HomeMy WebLinkAbout2013 Q4 Cash and Investment Report
To: Wally Bobkiewicz, City Manager
Martin Lyons, Asst. City Manager/CFO
From: Hitesh Desai, Accounting Manager
Subject: FY2013 – 4th Quarter end Investment Report
Date: January 28, 2014
Attached please find the investment report as of December 31, 2013.
A comparison between the 2013 third quarter investment report and 2013 fourth quarter
indicates a decrease in combined cash & investments of $29,370,369 from $89,816,982
to $60,446,613. This decrease is typical for our final month and the decrease was $25.0
million in December 2012. Cash and investment changes from the previous period are
summarized below:
12/31/2013 9/30/2013 Change
Cash 30,794,031$ 50,721,319$ (19,927,288)$
Investments 29,652,582$ 39,095,663$ (9,443,081)$
Total 60,446,613$ 89,816,982$ (29,370,369)$
The net decrease of $29.4M in cash and investments was primarily due to the debt
service payments, IEPA loan payments, vehicles purchase and capital outlay during the
fourth quarter. The City paid $17.7M in debt service payments, $3.0M in IEPA loan
payments, $8.7M in capital outlay including vehicles during the fourth quarter of 2013.
Cash balances as of December 31, 2012 were $65.2M.
As of December 31, 2013, ledger balances showed the highest percentage of total
deposits was held by First Bank and Trust at approximately $25.8M, or 43% of the
City’s $60.3M in cash and investments followed by IMET with $21.1M or 35% 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
December 31, 2013
Fund #Fund Cash Investments Interfund Total
100 General 7,575,674 1,267,925 (1,821,819)7,021,780
185 Library 654,109 (273,481)380,628
195 Neighborhood Stabilization 12,146 (17,650) (5,504)
200 MFT 1,474,964 1,474,964
205 E911 351,376 645,632 6,137 1,003,145
210 SSD4 (180,202) (180,202)
215 CDBG 18,591 (10,376)8,215
220 CD Loan 124,812 124,812
225 Economic Dev. 2,646,824 391,980 (26,523)3,012,281
235 Neighbrhd Improvemt 149,915 149,915
240 Home 10,048 10,048
250 Affordable Housing 361,420 363,439 20,000 744,859
300 Washington National TIF 5,213,723 (487,857)4,725,866
305 SSD5 413,578 413,578
310 Howard Hartrey 4,027,617 (686,202)3,341,415
315 Southwest TIF 333,074 333,074
320 Debt Service 616,044 978,995 (76,360)1,518,679
330 Howard Ridge 225,903 152,447 378,350
335 West Evanston 551,682 (13,459)538,223
415 Capital Improvements 5,153,998 2,271,951 82,394 7,508,343
420 Special Assess 1,825,979 238,591 9,474 2,074,044
505 Parking 10,080,303 5,067,456 (140,101)15,007,658
510 Water 1,284,206 7,001,197 84,651 8,370,054
515 Sewer 2,711,375 4,983 (647,696)2,068,662
520 Solid Waste (1,413,673) (1,413,673)
600 Fleet (116,550) (116,550)
601 Equipment Replacemt 1,297,458 3,298 1,300,756
605 Insurance 653,193 653,193
35,846,833 29,652,582 (5,052,802)60,446,613
Includes negative cash balance reclassed to interfund liability.*
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A B C D E F G H
City of Evanston
Cash & Investments Ban
Investment Investment Fiscal YTD Investment
Description Type Bank Rate Est. Income Amount Fund #Fund
IL Funds MM US Bank 0.017 216 1,267,925 100 General
IL Funds MM US Bank 0.017 251 1,474,964 200 MFT
IL Funds MM US Bank 0.017 110 645,632 205 E911
IL Funds MM US Bank 0.017 67 391,980 225 Economic Development
IL Funds MM US Bank 0.017 62 363,439 250 Affordable Housing
IL Funds MM US Bank 0.017 373 2,194,400 300 Washington National
IL Funds MM US Bank 0.017 153 901,238 320 Debt Service
IL Funds MM US Bank 0.017 26 152,446 330 Howard Ridge TIF
IL Funds MM US Bank 0.017 94 551,681 335 West Evanston TIF
IL Funds MM US Bank 0.017 42 246,623 415 Capital Improvements
IL Funds MM US Bank 0.017 11 63,195 505 Parking
IL Funds MM US Bank 0.017 39 226,715 510 Water
IL Funds MM US Bank 0.017 1 4,983 515 Sewe
US BANK Tota 1,442 8,485,221
Money Market Fund MM IMET 0.350 10,568 3,019,324 300 Washington National
Money Market Fund MM IMET 0.350 14,097 4,027,617 310 Howard Hartrey TI
Money Market Fund MM IMET 0.350 272 77,757 320 Debt Service
Money Market Fund MM IMET 0.350 7,089 2,025,329 415 Capital Improvements
Money Market Fund MM IMET 0.350 835 238,591 420 Special Assessments
Money Market Fund MM IMET 0.350 17,515 5,004,261 505 Parking
Money Market Fund MM IMET 0.350 23,711 6,774,482 510 Water
IMET Total 74,086 21,167,361
Grand Total 75,528 29,652,582
Cash
Total Chase 1st Bank
Cash Cash 7,575,674 4,113,474 3,462,200 100 General
Cash Cash 654,109 358,922 295,187 185 Librar
Cash Cash 12,146 12,146 195 Neighbrhd Stablztn
Cash Cash 351,376 351,376 205 E911
Cash Cash 18,591 18,591 215 CDBG
Cash Cash 124,812 124,812 220 CD Loan
Cash Cash 2,646,824 2,646,824 225 Economic Dev.
