HomeMy WebLinkAbout2013 Q3 Cash and Investment Report
To: Wally Bobkiewicz, City Manager
Martin Lyons, Asst. City Manager/CFO
From: Hitesh Desai, Accounting Manager
Subject: FY2013 – 3rd Quarter end Investment Report
Date: October 22, 2013
Attached please find the investment report as of September 30, 2013.
A comparison between the 2013 second quarter investment report and 2013 third
quarter indicates an increase in combined cash & investments of $19,784,385 from
$70,032,597 to $89,816,982. Cash and investment changes from the previous period
are summarized below:
9/30/2013 6/30/2013 Change
Cash 50,721,319$ 45,965,734$ 4,755,585$
Investments 39,095,663$ 24,066,863$ 15,028,800$
Total 89,816,982$ 70,032,597$ 19,784,385$
The net increase of $19.8M in cash and investments was primarily due to the receipt of
2013A General Obligations (GO) Bonds and Property Tax money. The City raised
$12.7M by issuing Series 2013A GO bonds in August 2013. The Cook County
disbursed $15.7M to the City of Evanston in Property Tax share during the third quarter.
These inflows were partially offset by debt service payments, IEPA loan payments,
vehicles purchase and capital outlay during the third quarter resulting in a net increase
of $19.8M. Cash balances as of September 30, 2012 were $90.2M.
As of September 30, 2013, ledger balances showed the highest percentage of total
deposits was held by First Bank and Trust at approximately $40.6M, or 45% of the
City’s $89.8M in cash and investments followed by IMET with $28.5M or 32% 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
September 30, 2013
Fund #Fund Cash Investments Interfund Total
100 General 9,306,172 3,049,622 (377,856)11,977,938
185 Library 1,484,393 1,484,393
190 HPRP 0
195 Neighborhood Stabilization 459,172 459,172
200 MFT 1,210,405 1,210,405
205 E911 334,934 645,595 980,529
210 SSD4 (89,753) (89,753)
215 CDBG 35,831 35,831
220 CD Loan (18,773) (18,773)
225 Economic Dev. 2,457,785 391,957 2,849,742
235 Neighborhood Improvemt 129,914 129,914
240 Home 5,862 (12,038) (6,176)
250 Affordable Housing 358,603 363,418 722,021
300 Washington National TIF 2,053,843 5,211,202 7,265,045
305 SSD5 823,144 823,144
310 Howard Hartrey 191,506 4,024,442 4,215,948
315 Southwest TIF 340,908 340,908
320 Debt Service 10,377,182 901,179 11,278,361
330 Howard Ridge 289,209 152,436 441,645
335 West Evanston 128,890 551,645 680,535
415 Capital Improvements 1,183,985 9,768,487 5,028 10,957,500
420 Special Assess 1,772,167 238,337 2,010,504
505 Parking 12,670,430 5,063,190 19,471 17,753,091
510 Water 3,512,483 6,994,984 11,813 10,519,280
515 Sewer 4,148,642 528,764 224 4,677,630
520 Solid Waste (1,570,537) (1,570,537)
600 Fleet (684,976) (684,976)
601 Equipment Replacemt 1,177,612 1,177,612
605 Insurance 193,724 2,325 196,049
53,436,391 39,095,663 (2,715,072)89,816,982
Includes negative cash balance reclassed to interfund liability.*
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City of Evanston
Cash & Investments Bank
Investment Investment Fiscal YTD Investment
Description Type Bank Rate Est. Income Amount Fund Fund
IL Fund MM US Bank 0.010 229 3,049,622 100 General
IL Fund MM US Bank 0.010 163 1,210,405 200 MF
IL Fund MM US Bank 0.010 87 645,595 205 E911
IL Fund MM US Bank 0.010 53 391,957 225 Economic Developmen
IL Fund MM US Bank 0.010 49 363,418 250 Affordable Housing
IL Fund MM US Bank 0.010 296 2,194,258 300 Washington National
IL Fund MM US Bank 0.010 122 901,179 320 Debt Service
IL Fund MM US Bank 0.010 21 152,436 330 Howard Ridge TI
IL Fund MM US Bank 0.010 74 551,645 335 West Evanston TIF
IL Fund MM US Bank 0.010 33 246,607 415 Capital Improvements
IL Fund MM US Bank 0.010 9 63,190 505 Parking
IL Fund MM US Bank 0.010 31 226,700 510 Water
IL Fund MM US Bank 0.010 71 528,764 515 Sewe
US BANK Total 1,238 10,525,776
Money Market Fun MM IME 0.340 7,467 3,016,944 300 Washington National
Money Market Fun MM IME 0.340 9,960 4,024,442 310 Howard Hartrey TI
Money Market Fun MM IME 0.340 23,567 9,521,880 415 Capital Improvements
Money Market Fun MM IME 0.340 590 238,337 420 Special Assessments
Money Market Fun MM IME 0.340 12,375 5,000,000 505 Parking
Money Market Fun MM IME 0.340 16,752 6,768,284 510 Water
IMET Total 70,710 28,569,887
Grand Total 71,948 39,095,663
Cash
Total Chase 1st Bank
Cash Cash 9,306,172 3,693,420 5,612,752 100 General
Cash Cash 1,484,393 358,971 1,125,422 185 Librar
Cash Cash 459,172 459,172 195 Neighbrhd Stablztn
Cash Cash 334,934 334,934 205 E911
Cash Cash 35,831 35,831 215 CDBG
Cash Cash 2,457,785 2,457,785 225 Economic Dev.
