HomeMy WebLinkAbout2022 Q3 Cash and Investment Report
Memorandum
To: Luke Stowe, City Manager
From: Hitesh Desai, CFO/ Treasurer
Subject: 3rd Quarter 2022 - Cash and Investment Report
Date: October 21, 2022
Attached please find the Cash and Investment report as of September 30, 2022.
A comparison between the 3rd and 2nd quarter of 2022 investment reports indicate a
decrease in combined cash & investments of $5,097,187 from $145,849,551 to
$140,752,364. This is mainly due to the non-receipt of second installment of property taxes.
During the 3rd quarter 2022, we continued t o focus on maintaining the 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 – 9/30/2022:
Bank Balance % Of total
(In millions) Balance
Byline $69.3 49.3%
Wintrust Bank $21.9 15.5%
IMET $11.0 7.8%
Fifth Third $24.8 17.6%
Illinois Funds $13.0 9.2%
Other Banks $0.8 0.6%
9/30/2022 6/302022 Change
Cash 69,337,874 67,589,042 1,748,832
Investments 71,414,490 78,260,509 (6,846,019)
TOTAL 140,752,364 145,849,551 (5,097,187)
Staff continue to focus on the right opportunity for higher investment returns by
moving mo ney 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.