Quarterly Investment Report Copyright 2014
City of Dubuque Consent Items # 6.
ITEM TITLE: Quarterly Investment Report
SUMMARY: City Manager transmitting the Quarterly Investment Report for September
30, 2014.
SUGGESTED DISPOSITION: Suggested Disposition: Receive and File
ATTACHMENTS:
Description Type
❑ September 30, 2014 Quarterly Investment Report-MVM Memo City Manager Memo
❑ Staff Memo Staff Memo
❑ Cash Investments and Investment Earnings Summary Supporting Documentation
❑ Schedule of City Funds Supporting Documentation
❑ Monthly Investment Summary Supporting Documentation
❑ Schedule of Certificates of Deposit and Accrued Interest Supporting Documentation
THE CITY OF Dubuque
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Masterpiece on the Mississippi 2007-2012-2013
TO: The Honorable Mayor and City Council Members
FROM: Michael C. Van Milligen, City Manager
SUBJECT: September 30, 2014 Quarterly Investment Report
DATE: October 21, 2014
Finance Director Ken TeKippe is transmitting the September 30, 2014 Quarterly
Investment Report.
AAj!! k 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 MY OF Dubuque
DUB E M�II�l
Masterpiece on the Mississippi
TO: Michael C. Van Milligen, City Manager
FROM: Kenneth J. TeKippe, Finance Director
RE: September 30, 2014 Quarterly Investment Report
DATE: October 21, 2014
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 July 1, 2014 through September 30, 2014.
The report includes: Cash Investments and Investment Earnings Summary
for quarter ended September 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/eml
Enclosures
CITY OF DUBUQUE
Cash, Investments and Investment Earnings Summary
For The Quarter Ended September 30, 2014 And Fiscal Year To Date
Market Value / Unrealized
Carrying Including Gain (Loss) /
Description Value Accrued Interest Accrued Interest
Change & Petty Cash Funds 15,196 15,196
Checking/Savings Accounts 1 ,771 ,019 1 ,771 ,019 -
High Yield Savings Accounts 5,242,087 5,242,559 472
Unspent Bond Proceeds 24,000,170 24,000,170 -
Certificates Of Deposit 6,000,000 6,005,950 5,950
US Treasury Securities 2,015,125 2,602,918 587,793
Corporate Stock (EB Lyons Trust) 11 ,514 93,354 81 ,840
Investment Advisor Accounts 26,282,757 26,367,676 84,919
Total Funds 65,337,868 66,098,842 760,974
Breakdown
City 58,835,252 59,590,276 755,024
Metro 6,502,616 6,508,566 5,950
Total Combined Funds 65,337,868 66,098,842 760,974
Cash Basis Quarter Year-To-Date
Gross Earnings:
City 142,182 142,182
Metro 5,650 5,650
Combined 147,832 147,832
Investment Fees:
City 24,623 24,623
Metro 117 1 117
Combined 24,740 24,740
Net Earnings:
City 117,559 117,559
Metro 5,533 5,533
Combined 123,092 123,092
FV123DATAAFINSEC\l 0 A C\MVM Quarterly Inv.Report;AQuarterly Report;to Council Electronically\2014 Sep[ACouncil Summary G2015 As 19212014
City of Dubuque FY 15
Schedule of City Funds
September 2014
TOTAL
COST CITYFUNDS
City Managed Funds BASIS PERCENTAGE
CASH:
Change and Petty Cash Funds 15,196
Health Fund Deposit 150,000
Prescription Fund Deposit 75,000
Workers Comp Deposit 10,000
Total 250,221 0.6%
CHECKING I SAVINGS ACCOUNTS:
American Trust&Savings Bank(Generap 210,296
American Trust&Savings Bank(Housing Rehab&Section 8) 154,757
Dubuque Bank&Trust(General/Metro/Leisure) 575,924
