HomeMy WebLinkAbout2012 Q1 Cash and Investment Report
To: Wally Bobkiewicz, City Manager
Martin Lyons, Asst. City Manager/CFO
From: Hitesh Desai, Accounting Manager
Subject: FY2012 – 1st Quarter end Investment Report
Date: April 23, 2012
Attached please find the investment report as of March 31, 2012.
A comparison between the FY2011 year end investment report and the FY2012 first
quarter end report indicates an increase for combined cash & investments of
$10,779,744 from $70,644,981 to $81,424,725. Cash and investments changes from
the previous period are summarized below:
03/31/12 12/31/11 Change
Cash $27,482,976 $24,500,567 $2,982,229
Investments $53,941,929 $46,144,414 $7,797,515
TOTAL $81,424,725 $70,644,981 $10,779,744
The net increase of $10.8M in cash and investments during the first quarter was
primarily due to Property Tax revenues received from the Cook County. The City
received the first installment of 2011 Property Tax levy in the amount of $18.3M. This
includes $6.2M for General Fund, $2.1M for Library, $5.4M for Debt service Fund and
$4.6M for all TIF and Special Service Districts. This tax revenue receipts coupled with
relatively small amount of debt service payments have helped improve the cash position
as of March 31, 2012.
As of March 31, 2012, ledger balances showed the highest percentage of total deposits
was held by Chase Bank at approximately $30.1M, or 37% of the City’s $81.4M in cash
and investments followed by Illinois Funds with $24.3M or 29% of the total. The
remaining funds were invested with First Bank, IMET and Charter One Bank. This is in
compliance with the City’s investment policy to ensure no financial institution should
have greater than 50% of the city’s total deposits. The Finance Staff will continue to
monitor the balances to have a suitable investment mix in compliance of the City
Investment policy to maximize returns on investments.
Memorandum
1
If you have any questions on this report or would like to discuss in greater detail, please
contact me @ (847) 866-2905 or at hdesai@cityofevanston.org.
2
City of Evanston
Cash & Investment Summary by Fund
March 31, 2012
Fund #Fund Cash Investments Interfund Total
100 General 7,052,699 6,424,755 125,713 13,603,167
185 Library 2,560,052 (802,033) 1,758,019
190 HPRP 0 0
195 Neighborhood Stabilization 83,673 (91,362) (7,689)
200 MFT 805,697 699,183 (210,209) 1,294,671
205 E911 731,682 644,911 (183,844) 1,192,749
210 SSD4 17,830 17,830
215 CDBG 75,516 (288,185) (212,669)
220 CD Loan 68,990 (980) 68,010
225 Economic Dev.1,849,379 391,542 (397,920) 1,843,001
235 Neighbrhd Improvemt 109,915 109,915
240 Home 4,921 (12,198) (7,277)
250 Affordable Housing 202,523 363,033 4,002 569,558
300 Washington National TIF 491,056 9,792,999 (1,050,431) 9,233,624
305 SSD5 244,499 757 245,256
310 Howard Hartrey 601,453 5,046,715 (35,400) 5,612,768
315 Southwest TIF 133,215 (7,230) 125,985
320 Debt Service 378,574 5,262,414 300,393 5,941,381
330 Howard Ridge 1,264,384 152,287 (30,316) 1,386,355
335 West Evanston 1,115,318 551,104 (15,000) 1,651,422
415 Capital Improvements 6,199,876 (2,687,025) 3,512,851
420 Special Assess 283,616 2,753,264 (92,515) 2,944,365
505 Parking 7,536,586 6,755,567 333,732 14,625,885
