Quarterly Investment Report 9 30 16 Copyright 2014
City of Dubuque Consent Items # 5.
ITEM TITLE: Quarterly Investment Report
SUMMARY: City Manager transmitting Quarterly Investment Report for
September 30, 2016
SUGGESTED DISPOSITION: Suggested Disposition: Receive and File
ATTACHMENTS:
Description Type
September 30, 2016 Quarterly I nvestment Report-MVM City Manager Memo
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 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: September 30, 2016 Quarterly Investment Report
DATE: November 15, 2016
Finance Director Jean Nachtman is transmitting the September 30, 2016 Quarterly
Investment Report.
Mic ael C. Van Milligen
MCVM:jh
Attachment
cc: Crenna Brumwell, 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: September 30, 2016 Quarterly Investment Report
DATE: October 27, 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 July 1, 2016 through September 30, 2016.
The report includes: Cash Investments and Investment Earnings Summary
for quarter ended September 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 September 30, 2016 And Fiscal Year To Date
Market Value / Unrealized
Carrying Including Gain (Loss) /
Description Value Accrued Interest Accrued Interest
Change & Petty Cash Funds 16,030 16,030
Checking/Savings Accounts 12,726,206 12,726,206
Unspent Bond Proceeds 31 ,630,078 31 ,630,078 -
Certificates Of Deposit 5,600,000 5,610,733 10,733
US Treasury Securities 2,015,125 2,994,948 979,823
Corporate Stock (EB Lyons Trust) 11 ,514 104,504 92,990
Investment Advisor Accounts 25,609,861 25,794,431 184,570
Total Funds 77,608,814 78,876,929 1,268,115
Breakdown
City 70,138,744 71 ,396,127 1 ,257,383
Metro 7,470,069 7,480,802 10,733
Total Combined Funds 77,608,814 78,876,929 1,268,115
Cash Basis Quarter Year-To-Date
Gross Earnings:
City 267,392 267,392
Metro 10,487 10,487
Combined 277,878 277,878
Investment Fees:
City 34,062 34,062
Metro 108 108
Combined 34,170 34,170
Net Earnings:
City 233,329 233,329
Metro 10,379 10,379
Combined 243,708 243,708
City of Dubuque
Schedule of City Funds
As of
September 30,2016
TOTAL
COST CITY FUNDS
CITY MANAGED FUNDS BASIS PERCENTAGE
CASH:
Change and Petty Cash Funds 16,030
Health Fund Deposit 150,000
Prescription Fund Deposit 75,000
Workers Comp Deposit 10,000
Ambulance Deposit 1,000
Total 252,030 0.31%
CHECKING/SAVINGS ACCOUNTS:
American Trust&Savings Bank(General) 354,716
American Trust&Savings Bank(Housing Rehab&Section 8) 521,102
Dubuque Bank&Trust(General/Metro/Credit) 9,745,170
Dubuque Bank&Trust(Cable Franchise Equipment Fund) 613,078
US Bank (General) 2,893
Premier(Utility) 1,803
Fidelity Bank&Trust(Utility) 852,854
Dubuque Bank&Trust Police Forfeiture Funds 37,604
BBVA Compass 0
Dubuque Bank&Trust(Zaber Escrow) 596,985
Total 12,726,206 15.79%
UNSPENT BOND PROCEED INVESTMENT ACCOUNTS:
AT&S Series 2010A 361,668
AT&S Series 2010B 198,831
DB&T Series 2011A 331,234
DB&T Series 2012B 2,311,696
DB&T Series 2012C 624,883
DB&T Series 2012D 944,160
DB&T Series 2012E 180,726
AT&S Series 2012F 403,215
DB&T Series 2012H 1,395,150
AT&S Series 2014B 5,639,541
AT&S Series 2014C 1,146,901
AT&S DMASWA 1,038,466
AT&S Series 2015A 3,323,098
Fidelity Series 2015A 10,628,453
Fidelity Series 2016C 3,102,056
Total 31,630,078 39.24%
CERTIFICATES OF DEPOSIT:
AT&S 3,900,000
DB&T 800,000
FB&T 900,000
Total 5,600,000 6.95%
U.S.TREASURY OBLIGATIONS:
Debt Service Reserve Fund Required for Port Ramp 2,015,125
Total 2,015,125 2.50%
RESERVES:
Sales Tax Increment Rev Bond Reserve(Series 2015A) 2,117,379
Water Debt Bond Reserve(Series 2008D&2010D) 644,700
Total 2,762,079 3.43%
CORPORATE STOCK(Lyons Peony Trust): 11,514
Total 11,514 0.01%
TOTAL CITY MANAGED FUNDS 54,997,032 68.23%
