Quarterly Investment Report Copyright 2014
City of Dubuque Consent Items # 7.
ITEM TITLE: Quarterly Investment Report
SUMMARY: City Manager transmitting the Quarterly Investment Report
for December 21 , 2015.
SUGGESTED DISPOSITION: Suggested Disposition: Receive and File
ATTACHMENTS:
Description Type
December 31, 2015 Quarterly Investment Report-MVM City Manager Memo
Memo
Staff Memo Supporting Documentation
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 Supporting Documentation
Interest
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, 2015 Quarterly Investment Report
DATE: January 26, 2016
Finance Director Ken TeKippe is transmitting the attached December 31, 2015
Quarterly Investment Report.
// 'zj� 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 CITY OF Dubuque
AII-Ame1 rica City
DUB9kE r
Masterpiece on the Mississippi 2007.2012.2013
TO: Michael C. Van Milligen, City Manager
FROM: Kenneth J. TeKippe, Finance Director
RE: December 31, 2015 Quarterly Investment Report
DATE: January 26, 2016
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, 2015 through December 31, 2015.
The report includes: Cash Investments and Investment Earnings Summary
for quarter ended December 31, 2015 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 December 31, 2015 And Fiscal Year To Date
Market Value / Unrealized
Carrying Including Gain (Loss) /
Description Value Accrued Interest Accrued Interest
Change & Petty Cash Funds 14,232 14,232
Checking/Savings Accounts 11 ,618,018 11 ,618,018
High Yield Savings Accounts - 14 14
Unspent Bond Proceeds 40,326,767 40,326,767 -
Certificates Of Deposit 12,000,000 12,019,659 19,659
US Treasury Securities 2,015,125 2,725,865.45 710,740
Corporate Stock (EB Lyons Trust) 11 ,514 90,576 79,062
Investment Advisor Accounts 26,520,621 26,504,917 (15,704)
Total Funds 92,506,276 93,300,048 793,772
Breakdown
City 78,502,704 79,276,817 774,113
Metro 14,003,572 14,023,231 19,659
Total Combined Funds 92,506,276 93,300,048 793,772
Cash Basis Quarter Year-To-Date
Gross Earninas:
City 49,901 338,228
Metro 3,187 6,971
Combined 53,088 345,199
Investment Fees:
City 25,907 49,032
Metro 177 294
Combined 26,084 49,326
Net Earninas:
City 23,993 289,195
Metro 3,011 6,678
Combined 27,004 295,873
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De—d—31, 2015 TOTAL
COST CITY FUNDS
CITY MANAGED FUNDS BASIS PERCENTAGE
CASH:
Change and Petty Cash Funds 14,232
Health Fund Deposit 150,000
Prescription Fund Deposit 75,000
Workers Comp Deposit 10,000
Ambulance Deposit 1,000
Total 250,232 0.3%
CHECKING/SAVINGS ACCOUNTS:
American Trust&Savings Bank(General) 170,220
American Trust&Savings Bank(Housing Rehab§ion a) 110,084
Dubuque Bank&Trust(General/Metro/Credit) 10,324,676
Dubuque Bank&Trust(cable Franchise Equipment Fund) 700,287
US Bank (General/Ambulance) 15,054
Premier(ututy) 8,596
Fidelity Bank&Trust(unity) 15,506
Dubuque Bank&Trust Police Forfeiture Funds 37,596
BBVA Compass 0
Total 11,382,018 12.0%
UNSPENT BOND PROCEED INVESTMENT ACCOUNTS:
AT&S Series 2010A 361,124
AT&S Series 2010B 280,718
DB&T Series 2011A 330,488
DB&T Series 2012B 2,424,589
DB&T Series 2012C 824,031
DB&T Series 2012D 1,031,361
DB&T Series 2012E 1,138,689
AT&S Series 2012F 473,022
DB&T Series 2012H 1,411,715
AT&S Series 2014A 1,432,552