510 Water 3,117,145 5,889,913 (407,737) 8,599,321
515 Sewer 7,472,728 1,687,887 (2,680,204) 6,480,411
520 Solid Waste 49,517 (1,562,322) (1,512,805)
600 Fleet 275,375 594,129 (90,068) 779,436
601 Equipment Replacemt 951,693 951,693
605 Insurance 682,076 (64,584) 617,492
36,476,826 53,941,929 (8,994,030) 81,424,725
Includes negative cash balance reclassed to interfund liability.*
*
*
*
*
*
*
*
3
City of Evanston
Cash & Investment Summary by Type
March 31, 2012
Investment Investment Fiscal YTD Investment
Description Type Bank Rate Est. Income Amount Fund #Fund
Money Market Fund MMA 1st Bank 0.200 751 1,502,044 300 Washington National
Money Market Fund MMA 1st Bank 0.200 79 158,452 320 Debt Service
Money Market Fund MMA 1st Bank 0.150 20 53,098 415 Capital Improvements
Money Market Fund MMA 1st Bank 0.200 3,303 6,605,339 505 Parking
Money Market Fund MMA 1st Bank 0.050 1 7,108 510 Water
SUBTOTAL 4,154 8,326,041
Money Market Fund MMA Chase 0.210 944 1,798,244 300 Washington National
Money Market Fund MMA Chase 0.210 2,871 5,468,125 415 Capital Improvements
Money Market Fund MMA Chase 0.210 1,445 2,753,264 420 Special Assessment
Money Market Fund MMA Chase 0.210 46 87,101 505 Parking
Money Market Fund MMA Chase 0.210 692 1,318,184 510 Water
Money Market Fund MMA Chase 0.210 18 34,124 515 Sewer
Money Market Fund MMA Chase 0.210 26 49,517 520 Solid Waste
SUBTOTAL 6,042 11,508,559
Money Market Fund MMA IMET 0.280 2,101 3,001,387 300 Washington National
Money Market Fund MMA IMET 0.280 2,803 4,003,690 310 Howard Hartrey TIF
Money Market Fund MMA IMET 0.280 303 432,293 415 Capital Improvements
Money Market Fund MMA IMET 0.280 1,401 2,000,908 510 Water
Money Market Fund MMA IMET 0.280 219 313,538 515 Sewer
SUBTOTAL 6,826 9,751,816
IL Funds MMA US Bank 0.101 1,622 6,424,755 100 General
IL Funds MMA US Bank 0.101 177 699,183 200 MFT
IL Funds MMA US Bank 0.101 163 644,911 205 E911
IL Funds MMA US Bank 0.101 99 391,542 225 Economic Development
IL Funds MMA US Bank 0.101 92 363,033 250 Affordable Housing
IL Funds MMA US Bank 0.101 882 3,491,324 300 Washington National
IL Funds MMA US Bank 0.101 0 757 305 SSA#5
IL Funds MMA US Bank 0.101 263 1,043,025 310 Howard Hartrey TIF
IL Funds MMA US Bank 0.101 1,289 5,103,962 320 Debt Service
IL Funds MMA US Bank 0.101 38 152,287 330 Howard Ridge TIF
IL Funds MMA US Bank 0.101 139 551,104 335 West Evanston TIF
IL Funds MMA US Bank 0.101 62 246,360 415 Capital Improvements
IL Funds MMA US Bank 0.101 16 63,127 505 Parking
IL Funds MMA US Bank 0.101 647 2,563,714 510 Water
IL Funds MMA US Bank 0.101 338 1,340,224 515 Sewer
IL Funds MMA US Bank 0.101 150 594,129 600 Fleet
IL Funds MMA US Bank 0.101 172 682,076 605 Insurance
SUBTOTAL 6,150 24,355,513
Total Investments 23,172 53,941,929
Page 2 of 44
City of Evanston
Cash & Investment Summary by Type
March 31, 2012
Investment Investment Fiscal YTD Investment
Description Type Bank Rate Est. Income Amount Fund #Fund
Cash Cash 1st Bank 2,663,798 200 MFT
Cash Cash 1st Bank 5,424,402 300 Washington National TIF
SUBTOTAL 8,088,200
Cash Cash Charter One 805,697 100 General
195 Neighbrhd Stablztn
Cash Cash Chase 7,052,699 205 E911
Cash Cash Chase 2,560,052 215 CDBG
Cash Cash Chase 83,673 220 CD Loan
Cash Cash Chase 731,682 225 Economic Dev.
