Quarterly Investment Report
THE CTTY OF
DUB E
~-~~
MEMORANDUM
April 28, 2007
TO: The Honorable Mayor and City Council Members
FROM: Michael C. Van Milligen, City Manager
SUBJECT: March 31, 2007 Quarterly Investment Report
Finance Director Ken TeKippe is transmitting the attached March 31, 2007 Quarterly
Investment Report.
,~ C(,~
~,
ichael 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 m randum
Me o
~~
TO: Michael C. Van Milligen, City Manager
FROM: Kenneth J. TeKippe, Finance Director ~ /~~~
RE: March 31, 2007 Quarterly Investment Report
DATE: April 26, 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 January 1, 2007 through March 31, 2007.
The report includes: Cash Investments and Investment Earnings Summary
for quarter ended March 31, 2007 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 March 31, 2007 & Fiscal 2007 YTD
Market Value / Unrealized
Carrying Including Gain (Loss /
Descri tion 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
93,100 93,100 -
6,872,127 6,872,127 -
31, 000, 000 31, 439, 526 439, 526
11, 514 88, 356 76, 842
23,070,085 23,271,269 201,184
61,046,826 61,764,378 717,552
51,360, 531 51, 963,483 602,952
9,686,295 9,800,895 114,600
61,046,826 61,764,378 717,552
Quarter Year-To-Date
535,271
168,035 1,643,000
396,423
703,306 2,039,423
(38,306)
376 (112,315)
702
38,682 (113,017)
496,965
167,659 1,530,685
395,721
664,624 1,926,406
CITY OF DUBUQUE
SCHEDULE OF CITY FUNDS
March 31, 2007
FY07
MANAGED FUNDS
PORTFOLIO TOTAL
COMPOSITION COST CITY FUNDS
PERCENTAGE BASIS PERCENTAGE
DANA INVESTMENT ADVISORS, INC.:
Cash 4.28% 251,171
Mutual Funds (US Government) 0.00%
Certificates Of Deposit 0.00°!0
US Treasury Obligations 0.00%
Federal Agency Obligations 95.72°10 5,612,283
Total 100.00% 5,863,454 9.60%
DUBUQUE BANK 8~ TRUST:
Cash 5.67% 406,479
Mutual Funds (US Government) 0.00%
Certificates Of Deposit 0.00%
US Treasury Obligations 0.00%
Federal Agency Obligations 94.33% 6,757,462
Total 100.00% 7,163,941 11.74%
FIRST COMMUNITY TRUST:
Cash 1.66% 47, 385
Mutual Funds (US Government) 0.00%
Certificates Of Deposit 0.00%
US Treasury Obligations 0.00%
Federal Agency Obligations 98.34% 2,800,435
Total 100.00°l0 2,847,820 4.66%
US BANK:
Cash 0.34% 24, 754
Mutual Funds (US Government) 0.00%
Certificates Of Deposit 0.00%
US Treasury Obligations 6.95% 500,289
Federal Agency Obligations 92.70% 6,669,827
Total 100.00% 7,194,870 11.79%
GRAND TOTAL 23,070,085 37.79°l0
BREAKDOWN BY TYPE OF SECURITY:
Cash 3.16% 729,789 1.20%
Mutual Funds (US Government) 0.00% 0 0.00%
Certificates Of Deposit 0.00% 0 0.00%
US Treasury Obligations 2.17% 500,289 0.82%
Federal Agency Obligations 94.67% 21,840,007 35.78%
TOTAL MANAGED FUNDS 100.00% 23, 070, 085 37.79%
Page 1
CITY OF DUBUQUE
SCHEDULE OF CITY FUNDS
March 31, 2007
FY07
OTHER FUNDS TOTAL
COST CITY FUNDS
BASIS PERCENTAGE
CASH
Change and Petty Cash Funds 8,100
Prescriptions & Workers Comp Deposits 85,000
Total 93,100 0.15%
CHECKING /SAVINGS ACCOUNTS:
American Trust & Savings Bank (General & Health) 622,498
American Trust & Savings Bank (America's River Bonds) 445,096
