HomeMy WebLinkAbout2023 Q1 Cash and Investment Report
Memorandum
Cash and investments by individual financial institutions – 3/31/2023:
Bank Balance % Of total
(In millions) Balance
Byline $64.2 44.0%
Fifth Third $51.9 35.5%
Wintrust Bank $22.3 15.3%
IMET $6.4 4.4%
Illinois Funds $1.0 0.7%
Other Banks $0.3 0.1%
03/31/2023 12/31/2022 Change
Cash 64,240,166 60,039,090 4,201,076
Investments 81,866,698 72,943,511 8,923,187
TOTAL 146,106,864 132,982,601 13,124,263
To: Luke Stowe, City Manager
From: Hitesh Desai, CFO/ Treasurer
Subject: 1st Quarter 2023 - Cash and Investment Report
Date: April 28, 2023
Attached please find the Cash and Investment report as of March 31, 2023.
A comparison between the 1st quarter 2023 and 4th quarter 2022 investment reports
indicate increase in combined cash & investments of $13,124,263 from $132,982,601 to
$146,106,864. The main reason for the increase is Property Tax disbursements received
from the Cook County.
During the 1st quarter 2023, 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:
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.