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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 &section 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