HomeMy WebLinkAbout2023 Q2 Cash and Investment Report
Memorandum
To: Luke Stowe, City Manager
From: Hitesh Desai, CFO/ Treasurer
Subject: 2nd Quarter 2023 - Cash and Investment Report
Date: July 28, 2023
Attached please find the Cash and Investment report as of June 30, 2023.
A comparison between the 2nd quarter and 1st quarter 2023 investment reports indicate
increase in combined cash & investments of $3,121,943 from $146,106,864 to
$149,228,807. The main reason for the increase is Property Tax disbursements received
from the Cook County.
During the 2nd quarter 2023, we continued to focus on maintaining liquidity while striving
for the maximum returns on Cash and Investments. We will continue to monitor the
interest rate environment and overall economy.
Overall cash and Investment position:
Cash and investments by individual financial institutions – 6/30/2023:
Bank Balance % Of total
(In millions) Balance
Fifth Third $68.1 45.7%
Byline $49.9 33.4%
Wintrust Bank $22.5 15.1%
IMET $6.4 4.3%
Illinois Funds $2.0 1.4%
Other Banks $0.3 0.1%
06/30/2023 03/31/2023 Change
Cash 49,892,570 64,240,166 (14,347,596)
Investments 99,336,237 81,866,698 17,469,539
TOTAL 149,228,807 146,106,864 3,121,943
Staff continue to focus on the right opportunity for higher investment returns by
moving money amongst the banks or investing in municipal securities, Treasuries
and agencies. At the same time, we strive to be compliant with our investment policy
of not having over 50% in one institution .
If you have any questions on this report or would like to discuss in greater detail, please
contact me by phone at (847) 448.8082 or by e-mail at hdesai@cityofevanston.org.