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Quarterly Investment Report 6 30 14THE CITY OF Dui Masterpiece on the Mississippi TO: The Honorable Mayor and City Council Members FROM: Michael C. Van Milligen, City Manager SUBJECT: June 30, 2014 Quarterly Investment Report DATE: July 28, 2014 Dubuque band AI -America City r 2007 • 2012 • 2013 Finance Director Ken TeKippe is transmitting the June 30, 2014 Quarterly Investment Report. bawd(' (4„, 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 THE CITY OF Dui Masterpiece on the Mississippi TO: Michael C. Van Milligen, City Manager FROM: Kenneth J. TeKippe, Finance Director RE: June 30, 2014 Quarterly Investment Report DATE: July 28, 2014 INTRODUCTION Dubuque bitetri All -America City 1 r 2007 • 2012 • 2013 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 April 1, 2014 through June 30, 2014. The report includes: Cash Investments and Investment Earnings Summary for quarter ended June 30, 2014 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. REQUESTED ACTION This report is for your review and filing with the Honorable Mayor and City Council. KT/em I Enclosures CITY OF DUBUQUE Cash, Investments and Investment Earnings Summary For The Quarter Ended June 30, 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 15,221 2,014,114 4,341,175 29,092,071 6,400,000 2,015,125 11,514 26,232,405 15,221 2,014,114 4,341,175 29,092,071 6,405,864 2,586,561 93,642 26,391,020 5,864 571,436 82,128 158,615 70,121,625 70,939,668 818,043 63,206,737 6,914,888 64,018,916 6,920,752 812,179 5,864 70,121,625 70,939,668 818,043 Quarter Year -To -Date 94,136 513,064 5,188 17,019 99,325 530,082 31,021 107,659 37 544 31,058 108,203 63,115 405,405 5,151 16,475 68,267 421,880 CVUsersVellaheyVAppDataALocalATemp'KPgrpwiseACouncil Summary -02014_1 xls 7/23/2014 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 June 2014 Total CHECKING / 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) Dubuque Bank & Trust Police Forfeiture Funds BBVA Compass FY 14 TOTAL COST CITY FUNDS BASIS PERCENTAGE 15,221 150,000 75,000 10,000 250,221 0.4% 198,906 181,069 743,004 510,076 90,141 1,855 1,219 37,577 15,267 Total 1,779,114 2.5% UNSPENT BOND PROCEED INVESTMENT ACCOUNTS: DB&T Series 2009A 203,732 DB&T Series 2009B 392,607 AT&S Series 2010A 376,600 AT&S Series 2010B 1,377,206 DB&T Series 2010D 12,779 US Bank Series 2010F Capital Loan Notes 1,064,775 DB&T Series 2011A 795,551 DB&T Series 2012A 3,670,700 DB&T Series 2012B 3,323,096 DB&T Series 2012C 2,410,281 DB&T Series 2012D 3,054,940 DB&T Series 2012E 1,645,119 AT&S Series 2012F 616,587 DB&T Series 2012H 2,025,852 AT&S Series 2014A 8,122,247 Total 29,092,071 41.5% CERTIFICATES OF DEPOSIT: Premier ATSB EDSB Total HIGH YIELD SAVINGS ACCOUNTS: Dubuque Bank & Trust (Premium Savings) East Dubuque Savings Bank (Advantage Savings) 1,000,000 800,000 4,600,000 6,400,000 9.1% 3,331,009 1,010,166 4,341,175 6.2% 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): 11,514 Total 11,514 0.0% TOTAL CITY MANAGED FUNDS Page 1 43,889,219 62.6% 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 June 2014 FY 14 PORTFOLIO TOTAL COMPOSITION COST CITY FUNDS PERCENTAGE BASIS PERCENTAGE 3.1% 43.0% 0.0% 53.9% 188,606 2,618,705 3,277,916 Total 100.0% 6,085,227 8.7% 3.1% 96.9% 0.0% 0.0% 244,583 7,652,391 Total 100.0% 7,896,973 11.3% 29.9% 0.0% 60.3% 9.8% 1,492,870 3,011,718 487,621 Total 100.0% 4,992,209 7.1% Total 11.1% 13.8% 75.1% 0.0% 804,229 1,000,000 5,453,766 100.0% 7,257,996 GRAND TOTAL 26,232,405 BREAKDOWN BY TYPE OF SECURITY: Cash & Equivalents US Treasury Obligations US Agencies Mortgage Backed Securities TOTAL FINANCIAL ADVISORS MANAGED FUNDS TOTAL CITY FUNDS 10.4% 43.0% 