HomeMy WebLinkAbout2014 Q4 Cash and Investment Report
To: Wally Bobkiewicz, City Manager
Martin Lyons, Asst. City Manager/CFO
From: Andrew Villamin, Interim Accounting Manager
Subject: FY2014 – 4th Quarter End Investment Report
Date: March 10, 2015
Attached please find the investment report as of December 31, 2014.
A comparison between the 2014 third quarter investment report and the fourth quarter
indicates a decrease in combined cash & investments of $27,489,641 from $92,167,310 to
$64,677,669. Cash and investment changes from the previous period are summarized
below:
12/31/2014 9/30/2014 Change
Cash 23,288,581$ 41,908,027$ (18,619,446)$
Investments 41,389,088$ 50,259,283$ (8,870,195)$
Total 64,677,669$ 92,167,310$ (27,489,641)$
The net decrease of $27.5M in cash and investments was primarily due to the debt service
payments, IEPA loan payments, capital outlays and operating expenses during the fourth
quarter. The City paid $17.1M in debt service payments, $2.4M in IEPA loan payments,
capital outlay in Water and CIP of approximately $4M, and $4M in operating expenses in
the General Fund during the fourth quarter of 2014. Cash balances as of December 31,
2013 were $60.4M.
As of December 31, 2014, ledger balances showed the highest percentage of total
deposits was held by US Bank (Illinois Funds) with $29.6M or 45.8% of the City’s $64.7M
in cash and investments followed by First Bank and Trust with $22.3M or 34.4% of the
total, PMA at approximately $8M or 12.4% of the total, and IMET at approximately $3.8M
or 5.8% of the total. The remaining $1M or 1.6% of the funds were invested with Chase
Bank. Per City’s investment policy, no financial institution should have greater than 50% of
the city’s total deposits. The 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 me @ (847) 866-2903 or at avillamin@cityofevanston.org.
Memorandum
City of Evanston
Cash & Investment Summary by Fund
December 31, 2014
Fund #Fund Cash Investments Interfund Total
100 General 4,795,105 245,756 1,052,864 6,093,725
175 General Assistance 72,835 99,440 (12,424)159,851
185 Library 1,091,071 (424,319)666,752
186 Library Debt Service (2,409)(2,409)
195 Neighborhood Stabilization 220,899 (10,833)210,065
200 MFT 2,306,667 (69,417)2,237,250
205 E911 645,732 (95,382)550,349
210 SSD4 (189,039)(189,039)
215 CDBG 98,106 (245,289)(147,183)
220 CD Loan 126,267 19,878 146,145
225 Economic Dev.2,730,860 392,040 (102,122)3,020,779
235 Neighborhood Improvement 149,915 149,915
240 Home 6,679 (6,822)(143)
250 Affordable Housing 489,672 363,495 8,834 862,001
300 Washington National TIF 924,784 5,117,080 (271,358)5,770,506
305 SSD5 400,694 400,694
310 Howard Hartrey 4,041,431 (1,635,518)2,405,913
315 Southwest TIF 911,477 - (2,458)909,019
320 Debt Service 1,816,151 90,539 149,924 2,056,615
330 Howard Ridge 152,654 (94,825)57,829
335 West Evanston 23,030 552,435 (5,000)570,465
415 Capital Improvements 582,947 10,022,360 36,859 10,642,166
420 Special Assessment 2,304,176 239,410 (5,025)2,538,561
505 Parking 2,983,589 10,090,753 (571,425)12,502,917
510 Water 2,201,198 7,024,313 (520,056)8,705,454
515 Sewer 4,163,280 4,985 (860,098)3,308,167
520 Solid Waste (1,354,076)(1,354,076)
600 Fleet (408,781)(408,781)
601 Equipment Replacement 1,281,419 120,952 1,402,371
605 Insurance 154,567 1,257,227 1,411,793
27,528,720 41,389,088 (4,240,138)64,677,670
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 Funds MMA US Bank 0.016 39 245,756 100 General