Cash Cash 129,914 129,914 235 Neighbrhd Improvem
Cash Cash 5,862 5,862 240 Home
Cash Cash 358,603 358,603 250 Affordable Housing
Cash Cash 2,053,843 2,053,843 300 Washington National TIF
Cash Cash 823,144 823,144 305 SSD5
Cash Cash 191,506 191,506 310 Howard Hartre
Cash Cash 340,908 340,908 315 Southwest TI
Cash Cash 10,377,182 10,377,182 320 Deb
Cash Cash 289,209 289,209 330 Howard Ridg
Cash Cash 128,890 128,890 335 West Evanston
Cash Cash 1,183,985 1,183,985 415 Capital Improvements
Cash Cash 1,772,167 1,772,167 420 Special Assess
Cash Cash 12,670,430 4,650,000 8,020,430 505 Parking
Cash Cash 3,512,483 3,512,483 510 Water
Cash Cash 4,148,642 1,388,650 2,759,992 515 Sewe
Cash Cash 1,177,612 1,177,612 601 Equipment Replacem
Cash Cash 193,724 193,724 605 Insuranc
SUBTOTAL 53,436,391 10,091,041 43,345,350
Total Cash 53,436,391 Southwest TI 310,779
n er un s nega ve cas ,, ,
Net Cash 50,721,319 West Evanston 707,568
Total Investments & Cash 89,816,982 1,413,162
CASH / INVESTMEN Investments Cash Total
BALANCES BY
BANK Amount %Amount %Amount %
1ST Bank 40,630,278 80.10%40,630,278 45.24%
Chase 10,091,041 19.90%10,091,041 11.24%
IMET 28,569,887 73.08%28,569,887 31.81%
US Bank 10,525,776 26.92%10,525,776 11.72%
Total 39,095,663 100.00% 50,721,319 100.00% 89,816,982 100.00%
September 30, 2013
City of Evanston
Cash & Investment Summary by Type
September 30, 2013
Investment Investment Fiscal YTD Investment
Description Type Bank Rate Est. Income mount Fund #Fund
IL Funds MMA US Bank 0.010 229 3,049,622 100 General
IL Funds MMA US Bank 0.010 163 1,210,405 200 MFT
IL Funds MMA US Bank 0.010 87 645,595 205 E911
IL Funds MMA US Bank 0.010 53 391,957 225 Economic Development
IL Funds MMA US Bank 0.010 49 363,418 250 Affordable Housing
IL Funds MMA US Bank 0.010 296 2,194,258 300 Washington National
Money Market Fund MMA IMET 0.340 7,467 3,016,944 300 Washington National
Money Market Fund MMA IMET 0.340 9,960 4,024,442 310 Howard Hartrey TIF
IL Funds MMA US Bank 0.010 122 901,179 320 Debt Service
IL Funds MMA US Bank 0.010 21 152,436 330 Howard Ridge TIF
IL Funds MMA US Bank 0.010 74 551,645 335 West Evanston TIF
IL Funds MMA US Bank 0.010 33 246,607 415 Capital Improvements
Money Market Fund MMA IMET 0.340 23,567 9,521,880 415 Capital Improvements
Money Market Fund MMA IMET 0.340 590 238,337 420 Special Assessments
IL Funds MMA US Bank 0.010 9 63,190 505 Parking
Money Market Fund MMA IMET 0.340 12,375 5,000,000 505 Parking
IL Funds MMA US Bank 0.010 31 226,700 510 Water
Money Market Fund MMA IMET 0.340 16,752 6,768,284 510 Water
IL Funds MM US Bank 0.010 71 528,764 515 Sewer
71,948 39,095,663