Quarterly Investment ReportCity of Dubuque ITEM#
ITEM TITLE: Quarterly Investment Report
SUMMARY: City Manager transmitting the Quarterly Investment Report for March 31,
2014.
SUGGESTED DISPOSITION: Suggested Disposition: Receive and File
ATTACHMENTS:
Name: Description:
E Quarterly Investment Report.docx March 31, 2014 Quarterly Investment Report -MVM Memo
❑ Cash Investments and Investment Eamings Summary.pdf Cash Investments and Investment Earnings Summary
❑ Schedule of City Fund FY14.pdf Schedule of City Funds
❑ 20140429093006626.pdf Monthly Investment Summary
E Schedule of Certificates of Deposit Accrued Interest FY 14.pdf Schedule of Certificates of Deposit and Accrued Interest
Masterpiece on the Mississippi
TO: The Honorable Mayor and City Council Members
FROM: Michael C. Van Milligen, City Manager
SUBJECT: March 31, 2014 Quarterly Investment Report
DATE: April 29, 2014
Dubuque
band
AI -America City
11111r
2007 • 2012 • 2013
Finance Director Ken TeKippe is transmitting the March 31, 2014 Quarterly Investment
Report.
Mic ael 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
CITY OF DUBUQUE
Cash, Investments and Investment Earnings Summary
For The Quarter Ended March 31, 2014 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
12,471
2,135,077
7,866,052
22,988,789
6,600,000
2,015,125
11,514
27,699,404
12,471
2,135, 077
7,866,959
22,988,789
6,605,042
2,477,740
92,326
27,761,867
907
5,042
462,615
80,812
62,463
69,328,432
69,940,271
611,839
62,602,907
6,725,525
63,209,703
6,730,568
606,797
5,042
69,328,432
69,940,271
611,839
Quarter
Year -To -Date
155,386
418,927
4,898
11,830
160,284
430,758
23,144
76,638
133
507
23,277
77,145
132,241
342,290
4,765
11,323
137,007
353,613
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
March 2014
Total
FY 14
TOTAL
COST CITY FUNDS
BASIS PERCENTAGE
12,471
150,000
75,000
10,000
247,471 0.4%
CHECKING 1 SAVINGS ACCOUNTS:
American Trust & Savings Bank (General) 169,225
American Trust & Savings Bank (Housing Rehab §ion e) 196,371
Dubuque Bank & Trust (General/Metro/Leisure) 1,090,917
Dubuque Bank & Trust (Cable Franchise Equipment Fund) 416,572
US Bank (General/Ambulance) 33,732
Premier (utility) 9,392
East Dubuque Savings Bank (utility) 19,805
Total 1,936,013 2.8%
UNSPENT BOND PROCEED INVESTMENT ACCOUNTS:
DB&T Series 2009A 223,150
DB&T Series 2009B 455,064
AT&S Series 2010A 376,348
AT&S Series 2010B 1,434,229
DB&T Series 2010D 109,544
US Bank Series 2010F Capital Loan Notes 1,064,597
DB&T Series 2011A 829,347
DB&T Series 2012A 4,366,105
DB&T Series 2012B 3,697,610
DB&T Series 2012C 2,659,831
DB&T Series 2012D 3,379,728
DB&T Series 2012E 1,677,417
AT&S Series 2012F 681,056
DB&T Series 2012H 2,034,762
Total 22,988,789 33.2%
CERTIFICATES OF DEPOSIT:
Premier
EDSB
Total
HIGH YIELD SAVINGS ACCOUNTS:
Dubuque Bank & Trust (Premium savings)
East Dubuque Savings Bank (Advantage Sayings)
1,000,000
5,600,000
6,600,000 9.5%
6,825,130
1,004,985
7,830,115 11.3%
U.S. TREASURY OBLIGATIONS:
Debt Service Reserve Fund Required for Port Ramp 2,015,125
Total 2,015,125 2.9%
CORPORATE STOCK (Lyons Peony Trust):
Total
TOTAL CITY MANAGED FUNDS
Page 1
11,514
11,514 0.0%
41,629,027 60.1%
City of Dubuque
Schedule of City Funds
March 2014
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
FY 14
PORTFOLIO TOTAL
COMPOSITION COST CITY FUNDS
PERCENTAGE BASIS PERCENTAGE
9.1%
42.2%
0.0%
48.8%
584,131
2,713,311
3,136, 971
Total 100.0% 6,434,413 9.3%
2.9%
97.1%
0.0%
0.0%
243,147
8,100, 580
Total 100.0% 8,343,727 12.0%
32.9%
0.0%
57.0%
10.1%
1,724,906
2,991,931
530,320
Total 100.0% 5,247,158 7.6%
Total
7.1%
0.0%
92.9%
0.0%
542,890
7,131,216
100.0% 7,674,106
GRAND TOTAL 27,699,404
BREAKDOWN BY TYPE OF SECURITY:
Cash & Equivalents
US Treasury Obligations
US Agencies
Mortgage Backed Securities
TOTAL FINANCIAL ADVISORS MANAGED FUNDS
TOTAL CITY FUNDS
11.2%
39.0%
36.6%
13.2%
100.0%
3,095,075
10, 813, 891
10,123,147
3,667,291
27, 699, 404
40.0%
4.5%
15.6%
14.6%
5.3%
40.0%
69,328,432 100.0%