32.3% 14.4% 100.0% 2,730,288 11,271,096 8,465,484 3,765,537 26,232,405 10.4% 37.4% 3.9% 16.1% 12.1% 5.4% 37.4% 70,121,624 100.0% RECAP OF PORTFOLIO PERCENTAGES Managed City Combined CASH & EQUIVALENTS 4% 0% 4% CHECKING/SAVINGSACCTS 0% 50% 50% MORTGAGE BACKED SECURITIES 5% 0% 5% CERTIFICATES OF DEPOSIT 0% 9% 9% U.S. TREASURY OBLIGATIONS 16% 3% 19% FEDERAL AGENCIES 12% 0% 12% Total 37% 63% 100% Page 2 COST BASIS ANALYSIS Cost Basis Prior Month Additions: Interest Earnings Realized Gains (Losses) Total Additions Subtractions: Management Fees Custodian Fees Bank Charges CITY OF DUBUQUE MONTHLY INVESTMENT SUMMARY Month Ending: 06/30/14 First Community Managed Combined Dana DB&T Trust US Bank Accounts City Finance Total 6,083,146 7,899,230 4,988,443 7,256,255 26,227,073 50,118,460 76,345,533 6,058 1 6,307 3,834 16,200 (861) (1,014) (1,875) 5,197 1 5,293 3,834 14,325 (2,574) (1,643) (1,036) (1,507) (6,761) (541) (615) (491) (586) (2,233) Total Subtractions (3,116) Cost Basis Current Month Net Cash Receipts & (Disbursements) Ending Cost Basis Balance 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 2014 Gross Effective Duration in Years Market Indices (2,258) (1,527) 16,120 16,120 (1,482) (2,093) (8,994) (1,482) 32,321 (1,875) 30,446 (6,761) (2,233) (1,482) (10,475) 6,085,227 7,896,973 4,992,209 7,257,996 26,232,405 50,133,098 76,365,503 (6,243,878) (6,243,878) 6,085,227 7,896,973 4,992,209 7,257,996 26,232,405 43,889,220 70,121,625 6,181,442 7,919,056 6,160,162 7,901,702 19,562 13,276 6,179,723 7,914,979 4,991,195 7,297,205 26,388,898 50,789,677 77,178,576 4,977,586 7,228,289 26,267,739 21,740 68,704 123,282 4,999,325 7,296,993 26,391,020 44,506,594 42,054 44,548,648 70,774,333 165,336 70,939,668 0.04% 0.01% 0.53% 0.92 (0.02%) (0.05%) 0.69% 1.37 0.21% 0.18% 3.06% 3.05 0.03% 0.00% 0.83% 1.39 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 0.00% (0.05%) (0.13%) (0.08%) 3.25% 0.07% 0.78% 1.53% 2.08% 0.04% 0.42% 1.55% 2.58% 0.09% 0.66% 1.96% 2.88% City of Dubuque Schedule of Certificates of Deposit, Accrued Interest, High Yield Savings Accounts & Unspent Bond Proceeds As of June 30, 2014 Certificates of Deposit: Certificate Number Institution CIM Cost Basis Purchase Date Maturity Date Interest Rate Days to Maturity Accrued Days Accrued Interest 8003/1 27754 4471065 27698 27762 27774 27647 ATSB EDSB Premier EDSB EDSB EDSB EDSB M 800,000 M 1,000,000 M 1,000,000 M 800,000 M 1,000,000 M 800,000 M 1,000,000 04/17/14 05/12/14 02/14/14 03/06/14 05/27/14 06/05/14 12/13/13 10/16/14 11/10/14 08/15/14 09/04/14 11/25/14 12/04/14 07/31/14 0.38% 0.37% 0.35% 0.35% 0.37% 0.37% 0.37% 108 133 46 66 148 157 31 74 49 136 116 34 25 199 616.33 498.05 1,285.48 892.41 345.59 203.29 2,022.71 Totals 6,400,000 5,863.86 Weighted Yield: Weighted Maturity in Days: High Yield Savings Accounts 0.366% 97.3 Account DMASWA City CD Balance Accrued Interest 6,400,000 5,863.86 0 0.00 6,400,000 5,863.86 Account Number Institution CIM Ending Balance APR Month End Accrued Interest 671460 DB&T 44444116 EDSB C 3,331,009 C 1,010,166 0.10% 0.30% 0.00 0.00 4,341,175 0.00 U.S. Treasury Bond Accountc/M Ending Maturity Face Value Accrued Number Institution Balance Date Interest Rate Interest 2152-1478 LPL Financial C 2,550,371 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 2014A 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 AT&S C 203,732 C 392,607 C 376,600 C 1,377,206 C 12,779 C 1,064,731 C 795,551 C 3,670,700 C 3,323,096 C 2,410,281 C 3,054,023 C 1,645,119 C 616,435 C 2,025,852 C 8,120,912 29,089,623 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% 0.48% (M) = DUBUQUE METROPOLITAN AREA SOLID WASTE AGENCY (C) = CITY FUNDS 36,190.28 Print Date: 7/16/2014