Quarterly Investment Report 6 30 07THE CTTY OF
DUB ~` E
Masterpiece can the Mississippi
MEMORANDUM
July 31, 2007
TO: The Honorable Mayor and City Council Members
FROM: Michael C. Van Milligen, City Manager
SUBJECT: June 30, 2007 Quarterly Investment Report
Finance Director Ken TeKippe has provided the June 30, 2007 Quarterly Investment
Report.
~i
Mi hael 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
~~
Memorandum
TO: Michael C. Van Milligen, City Manager
f.
FROM: Kenneth J. TeKippe, Finance Director /~~~ i~~ y`
RE: June 30, 2007 Quarterly Investment Report
DATE: July 25, 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 April 1, 2007 through June 30, 2007.
The report includes: Cash Investments and Investment Earnings Summary
for quarter ended June 30, 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/j g
Enclosures
CITY OF DUBUQUE
Cash, Investments and Investment Earnings Summary
For The Quarter Ended June 30, 2007 8< Fiscal 2007 YTD
Market Value / Unrealized
Carrying Including Gain (Loss) /
Description 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
93,950 93,950 -
10,991,657 10,991,657 -
29,500,000 29,967,205 467,205
11, 514 94, 906 83, 392
23,351,493 23,380,002 28,509
63,948,614 64,527,720 579,106
55,044,561 55,465,070 420,509
8,904,053 9,062,650 158,597
63,948,614 64,527,720 579,106
Quarter Year-To-Date
808,087
83,381 2,451,087
479,804
891,468 2,930,891
40,375
(240) 153,847
(694)
40,135 153,153
768,232
83,101 2,298,628
479,110
851,333 2,777,738
CITY OF DUBUQUE
MONTHLY INVESTMENT SUMMARY
Month Ending: 06/30/07
First
Community Managed Combined
Dana DB&T Trust US Bank Accounts City Finance Total
COST BASIS ANALYSIS
Cost Basis Prior Month 5,900,119.68 7,232,558.53 2,860,656.87 7,244,480.81 23,237,815.89 43,436,990.77 66,674,806.66
Additions:
Interest Earnings 26,601.11 50,059.49 11,336.66 35,312.45 123,309.71 216,436.49 339,746.20
Realized Gains (Losses) (5,109.40) 1,006.52 (346.46) (39.52) (4,488.86) (4,488.86)
Capital Deposits 0.00 0.00
Total Additions 21,491.71 51,066.01 10,990.20 35,272.93 118,820.85 216,436.49 335,257.34
Subtractions:
Management Fees (2,887.07) (2,887.07) (2,887.07)
Custodian Fees (570.18) (628.94) (434.36) (623.18) (2,256.66) (2,256.66)
Bank Charges (307.11) (307.11)
Capital Withdrawals 0.00 0.00
Total Subtractions (570.18) (3,516.01) (434.36) (623.18) (5,143.73) (307.11) (5,450.84)
Cost Basis Current Month 5,921,041.21 7,280,108.53 2,871,212.71 7,279,130.56 23,351,493.01 43,653,120.15 67,004,613.16
Net Cash Receipts & (Disbursements) (3,055,999.62) (3,055,999.62)
Ending Cost Basis Balance 5,921,041.21 7,280,108.53 2,871,212.71 7,279,130.56 23,351,493.01 40,597,120.53 63,948,613.54
MARKET VALUE ANAL YS/S
Investment Mayket Value Prior Montlxadlunea ro.a°o.uais; 5,912,740.09 7,347,551.97 2,842,790.04 7,234,358.50 23,337,440.60 44,005,759.91 67,343,200.51
Investment Market Value Current Month
Accrued Interest Current Month
Market Value Adjusted for Accruals
Portfolio Returns** (computed bylnvestmentManagers)
Monthly Return
Total Return Calendar Year to Date 2007
Market Indices
