HomeMy WebLinkAbout2024 Q4 Cash and Investment Report
Memorandum
To: Luke Stowe, City Manager
From: Hitesh Desai, CFO/ Treasurer
Subject: 4th Quarter 2024 - Cash and Investment Report
Date: March 19, 2025
Attached please find the unaudited Cash and Investment report as of December 31, 2024.
A comparison between the 4th quarter 2024 and 3rd quarter 2024 cash/ investments
indicate a decrease in combined cash & investments of (22,603,847) from 169,566,134 to
146,962,287 primarily due to the bond interest and principal payment made in November.
We will continue to monitor the interest rate environment and overall economy.
Overall cash and Investment position:
Cash and investments by individual financial institutions – 12/31/2024
Bank Balance % Of total
(In millions) Balance
Fifth Third $57.9 39.4%
Byline $38.9 26.4%
Wintrust Bank $34.5 23.5%
PMA $10.0 6.8%
Illinois Funds $5.4 3.7%
Other Banks $0.18 .12%
12/31/2024 09/30/2024 Change
Cash 73,567,815 103,007,204 (29,439,389)
Investments 73,394,472 66,558,930 6,835,542
TOTAL 146,962,287 169,566,134 (22,603,847)
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. The annual audit is being conducted and
these numbers are subject to change.
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.