Dubuque Bank&Trust(cable Franchise Equipment Fund) 542,371
US Bank (General/Ambulance) 8,236
Premier(utility) 4,325
East Dubuque Savings Bank(utility) 2,505
Dubuque Bank&Trust Police Forfeiture Funds 37,580
BBVA Compass 0
Total 1,535,995 3.9%
UNSPENT BOND PROCEED INVESTMENT ACCOUNTS:
DB&T Series 2009A 172,502
DB&T Series 2009B 135,343
AT&S Series 2010A 373,959
AT&S Series 2010B 1,345,900
DB&T Series 2011 A 728,854
DB&T Series 2012A 2,711,411
DB&T Series 2012B 2,868,378
DB&T Series 2012C 2,321,844
DB&T Series 2012D 2,842,733
DB&T Series 2012E 1,637,315
AT&S Series 2012F 586,312
DB&T Series 2012H 2,020,697
AT&S Series 2014A 6,254,922
Total 24,000,170 61.5%
CERTIFICATES OF DEPOSIT:
DB&T 1,800,000
ATSB 1,400,000
EDSB 2,800,000
Total 6,000,000 15.4%
HIGH YIELD SAVINGS ACCOUNTS:
Dubuque Bank&Trust(premium Savings) 3,731,405
East Dubuque Savings Bank(Advantage Savings) 1,510,681
5,242,087 13.4%
U.S. TREASURY OBLIGATIONS:
Debt Service Reserve Fund Required for Port Ramp 2,015,125
Total 2,015,125 5.2%
CORPORATE STOCK (Lyons Peony Trust): 11,514
Total 11,514 0.0%
TOTAL CITY MANAGED FUNDS 39,055,112 59.8%
vasal
City of Dubuque FY 15
Schedule of City Funds
September 2014
FINANCIAL ADVISORS MANAGED FUNDS
PORTFOLIO TOTAL
COMPOSITION COST CITYFUNDS
PERCENTAGE BASIS PERCENTAGE
DANA INVESTMENT ADVISORS, INC:
Cash and Equivalents 3.1% 114,970
US Treasury Obligations 43.0% 2,594,082
US Agencies 0.0%
Mortgaged Backed Securities 53.9% 3,386,425
Total 100.0% 6,095,478 8.7%
DUBUQUE BANK&TRUST:
Cash and Equivalents 3.1% 251,751
US Treasury Obligations 96.9% 7,652,391
US Agencies 0.0%
Mortgaged Backed Securities 0.0%
Total 100.0% 7,904,142 11.3%
FIRST COMMUNITY TRUST:
Cash and Equivalents 29.9% 1,545,324
US Treasury Obligations 0.0%
US Agencies 60.3% 3,011,718
Mortgaged Backed Securities 9.8% 451,495
Total 100.0% 5,008,537 7.1%
US BANK:
Cash and Equivalents 11.1% 1,381,320
US Treasury Obligations 13.8% 750,000
US Agencies 75.1% 5,143,280
Mortgaged Backed Securities 0.0%
Total 100.0% 7,274,600 10.4%
GRAND TOTAL 26,282,757 37.4%
BREAKDOWN BY TYPE OF SECURITY:
Cash &Equivalents 10.4% 3,293,366 3.9%
US Treasury Obligations 43.0% 10,996,473 16.1%
US Agencies 32.3% 8,154,998 12.1%
Mortgage Backed Securities 14.4% 3,837,920 5.4%
TOTAL FINANCIAL ADVISORS MANAGED FUNDS 100.0% 26,282,757 37.4%
TOTAL CITY FUNDS 65,337,868 100.0%
RECAP OF PORTFOLIO PERCENTAGES Managed City Combined
CASH&EQUIVALENTS 5% 0% 5%
CHECKING/SAVINGS ACCTS 0% 47% 47%
MORTGAGE BACKED SECURITIES 6% 0% 6%
CERTIFICATES OF DEPOSIT 0% 9% 9%
U.S.TREASURY OBLIGATIONS 17% 3% 20%
FEDERAL AGENCIES 12% 0% 12%
Total 40% 60% 100%
P,e 2
CITY OF DUBUQUE
MONTHLY INVESTMENT SUMMARY
Month Ending: 09/30/14
First
Community Managed Combined
Dana DB&T Trust US Bank Accounts City Finance Total
COST BASIS ANALYSIS
Cost Basis Prior Month 6,089,078 7,892,453 5,006,123 7,271,783 26,259,438 37,688,514 63,947,951
Additions:
Interest Earnings 10,217 13,946 5,018 12,979 42,159 10,718 52,877
Realized Gains(Losses) (697) (1,068) (8,070) (9,835) (9,835)
Total Additions 9,520 13,946 3,950 4,909 32,324 10,718 43,042
Subtractions:
Management Fees (2,578) (1,644) (1,043) (1,506) (6,771) (6,771)
Custodian Fees (542) (614) (493) (586) (2,234) (2,234)
Bank Charges (759) (759)
