HomeMy WebLinkAbout2014 Q2 Cash and Investment ReportTo: Wally Bobkiewicz, City Manager
Martin Lyons, Asst. City Manager/CFO
From: Hitesh Desai, Accounting Manager
Subject: FY2014 – 2nd Quarter End Investment Report
Date: July 25, 2014
Attached please find the investment report as of June 30, 2014.
A comparison between the 2014 first quarter investment report and the second quarter
indicates a decrease in combined cash & investments of $6,992,980 from $74,388,623
to $67,395,643. Cash and investment changes from the previous period are
summarized below:
The net decrease of $6.9M in cash and investments was primarily due to the IEPA Loan
repayments during the second quarter in the amount of $3.5M. The City received $5.2M
in Property Tax disbursements from Cook County towards 2013 Tax levy including TIF
incremental taxes. These receipts were offset by Debt Service Payments, Insurance
payments, TIF surplus distribution, and Capital outlay resulting in net decrease of
$6.9M.
As of June 30, 2014, ledger balances showed the highest percentage of total deposits
was held by First Bank and Trust at approximately $36.6M, or 54% of the City’s $67.4M
in cash and investments followed by IMET with $21.2M or 31.4% and US Bank (Illinois
Funds) with $8.2M or 12.1% of the total. The remaining $1.3M or 2% of the funds were
invested with Chase Bank. Finance Staff will continue to closely 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 Hitesh Desai, Controller at (847) 866-2905 or at hdesai@cityofevanston.org.
ATTACHMENT II
City of Evanston
Cash & Investment Summary by Fund
June 30, 2014
Fund #Fund Cash Investments Interfund Total
100 General 9,119,072 (1,951,818)7,167,254
175 General Assistance 245,189 40,130 (76,319)209,000
185 Library 843,539 (353,152)490,387
186 Library Debt Service 342,646 342,646
195 Neighborhood Stabilization 752,131 (15,806)736,325
200 MFT 2,426,074 (238,940)2,187,134
205 E911 297,652 645,682 (20,457)922,877
210 SSD4 (156,813)(156,813)
215 CDBG (368,352)(368,352)
220 CD Loan 91,455 91,455
225 Economic Dev.2,825,408 392,010 (75,268)3,142,150
235 Neighborhood Improvement 149,915 149,915
240 Home 158 (3,675)(3,517)
250 Affordable Housing 436,671 363,467 (1,166)798,972
300 Washington National TIF 411,640 5,219,221 (271,358)5,359,503
305 SSD5 630,481 630,481
310 Howard Hartrey 4,034,747 (1,157,627)2,877,120
315 Southwest TIF 582,148 (2,458)579,690
320 Debt Service 5,373,499 979,195 149,797 6,502,491
330 Howard Ridge 131,126 152,457 (5,813)277,770
335 West Evanston 551,720 (47,541)504,179
415 Capital Improvements 4,147,377 2,275,554 40,263 6,463,194
420 Special Assess 1,855,360 239,014 (14,154)2,080,220
505 Parking 9,976,413 5,076,319 (64,750)14,987,982
510 Water 1,716,210 7,013,205 (212,086)8,517,329
515 Sewer 3,919,766 4,983 (894,416)3,030,333
520 Solid Waste (1,572,330)(1,572,330)
600 Fleet (491,656)(491,656)
601 Equipment Replacemt 939,108 129,008 1,068,116
605 Insurance 871,788 871,788
44,786,964 29,413,778 (6,805,099)67,395,643
Includes negative cash balance reclassed to interfund liability.
*