5,905,846.71 7,286,215.55 2,822,274.96 7,192,193.34 23,206,530.56 40,680,512.80 63,887,043.36
28 109.47 46 509.90 29 498.97 69,352.67 173,471.01 467,205.41 640,676.42
5,933,956.18 7,332,725.45 2,851,773.93 7,261,546.01 23,380,001.57 41,147,718.21 64,527,719.78
0.30°~ (0.15°~) 0.34°,6 0.38%
2.79°~ 1.35°~ 2.24°~ 2.36°~
Average Last Average Last Calendar
3 Months 12 Months Year to Date
90 Day T-Bills 1.28°h 5.21 °~ 2.54°k
Lehman Aggregate Govt. Bonds (0.52°~) 6.12°.U 0.98°,6
Lehman Short Term Govt. Bonds 0.73°~ 5.22°h 2.14°~
Lehman Intermediate Govt. Bonds* 0.00°k 5.43°~ 1.53°~
Consumer Price Index* 1.71°k 2.72°k 2.26°~
Current Prime Rate 8.25°~
'Rate as of OS31-07
"Returns prior to fees
CITY OF DUBUQUE
SCHEDULE OF CITY FUNDS
June 30, 2007
MANAGED FUNDS
DANA INVESTMENT ADVISORS, INC.:
FY07
PORTFOLIO TOTAL
COMPOSITION COST CITY FUNDS
PERCENTAGE BASIS PERCENTAGE
Cash and Equivalents 1.00% 59,391
US Treasury Obligations 0.00% 0
US Agencies 99.00% 5,861,650
Mortgaged Backed Securities 0.00% 0
Municipal Bons 0.00% 0
Total 100.00% 5,921,041
DUBUQUE BANK & TRUST:
Cash and Equivalents 5.33% 388,025
US Treasury Obligations 0.00%
US Agencies 79.74% 5,804,848
Mortgaged Backed Securities 6.85% 498,750
Municipal Bonds 8.08% 588,486
TOta/ 100.00% 7,280,109
FIRST COMMUNITY TRUST:
Cash and Equivalents 3.12% 89,664
US Treasury Obligations 0.00%
US Agencies 96.88% 2,781,549
Mortgaged Backed Securities 0.00%
Municipal Bons 0.00%
Total 100.00% 2,871,213
US BANK:
Cash and Equivalents 1.58% 115,187
US Treasury Obligations 6.87% 500,289
US Agencies 70.26% 5,114,017
Mortgaged Backed Securities 21.29% 1,549,638
Municipal Bons 0.00%
Total
GRAND TOTAL
100.00% 7,279,131
9.26%
11.38%
4.49%
11.38%
23,351,493 36.52%
BREAKDOWN BY TYPE OF SECURITY:
Cash 2.79% 652,267 1.02%
Mutual Funds (US Government) 2.14% 500,289 0.78%
Certificates Of Deposit 83.77% 19,562,064 30.59%
US Treasury Obligations 8.77% 2,048,388 3.20%
Federal Agency Obligations 2.52% 588,486 0.92%
TOTAL MANAGED FUNDS 100.00% 23,351,493 36.52%
Page 1
CITY OF DUBUQUE
SCHEDULE OF CITY FUNDS
June 30, 2007
FY07
OTHER FUNDS TOTAL
COST CITY FUNDS
BASIS PERCENTAGE
CASH
Change and Petty Cash Funds 8,950
Prescriptions & Workers Comp Deposits 85,000
Total 93, 950 0.15%
CHECKING /SAVINGS ACCOUNTS:
American Trust & Savings Bank (General & Health) 1,446,987
American Trust & Savings Bank (America's River Bonds) 449,516
American Trust & Savings Bank (Housing Rehab & Section 8) 115,401
Dubuque Bank & Trust (General/Metro/Leisure) 5,003,409
Dubuque Bank & Trust (DICW Bonds) 804,721
Dubuque Bank & Trust (Comml/Ind Bldg Rehab & Econ Dev) 88,034
Dubuque Bank & Trust (Cable Franchise Equipment Fund) 285,721
US Bank (General/Ambulance) 28,588
Premier (Utility) 32,032
Liberty (Utility) 17,213
East Dubuque Savings Bank (Stormwater Bonds) 2,381,748
East Dubuque Savings Bank (Parking Bonds) 332,403
East Dubuque Savings Bank (Utility) 2,611
State Central (Utility) 3,271
Total 10, 991, 657 17.19%
CERTIFICATES OF DEPOSIT:
American Trust & Savings Bank 8,500,000
Dubuque Bank & Trust 4,000,000
East Dubuque Savings Bank 5,000,000
