HomeMy WebLinkAbout2024 Q3 Cash and Investment Report
Memorandum
To: Luke Stowe, City Manager
From: Hitesh Desai, CFO/ Treasurer
Subject: 3rd Quarter 2024 - Cash and Investment Report
Date: October 25, 2024
Attached please find the Cash and Investment report as of September 30, 2024.
A comparison between the 3rd quarter 2024 and 2nd quarter 2024 cash/ investments
indicate an increase in combined cash & investments of $40,502,049 from $129,064,084
to $169,566,134 primarily due to bond proceeds received in July, timely second installment
property tax collection, and Northwestern permit revenues.
We will continue to monitor the interest rate environment and overall economy.
Overall cash and Investment position:
Cash and investments by individual financial institutions – 09/30/2024:
Bank Balance % Of total
(In millions) Balance
Byline $56.9 33.6%
Fifth Third $53.7 31.7%
Wintrust Bank $46.0 27.1%
PMA $8.4 5.0%
Illinois Funds $4.4 2.6%
Other Banks $0.06 .04%
09/30/2024 06/30/2024 Change
Cash 103,007,204 58,552,023 44,455,181
Investments 66,558,930 70,512,062 (3,953,132)
TOTAL 169,566,134 129,064,084 40,502,049
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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.
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