HomeMy WebLinkAbout2013 Q2 Cash and Investment Report
To: Wally Bobkiewicz, City Manager
Martin Lyons, Asst. City Manager/CFO
From: Hitesh Desai, Accounting Manager
Subject: FY2013 – 2nd Quarter end Investment Report
Date: July 22, 2013
Attached please find the investment report as of June 30, 2013.
A comparison between the 2013 first quarter investment report and 2013 second
quarter indicates a decrease in combined cash & investments of $7,361,527 from
$77,394,124 to $70,032,597. Cash and investment changes from the previous period
are summarized below:
6/30/2013 3/31/2013 Change
Cash 45,965,734$ 52,477,902$ (6,512,168)$
Investments 24,066,863$ 24,916,222$ (849,359)$
Total 70,032,597$ 77,394,124$ (7,361,527)$
The net decrease of $7.3M in cash and investments was primarily due to the Debt
Service and IEPA loan payments during the quarter. The City disbursed $3.1M in debt
service and $4.2M in IEPA loan payments during the second quarter. Cash balances as
of June 30, 2012 were $70.9M.
As of June 30, 2013, ledger balances showed the highest percentage of total deposits
was held by First Bank and Trust at approximately $33.9M, or 48% of the City’s $70.0M
in cash and investments followed by IMET with $16.1M or 23% of the total. The
remaining funds were invested with Chase 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
Cash & Investment Summary by Fund
June 30, 2013
Fund #Fund Cash Investments Interfund Total
100 General 12,459,925 552,890 24,274 13,037,089
185 Library 1,138,121 (508,909)629,212
195 Neighborhood Stabilization 930,055 (31,384)898,671
200 MFT 1,718,965 (69,417)1,649,548
205 E911 398,145 645,567 (75,921)967,791
210 SSD4 (118,408) (118,408)
215 CDBG (202,614) (202,614)
220 CD Loan (28,231) (28,231)
225 Economic Dev. 1,406,188 391,940 (92,181)1,705,947
235 Neighbrhd Improvemt 129,915 129,915
240 Home 10,426 (1,298)9,128
250 Affordable Housing 114,528 363,402 (1,999)475,931
300 Washington National TIF 2,308,752 5,208,009 (330,196)7,186,565
305 SSD5 632,677 632,677
310 Howard Hartrey 4,020,279 (284,412)3,735,867
315 Southwest TIF 125,887 (2,458)123,429
320 Debt Service 5,001,965 901,151 105,989 6,009,105
330 Howard Ridge 503,962 152,432 (14,075)642,319
335 West Evanston 204,384 551,628 (5,000)751,012
415 Capital Improvements 4,514,624 (1,225,620)3,289,004
420 Special Assess 1,852,377 (26,082)1,826,295
505 Parking 16,096,693 63,188 136,075 16,295,956
510 Water 4,556,159 4,977,767 (355,544)9,178,382
515 Sewer 4,364,716 5,021 (2,224,180)2,145,557
520 Solid Waste (1,609,700) (1,609,700)
600 Fleet (667,691) (667,691)
601 Equipment Replacemt 952,838 120,952 1,073,790
605 Insurance 266,051 266,051
53,187,713 24,066,863 (7,221,979)70,032,597
Includes negative cash balance reclassed to interfund liability.*
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City of Evanston
Cash & Investments Ban
June 30, 201
Investment Investment Fiscal YTD Investment
Description Type Bank Rate Est. Income mount Fund #Fund
IL Funds MMA US Bank 0.018 50 552,890 100 General
IL Funds MMA US Bank 0.018 155 1,718,965 200 MFT
IL Funds MMA US Bank 0.018 58 645,567 205 E911
IL Funds MMA US Bank 0.018 35 391,940 225 Economic Development
IL Funds MMA US Bank 0.018 33 363,402 250 ffordable Housing
IL Funds MMA US Bank 0.018 81 901,150 320 Debt Service