RECAP OF PORTFOLIO PERCENTAGES Managed City Combined
CASH & EQUIVALENTS 4% 0% 5%
CHECKING/SAVINGSACCTS 0% 47% 47%
MORTGAGE BACKED SECURITIES 5% 0% 5%
CERTIFICATES OF DEPOSIT 0% 10% 10%
U.S. TREASURY OBLIGATIONS 16% 3% 19%
FEDERAL AGENCIES 15% 0% 15%
Total 40% 60% 100%
Paget
CITY OF DUBUQUE
MONTHLY INVESTMENT SUMMARY
Month Ending: 03/31/14
First
Community Managed Combined
Dana DB&T Trust US Bank Accounts City Finance Total
COST BASIS ANALYSIS
Cost Basis Prior Month 6,429,065 8,344,356 5,239,499 7,657,803 27,670,723 39,743,785 67,414,508
Additions:
Interest Earnings 6,540 4 10,324 18,594 35,462 6,619 42,081
Realized Gains (Losses) (635) (1,081) (99) (1,815) (1,815)
Capital Deposits 0
Total Additions 5,905 4 9,243 18,495 33,647 6,619 40,266
Subtractions:
Management Fees (1,083) (1,590) (2,673) (2,673)
Custodian Fees (557) (633) (501) (603) (2,293) (2,293)
Bank Charges (1,712) (1,712)
Capital Withdrawals 0
Total Subtractions (557) (633) (1,584) (2,192) (4,966) (1,712) (6,678)
Cost Basis Current Month 6,434,413 8,343,727 5,247,158 7,674,106 27,699,404 39,748,691 67,448,096
Net Cash Receipts & (Disbursements) 1,880,336 1,880,336
Ending Cost Basis Balance 6,434,413 8,343,727 5,247,158 7,674,106 27,699,404 41,629,027 69,328,432
MARKET VALUE ANALYSIS
Investment Market Value Prior Month (Adjusted for Accruals) 6,548,873 8,352,398 5,223,483 7,669,521 27,794,274 40,273,895 68,068,170
Investment Market Value Current Month 6,526,698 8,331,753 5,190,094 7,628,418 27,676,963 42,160,480 69,837,442
Accrued Interest Current Month 17,591 11,878 22,208 33,228 84,905 17,924 102,829
Market Value Adjusted for Accruals 6,544,289 8,343,631 5,212,302 7,661,646 27,761,867 42,178,404 69,940,271
Portfolio. Returns (computed by Investment Managers)
Monthly Return Gross of Fees
Monthly Return Net of Fees
Total Return Calendar Year to Date 2014 Gross
Effective Duration in Years
Market Indices
0.05%
0.02%
0.37%
0.80
(0.10%)
(0.10%)
0.30%
1.57
(0.19%)
(0.22%)
0.38%
3.63
(0.07%)
(0.10%)
0.08%
1.35
Average Last Last Calendar Last
Month 12 Months Year to Date 3 Years
Barclays 90 Day T -Bills
Barclays Short Term 1-3 Yr Govt. bonds
Barclays Intermediate Govt bonds
Barclays Government Bonds
Current Prime Rate
0.01%
(0.11%)
(0.39%)
(0.27%)
3.25%
0.09%
0.39%
(0.76%)
(1.17%)
0.02%
0.14%
0.64%
1.31%
0.10%
0.86%
2.36%
3.18%
City of Dubuque
Schedule of Certificates of Deposit, Accrued Interest, High Yield Savings Accounts & Unspent Bond Proceeds
As of
March 31, 2014
Certificates of
Deposit:
Certificate
Number
Institution
CIM
Cost
Basis
Purchase
Date
Maturity
Date
Interest
Rate
Days to
Maturity
Accrued
Days
Accrued
Interest
26775
27672
AAAA
27698
27636
27637
27647
EDSB
EDSB
Premier
EDSB
EDSB
EDSB
EDSB
M 1,000,000
M 1,000,000
M 1,000,000
M 800,000
M 1,000,000
M 800,000
M 1,000,000
01/17/14
01/30/14
02/14/14
03/06/14
11/26/13
12/05/13
12/13/13
04/17/14
05/10/14
08/15/14
09/04/14
05/26/14
06/05/14
07/31/14
0.30%
0.31%
0.35%
0.35%
0.37%
0.37%
0.37%
17
40
137
157
56
66
122
73
60
45
25
125
116
108
602.00
511.23
425.34
192.33
1,270.55
943.25
1,097.75
Totals
6,600,000
5,042.45
Weighted Yield: 0.345%
Weighted Maturity in Days: 83.4
High Yield Savings Accounts
Account
DMASWA
City
CD Balance Accrued Interest
6,600,000 5,042.45
0 0.00
6,600,000
5,042.45
Account
Number
Institution
CIM
Ending
Balance
APR
Month End
Accrued
Interest
671460
DB&T
44444116 EDSB
C 6,825,130
C 1,004,985
0.15%
0.30%
650.69
256.07
7,830,115
906.76
U.S. Treasury Bond
Accountc/M
Ending
Maturity
Face Value
Accrued
Number
Institution
Balance
Date
Interest Rate
Interest
2152-1478
LPL Financial C
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 223,150
C 455,064
C 377,987
C 1,929,553
C 109,544
C 1,064,556
C 833,007
C
4,366,105
C 3,737,725
C 2,869,761
C 3,401,648
C 1,677,417
C 730,888
C 2,034,524
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%
23,810,929
(M) = DUBUQUE METROPOLITAN AREA SOLID WASTE AGENCY
(C) = CITY FUNDS
11,974.73
Print Date: 4/17/2014