HomeMy WebLinkAbout2024 Q2 Cash and Investment Report
Memorandum
To: Luke Stowe, City Manager
From: Hitesh Desai, CFO/ Treasurer
Subject: 2ND Quarter 2024 - Cash and Investment Report
Date: August 2, 2024
Attached please find the Cash and Investment report as of June 30, 2024.
A comparison between the 2nd quarter 2024 and 1st quarter 2024 cash/ investmen ts
indicate a decrease in combined cash & investments of $3,766,374 from $132,830,459 to
$129,064,084.
During the 2nd quarter 2024, 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 – 06/30/2024:
Bank Balance % Of total
(In millions) Balance
Byline $58.5 45.3%
Fifth Third $45.0 35.0%
Wintrust Bank $19.7 15.2%
Illinois Funds $5.4 4.2%
Other Banks $0.3 .26%
06/30/2024 03/31/2024 Change
Cash 58,552,023 48,456,171 10,095,852
Investments 70,512,062 84,374,288 (13,862,226)
TOTAL 129,064,084 132,830,459 (3,766,374)
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.