Cash Cash Chase 17,830 235 Neighbrhd Improvemt
Cash Cash Chase 75,516 240 Home
Cash Cash Chase 68,990 250 Affordable Housing
Cash Cash Chase 1,849,379 305 SSD5
Cash Cash Chase 109,915 310 Howard Hartrey
Cash Cash Chase 4,921 320 Debt
Cash Cash Chase 202,523 330 Howard Ridge
Cash Cash Chase 491,056 335 West Evanston
Cash Cash Chase 244,499 420 Special Assess
Cash Cash Chase 601,453 505 Parking
Cash Cash Chase 133,215 510 Water
Cash Cash Chase 378,574 515 Sewer
Cash Cash Chase 1,264,384 600 Fleet
Cash Cash Chase 1,115,319 605 Insurance
Cash Cash Chase 283,616
Cash Cash Chase 2,112,183
Cash Cash Chase 453,347
Cash Cash Chase 7,472,728
Cash Cash Chase 275,375
SUBTOTAL 27,582,929
Total Cash 36,476,826
Interfunds & negative cash (8,994,030)
Net Cash 27,482,796
Total Investments & Cash 81,424,725
CASH / INVESTMENT Investments Cash Total
LEDGER BALANCES BY BANK Amount %Amount %Amount %
1ST Bank 8,326,041 15.44%8,088,200 29.43%16,414,241 20.16%
Charter One 805,697 2.93%805,697 0.99%
Chase 11,508,559 21.34%18,588,899.00 67.64%30,097,458 36.96%
IMET 9,751,816 18.08%9,751,816 11.98%
US Bank 24,355,513 45.15%24,355,513 29.91%
Total 53,941,929 100.00% 27,482,796 100.00% 81,424,725 100.00%
Page 3 of 45
City of Evanston
Cash & Investment Summary by Type
March 31, 2012
Investment Investment Fiscal YTD Investment
Description Type Bank Rate Est. Income Amount Fund #Fund
IL Funds MMA US Bank 0.101 92 363,033 250 Affordable Housing
Money Market Fund MMA 1st Bank 0.150 20 53,098 415 Capital Improvements
Money Market Fund MMA Chase 0.210 2,871 5,468,125 415 Capital Improvements
Money Market Fund MMA IMET 0.280 303 432,293 415 Capital Improvements
IL Funds MMA US Bank 0.101 62 246,360 415 Capital Improvements
SUBTOTAL 6,199,876
Money Market Fund MMA 1st Bank 0.200 79 158,452 320 Debt Service
IL Funds MMA US Bank 0.101 1,289 5,103,962 320 Debt Service
SUBTOTAL 5,262,414
IL Funds MMA US Bank 0.101 163 644,911 205 E911
IL Funds MMA US Bank 0.101 99 391,542 225 Economic Development
IL Funds MMA US Bank 0.101 150 594,129 600 Fleet
IL Funds MMA US Bank 0.101 1,622 6,424,755 100 General
Money Market Fund MMA IMET 0.280 2,803 4,003,690 310 Howard Hartrey TIF
IL Funds MMA US Bank 0.101 263 1,043,025 310 Howard Hartrey TIF
SUBTOTAL 5,046,715
IL Funds MMA US Bank 0.101 38 152,287 330 Howard Ridge TIF
IL Funds MMA US Bank 0.101 172 682,076 605 Insurance
IL Funds MMA US Bank 0.101 177 699,183 200 MFT
Money Market Fund MMA 1st Bank 0.200 3,303 6,605,339 505 Parking
Money Market Fund MMA Chase 0.210 46 87,101 505 Parking
IL Funds MMA US Bank 0.101 16 63,127 505 Parking
SUBTOTAL 6,755,567
Money Market Fund MMA Chase 0.210 18 34,124 515 Sewer
Money Market Fund MMA IMET 0.280 219 313,538 515 Sewer
IL Funds MMA US Bank 0.101 338 1,340,224 515 Sewer
SUBTOTAL 1,687,886
Money Market Fund MMA Chase 0.210 26 49,517 520 Solid Waste
Money Market Fund MMA Chase 0.210 1,445 2,753,264 420 Special Assessment
IL Funds MMA US Bank 0.101 0 757 305 SSA#5
Money Market Fund MMA 1st Bank 0.200 751 1,502,044 300 Washington National
Money Market Fund MMA Chase 0.210 944 1,798,244 300 Washington National
Money Market Fund MMA IMET 0.280 2,101 3,001,387 300 Washington National
IL Funds MMA US Bank 0.101 882 3,491,324 300 Washington National
SUBTOTAL 9,792,999
Money Market Fund MMA 1st Bank 0.050 1 7,108 510 Water
Money Market Fund MMA Chase 0.210 692 1,318,184 510 Water
Money Market Fund MMA IMET 0.280 1,401 2,000,908 510 Water
IL Funds MMA US Bank 0.101 647 2,563,714 510 Water
SUBTOTAL 5,889,914
IL Funds MMA US Bank 0.101 139 551,104 335 West Evanston TIF
TOTAL 53,941,9296