totals
6,600,000
4,500.95
Weighted Yield: 0.302%
Weighted Maturity in Days: 94.8
High Yield Savings Accounts
Account
DMASWA
City
CD Balance Accrued Interest
6,600,000 4,500.95
0 0.00
6,600,000
4,500.95
Account
Number
Institution
CIM
Ending
Balance
APR
Month End
Accrued
Interest
671460
DB &T
44444116 EDSB
C 4,023,645
C 1,203,508
0.10%
0.31%
694.71
937.22
5,227,153
1,631.93
U.S. Treasury Bond
Account
c/M
Ending
Maturity
Face Value
Accrued
Number
Institution
Balance
Date
Interest Rate
Interest
2152 -1478
LPL Financial C
2,334,265
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 223,032
C 454,720
C 420,551
C 1,928,897
C 119,511
C 1,064,422
C 857,329
C 4,363,733
C 3,813,654
C 4,068,743
C 3,512,573
C 1,706,677
C 761,533
C 2,035,997
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%
25,331,372
(M) = DUBUQUE METROPOLITAN AREA SOLID WASTE AGENCY
(C) = CITY FUNDS
36,385.52
Print Date: 1/23/2014