IL Funds MMA US Bank 0.018 14 152,432 330 Howard Ridge TIF
IL Funds MMA US Bank 0.018 50 551,628 335 West Evanston TIF
IL Funds MMA US Bank 0.018 22 246,599 415 Capital Improvements
IL Funds MMA US Bank 0.018 6 63,188 505 Parking
IL Funds MMA US Bank 0.018 20 226,693 510 Water
IL Funds MMA US Bank 0.018 0 5,021 515 Sewe
IL Funds MMA US Bank 0.018 197 2,194,187 300 Washington National
US BANK Total 721 8,013,662
Money Market Fund MMA IMET 0.330 4,973 3,013,823 300 Washington National
Money Market Fund MMA IMET 0.330 6,633 4,020,279 310 Howard Hartrey TI
Money Market Fund MMA IMET 0.330 7,042 4,268,025 415 Capital Improvements
Money Market Fund MMA IMET 0.330 7,839 4,751,074 510 Water
IMET Total 26,488 16,053,201
Grand Total 27,209 24,066,863
Cash
Total Chase 1st Bank
Cash Cash 12,459,925 5,500,506 6,959,419 100 General
Cash Cash 1,138,121 368,099 770,022 185 Librar
Cash Cash 930,055 96,283 833,772 195 Neighbrhd Stablztn
Cash Cash 398,145 398,145 205 E911
Cash Cash 1,406,188 1,125,483 280,705 225 ffordable Housing
Cash Cash 129,915 109,915 20,000 235 Washington National TIF
Cash Cash 10,426 9,756 670 240 SSD5
Cash Cash 114,528 114,528 250 Southwest TIF
Cash Cash 2,308,752 2,308,752 300 Debt
Cash Cash 632,677 405,538 227,139 305 Howard Ridge
Cash Cash 125,887 125,887 315 Special Assess
Cash Cash 5,001,965 7,742 4,994,223 320 Parking
Cash Cash 503,962 503,962 330 Water
Cash Cash 204,384 204,384 335 Sewe
Cash Cash 1,852,377 61,835 1,790,542 420 Equipment Replacemt
Cash Cash 16,096,693 133,960 15,962,733 505
Cash Cash 4,556,159 380,830 4,175,329 510
Cash Cash 4,364,716 4,364,716 515
Cash Cash 952,838 276,961 675,877 601
SUBTOTAL 53,187,713 13,984,146 39,203,567
o a as ,,
Interfunds & negative cash (7,221,979)
Net Cash 45,965,734
Total Investments & Cash 70,032,597
CASH / INVESTMENT Investments Cash Total
GENERAL LEDGER BALANCES mount %mount %mount %
1ST Bank 33,913,588 73.78%33,913,588 48.43%
Chase 12,052,146 26.22%12,052,146 17.21%
IMET 16,053,201 66.70%16,053,201 22.92%
US Bank 8,013,662 33.30%8,013,662 11.44%
Total 24,066,863 100.00% 45,965,734 100.00% 70,032,597 100.00%
City of Evanston
Cash & Investment Summary by Type
June 30, 2013
Investment Investment Fiscal YTD Investment
Description Type Bank Rate Est. Income mount Fund #Fund
IL Funds MMA US Bank 0.018 50 552,890 100 General
IL Funds MMA US Bank 0.018 155 1,718,965 200 MFT
IL Funds MMA US Bank 0.018 58 645,567 205 E911
IL Funds MMA US Bank 0.018 35 391,940 225 Economic Development
IL Funds MMA US Bank 0.018 33 363,402 250 Affordable Housing
IL Funds MMA US Bank 0.018 81 901,150 320 Debt Service
IL Funds MMA US Bank 0.018 14 152,432 330 Howard Ridge TIF
IL Funds MMA US Bank 0.018 50 551,628 335 West Evanston TIF
IL Funds MMA US Bank 0.018 22 246,599 415 Capital Improvements
IL Funds MMA US Bank 0.018 6 63,188 505 Parking
IL Funds MMA US Bank 0.018 20 226,693 510 Water
IL Funds MMA US Bank 0.018 0 5,021 515 Sewer
IL Funds MMA US Bank 0.018 197 2,194,187 300 Washington National
Money Market Fund MMA IMET 0.330 4,973 3,013,823 300 Washington National
Money Market Fund MMA IMET 0.330 6,633 4,020,279 310 Howard Hartrey TIF
Money Market Fund MMA IMET 0.330 7,042 4,268,025 415 Capital Improvements
Money Market Fund MM IMET 0.330 7,839 4,751,074 510 Water
27,209 24,066,863