HomeMy WebLinkAbout2022 Q1 Cash and Investment Report
Memorandum
To: Kelley Gandurski, Interim City Manager
From: Hitesh Desai, CFO/ Treasurer
Subject: 1st Quarter 2022 - Cash and Investment Report
Date: April 29, 2022
Attached please find the Cash and Investment report as of March 31, 2022.
A comparison between the 1 st quarter of 2022 and 4th quarter of 2021 investment
reports indicate an increase in combined cash & investments of $21,979,727 from
$107,367,988 to $129,347,715. The increase is mainly attributable to property taxes
received during the 1st quarter of 2022.
W e continue to focus on maintaining the liquidity while striving for the maximum returns
on Cash and Investments . We have been monitoring the interest rate environment and
overall economy.
Overall cash and Investment position:
Cash and investments by individual financial institutions – 3/31/2022:
Bank Balance % Of total
(In millions) Balance
Byline $83.26 64.37%
Wintrust Bank $22.48 17.38%
IMET $11.13 8.61%
Fifth Third $11.01 8.51%
Other Banks $1.47 1.13%
3/31/2022 12/312021 Change
Cash 83,256,788 43,262,433 39,994,355
Investments 46,090,927 64,105,555 (18,014,628)
TOTAL 129,347,715 107,367,988 21,979,727
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 , US Treasuries and US agencies. 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.