Quarterly Investment ReportTHE CITY OF
DUB E
~-~-~
MEMORANDUM
January 29, 2007
TO: The Honorable Mayor and City Council Members
FROM: Michael C. Van Milligen, City Manager
SUBJECT: December 31, 2006 Quarterly Investment Report
Finance Director Ken TeKippe is transmitting the attached December 31, 2006
Quarterly Investment Report.
~~~ ~~~.
Mich el C. Van Milligen
MCVM/jh
Attachment
cc: Barry Lindahl, City Attorney
Cindy Steinhauser, Assistant City Manager
Kenneth J. TeKippe, Finance Director
THE CITY OF
DUB E
Memorandum
TO: Michael C. Van Milligen, City Manager
FROM: Kenneth J. TeKippe, Finance Director ~- C ,~~
RE: December 31, 2006 Quarterly Investment Report
DATE: January 25, 2007
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, 2006 through December 31, 2006.
The report includes: Cash Investments and Investment Earnings Summary
for quarter ended December 31, 2006 and fiscal year to date
Schedule of City Funds (2 pages)
Monthly Investment Summary
Schedule of Certificates of Deposit
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.
REQUESTED ACTION
This report is for your review and filing with the Honorable Mayor and City Council.
KT/jg
Enclosures
CITY OF DUBUQUE
Cash, Investments and Investment Earnings Summary
For The Quarter Ended December 31, 2006 & Fiscal 2007 YTD
Market Value / Unrealized
Carrying Including Gain (Loss) /
Description Value Accrued Interest Accrued Interest
Deposits, Change & Petty Cash Funds
Checking/Savings Accounts
Certificates Of Deposit
US Treasury Securities
Corporate Stock
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
93, 050 93, 050 -
8,779,567 8,779,567 -
31,000,000 31,417,333 417,333
11, 514 83, 070 71, 556
22,848,453 22,949,224 100,771
62,732,584 63,322,244 589,660
54,274,848 54,706,732 431,884
8,457,736 8,615,512 157,776
62,732,584 63,322,244 589,660
Quarter Year-To-Date
715,841
139,870 1,107,729
228,388
855,711 1,336,117
(38,345)
174 (74,009)
326
(38,519) (74,335)
677,496
139,696 1,033,720
228,062
817,192 1,261,782
CITY OF DUBUQUE
SCHEDULE OF CITY FUNDS
December 31, 2006
FY07
MANAGED FUNDS
PORTFOLIO TOTAL
COMPOSITION COST CITY FUNDS
PERCENTAGE BASIS PERCENTAGE
DANA INVESTMENT ADVISORS, INC.:
Cash 1.62% 94,139
Mutual Funds (US Government) 0.00%
Certificates Of Deposit 0.00%
US Treasury Obligations 0.00%
Federal Agency Obligations 98.38% 5,705,645
Total 100.00% 5,799,784 9.25%
DUBUQUE BANK 8~ TRUST:
Cash 4.39% 310,906
Mutual Funds (US Government) 0.00%
Certificates Of Deposit 0.00%
US Treasury Obligations 0.00%
Federal Agency Obligations 95.61% 6,772,867
Total 100.00% 7,083,773 11.29%
FIRST COMMUNITY TRUST:
Cash 0.22% 6,064
Mutual Funds (US Government) 0.00%
Certificates Of Deposit 0.00%
US Treasury Obligations 0.00%
Federal Agency Obligations 99.78% 2,812,013
Total 100.00% 2,818,077 4.49%
US BANK:
Cash 2.78% 198, 922
Mutual Funds (US Government) 0.00%
Certificates Of Deposit 0.00%
US Treasury Obligations 7.00% 500,289
Federal Agency Obligations 90.22% 6,447,608
Tota/ 100.00% 7,146,819 11.39%
GRAND TOTAL 22,848,453 36.42%
BREAKDOWN BY TYPE OF SECURITY:
Cash 2.67% 610,031 0.97%
Mutual Funds (US Government) 0.00% 0 0.00%
Certificates Of Deposit 0.00% 0 0.00%
US Treasury Obligations 2.19% 500,289 0.80%
Federal Agency Obligations 95.14% 21,738,133 34.65%
TOTAL MANAGED FUNDS 100.00% 22,848,453 36.42%