IL Funds MMA US Bank 0.016 16 99,440 175 General Assistance
IL Funds MMA US Bank 0.016 369 2,306,667 200 MFT
IL Funds MMA US Bank 0.016 103 645,732 205 E911
IL Funds MMA US Bank 0.016 63 392,040 225 Economic Development
IL Funds MMA US Bank 0.016 58 363,495 250 Affordable Housing
IL Funds MMA US Bank 0.016 743 4,646,645 300 Washington National
IL Funds MMA US Bank 0.016 588 3,677,386 310 HH TIF
IL Funds MMA US Bank 0.016 1,348 320 Debt Service
IL Funds MMA US Bank 0.016 22 139,125 330 Howard Ridge TIF
IL Funds MMA US Bank 0.016 80 502,828 335 West Evanston TIF
IL Funds MMA US Bank 0.016 1,463 9,141,786 415 Capital Improvements
IL Funds MMA US Bank 0.016 35 217,844 420 Special Assessment
IL Funds MMA US Bank 0.016 154 961,416 505 Parking
IL Funds MMA US Bank 0.016 678 4,240,378 510 Water
IL Funds MMA US Bank 0.016 323 2,018,414 511 Water BD & INT
IL Funds MMA US Bank 0.016 1 4,985 515 Sewer
US BANK Total 4,737 29,605,286
Money Market Fund MMA IMET 0.270 1,270 470,435 300 Washington National
Money Market Fund MMA IMET 0.270 983 364,045 310 Howard Hartrey TIF
Money Market Fund MMA IMET 0.270 241 89,191 320 Debt Service
Money Market Fund MMA IMET 0.270 36 13,529 330 Howard Ridge TIF
Money Market Fund MMA IMET 0.270 134 49,607 335 West Evanston TIF
Money Market Fund MMA IMET 0.270 2,378 880,574 415 Capital Improvements
Money Market Fund MMA IMET 0.270 58 21,566 420 Special Assessments
Money Market Fund MMA IMET 0.270 3,049 1,129,270 505 Parking
Money Market Fund MMA IMET 0.270 1,453 538,146 510 Water
Money Market Fund MMA IMET 0.270 614 227,374 511 Water BD & INT
IMET Total 10,215 3,783,736
Money Market Fund MMA PMA 0.150 66 8,000,066 505 Parking
PMA Total 66 8,000,066
Grand Total 15,018 41,389,088
Cash
Total Chase 1st Bank
Cash Cash 4,795,105 925,259 3,869,846 100 General
Cash Cash 72,835 72,835 175 General Assistance
Cash Cash 1,091,071 1,091,071 185 Library
Cash Cash 0 0 186 Library Debt Service
Cash Cash 220,899 220,899 195 Neighbrhd Stablztn
Cash Cash 0 0 205 E911
Cash Cash 0 210 SSD 4
Cash Cash 98,106 98,106 215 CDBG
Cash Cash 126,267 126,267 220 CD Loan
Cash Cash 2,730,860 2,730,860 225 Economic Dev.
Cash Cash 149,915 149,915 235 Neighbrhd Improvemt
Cash Cash 6,679 6,679 240 Home
Cash Cash 489,672 489,672 250 Affordable Housing
Cash Cash 924,784 924,784 300 Washington National TIF
Cash Cash 400,694 400,694 305 SSD5
Cash Cash 0 0 310 Howard Hartrey
Cash Cash 911,477 911,477 315 Southwest TIF
Cash Cash 1,816,151 1,816,151 320 Debt
Cash Cash 0 0 330 Howard Ridge
Cash Cash 23,030 23,030 335 West Evanston
Cash Cash 582,947 582,947 415 Capital Improvements
Cash Cash 2,304,176 2,304,176 420 Special Assess
Cash Cash 2,983,589 2,983,589 505 Parking
Cash Cash 2,201,198 2,201,198 510 Water
Cash Cash 4,163,280 78,305 4,084,975 515 Sewer
Cash Cash 0 0 520 Solid Waste
Cash Cash 1,281,419 1,281,419 601 Equipment Replacemt
Cash Cash 154,567 154,567 605 Insurance
27,528,720 1,003,564 26,525,155
Total Cash 27,528,720
Interfunds & negative cash (4,240,138)
Net Cash 23,288,582
Total Investments & Cash 64,677,670
CASH / INVESTMENT Investments Cash Total GENERAL LEDGER
BALANCES BY
BANK Amount %Amount %Amount %
1ST Bank 22,285,017 95.69%22,285,017 34.46%
Chase 1,003,564 4.31%1,003,564 1.55%
PMA 8,000,066 19.33%8,000,066 12.37%
IMET 3,783,736 9.14%3,783,736 5.85%
US Bank 29,605,286 71.53%29,605,286 45.77%
Total 41,389,088 100.00%23,288,582 100.00%64,677,670 100.00%
December 31, 2014