AT&S Series 2014B 9,534,779
AT&S Series 2014C 1,470,514
AT&S DMASWA 1,444,546
AT&S Series 2015A 7,619,931
Fidelity Series 2015A 10,548,710
Total 40,326,767 42.3%
CERTIFICATES OF DEPOSIT:
AT&S 5,600,000
DB&T 3,600,000
FB&T 900,000
EDSB 1,900,000
Total 12,000,000 12.6%
HIGH YIELD SAVINGS ACCOUNTS:
East Dubuque Savings Bank(Advantage savings) 0
0 0.0%
U.S.TREASURY OBLIGATIONS:
Debt Service Reserve Fund Required for Port Ramp 2,015,125
Total 2,015,125 2.1%
RESERVES:
Sales Tax Increment Rev Bond Reserve(canes 2015A) 2,094,488
Water Debt Bond Reserve(canes 2008D&20/oD) 644,700
Total 2,739,188 2.9%
CORPORATE STOCK(Lyons Peony Trust): 11,514
Total 11,514 0.0%
TOTAL CITY MANAGED FUNDS 68,724,843 72.2%
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PORTFOLIO TOTAL
COMPOSITION COST CITY FUNDS
FINANCIAL ADVISORS MANAGED FUNDS PERCENTAGE BASIS PERCENTAGE
DANA INVESTMENT ADVISORS,INC:
Cash and Equivalents 2.8% 172,310
US Treasury Obligations 0.0% 0
US Agencies 23.6% 1,448,806
Mortgaged Backed Securities 73.6% 4,519,001
Total 100.0% 6,140,117 23.2%
DUBUQUE BANK&TRUST:
Cash and Equivalents 4.2% 331,409
US Treasury Obligations 95.8% 7,613,498
US Agencies 0.0% 0
Mortgaged Backed Securities 0.0% 0
Total 100.0% 7,944,906 30.0%
FIRST COMMUNITY TRUST:
Cash and Equivalents 1.6% 80,886
US Treasury Obligations 0.0% 0
US Agencies 92.4% 4,731,553
Mortgaged Backed Securities 6.0% 305,909
Total 100.0% 5,118,348 19.3%
US BANK:
Cash and Equivalents 30.4% 2,225,869
US Treasury Obligations 0.0% 0
US Agencies 67.9% 4,966,353
Mortgaged Backed Securities 1.7% 125,027
Total 100.0% 7,317,249 27.6%
TOTAL FINANCIAL ADVISORS MANAGED FUNDS 26,520,621 27.8%
BREAKDOWN BY TYPE OF SECURITY:
Cash& Equivalents 10.6% 2,810,473
US Treasury Obligations 28.7% 7,613,498
US Agencies 42.0% 11,146,712
Mortgage Backed Securities 18.7% 4,949,938
Total 100.0% 26,520,621
TOTAL CITY FUNDS 95,245,464 100.0%
RECAP OF PORTFOLIO PERCENTAGES Managed City Combined
CASH&EQUIVALENTS 295% 026% 321%
CHECKING/SAVINGS ACCTS 000% 5429% 5429%
MORTGAGE BACKED SECURITIES 520% 0.00% 520%
CERTIFICATES OF DEPOSIT 000% 12.60% 12.60%
U.S.TREASURY OBLIGATIONS 799% 2.12% 10.11%
FEDERAL AGENCIES 1170% 0.00% 11.70%
Total 27.84% 69.27% 97.110/,
P_2
CITY OF DUBUQUE
MONTHLY INVESTMENT SUMMARY
Month Ending: 12131/15
First
Community Managed Combined
Dana DB&T Trust US Bank Accounts City Finance Total
COST BASIS ANALYSIS
Cost Basis Prior Month 6,137,378 7,947,162 5,108,492 7,316,527 26,509,560 77,860,421 104,369,981
Additions:
Interest Earnings 7,460 2 11,941 2,829 22,232 32,972 55,204
Realized Gains(Losses) (1,589) 0 (527) 0 (2,116) (2,116)
Total Additions 5,871 2 11,414 2,829 20,116 32,972 53,088
Subtractions:
Management Fees (2,590) (1,642) (1,062) (1,519) (6,813) (6,813)
Custodian Fees (543) (614) (496) (588) (2,242) (2,242)
Bank Charges (547) (547)
Total Subtractions (3,133) (2,257) (1,559) (2,107) (9,055) (547) (9,602)
Cost Basis Current Month 6,140,117 7,944,906 5,118,348 7,317,249 26,520,621 77,892,846 104,413,467
Net Cash Receipts&(Disbursements) (9,164,103) (9,164,103)
Ending Cost Basis Balance 6,140,117 7,944,906 5,118,348 7,317,249 26,520,621 68,728,743 95,249,364
MARKET VALUE ANALYSIS
Investment Market Value Prior Month(Adjusted for Accruals) 6,217,378 7,913,651 5,117,311 7,291,143 26,539,483 78,669,903 105,209,386
