HomeMy WebLinkAbout2022 Q2 Cash and Investment Report
Memorandum
Cash and investments by individual financial institutions – 6/30/2022:
Bank Balance % Of total
(In millions) Balance
Byline $67.59 46.34%
Wintrust Bank $24.27 16.64%
IMET $11.08 7.60%
Fifth Third $22.45 15.39%
Illinois Funds $19.61 13.44%
Other Banks $0.85 0.59%
6/30/2022 3/302022 Change
Cash 67,589,042 83,256,788 (15,667,746)
Investments 78,260,509 46,090,927 32,169,582
TOTAL 145,849,551 129,347,715 16,501,836
To: Luke Stowe, Interim City Manager
From: Hitesh Desai, CFO/ Treasurer
Subject: 2nd Quarter 2022 - Cash and Investment Report
Date: July 29, 2022
Attached please find the Cash and Investment report as of June 30, 2022.
A comparison between the 2nd quarter and 1st quarter of 2022 investment reports
indicate an increase in combined cash & investments of $16,501,836 from $129,347,715
to $145,849,551. The increase is mainly attributable to ARPA funds.
During the 2nd quarter 2022, we continued to 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:
In this low interest rate environment, staff tries to take advantage of the opportunity
for higher investment returns by moving money amongst the banks or investing in
municipal securities. At the same time, we strive to be compliant with our investment
policy of not having over 50% in one institution. Staff will continue to monitor the
allocation of Cash and Investments.
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.