Quarterly Investment Report for July 30, 2016 Copyright 2014
City of Dubuque Consent Items # 12.
ITEM TITLE: Quarterly Investment Report for July 30, 2016
SUMMARY: City Manager transmitting the June 30, 2016 Quarterly
Investment Report.
SUGGESTED DISPOSITION: Suggested Disposition: Receive and File
ATTACHMENTS:
Description Type
Quarterly Investment Report-MVM Memo City Manager Memo
June 30, 2016 Quarterly Investment Report 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 Supporting Documentation
Interest
THE CITY OF Dubuque
DUB E i"
Masterpiece on the Mississippi 2007.2012.2013
TO: The Honorable Mayor and City Council Members
FROM: Michael C. Van Milligen, City Manager
SUBJECT: June 30, 2016 Quarterly Investment Report
DATE: August 9, 2016
Finance Director Jean Nachtman is transmitting the June 30, 2016 Quarterly Investment
Report.
Zia,
Mic ael C. Van Milligen
MCVM:jh
Attachment
cc: Barry Lindahl, City Attorney
Cindy Steinhauser, Assistant City Manager
Teri Goodmann, Assistant City Manager
Jean Nachtman, Finance Director
THE CITY OF Dubuque
AII11-America CiI.ty
UB E1
Masterpiece on the Mississippi 2007.2012.2013
TO: Michael C. Van Milligen, City Manager
FROM: Jean Nachtman, Finance Director
RE: June 30, 2016 Quarterly Investment Report
DATE: August 1, 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 April 1, 2016 through June 30, 2016.
The report includes: Cash Investments and Investment Earnings Summary
for quarter ended June 30, 2016 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.
JN/eml
Enclosures
CITY OF DUBUQUE
Cash, Investments and Investment Earnings Summary
For The Quarter Ended June 30, 2016 And Fiscal Year To Date
Market Value / Unrealized
Carrying Including Gain (Loss) /
Description Value Accrued Interest Accrued Interest
Change & Petty Cash Funds 17,297 17,297
Checking/Savings Accounts 2,836,000 2,836,000
Unspent Bond Proceeds 10,601 ,708 10,601 ,708 -
Certificates Of Deposit 800,000 844,520 44,520
US Treasury Securities 2,015,125 3,014,593 999,468
Corporate Stock (EB Lyons Trust) 11 ,514 109,693 98,179
Investment Advisor Accounts 26,621 ,256 26,827,899 206,643
Total Funds 42,902,900 44,251,709 1,348,809
Breakdown
City 39,925,502 41 ,229,791 1 ,304,289
Metro 2,977,398 3,021 ,918 44,520
Total Combined Funds 42,902,900 44,251,709 1,348,809
Cash Basis Quarter Year-To-Date
Gross Earnings:
City 264,459 769,605
Metro 13,420 41 ,511
Combined 277,878 811,116
Investment Fees:
City 33,955 98,412
Metro 215 414
Combined 34,170 98,826
Net Earnings:
City 230,504 671 ,193
Metro 13,205 41 ,097
Combined 243,708 712,290
Gr, ,D,
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J e 30,2016 TOTAL
COST CITY FUNDS
CITY MANAGED FUNDS BASIS PERCENTAGE
CASH:
Change and Petty Cash Funds 17,297
Health Fund Deposit 150,000
Prescription Fund Deposit 75,000
Workers Comp Deposit 10,000
Ambulance Deposit 1,000
Total 253,297 0.29%
CHECKING/SAVINGS ACCOUNTS:
American Trust&Savings Bank(General) 1,946,406
American Trust&Savings Bank(Housing Rehab§ion a) 109,817
Dubuque Bank&Trust(General/Metro/Credit) 7,854,703
Dubuque Bank&Trust(cable Franchise Equipment Fund) 724,725
US Bank (General/Ambulance) 46,305
Premier(ututy) 13,322
Fidelity Bank&Trust(unity) 110,174
Dubuque Bank&Trust Police Forfeiture Funds 37,601
BBVA Compass 0
Dubuque Bank&Trust(zaber Escrow) 2,600,000
Total 13,443,052 15.54%
UNSPENT BOND PROCEED INVESTMENT ACCOUNTS:
AT&S Series 2010A 361,486
AT&S Series 2010B 199,696