Cash Cash 149,915 149,915 235 Neighbrhd Improvemt
Cash Cash 10,048 10,048 240 Home
Cash Cash 361,420 361,420 250 Affordable Housing
Cash Cash 413,578 413,578 305 SSD5
Cash Cash 333,074 333,074 315 Southwest TIF
Cash Cash 616,044 616,044 320 Deb
Cash Cash 225,903 225,903 330 Howard Ridg
Cash Cash 5,153,998 5,153,998 415 Capital Improvements
Cash Cash 1,825,979 1,825,979 420 Special Assess
Cash Cash 10,080,303 10,080,303 505 Parking
Cash Cash 1,284,206 1,284,206 510 Water
Cash Cash 2,711,375 508,424 2,202,951 515 Sewe
Cash Cash 1,297,458 1,297,458 601 Equipment Replacemt
SUBTOTAL 35,846,833 4,980,820 30,866,013
Total Cash 35,846,833
Interfunds & negative cash (5,052,802)
Net Cash 30,794,031
Total Investments & Cash 60,446,613
CASH / INVESTMEN Investments Cash Total
BALANCES BY
BANK Amount %Amount %Amount %
1ST Bank 25,813,211 83.83%25,813,211 42.70%
Chase 4,980,820 16.17%4,980,820 8.24%
IMET 21,167,361 71.38%21,167,361 35.02%
US Bank 8,485,221 28.62%8,485,221 14.04%
Total 29,652,582 100.00% 30,794,031 100.00% 60,446,613 100.00%
December 31, 2013
City of Evanston
Cash & Investment Summary by Type
December 31, 2013
Investment Investment Fiscal YTD Investment
Description Type Bank Rate Est. Income mount Fund #Fund
IL Funds MMA US Bank 0.017 216 1,267,925 100 General
IL Funds MMA US Bank 0.017 251 1,474,964 200 MFT
IL Funds MMA US Bank 0.017 110 645,632 205 E911
IL Funds MMA US Bank 0.017 67 391,980 225 Economic Development
IL Funds MMA US Bank 0.017 62 363,439 250 Affordable Housing
IL Funds MMA US Bank 0.017 373 2,194,400 300 Washington National
IL Funds MMA US Bank 0.017 153 901,238 320 Debt Service
IL Funds MMA US Bank 0.017 26 152,446 330 Howard Ridge TIF
IL Funds MMA US Bank 0.017 94 551,681 335 West Evanston TIF
IL Funds MMA US Bank 0.017 42 246,623 415 Capital Improvements
IL Funds MMA US Bank 0.017 11 63,195 505 Parking
IL Funds MMA US Bank 0.017 39 226,715 510 Water
IL Funds MMA US Bank 0.017 1 4,983 515 Sewer
Money Market Fund MMA IMET 0.350 10,568 3,019,324 300 Washington National
Money Market Fund MMA IMET 0.350 14,097 4,027,617 310 Howard Hartrey TIF
Money Market Fund MMA IMET 0.350 272 77,757 320 Debt Service
Money Market Fund MMA IMET 0.350 7,089 2,025,329 415 Capital Improvements
Money Market Fund MMA IMET 0.350 835 238,591 420 Special Assessments
Money Market Fund MMA IMET 0.350 17,515 5,004,261 505 Parking
Money Market Fund MM IMET 0.350 23,711 6,774,482 510 Water
75,528 29,652,582