American Trust & Savings Bank (Housing Rehab & Section 8) 235,075
Dubuque Bank & Trust (General/Metro/Leisure) 1,474,776
Dubuque Bank & Trust (DICW Bonds) 708,201
Dubuque Bank & Trust (Comm)/lnd Bldg Rehab & Econ Dev} 78,251
Dubuque Bank & Trust (Cable Franchise Equipment Fund) 201,791
US Bank (General/Ambulance) 22,292
Premier (Utility) 29,480
Liberty (Utility) 12,635
East Dubuque Savings Bank (Stormwater Bonds) 2,650,872
East Dubuque Savings Bank (Parking Bonds) 381,952
East Dubuque Savings Bank (Utility) 6,005
State Central (Utility) 3,204
Total 6, 872,127 11.26%
CERTIFICATES OF DEPOSIT:
American Trust & Savings Bank 3,200,000
Dubuque Bank & Trust 1,000,000
Dupaco Community Credit Union
East Dubuque Savings Bank 7,800,000
Liberty Bank 6,000,000
Premier Bank 4,000,000
State Central 7,000,000
US Bank 2,000,000
Total 31, 000, 000 50.78%
U.S. TREASURY OBLIGATIONS 0.00%
CORPORATE STOCK (Lyons Peony Trust) 11,514 0.02%
TOTAL OTHER FUNDS 37,976,741 62.21°l0
TOTAL CITY FUNDS 61,046,826 100.00%
RECAP OF PORTFOLIO PERCENTAGES MANAGED FUNDS OTHER FUNDS COMBINED TOTAL
CASH 1.20% 0.15% 1.35%
CHECKING /SAVINGS ACCTS 0.00% 11.26% 11.26%
MUTUAL FUNDS (U.S. GOVERNMENT) 0.00% 0.00% 0.00%
CERTIFICATES OF DEPOSIT 0.00% 50.78% 50.78%
U.S. TREASURY OBLIGATIONS 0.82% 0.00% 0.82%
FEDERAL AGENCY OBLIGATIONS 35.78°l0 0.00% 35.78%
CORPORATE STOCK 0.00% 0.02% 0.02%
Total 37.79% 62.21 % 100.00%
Page 2
CITY OF DUBUQUE
MONTHLY INVESTMENT SUMMARY
First
Community
Dana DB&T Trust US Bank
COST BASIS ANALYSIS
Cost Basis Prior Month
Additions:
Interest Earnings
Real¢ed Gains (Losses)
Capital Deposits
Subtractions:
Management Fees
Custodian Fees
Bank Charges
Capital Withdrawals
Cost Basis Current Month
Net Cash Receipts & (Disbursements)
Ending Cost Basis Balance
Month Ending: #REF!
Managed Combined
Accounts City Finance Total
5,838,138.26 7,146,035.08 2,830,779.07 7,182,254.41 22,997,206.82 39,066,295.23 62,063,502.05
29,025.03 20,872.31 17,645.40 13,244.56 80,787.30 159,831.20 240,618.50
(3,142.03) 528.01 (171.62) (8.16) (2,793.80) (2,793.80)
0.00 0.00
Total Additions 25,883.00 21,400.32 17,473.78 13,236.40 77,993.50 159,831.20 237,824.70
(2,865.33) (2,865.33) (2,865.33)
(567.62) (628.62) (432.63) (621.24) (2,250.11) (2,250.11)
(2,194.93) (2,194.93)
0.00 0.00
Total Subtractions (567.62) (3,493.95) (432.63) (621.24) (5,115.44) (2,194.93) (7,310.37)
5,863,453.64 7,163,941.45 2,847,820.22 7,194,869.57 23,070,084.88 39,223,931.50 62,294,016.38
(1,247,190.63) (1,247,190.63)
5,863,453.64 7,163,941.45 2,847,820.22 7,194,869.57 23,070,084.88 37,976,740.87 61,046,825.75
MARKET VALUE ANALYSIS
Investment Market Value Prior Month tnqustea rorn~m,a~s~ 5,849,428.22 7,351,502.52 2,825,038.75 7,178,074.58 23,204,044.07 39,581,547.35 62,785,591.42
Investment Market Value Current Month 5,850,161.38 7,289,725.83 2,808,986.05 7,123,623.07 23,072,496.33 38,053,582.69 61,126,079.02
Accrued Interest Current Month 22 208 12 68 206.06 26 485.28 81 873.44 198 772.90 439 526.32 638,299.22
Market Value Adjusted for Accruals 5 872,369.50 7,357,931.89 2,835,471.33 7,205,496.51 23,271,269.23 38,493,109.01 61,764,378.24
