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