DB&T Series 2011A 330,984
DB&T Series 2012B 2,391,923
DB&T Series 2012C 651,079
DB&T Series 2012D 948,450
DB&T Series 2012E 184,034
AT&S Series 2012F 402,909
DB&T Series 2012H 1,399,110
AT&S Series 2014A 0
AT&S Series 2014B 6,834,620
AT&S Series 2014C 1,166,770
AT&S DMASWA 1,195,743
AT&S Series 2015A 4,898,060
Fidelity Series 2015A 10,601,708
DB&T Series 2016B 0
Fidelity Series 2016C 3,998,459
Total 35,565,032 41.12%
CERTIFICATES OF DEPOSIT:
AT&S 3,900,000
DB&T 800,000
DB&T ZABER 230,000
FB&T 900,000
Total 5,830,000 6.74%
U.S.TREASURY OBLIGATIONS:
Debt Service Reserve Fund Required for Port Ramp 2,015,125
Total 2,015,125 2.33%
RESERVES:
Sales Tax Increment Rev Bond Reserve(canes 2015A) 2,110,289
Water Debt Bond Reserve(canes 2008D&20/oD) 644,700
Total 2,754,989 3.19%
CORPORATE STOCK(Lyons Peony Trust): 11,514
Total 11,514 0.01%
TOTAL CITY MANAGED FUNDS 59,873,008 69.22%
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Gr, ofD,
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J e 30,2016
PORTFOLIO TOTAL
COMPOSITION COST CITY FUNDS
FINANCIAL ADVISORS MANAGED FUNDS PERCENTAGE BASIS PERCENTAGE
DANA INVESTMENT ADVISORS,INC:
Cash and Equivalents 5.7% 353,816
US Treasury Obligations 0.0% 0
US Agencies 21.9% 1,353,069
Mortgaged Backed Securities 72.3% 4,460,110
Total 100.0% 6,166,995 23.17%
DUBUQUE BANK&TRUST:
Cash and Equivalents 4.5% 361,302
US Treasury Obligations 95.5% 7,617,498
US Agencies 0.0% 0
Mortgaged Backed Securities 0.0% 0
Unsettled Trades 0.0% 0
Total 100.0% 7,978,800 29.97%
FIRST COMMUNITY TRUST:
Cash and Equivalents 1.1% 55,169
US Treasury Obligations 0.0% 0
US Agencies 93.9% 4,831,453
Mortgaged Backed Securities 5.1% 260,537
Total 100.0% 5,147,160 19.33%
US BANK:
Cash and Equivalents 33.3% 2,438,431
US Treasury Obligations 0.0% 0
US Agencies 65.0% 4,764,843
Mortgaged Backed Securities 1.7% 125,027
Total 100.0% 7,328,301 27.53%
TOTAL FINANCIAL ADVISORS MANAGED FUNDS 26,621,256 30.78%
BREAKDOWN BY TYPE OF SECURITY:
Cash& Equivalents 12.1% 3,208,718
US Treasury Obligations 28.6% 7,617,498
US Agencies 41.1% 10,949,366
Mortgage Backed Securities 18.2% 4,845,674
Unsettled Trades 0.0% 0
Total 100.0% 26,621,256
TOTAL CITY FUNDS 86,494,264 100.00%
RECAP OF PORTFOLIO PERCENTAGES Managed City Combined
CASH&EQUIVALENTS 3]1% 029% 4.00%
CHECKING/SAVINGSACCTS 000% 59.85% 59.85%
MORTGAGE BACKED SECURITIES 560% 0.00% 5.60%
CERTIFICATES OF DEPOSIT 000% 674% 674%
U.S.TREASURY OBLIGATIONS 881% 233% 11.14%
FEDERALAGENCIES 1266% 0.00% 12.66%
OTHER 000% 0.01% 0.01%
Total 30.78% 69.22% 100.00%
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CITY OF DUBUQUE
MONTHLY INVESTMENT SUMMARY Month Ending: 06/30/16
First Total
Community Managed Combined
Dana DB&T Trust US Bank Accounts City Finance Total
COST BASIS ANALYSIS
Cost Basis Prior Month 6,162,143 7,980,986 5,137,540 7,325,953 26,608,998 85,179,304 111,788,302
Additions:
Interest Eamings 8,535 80 11,793 4,463 24,872 57,962 82,833
Realized Gains(Losses) (2,923) 0 (596) 0 (3,519) (3,519)
Total Additions 5,612 80 11,197 4,463 21,353 57,962 79,315
Subtractions:
Management Fees (2,591) (1,650) (1,079) (1,526) (6,845) (6,845)
Custodian Fees (543) (617) (500) (590) (2,250) (2,250)
Bank Charges 554 554
Total Subtractions (3,135) (2,267) (1,578) (2,116) (9,095) 554 (8,541)
Cost Basis Current Month 6,164,621 7,978,800 5,147,159 7,328,301 26,621,256 85,237,820 111,859,076
Net Cash Receipts&(Disbursements) (25,323,614) (25,323,614)