Portfolio Returns" (canputedbylnvestmeMManagers)
Monthly Return 0.39% 0.13% 0.48%
Total Return Calendar Year to Date 2007 1.51% 1.55% 1.53%
Market Indices
Average Last Average Last Calendar
3 Months 12 Months Year to Date
90 Day T-Bills 1.25% 5.08% 1.25%
Lehman Aggregate Govt. Bonds 1.44°h 5.93% 1.44°
Lehman Short Term Govt. Bonds 1.40% 5.15% 1.40°
Lehman Intermediate Govt. Bonds 1.53% 5.75% 1.53°
Consumer Price Index` 0.99% 2.41% 0.55%
Current Prime Rate 8 25°~
'Rate as Ot: 03-37-07
" Returns prior to fees
0.39°h
1.45%
Apri! number not yet available
City of Dubuque
Schedule of Certificates of Deposit
As of
March 31, 2007
Certificate
Number
Institution Cost
Basis Purchase
Date Maturity
Date Interest
Rate Days to
Maturi Accrued
Da s Accrued
Interest
15375 EDSB M 800,000 08!10/06 04/05/07 5.667% 5 233 6,114.44
119552 AT&S M 200,000 11/22/06 04/05/07 5.290% 5 129 3,739.23
411555 Premier 1,000,000 10/04!06 04/12/07 5.415% 12 178 26,407.40
200407 Liberty 1,000,000 12/21/06 04/26/07 5.245% 26 100 14,369.86
411577 Premier 1,000,000 10/12/06 04/30/07 5.410% 30 170 25,197.26
15782 EDSB M 1,000,000 10/05/06 05!03/07 5.420% 33 177 26,283.29
119551 AT&S 1, 000,000 11 /21 /06 05/10/07 5.290% 40 130 18, 841.10
433027292 US Bank 1,000,000 02/15/07 05/17/07 5.180% 47 44 6,244.38
16093 EDSB 1,000,000 11!16/06 05/24/07 5.332% 54 135 19,721.10
510775 DB&T 1,000,000 10/16/06 05/31/07 5.390% 61 166 24,513.42
15839 EDSB 1,000,000 10!17/06 05/31/07 5.403% 61 165 24,424.52
411735 Premier 1,000,000 11/08/06 06/07/07 5.420% 68 143 21,234.52
200186 Liberty 1,000,000 12/07/06 06/13/07 5.305% 74 114 16,569.04
5553406 Liberty M 1,000,000 11/02/06 06/14/07 5.360% 75 149 21,880.55
19196 Liberty 1,000,000 11/22/06 06/21/07 5.275% 82 129 18,643.15
200187 Liberty 1,000,000 12/07/06 06/28/07 5.295% 89 114 16,537.81
15838 EDSB 1,000,000 10/17/06 07/02/07 5.416% 93 165 24,483.29
13506 State Central 1,000,000 12!20/06 07/05/07 5.176% 96 101 14,322.63
433026711 US Bank 1,000,000 01/18/07 07/11/07 5.170% 102 72 10,198.36
200082 Liberty M 1,000,000 11/30/06 07/12/07 5.290% 103 121 17,536.71
13514 State Central 1,000,000 12/21/06 07/19!07 5.189% 110 100 14,216.44
16727 EDSB 1,000,000 02/01/07 07/26/07 5.273% 117 58 8,379.01
13571 State Central 1,000,000 01/04/07 08/02/07 5.179% 124 86 12,202.58
13474 State Central M 1,000,000 12/14!06 08!09/07 5.271% 131 107 15,451.97
17239 EDSB 1,000,000 03/21/07 08/23/07 5.286% 145 10 1,448.22
16963 EDSB 1,000,000 03/01/07 08/30/07 5.323% 152 30 4,375.07
13600 State Central M 1,000,000 01/11/07 09/06/07 5.183% 159 79 11,218.00
120044 AT&S 1,000,000 03/15/07 09/13/07 5.260% 166 16 2,305.75
13765 State Central M 1,000,000 03/22/07 09/20/07 5.297% 173 9 1,306.11
13771 Premier 1,000,000 03!29!07 09!27!07 5.301% 180 2 290.47
13678 State Central M 1,000,000 02/08/07 10/04/07 5.528% 187 51 7,724.61
120228 AT&S M 1,000,000 03/08/07 11/01/07 5.310% 215 23 3,346.03
Totals 31, 000, 000 439, 526.32
Weighted Yield: 5.316% Acrued Interest Distribution
Weighted Maturity in Days: 97.10 DMASWA 114,600.94
(M) =DUBUQUE METROPOLITAN AREA SOLID WASTE AGENCY General 324,925.38
439, 526.32