Total Subtractions (3,120) (2,257) (1,536) (2,092) (9,005) (759) (9,765)
Cost Basis Current Month 6,095,478 7,904,142 5,008,537 7,274,600 26,282,757 37,698,472 63,981,228
Net Cash Receipts&(Disbursements) 1,356,639 1,356,639
Ending Cost Basis Balance 6,095,478 7,904,142 5,008,537 7,274,600 26,282,757 39,055,111 65,337,867
MARKET VALUE ANALYSIS
Investment Market Value Prior Month(Adjusted for Accruals) 6,197,910 7,916,153 5,027,191 7,255,495 26,396,749 38,413,127 64,809,877
Investment Market Value Current Month 6,178,825 7,902,600 4,983,316 7,232,464 26,297,204 39,712,441 66,009,645
Accrued Interest Current Month 16,647 11,727 22,154 19,944 70,472 18,725 89,197
Market Value Adjusted for Accruals 6,195,472 7,914,327 5,005,470 7,252,408 26,367,676 39,731,166 66,098,842
Portfolio Returns(computed by Investment Managers)
Monthly Return Gross of Fees 0.04% 0.01% (0.90%) (0.20%)
Monthly Return Net of Fees 0.01% (0.02%) (0.42%) (0.50%)
Total Return Calendar Year to Date 2014 Gross 0.79% 0.75% 3.32% 0.29%
Effective Duration in Years 0.93 1.14 2.83 1.55
Market Indices
Average Last Calendar Last Last
Month Year to Date 12 Months 3 Years
Barclays 90 Day T-Bills 0.00% 0.05% 0.06% 0.09%
Barclays Short Term 1-3 Yr Govt.bonds (0.06%) 0.45% 0.52% 0.51%
Barclays Intermediate Govt bonds (0.34%) 1.56% 1.14% 0.90%
Barclays Government Bonds (0.52%) 3.00% 2.28% 1.06%
Current Prime Rate 3.25%
City of Dubuque
Schedule of Certificates of Deposit,Accrued Interest, High Yield Savings Accounts &Unspent Bond Proceeds
As of
September 30, 2014
Certificates of Deposit:
Certificate CIM
Cost Purchase Maturity Interest Days to Accrued Accrued
Number Institution Basis Date Date Rate Maturity Das Interest
8003/1 ATSB M 800,000 04/17/14 10/16/14 0.38% 16 166 1,382.58
27754 EDSB M 1,000,000 05/12/14 11/10/14 0.37% 41 141 1,433.18
3109 ATSB M 600,000 08/01/14 01/30/15 0.38% 122 60 374.79
3818 DB&T M 1,000,000 08/15/14 02/13/15 0.40% 136 46 504.11
AAAA DB&T M 800,000 09/04/14 03/05/15 0.04% 156 26 22.79
27762 EDSB M 1,000,000 05/27/14 11/25/14 0.37% 56 126 1,280.71
27774 EDSB M 800,000 06/05/14 12/04/14 0.37% 65 117 951.39
Totals 6,000,000 5,949.55
Account CD Balance Accrued Interest
DMASWA 6,000,000 5,949.55
Weighted Yield: 0.334% City 0 0.00
Weighted Maturity in Days: 82.6 6,000,000 5,949.55
High Yield Savings Accounts
Account CIM
Ending APR @ Accrued
Number Institution Balance Month End Interest
671460 DB&T C 3,731,405 0.10% 210.74
44444116 EDSB C 1,510,681 0.30% 261.54
5,242,087 472.28
U.S. Treasury Bond
Account c/M Ending Maturity Face Value Accrued
Number Institution Balance Date Interest Rate Interest
2152-1478 LPL Financial C 2,590,615 02/15/37 4.75% 12,303.02
Unspent Bond Proceed Investment Accounts:
Ending APR
Bond Issue Institution c/M Balance Month End
2009A DB&T C 172,502 0.50%
2009B DB&T C 135,343 0.30%
2010A AT&S C 373,959 0.30%
2010B AT&S C 1,345,900 0.30%
2011A DB&T C 728,854 0.30%
2012A DB&T C 2,711,411 0.32%
2012B DB&T C 2,868,378 0.32%
20120 DB&T C 2,321,844 0.32%
2012D DB&T C 2,842,733 0.32%
2012E DB&T C 1,637,315 0.17%
2012F DB&T C 586,312 0.35%
2012H DB&T C 2,020,697 0.17%
2014A AT&S C 6,254,922 0.48%
24,000,170
(M)=DUBUQUE METROPOLITAN AREA SOLID WASTE AGENCY
(C)=CITY FUNDS
Print Date:10/172014