HomeMy WebLinkAbout2024 Q1 Cash and Investment Report
Memorandum
To: Luke Stowe, City Manager
From: Hitesh Desai, CFO/ Treasurer
Subject: 1st Quarter 2024 - Cash and Investment Report
Date: May 03, 2024
Attached please find the Cash and Investment report as of March 31, 2024.
A comparison between the 1st quarter 2024 and 4th quarter 2023 cash/ investmen ts
indicate increase in combined cash & investments of $4,830,362 from $128,000,098 to
$132,830,459. The main reason for the increase is Property Tax disbursements received
from the Cook County.
During the 1st 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 – 3/31/2024:
Bank Balance % Of total
(In millions) Balance
Byline $48.5 36.5%
Fifth Third $51.4 38.7%
Wintrust Bank $21.4 16.1%
IMET $6.6 4.9%
Illinois Funds $4.6 3.4%
Other Banks $0.3 0.2%
03/31/2024 12/31/2023 Change
Cash 48,456,171 39,729,269 8,726,902
Investments 84,374,288 88,270,828 (3,896,540)
TOTAL 132,830,459 128,000,098 4,830,362
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.