HomeMy WebLinkAbout2012 Q3 Cash and Investment Report
To: Wally Bobkiewicz, City Manager
Martin Lyons, Asst. City Manager/CFO
From: Hitesh Desai, Accounting Manager
Subject: FY2012 – 3rd Quarter end Investment Report
Date: October 22, 2012
Attached please find the investment report as of September 30, 2012.
A comparison between the second and third quarter investment report indicates a sharp
increase in combined cash & investments of $19,333,511 from $70,906,409 to
$90,239,920. Cash and investment changes from the previous period are summarized
below:
9/30/2012 6/30/2012 Change
Cash 31,502,889$ 21,989,730$ 9,513,159$
Investments 58,737,031$ 48,916,679$ 9,820,352$
Total 90,239,920$ 70,906,409$ 19,333,511$
The net increase of $19.3M in cash and investments during the third quarter was
primarily due to the receipt of 2012A General Obligations (GO) Bonds and Property Tax
money. The City raised $16.3M by issuing Series 2012A GO bonds in July 2012. The
Cook County disbursed $16M to the City of Evanston in Property Tax share during the
third quarter. These inflows were partially offset by debt service payments, refunding of
Series 2002C Bonds, IEPA loan payments, vehicles purchase and capital outlay in the
amount of $13M.
As of September 30, 2012, ledger balances showed the highest percentage of total
deposits was held by Chase Bank at approximately $34.5M, or 38% of the City’s
$90.2M in cash and investments followed by Illinois Funds with $21.7M or 24% of the
total. The remaining funds were invested with First Bank and Illinois Metropolitan
Investment Fund (IMET). 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.
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.
Memorandum
Attachment 3
City of Evanston
Investments by Fund
September 30, 2012
Investment Investment Fiscal YTD Investment
Description Type Bank Rate Est. Income Amount Fund #Fund
IL Funds MMA* US Bank 0.096 262 363,225 250 Affordable Housing
Money Market Fund MMA 1st Bank 0.150 60 53,138 415 Capital Improvements
Money Market Fund MMA Chase 0.210 5,766 3,661,047 415 Capital Improvements
Money Market Fund MMA IMET 0.270 9,631 4,755,950 415 Capital Improvements
IL Funds MMA US Bank 0.096 177 246,476 415 Capital Improvements
SUBTOTAL 8,716,611
Money Market Fund MMA 1st Bank 0.200 238 158,617 320 Debt Service
IL Funds MMA US Bank 0.096 2,628 3,650,154 320 Debt Service
SUBTOTAL 3,808,771
IL Funds MMA US Bank 0.096 465 645,252 205 E911
IL Funds MMA US Bank 0.096 282 391,749 225 Economic Development
IL Funds MMA US Bank 0.096 5,811 8,070,692 100 General
Money Market Fund MMA IMET 0.270 8,120 4,009,983 310 Howard Hartrey TIF
IL Funds MMA US Bank 0.096 110 152,359 330 Howard Ridge TIF
IL Funds MMA US Bank 0.096 806 1,118,934 200 MFT
Money Market Fund MMA 1st Bank 0.200 9,918 6,611,929 505 Parking
Money Market Fund MMA Chase 0.210 3,288 2,087,559 505 Parking
IL Funds MMA US Bank 0.096 45 63,157 505 Parking
SUBTOTAL 8,762,645
Money Market Fund MMA IMET 0.270 636 313,948 515 Sewer
Money Market Fund MMA Chase 0.210 54 34,161 515 Sewer
IL Funds MMA US Bank 0.096 1,710 2,374,366 515 Sewer
SUBTOTAL 2,722,475
Money Market Fund MMA Chase 0.210 78 49,569 520 Solid Waste
Money Market Fund MMA Chase 0.210 4,341 2,756,178 420 Special Assessment
Money Market Fund MMA Chase 0.210 1,260 799,912 300 Washington National
Money Market Fund MMA 1st Bank 0.200 2,255 1,503,535 300 Washington National
Money Market Fund MMA IMET 0.270 6,087 3,006,105 300 Washington National
IL Funds MMA US Bank 0.096 2,515 3,492,836 300 Washington National
SUBTOTAL 8,802,388
Money Market Fund MMA 1st Bank 0.050 3 7,110 510 Water
Money Market Fund MMA Chase 0.210 1,290 819,205 510 Water
Money Market Fund MMA IMET 0.270 13,009 6,423,996 510 Water
IL Funds MMA US Bank 0.096 406 564,525 510 Water
SUBTOTAL 7,814,836
IL Funds MMA US Bank 0.096 397 551,364 335 West Evanston TIF
TOTAL 58,737,031
* Money Market Account (MMA)
Attachment 3