Investment Market Value Current Month 6,194,204 7,892,053 5,096,673 7,262,652 26,445,583 69,482,160 95,927,742
Accrued Interest Current Month 13,810 12,975 13,748 18,802 59,334 44,202 103,536
Market Value Adjusted for Accruals 6,208,014 7,905,028 5,110,421 7,281,454 26,504,917 69,526,362 96,031,279
Portfolio Returns(computed by Investment Ma rapers)
Monthly Return Gross of Fees 0.01% (0.03%) (0.37%) (0.15%)
Monthly Return Net of Fees (0.01%) (0.06%) (0.40%) (0.16%)
Total Return Calendar Year to Date 2015 Gross 0.69% 0.25% 1.99% 0.76%
Effective Duration in Years 0.85 2.33 3.14 2.51
Market Indices
Average Last Calendar Last Last
Month Year to Date 12 Months 3 Years
Barclays 90 Day T-Bills -0.01% 0.04% 0.04% 0.07%
Barclays Short Term 1-3 Yr Govt.bonds -0.09% 0.91% 0.82% 0.68%
Barclays Intermediate Govt bonds -0.32% 1.71% 1.96% 1.05%
Barclays Government Bonds -0.35% 1.43% 2.36% 1.23%
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, 2015
Certificates of Deposit:
Certificate Cost Purchase Maturity Interest Daysto Accrued Accrued
Number Institution " Basis Date Date Rate Maturity Days Interest
28016 EDSB M 900,000 06/08/15 01/14/16 0.42% 14 206 2,138.45
4214 EDSB M 800,000 07/07/15 02/02/16 0.50% 33 177 1,939.73
28083 EDSB M 1,000,000 08/03/15 03/10/16 0.52% 70 150 2,141.10
4278 DB&T C 2,000,000 09/18/15 03/17/16 0.55% 77 104 3,134.25
5099905126 AT&S M 1,000,000 09/04/15 04/11/16 0.62% 102 118 2,007.62
5354670878 AT&S C 2,000,000 09/16/15 05/27/16 0.60% 148 106 3,484.93
4295 DB&T M 800,000 10/06/15 05/13/16 0.52% 134 86 980.16
5528381790 AT&S M 600,000 11/09/15 05/09/16 0.68% 130 52 576.99
5225367779 AT&S C 2,000,000 11/09/15 05/27/16 0.68% 148 52 1,923.29
124509 FB&T M 900,000 12/03/15 06/02/16 0.53% 154 28 362.47
Totals 12,000,000 18,688.99
High Yield Savings Account
Account Ending APR @ Accrued
Number Institution " Balance Month End Interest Account CD Balance Accrued Interest
44444116 Fidelity C 0 0.22% 14.21 DMASWA 6,000,000 10,146.52
Totals 0 14.21 City 6,000,000 8,542.47
12,000,000 18,688.99
U.S.Treasury Bond
Account Ending Face Value Accrued
Number Institution U Balance Interest Rate Interest Weighted Yield: 0.572%
2152-1478 LPL Financial C 2,689,480 4.75% 36,385.52 Weighted Maturity in Days: 95.2
Totals 2,689,480 36,385.52
Unspent Bond Proceed Accounts:
rc Ending APR @ Accrued
Bond Issue Institution v Balance Month End Interest
2010A AT&S C 361,185 0.20% 61.34
2010B AT&S C 280,766 0.20% 47.68
2011A DB&T C 330,488 0.30% 84.16
2012B DB&T C 2,425,227 0.32% 662.48
2012C DB&T C 824,254 0.33% 230.89
2012D DB&T C 1,031,649 0.34% 304.64
2012E DB&T C 1,138,689 0.17% 175.21
2012F AT&S C 473,142 0.30% 120.52
2012H DB&T C 1,411,715 0.17% 203.77
2014A AT&S C 1,433,283 0.48% 731.55
2014B AT&S C 9,540,814 0.52% 6,751.45
2014C AT&S C 1,471,094 0.48% 896.72
DMASWA AT&S M 1,445,135 0.45% 731.59
2015A AT&S C 7,623,230 0.50% 3,298.47 Institution %of Total Bond Balance
2015A FB&T C 10,557,669 0.68% 8,959.18 AT&S 52.51 22,628,649
2015A FB&T R 2,097,156 1.50% 2,668.32 DB&T 16.62 7,162,023
2008D FB&T R 119,500 0.61% 179.74 FB&T 24.50 10,557,669
2010D FB&T R 525,200 0.61% 789.96 Reserve 6.36 2,741,856
Totals 43,090,197 26,898 100.00% 43,090,197
(C)-CITY FUNDS (M)-DUBUQUE METROPOLITAN AREA SOLID WASTE AGENCY (R)-RESERVE FUNDS
PnntDate:125/2016