HomeMy WebLinkAbout2023 Q3 Cash and Investment Report
Memorandum
To: Luke Stowe, City Manager
From: Hitesh Desai, CFO/ Treasurer
Subject: 3rd Quarter 2023 - Cash and Investment Report
Date: October 27, 2023
Attached please find the Cash and Investment report as of September 30, 2023.
A comparison between the 3rd quarter and 2nd quarter 2023 investment reports
indicate decrease in combined cash & investments of $13,222,354 from $149,228,807 to
$136,006,453. This is mainly due to the non-receipt of second installment of property taxes.
During the 3rd 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 – 9/30/2023:
Bank Balance % Of total
(In millions) Balance
Fifth Third $57.1 42.0%
Byline $46.7 34.3%
Wintrust Bank $22.8 16.8%
IMET $6.4 4.7%
Illinois Funds $2.7 2.0%
Other Banks $0.3 0.2%
09/30/2023 06/30/2023 Change
Cash 46,696,543 49,892,570 (3,196,027)
Investments 89,306,910 99,336,237 (10,026,327)
TOTAL 136,006,453 149,228,807 (13,222,354)
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.