Quarterly Investment Report for December 31, 2014 Copyright 2014
City of Dubuque Consent Items # 5.
ITEM TITLE: Quarterly Investment Report for December 31 , 2014
SUMMARY: City Manager transmitting the December 31 , 2014 Quarterly Investment
Report
SUGGESTED DISPOSITION: Suggested Disposition: Receive and File
ATTACHMENTS:
Description Type
❑ December 31,2014 Quarterly Investment Report-MVM Memo City Manager Memo
❑ December 31,2014 Quarterly Investment Report 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
UBE I
erica .i
Masterpiece on the Mississippi 2007-2012-2013
TO: The Honorable Mayor and City Council Members
FROM: Michael C. Van Milligen, City Manager
SUBJECT: December 31, 2014 Quarterly Investment Report
DATE: February 9, 2015
Finance Director Ken TeKippe is transmitting the December 31, 2014 Quarterly
Investment Report.
S4-'6�-
Micliael C. Van Milligen
MCVM:jh
Attachment
cc: Barry Lindahl, City Attorney
Cindy Steinhauser, Assistant City Manager
Teri Goodmann, Assistant City Manager
Ken 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: December 31, 2014 Quarterly Investment Report
DATE: January 30, 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 October 1, 2014 through December 31, 2014.
The report includes: Cash Investments and Investment Earnings Summary
for quarter ended December 31, 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 December 31, 2014 And Fiscal Year To Date
Market Value / Unrealized
Carrying Including Gain (Loss) /
Description Value Accrued Interest Accrued Interest
Change & Petty Cash Funds 12,796 12,796
Checking/Savings Accounts 1 ,267,855 1 ,267,855 -
HighYieldSavingsAccounts 10,129,275 10,130,424 1 ,149
Unspent Bond Proceeds 46,066,869 46,066,869 -
Certificates Of Deposit 6,000,000 6,004,438 4,438
US Treasury Securities 2,015,125 2,838,038 822,913
Corporate Stock (EB Lyons Trust) 11 ,514 91 ,386 79,872
Investment Advisor Accounts 26,348,075 26,419,657 71 ,582
Total Funds 91,851,509 92,831,463 979,954
Breakdown
City 85,453,958 86,429,474 975,516
Metro 6,397,551 6,401 ,989 4,438
Total Combined Funds 91,851,509 92,831,463 979,954
Cash Basis Quarter Year-To-Date
Gross Earnings:
City 116,745 258,927
Metro 6,999 12,650
Combined 123,744 271,576
Investment Fees:
City 49,746 74,368
Metro 170 1 287
Combined 49,916 74,656
Net Earnings:
City 66,999 184,558
Metro 6,829 12,362
Combined 73,828 196,921
FV123DATAAFINSEC\l 0 A C\MVM Quarterly Inv.Report;AQuarterly Report;to Council Electronically\2014 DecACouncil Summary G2015 As 1/29/2015
City of Dubuque FY 15
Schedule of City Funds
December 2014
TOTAL
COST CITYFUNDS
City Managed Funds BASIS PERCENTAGE
CASH:
Change and Petty Cash Funds 12,796
Health Fund Deposit 150,000
Prescription Fund Deposit 75,000
Workers Comp Deposit 10,000
Total 247,796 0.4%
CHECKING I SAVINGS ACCOUNTS:
American Trust&Savings Bank(General) 393,498
American Trust&Savings Bank(Housing Rehab&Section e) 115,666
Dubuque Bank&Trust(General/Metro/Leisure) (89,235)
Dubuque Bank&Trust(cable Franchise Equipment Fund) 547,362
US Bank (General/Ambulance) 12,269
Premier(utility) 6,881
East Dubuque Savings Bank(Lnility) 8,830
Dubuque Bank&Trust Police Forfeiture Funds 37,584
