HomeMy WebLinkAbout2012 Q4 Cash and Investment Report
To: Wally Bobkiewicz, City Manager
Martin Lyons, Asst. City Manager/CFO
From: Hitesh Desai, Accounting Manager
Subject: FY2012 – 4th Quarter end Investment Report
Date: January 22, 2013
Attached please find the investment report as of December 31, 2012.
A comparison between the third and fourth quarter investment report indicates a sharp
decrease in combined cash & investments of $24,981,895 from $90,239,920 to
$65,258,025. Cash and investment changes from the previous period are summarized
below:
12/31/2012 9/30/2012 Change
Cash 22,649,042$ 31,502,889$ (8,853,847)$
Investments 42,608,983$ 58,737,031$ (16,128,048)$
Total 65,258,025$ 90,239,920$ (24,981,895)$
The net decrease of $24.9M in cash and investments during the fourth quarter was
primarily due to the payment of $17.6M in debt service obligations due December 1,
2012. During the fourth quarter, City of Evanston disbursed approximately $10.8M
towards IEPA Sewer loan repayments, Vehicle purchases, and Capital outlay. These
payments were partially offset by Property Tax and Vehicle license receipts during the
fourth quarter.
As of December 31, 2012, ledger balances showed the highest percentage of total
deposits was held by Chase Bank at approximately $27.1M, or 41% of the City’s
$65.2M in cash and investments followed by IMET with $16.5M or 25% of the total. The
remaining funds were invested with First Bank and Illinois Funds. 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
City of Evanston
Investments by Fund
December 31, 2012
Investment Investment Fiscal YTD Investment
Description Type Bank Rate Est. Income mount Fund #Fund
IL Funds MMA US Bank 0.125 454 363,318 250 Affordable Housing
Money Market Fund MMA 1st Bank 0.150 80 53,158 415 Capital Improvements
Money Market Fund MMA Chase 0.210 1,391 662,434 415 Capital Improvements
Money Market Fund MMA IMET 0.340 16,185 4,760,170 415 Capital Improvements
IL Funds MMA US Bank 0.125 308 246,548 415 Capital Improvements
SUBTOTAL 5,722,310
Money Market Fund MMA 1st Bank 0.200 317 158,699 320 Debt Service
IL Funds MMA US Bank 0.125 1,126 900,992 320 Debt Service
SUBTOTAL 1,059,691
IL Funds MMA US Bank 0.125 807 645,417 205 E911
IL Funds MMA US Bank 0.125 490 391,849 225 Economic Development
IL Funds MMA US Bank 0.125 889 710,816 100 General
Money Market Fund MMA IMET 0.340 13,646 4,013,542 310 Howard Hartrey TIF
IL Funds MMA US Bank 0.125 191 152,400 330 Howard Ridge TIF
Money Market Fund MMA 1st Bank 0.200 98 48,821 330 Howard Ridge TIF
SUBTOTAL 201,221
IL Funds MMA US Bank 0.125 1,665 1,331,699 200 MFT
Money Market Fund MMA 1st Bank 0.200 13,231 6,615,335 505 Parking
Money Market Fund MMA Chase 0.210 10,687 5,089,210 505 Parking
IL Funds MMA US Bank 0.125 79 63,175 505 Parking
SUBTOTAL 11,767,720
Money Market Fund MMA Chase 0.210 72 34,179 515 Sewer
IL Funds MMA US Bank 0.125 6 5,020 515 Sewer
SUBTOTAL 39,199
Money Market Fund MMA Chase 0.210 104 49,596 520 Solid Waste
Money Market Fund MMA Chase 0.210 3,900 1,857,356 420 Special Assessment
Money Market Fund MMA 1st Bank 0.200 3,009 1,504,313 300 Washington National
Money Market Fund MMA Chase 0.210 1,681 800,335 300 Washington National
Money Market Fund MMA IMET 0.340 10,230 3,008,772 300 Washington National
IL Funds MMA US Bank 0.125 2,742 2,193,711 300 Washington National
SUBTOTAL 7,507,131
Money Market Fund MMA 1st Bank 0.050 4 7,111 510 Water
Money Market Fund MMA Chase 0.210 1,721 819,639 510 Water
Money Market Fund MMA IMET 0.340 16,127 4,743,105 510 Water
IL Funds MMA US Bank 0.125 283 226,646 510 Water
SUBTOTAL 5,796,501
IL Funds MMA US Bank 0.125 689 551,515 335 West Evanston TIF
Money Market Fund MMA 1st Bank 0.200 1,200 600,102 335 West Evanston TIF
SUBTOTAL 1,151,617
TOTAL 42,608,983