Panel
City of Dubuque
Schedule of City Funds
As of
September 30,2016
PORTFOLIO TOTAL
COMPOSITION COST CITY FUNDS
FINANCIAL ADVISORS MANAGED FUNDS PERCENTAGE BASIS PERCENTAGE
DANA INVESTMENT ADVISORS,INC:
Cash and Equivalents 3.7% 217,663
US Treasury Obligations 0.0% 0
US Agencies 18.2% 1,061,982
Mortgaged Backed Securities 78.1% 4,567,577
Total 100.0% 5,847,221 22.83%
DUBUQUE BANK&TRUST:
Cash and Equivalents 0.5% 37,542
US Treasury Obligations 99.5% 7,616,726
US Agencies 0.0% 0
Mortgaged Backed Securities 0.0% 0
Unsettled Trades 0.0% 0
Total 100.0% 7,654,268 29.89%
FIRST COMMUNITY TRUST:
Cash and Equivalents 0.7% 33,386
US Treasury Obligations 0.0% 0
US Agencies 94.6% 4,831,453
Mortgaged Backed Securities 4.7% 239,741
Total 100.0% 5,104,581 19.93%
US BANK:
Cash and Equivalents 31.0% 2,170,638
US Treasury Obligations 0.0% 0
US Agencies 65.1% 4,557,395
Mortgaged Backed Securities 3.9% 275,757
Total 100.0% 7,003,791 27.35%
TOTAL FINANCIAL ADVISORS MANAGED FUNDS 25,609,861 31.77%
BREAKDOWN BY TYPE OF SECURITY:
Cash& Equivalents 9.6% 2,459,229
US Treasury Obligations 29.7% 7,616,726
US Agencies 40.8% 10,450,830
Mortgage Backed Securities 19.8% 5,083,075
Unsettled Trades 0.0% 0
Total 100.0% 25,609,861
TOTAL CITY FUNDS 80,606,893 100.00%
RECAP OF PORTFOLIO PERCENTAGES Managed City Combined
CASH&EQUIVALENTS 305% 0318 3368
CHECKING/SAVINGS ACCTS DOOR 5845% 5845%
MORTGAGE BACKED SECURITIES 6318 0.00% 6318
CERTIFICATES OF DEPOSIT 0008 6058 6058
U.S.TREASURY OBLIGATIONS 945% 250% 11058
FEDERAL AGENCIES 1297% 0.00% 1297%
OTHER DOOR 0.01% 0.01%
Total 31.77% 68.23% 100.00%
Page
CITY OF DUBUQUE
MONTHLY INVESTMENT SUMMARY Month Ending: 09/30/16
First Total
Community Managed Combined
Dana DB&T Trust US Bank Accounts City Finance Total
COST BASIS ANALYSIS
Cost Basis Prior Month 5,844,063 7,651,445 5,100,755 6,995,907 25,592,169 49,645,782 75,237,952
Additions:
Interest Earnings 10,416 5,081 5,911 9,991 31,399 14,493 45,892
Realized Gains(Losses) (4,198) 0 (511) 0 (4,709) (4,709)
Total Additions 6,218 5,081 5,400 9,991 26,690 14,493 41,183
Subtractions:
Management Fees (2,530) (1,655) (1,075) (1,530) (6,790) (6,790)
Custodian Fees (530) (603) (499) (576) (2,209) (2,209)
Withdrawal 0 0 0 0 0 819 819
Total Subtractions (3,060) (2,258) (1,574) (2,107) (8,998) 819 (8,180)
Cost Basis Current Month 5,847,221 7,654,268 5,104,581 7,003,791 25,609,861 49,661,094 75,270,955
Net Cash Receipts&(Disbursements) 5,335,938 5,335,938
Ending Cost Basis Balance 5,847,221 7,654,268 5,104,581 7,003,791 25,609,861 54,997,032 80,606,893
MARKET VALUE ANALYSIS
Investment Market Value Prior Month(Adjusted for Accruals) 5,909,299 7,663,271 5,177,022 7,020,493 25,770,085 50,740,156 81,508,335
Investment Market Value Current Month 5,898,807 7,648,242 5,164,820 7,012,692 25,724,561 56,019,461 81,744,022
Accrued Interest Current Month 15,235 20,863 18,271 15,501 69,870 29,133 99,003
Market Value Adjusted for Accruals 5,914,041 7,669,106 5,183,091 7,028,192 25,794,431 56,048,594 81,843,025
Portfolio Returns(computed by Investment Managers)
Monthly Return Gross of Fees 0.02% 0.11% 0.16% 0.07%
Monthly Return Net of Fees 0.00% 0.08% 0.13% 0.04%
Total Return Calendar Year to Date 2015 Gross 0.82% 0.84% 2.69% 1.32%
Effective Duration in Years 0.53 0.86 2.50 2.11
Market Indices
Average Last Calendar Last Last
Month Year to Date 12 Months 3 Years
Barclays 90 Day T-Bills 0.05% 0.26% 0.29% 0.13%
Barclays Short Term 1-3 Yr Govt.bonds 0.12% 1.32% 0.89% 0.87%
Barclays Intermediate Govt bonds 0.17% 3.30% 2.44% 2.19%
Barclays Government Bonds -0.12% 4.96% 4.00% 3.32%
Current Prime Rate 3.25%
* Balances off by net market value of investment accounts applied in SEP2016.