Liberty Bank 2,000,000
Premier Bank 0
State Central 9,000,000
US Bank 1,000,000
Tota! 29, 500, 000 46.13%
U.S. TREASURY OBLIGATIONS 0.00%
CORPORATE STOCK (Lyons Peony Trust) 11,514 0.02%
TOTAL OTHER FUNDS 40,597,121 63.48%
TOTAL CITY FUNDS 63,948,614 100.00%
RECAP OF PORTFOLIO PERCENTAGES ~ MANAGED FUNDS OTHER FUNDS COMBINED TOTAL
CASH 1.02% 0.15% 1.17%
CHECKING 1 SAVINGS ACCTS 0.00% 17.19% 17.19%
MUTUAL FUNDS (U.S. GOVERNMENT) 0.78% 0.00% 0.78%
CERTIFICATES OF DEPOSIT 30.59% 46.13% 76.72%
U.S. TREASURY OBLIGATIONS 3.20% 0.00% 3.20%
FEDERAL AGENCY OBLIGATIONS 0.92% 0.00% 0.92%
CORPORATE STOCK 0.00% 0.02% 0.02%
Tota! 36.52% 63.48% 100.00%
Page 2
City of Dubuque
Schedule of Certificates of Deposit
As of
June 30, 2007
Certificate
Numbe
Institution Cost
Basis Purchase
Date Maturity
Date Interest
Rate Days to
Maturity Accrued
Days Accrued
Interest
15839 EDSB 1,000,000 10/17/06 07/02/07 5.416% 2 256 37,986.19
13506 State Central 1,000,000 12/20/06 07/05/07 5.176% 5 192 27,227.18
433026711 US Bank 1,000,000 01/18/07 07/11/07 5.170% 11 163 23,087.95
200082 Liberty M 1,000,000 11/30/06 07/12/07 5.290% 12 212 30,725.48
510817 DB&T 1,000,000 04/16/07 07/18/07 5.220% 18 75 10,726.03
13514 State Central 1,000,000 12/21 /06 07/19/07 5.189% 19 191 27,153.40
16727 EDSB 1,000,000 02/01 /07 07/26/07 5.273% 26 149 21,525.40
13571 State Central 1,000,000 01/04/07 08/02/07 5.179% 33 177 25,114.60
13474 State Central M 1,000,000 12/14/06 08/09/07 5.271 % 40 198 28,593.37
510829 DB&T 1,000,000 05/17/07 08/15/07 5.280% 46 44 6,364.93
510818 DB&T 1,000,000 04/16/07 08/16/07 5.220% 47 75 10,726.03
17239 EDSB 1,000,000 03/21/07 08/23/07 5.286% 54 101 14,627.01
17611 EDSB 1,000,000 05/24/07 08/29/07 5.294% 60 37 5,366.52
16963 EDSB 1,000,000 03/01/07 08/30/07 5.323% 61 121 17,646.11
13804 State Central 1,000,000 04/13/07 09/05/07 5.298% 67 78 11,321.75
13600 State Central M 1,000,000 01/11/07 09/06/07 5.183% 68 170 24,140.00
120044 AT&S 1,000,000 03/15/07 09/13/07 5.260% 75 107 15,419.73
120463 AT&S 1,000,000 04/17/07 09/19/07 5.260% 81 74 10,664.11
13765 State Central M 1,000,000 03/22/07 09/20/07 5.297% 82 100 14,512.33
13771 State Central 1,000,000 03/29/07 09/27/07 5.301 % 89 93 13,506.66
120721 AT&S 1,000,000 05/22/07 10/03/07 5.280% 95 39 5,641.64
13678 State Central M 1,000,000 02/08/07 10/04/07 5.284% 96 142 20,556.93
120495 AT&S 1,000,000 04/23/07 10/11/07 5.260% 171 68 9,799.45
510819 DB&T 1,000,000 04/19/07 10/18/07 5.230% 182 72 10,316.71
120228 AT&S M 1,000,000 03/08/07 11/01/07 5.310% 124 114 16,584.66
120534 AT&S 1,000,000 05/10/07 11/08/07 5.260% 168 14 2,017.53
120715 AT&S M 500,000 05/21/07 11/20/07 5.260% 143 40 2,882.19
120443- AT&S M 1,000,000 04/05/07 11/29/07 5.210% 152 86 12,275.62
120474 AT&S M 1,000,000 05/03/07 12/13/07 5.240% 166 58 8,326.58
204973 Liberty 1,000,000 06/14/07 12/27/07 5.405% 180 16 2,369.32
Totals 29,500,000 467,205.41
Acrued Interest Distribution
Weighted Yield: 5.264% DMASWA 158,597.16
Weighted Maturity in Days: 78.02 General 308,608.25
(M) =DUBUQUE METROPOLITAN AREA SOLID WASTE AGE NCY 467,205.41