Page 1
CITY OF DUBUQUE
SCHEDULE OF CITY FUNDS
December 31, 2006
FY07
OTHER FUNDS TOTAL
COST CITY FUNDS
BASIS PERCENTAGE
CASH
Change and Petty Cash Funds 8,050
Prescriptions & Workers Comp Deposits 85,000
Total 93, 050 0.15%
CHECKING /SAVINGS ACCOUNTS:
American Trust & Savings Bank (General & Health) 1,764,953
American Trust & Savings Bank (America's River Bonds) 441,863
American Trust & Savings Bank (Housing Rehab & Section 8) 95,938
American Trust & Savings Bank (Stormwater Bonds) 0
Dubuque Bank & Trust (General/Metro/Leisure) 2,097,136
Dubuque Bank & Trust (DICW Bonds) 872,674
Dubuque Bank & Trust (Comm)/Ind Bldg Rehab & Econ Dev) 65,626
Dubuque Bank & Trust (Cable Franchise Equipment Fund) 196,382
US Bank (General/Ambulance) 16,298
Premier (Utility) 27,447
Liberty (Utility) 8,544
East Dubuque Savings Bank (Stormwater Bonds) 2,801,754
East Dubuque Savings Bank (Parking Bonds) 381,952
East Dubuque Savings Bank (Utility) 6,003
State Central (Utility) 2,gg7
Total 8, 779, 567 14.00%
CERTIFICATES OF DEPOSIT:
American Trust & Savings Bank 5,200,000
Dubuque Bank & Trust 2,000,000
Dupaco Community Credit Union
East Dubuque Savings Bank 6,800,000
Liberty Bank 7,000,000
Premier Bank 6,000,000
State Central 3,000,000
US Bank 1,000,000
Total 31, 000, 000 49.42%
U.S. TREASURY OBLIGATIONS 0.00%
CORPORATE STOCK (Lyons Peony Trust) 11,514 0.02%
TOTAL OTHER FUNDS 39,884,131 63.58%
TOTAL CITY FUNDS 62,732,584 100.00%
RECAP OF PORTFOLIO PERCENTAGES MANAGED FUNDS OTHER FUNDS COMBINED TOTAL
CASH 0.97% 0.15% 1.12%
CHECKING /SAVINGS ACCTS 0.00% 14.00% 14.00%
MUTUAL FUNDS (U.S. GOVERNMENT) 0.00% 0.00% 0.00%
CERTIFICATES OF DEPOSIT 0.00% 49.42% 49.42%
U.S. TREASURY OBLIGATIONS 0.80% 0.00% 0.80%
FEDERAL AGENCY OBLIGATIONS 34.65% 0.00% 34.65%
CORPORATE STOCK 0.00% 0.02% 0.02%
Total 36.42% 63.58% 100.00%
Page 2
CITY OF DUBUQUE
MONTHLY INVESTMENT SUMMARY
Month Ending: 12/31/06
First
Community Managed Combined
Dana DB&T Trust US Bank Accounts City Finance Total
COST BAS/S ANALYSIS
Cost Basis Prior Month 5,780,752.15 7,050,439.28 2,811,073.12 7,116,324.82 22,758,589.37 37,254,392.33 60,012,981.70
Additions:
Interest Earnings 23,600.64 36,462.25 7,614.25 30,277.06 97,954.20 224,177.49 322,131.69
Realized Gains (Losses) (4,004.69) 337.67 (179.68) 835.76 (3,010.94) (3,010.94)
Capital Deposits 0.00 0.00
Total Additions 19,595.95 36,799.92 7,434.57 31,112.82 94,943.26 224,177.49 319,120.75
Subtractions:
Management Fees (2,842.10) (2,842.10) (2,842.10)
Custodian Fees (563.61) (624.39) (430.88) (618.17) (2,237.05) (2,237.05)
Bank Charges (2,333.24) (2,333.24)
Capital Withdrawals 0.00 0.00
Total Subtractions (563.61) (3,466.49) (430.88) (618.17) (5,079.15) (2,333.24) (7,412.39)
Cost Basis Current Month 5,799,784.49 7,083,772.71 2,818,076.81 7,146,819.47 22,848,453.48 37,476,236.58 60,324,690.06
Net Cash Receipts & (Disbursements) 2,407,894.28 2,407,894.28
Ending Cost Basis Balance 5,799,784.49 7,083,772.71 2,818,076.81 7,146,819.47 22,848,453.48 39,884,130.86 62,732,584.34
MARKET VALUE ANALYSIS
Investment Market Value Prior Month ~nq~m°ar«n~~„~5~ 5,757,816.49 7,233,605.56 2,797,818.81 7,102,653.28 22,891,894.14 37,724,001.26 60,615,895.40
Investment Market Value Current Month 5,751,477.16 7,214,412.58 2,767,375.04 7,049,524.37 22,782,789.15 39,955,687.21 62,738,476.36
