HomeMy WebLinkAbout2023 Q4 Cash and Investment Report
Memorandum
To: Luke Stowe, City Manager
From: Hitesh Desai, CFO/ Treasurer
Subject: 4th Quarter 2023 - Cash and Investment Report
Date: May 06, 2024
Attached please find the Cash and Investment report as of December 31, 2023.
A comparison between the 4th quarter 2023 and 3rd quarter 2023 cash/ investmen ts
indicate a decrease in combined cash & investments of $8,003,362 from $136,006,453 to
$128,000,098. The City continues to spend down its cash to pay for capital and operating
expenses.
During the 4th quarter, 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 – 12/31/2023:
Bank Balance % Of total
(In millions) Balance
Byline $39.7 31.0%
Fifth Third $54.5 42.6%
Wintrust Bank $23.1 18.0%
IMET $6.6 5.1%
Illinois Funds $3.6 2.9%
Other Banks $0.3 0.2%
12/31/2023 09/30/2023 Change
Cash 39,729,269 46,696,543 (6,967,280)
Investments 88,270,828 89,306,910 (1,036,082)
TOTAL 128,000,098 136,006,453 (8,003,362)
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.