BBVA Compass 0
Total 1,032,855 1.6%
UNSPENT BOND PROCEED INVESTMENT ACCOUNTS:
DB&T Series 2009A 172,589
AT&S Series 2010A 372,195
AT&S Series 2010B 1,066,083
DB&T Series 2011 A 476,099
DB&T Series 2012A 835,251
DB&T Series 2012B 2,494,688
DB&T Series 2012C 2,246,545
DB&T Series 2012D 2,546,069
DB&T Series 2012E 1,604,639
AT&S Series 2012F 537,891
DB&T Series 2012H 2,019,775
AT&S Series 2014A 5,491,748
AT&S Series 2014B 9,664,444
AT&S Series 2014B 9,000,000
AT&S Series 2014C 7,538,850
Total 46,066,869 70.3%
CERTIFICATES OF DEPOSIT:
DB&T 2,600,000
ATSB 1,600,000
EDSB 1,800,000
Total 6,000,000 9.2%
HIGH YIELD SAVINGS ACCOUNTS:
Dubuque Bank&Trust(Premium Savings) 8,614,244
East Dubuque Savings Bank(Advantage Savings) 1,515,030
10,129,275 15.5%
U.S.TREASURY OBLIGATIONS:
Debt Service Reserve Fund Required for Port Ramp 2,015,125
Total 2,015,125 3.1%
CORPORATE STOCK(Lyons Peony Trust): 11,514
Total 11,514 0.0%
TOTAL CITY MANAGED FUNDS 65,503,434 71.3%
vasa 1
City of Dubuque FY 15
Schedule of City Funds
December 2014
FINANCIAL ADVISORS MANAGED FUNDS
PORTFOLIO TOTAL
COMPOSITION COST CITYFUNDS
PERCENTAGE BASIS PERCENTAGE
DANA INVESTMENT ADVISORS, INC:
Cash and Equivalents 3.1% 292,442
US Treasury Obligations 43.0% 2,594,082
US Agencies 0.0%
Mortgaged Backed Securities 53.9% 3,218,345
Total 100.0% 6,104,870 8.7%
DUBUQUE BANK&TRUST:
Cash and Equivalents 3.1% 256,091
US Treasury Obligations 96.9% 7,652,391
US Agencies 0.0%
Mortgaged Backed Securities 0.0%
Total 100.0% 7,908,481 11.3%
FIRST COMMUNITY TRUST:
Cash and Equivalents 29.9% 48,043
US Treasury Obligations 0.0%
US Agencies 60.3% 4,577,464
Mortgaged Backed Securities 9.8% 417,650
Total 100.0% 5,043,157 7.1%
US BANK:
Cash and Equivalents 11.1% 2,004,122
US Treasury Obligations 13.8% 500,000
US Agencies 75.1% 4,787,445
Mortgaged Backed Securities 0.0%
Total 100.0% 7,291,567 10.4%
GRAND TOTAL 26,348,075 37.4%
BREAKDOWN BY TYPE OF SECURITY:
Cash& Equivalents 10.4% 2,600,698 3.9%
US Treasury Obligations 43.0% 10,746,473 16.1%
US Agencies 32.3% 9,364,909 12.1%
Mortgage Backed Securities 14.4% 3,635,995 5.4%
TOTAL FINANCIAL ADVISORS MANAGED FUNDS 100.0% 26,348,075 37.4%
TOTAL CITY FUNDS 91,851,509 100.0%
RECAP OF PORTFOLIO PERCENTAGES Managed City Combined
CASH&EQUIVALENTS 3% 0% 3%
CHECKING/SAVINGS ACCTS 0% 62% 62%
MORTGAGE BACKED SECURITIES 4% 0% 4%
CERTIFICATES OF DEPOSIT 0% 7% 7%
U.S.TREASURY OBLIGATIONS 12% 2% 14%
FEDERAL AGENCIES 10% 0% 10%
Total 29% 71% 100%
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CITY OF DUBUQUE
MONTHLY INVESTMENT SUMMARY
Month Ending: 12131/14
First
Community Managed Combined
Dana DB&T Trust US Bank Accounts City Finance Total
COST BASIS ANALYSIS
Cost Basis Prior Month 6,103,909 7,910,744 5,021,722 7,284,642 26,321,016 42,821,052 69,142,068
Additions:
Interest Earnings 6,003 1 9,335 8,402 23,740 10,498 34,238
Realized Gains(Losses) (1,915) 13,642 620 12,348 12,348
Total Additions 4,088 1 22,977 9,022 36,088 10,498 46,586
Subtractions:
Management Fees (2,584) (1,649) (1,048) (1,510) (6,791) (6,791)
Custodian Fees (542) (615) (494) (587) (2,238) (2,238)
Bank Charges (534) (534)
Total Subtractions (3,126) (2,264) (1,542) (2,097) (9,029) (534) (9,563)