CITY OF DUBUQUE
MONTHLY INVESTMENT SUMMARY Month Ending: 09/30/16
First Total
Community Managed Combined
Dana DB&T Trust US Bank Accounts City Finance Total
City of Dubuque
Schedule of Certificates of Deposit,Accrued Interest,High Yield Savings Accounts&Unspent Bond Proceeds
As of
September 30, 2016
Certificates of Deposit,
Certificate Cos[ Purchase Maturity Interest Daysto Accrued Accruedsis
Number Institution " BaDate Date Rate Maturi D Interest
5079705173 FB&T M 1,000,000 04/11/16 10/10/16 0.680% 10 172 3,204.38
5 528 381 790/2 AT&S M 600,000 05/09/16 11/07/16 0.650% 38 144 1,538.63
988965904538 DB&T M 800,000 05/13/16 12/09/16 0.650% 70 140 1,994.52
5166852078 FB&T M 500,000 06/02/16 01/13/17 0.770% 105 120 1,265.75
125570 FB&T M 800,000 08/02/16 02/02/17 0.705% 125 59 911.67
53439321992 AT&S M 900,000 07/14/16 07/14/17 0.760% 287 78 1,461.70
125730 FB&T M 1,000,000 09/13/16 09/13/17 0.765% 348 17 356.30
Totals 5,600,000 10,732.95
Reserve Funds
Account Ending Face Value Accrued
Number Institution Balance Interest Rate Interest Account CDBaiance Accmed interest
2015A FB&T R 2,119,555 1.50% 2,175.39 DMASWA 5,600,000 10,73295
2008D FB&T R 119,500 0.61% 726.95 City 0 -
2010D FB&T R 525,200 0.61% 3,194.94 5,600,000 10,73295
Totals 2,764,255 6,097.28
U.S.TreasuryBond
Account Ending Face Value Accrued
Number Institution Balance Interest Interest Weighted Yield: 0.712%
2152-1478 LPL Financial C 2,994,948 3.36% 4,450.03 Weighted Maturity in Days: 151.4
Totals 2,994,948 4,450.03
Unspent Bond Proceed Accounts:
Ending APR @ Accrued
Bondissue Institution . Balance* Month End Interest*
2010A AT&S C 361,728 0.20% 59.45
2010B AT&S C 198,864 0.20% 32.69
2011A DB&T C 331,234 0.30% 84.15
2012B DB&T C 2,311,696 0.32% 625.45
2012C DB&T C 625,122 0.33% 238.18
2012D DB&T C 944,160 0.34% -
2012E DB&T C 180,726 0.17% 54.59
2012F AT&S C 403,314 0.30% 99.42
2012H DB&T C 1,395,150 0.17% 413.47
2014B AT&S C 5,643,156 0.52% 3,615.49
2014C AT&S C 1,147,392 0.48% 490.19 Institution koofTotal Bond Balance
DTVII AT&S M 1,039,054 0.60% 587.96 AT&S 3829 12,118,00433
2015A AT&S C 3,324,497 0.50% 1,399.36 BB&T 1829 5788,087.80
2015A FB&T C 10,637,189 0.68% 8,735.71 FB&T 4342 13741,60273
2016C FB&T M 3,104,414 0.95% 2,358.41 10000/ 31,647,695
Totals 31,647,695 18,794.52
(Q=CITY FUNDS IMI—DUBUQUE METROPOLITAN AREA SOLID WASTE AGENCY IRI=RESERVE FUNDS
*
Ending balances and accrued Interests retrieved from bank statement received for month ending September 30,2016
Interest not being paid Reason unknown.Bank Is researching.