Accrued Interest Current Month 33,746.69 41,624.44 30,015.23 61,048.26 166,434.62 417,332.79 583,767.41
Market Value Adjusted for Accruals 5,785,223.85 7,256,037.02 2,797,390.27 7,110,572.63 22,949,223.77 40,373,020.00 63,322,243.77
Portfolio Retums (campul°d by hrvestment Mana9rs)
Monthly Return 0.46% 0.36% 0.01% 0.12%
Total Return Calendar Year to Date 2006 4.26% 4.75% 4.42% 4.48%
Market Indices
Average Last Average Last Calendar
3 Months 12 Months YTD
90 Day T-Bills 1.26% 4.85% 4.85%
Lehman Aggregate Govt. Bonds 0.84% 3.48% 3.48%
Lehman Short Term Govt. Bonds 0.98% 4.12% 4.12%
Lehman Intermediate Govt. Bonds' 0.89% 3.84% 3.84%
Consumer Price Index' 0.05% 2.58% 2.58%
Current Prime Rate 8.25%
'Rate as of.' 12-31-06
** Returns prior to fees
City of Dubuque
Schedule of Certificates of Deposit
As of
December 31, 2006
Certificate
Number
Institution Cost
Basis Purchase
Date Maturity
Date Interest
Rate Days to
Maturity Accrued
Days Accrued
Interest
118852 AT&S 1,000,000 04/27/06 01/04/07 5.320% 4 248 36,146.85
118893 AT&S M 1,000,000 05/04/06 01/11/07 5.280% 11 241 34,862.47
14868 EDSB 1,000,000 05/15/06 01/18/07 5.372% 18 230 33,850.96
119001 AT&S 1,000,000 05/25/06 02/01/07 5.390% 32 220 32,487.67
410525 Premier M 1,000,000 06/01/06 02/08/07 5.435% 39 213 31,716.58
119145 AT&S 1,000,000 06/22/06 02/15/07 5.520% 46 192 29,036.71
411636 Premier 1,000,000 10/26/06 03/01/07 5.410% 60 66 9,782.47
5553199 Liberty M 1,000,000 07/13/06 03/08/07 5.710% 67 171 26,750.96
411588 Premier 1,000,000 10/18/06 03/15/07 5.420% 74 74 10,988.49
433026035 US Bank 1,000,000 12/20/06 03/21/07 5.273% 80 11 1,589.12
15585 EDSB M 1,000,000 09/07/06 03/22/07 5.410% 81 115 17,045.21
510777 DB&T 1,000,000 10/24/06 03/29/07 5.390% 88 68 10,041.64
15375 EDSB M 800,000 08/10/06 04/05/07 5.660% 95 143 17,739.84
119552 AT&S M 200,000 11/22/06 04/05/07 5.290% 95 39 1,130.47
411555 Premier 1,000,000 10/04/06 04/12/07 5.415% 102 88 13,055.34
200407 Liberty 1,000,000 12/21/06 04/26/07 5.245% 116 10 1,436.99
411577 Premier 1,000,000 10/12/06 04/30/07 5.410% 120 80 11,857.53
15782 EDSB M 1,000,000 10/05/06 05/03/07 5.420% 123 87 12,918.90
119551 AT&S 1,000,000 11/21/06 05/10/07 5.290% 130 40 5,797.26
16093 EDSB 1,000,000 11/16/06 05/24/07 5.332% 144 45 6,573.70
510775 DB&T 1,000,000 10/16/06 05/31/07 5.390% 151 76 11,223.01
15839 EDSB 1,000,000 10/17/06 05/31/07 5.403% 151 75 11,102.05
411735 Premier 1,000,000 11/08/06 06/07/07 5.420% 158 53 7,870.14
200186 Liberty 1,000,000 12/07/06 06/13/07 5.305% 164 24 3,488.22
5553406 Liberty M 1,000,000 11/02/06 06/14/07 5.360% 165 59 8,664.11
19196 Liberty 1,000,000 11/22/06 06/21/07 5.275% 172 39 5,636.30
200187 Liberty 1,000,000 12/07/06 06/28/07 5.295% 179 24 3,481.64
15838 EDSB 1,000,000 10/17/06 07/02/07 5.416% 183 75 11,128.77
13506 State Central 1,000,000 12/20/06 07/05/07 5.176% 186 11 1,559.89
200082 Liberty M 1,000,000 11/30/06 07/12/07 5.290% 193 31 4,492.88
13514 State Central 1,000,000 12/21/06 07/19/07 5.189% 200 10 1,421.64
13474 State Central M 1,000,000 12/14/06 08/09/07 5.271% 221 17 2,454.99
Totals 31, 000, 000.00 417, 332.79
Weighted Yield:
Weighted Maturity in Days:
(M) =DUBUQUE METROPOLITAN AREA SOLID WASTE AGENCY
0.171% Acrued Interest Distribution
5.77 DMASWA 157,776.38
General 259,556.41
417, 332.79
Print Date: 1!23/2007