Cost Basis Current Month 6,104,870 7,908,481 5,043,157 7,291,567 26,348,075 42,831,017 69,179,092
Net Cash Receipts&(Disbursements) 22,672,417 22,672,417
Ending Cost Basis Balance 6,104,870 7,908,481 5,043,157 7,291,567 26,348,075 65,503,434 91,851,509
MARKET VALUE ANALYSIS
Investment Market Value Prior Month(Adjusted for Accruals) 6,228,673 7,937,894 5,072,249 7,268,327 26,507,143 43,647,898 70,155,041
Investment Market Value Current Month 6,186,179 7,907,363 5,016,774 7,241,320 26,351,636 66,369,834 92,721,470
Accrued Interest Current Month 20,628 11,222 17,484 18,686 68,020 41,973 109,993
Market Value Adjusted for Accruals 6,206,808 7,918,585 5,034,258 7,260,006 26,419,657 66,411,806 92,831,463
Portfolio Returns(computed by Investment Managers)
Monthly Return Gross of Fees (0.14%) (0.12%) (0.32%) (0.10%)
Monthly Return Net of Fees (0.17%) (0.15%) (0.35%) (0.13%)
Total Return Calendar Year to Date 2014 Gross 0.90% 0.97% 4.02% 0.49%
Effective Duration in Years 0.79 1.81 2.55 1.40
Market Indices
Average Last Calendar Last Last
Month Year to Date 12 Months 3 Years
Barclays 90 Day T-Bills (0.12%) 0.05% 0.50% 0.09%
Barclays Short Term 1-5 Yr Govt.bonds (0.24%) 0.64% 0.64% 0.51%
Barclays Intermediate Govt bonds (0.26%) 2.52% 2.52% 0.99%
Barclays Government Bonds 0.13% 4.92% 4.92% 1.40%
Current Prime Rate 3.25%
City of Dubuque
Schedule of Certificates of Deposit,Accrued Interest, High Yield Savings Accounts &Unspent Bond Proceeds
As of
December 31, 2014
Certificates of Deposit:
Certificate CSM Cost Purchase Maturity Interest Days to Accrued Accrued
Number Institution Basis Date Date Rate Maturity Das Interest
3913 DB&T M 800,000 10/16/14 04/16/15 0.39% 106 76 649.64
9955 ATSB M 1,000,000 11/10/14 05/11/15 0.40% 131 51 558.90
3109 ATSB M 600,000 08/01/14 01/30/15 0.38% 30 152 949.48
3818 DB&T M 1,000,000 08/15/14 02/13/15 0.40% 44 138 1,512.33
3845 DB&T M 800,000 09/04/14 03/05/15 0.04% 64 118 103.45
27888 EDSB M 1,000,000 11/25/14 06/08/15 0.42% 159 36 415.23
AAAA EDSB M 800,000 12/04/14 07/07/15 0.42% 188 27 249.14
Totals 6,000,000 4,438.17
Account CD Balance Accrued Interest
DMASWA 6,000,000 4,438.17
Weighted Yield: 0.355% City 0 0.00
Weighted Maturity in Days: 106.4 6,000,000 4,438.17
High Yield Savings Accounts
Account CIM Ending APR @ Accrued
Number Institution Balance Month End Interest
671460 DB&T C 8,614,244 0.12% 762.86
44444116 EDSB C 1,515,030 0.30% 385.99
10,129,275 1,148.85
U.S. Treasury Bond
Account aM Ending Maturity Face Value Accrued
Number Institution Balance Date Interest Rate Interest
2152-1478 LPL Financial C 2,801,652 02/15/37 4.75% 36,385.52
Unspent Bond Proceed Investment Accounts:
Ending APR
Bond Issue institutior7c7imBalance Month End
2009A DB&T C 172,589 0.50%
2010A AT&S C 372,134 0.30%
2010B AT&S C 1,078,388 0.30%
2011A DB&T C 476,394 0.30%
2012A DB&T C 1,922,769 0.32%
2012B DB&T C 2,525,648 0.32%
2012C DB&T C 2,318,122 0.32%
2012D DB&T C 2,642,842 0.32%
2012E DB&T C 1,604,415 0.17%
2012F DB&T C 537,759 0.35%
2012H DB&T C 2,019,493 0.17%
2014A AT&S C 6,110,057 0.48%
21,780,610
(M)=DUBUQUE METROPOLITAN AREA SOLID WASTE AGENCY
(C)=CITY FUNDS
Print Date:1202015