Ending Cost Basis Balance 6,164,621 7,978,800 5,147,159 7,328,301 26,621,256 59,914,206 86,535,462
MARKET VALUE ANALYSIS
Investment Market Value Prior Month(Adjusted for Accruals) 6,230,735 7,970,156 5,194,829 7,334,953 26,730,673 86,275,672 113,006,344
Investment Market Value Current Month 6,224,622 7,979,751 5,226,297 7,340,270 26,770,940 61,011,853 87,782,793
Accrued Interest Current Month 14,679 13,735 12,695 15,850 56,958 190,469 247,427
Market Value Adjusted for Accruals 6,239,301 7,993,485 5,238,992 7,356,120 26,827,899 61,202,321 88,030,220
Portfolio Returns(computed by Investment Managers)
Monthly Return Gross of Fees 0.30% 0.32% 0.89% 0.29%
Monthly Return Net of Fees 0.28% 0.29% 0.86% 0.26%
Total Return Calendar Year to Date 2015 Gross 0.75% 0.65% 2.70% 1.20%
Effective Duration in Years 0.52 0.74 2.71 1.75
Market Indices
Average Last Calendar Last Last
Month Year to Date 12 Months 3 Years
Barclays 90 Day T-Bills 0.04% 0.16% 0.21% 0.11%
Barclays Short Term 1-3 Yr Govt.bonds 0.59% 1.42% 1.31% 1.00%
Barclays Intermediate Govt bonds 1.42% 3.55% 3.93% 2.41%
Barclays Government Bonds 2.14% 5.22% 6.04% 3.45%
Current Prime Rate 3.25%
City of Dubuque
Schedule of Certificates of Deposit,Accrued Interest,High Yield Savings Accounts&Unspent Bond Proceeds
As of
June 30,2016
Certificates of Deposit,
Certificate 2 Cost Purchase Maturity Interest Days to Accrued Accruetl
Number Institution Basis Date Date Rate Maturity Da Interest
5343932199 FB&T M 900,000 01/14/16 07/14/16 0.63% 14 168 2,589.04
124785 FB&T M 800,000 02/02/16 08/02/16 0.71% 33 149 2,302.36
124977 FB&T M 1,000,000 03/15/16 09/13/16 0.63% 75 107 1,832.19
5079705173 FB&T M 1,000,000 04/11/16 10/10/16 0.68% 102 80 1,490.41
5528381790/2 AT&S M 600,000 05/09/16 11/07/16 0.65% 130 52 555.62
988965904538 DB&T M 800,000 05/13/16 12/09/16 0.65% 162 48 683.84
5166852078 FB&T M 500,000 06/02/16 01/13/17 0.77% 197 28 295.34
Totals 5,600,000 9,748.80
Reserve Funds
Account Ending Face Value Accrued
rc
Number Institution Balance Interest Rate Interest Account CD Balance Accrued Interest
2015A FB&T R 2,112,891 1.50% 2,601.73 BMASWA 5,600,000 9,74880
2008D FB&T R 119,500 0.61% 543.22 City 0
2010D FB&T R 525,200 0.61% 2,387.43 5,600,000 9,74880
Totals 2,757,591 5,532.38
U.S.Treasu Bontl
Account Ending Face Value Accrued
Number Institution as Balance Interest Rate Interest Weighted Yield: 0.665%
2152-1478 LPL Financial C 3,014,593 3.36% 36,256.07 Weighted Maturil Days: 93.2
Totals 3,014,593 36,256.07
Unspent Bond Proceed Accounts:
Ending APR Accrued
Bond Issue Institution as Balance* Month End Interest*
2010A AT&S C 361,546 0.20% 59.43
2010B AT&S C 199,731 0.20% 35.21
2011A DB&T C 330,984 0.30% 84.08
2012B DB&T C 2,362,757 0.32% 648.13
2012C DB&T C 651,079 0.33% 204.61
2012D DB&T C 944,160 0.34% 273.05
2012E DB&T C 180,564 0.17% 55.59
2012F AT&S C 403,009 0.30% 100.46
2012H DB&T C 1,393,933 0.17% 414.64
2014A AT&S C CLOSED 0.48% 0.06
2014B AT&S C 6,839,177 0.52% 4,557.50
2014C AT&S C 1,147,847 0.48% 498.67 Institution % ota Bond Balance
DMASWA AT&S M 1,196,333 0.45% 589.68 ATBS 45.87 13859,441
2015A AT&S C 3,811,798 0.50% 2,328.65 BB&T 1927 5,863,477
2015A FB&T C 10,610,422 0.68% 8,713.73 FB&T 34.86 10,610,422
2016C FB&T M 4,016,781 0.91% 3,056.63 10000% 30,433,341
Totals 34,450,121 21,620.12
(Q=CITY FUNDS IMI=DUBUQUE METROPOLITAN AREA BouD WASTE AGENCY (R) RESERVE FUNDS
Ending balances and accrued Interests retrieved from bank statement received for month ending April 30 2016