HomeMy WebLinkAbout2020 Q2 Cash and Investment Report
Memorandum
To: Erika Storlie, Interim City Manager
From: Hitesh Desai, CFO/ Treasurer
Subject: 2nd Quarter 2020 - Cash and Investment Report
Date: August 14, 2020
Attached please find the Cash and Investment report as of June 30, 2020.
A comparison between the 2nd quarter 2020 and 1st quarter 2020 investment report s
indicate a decrease in combined cash & investments of $13,108,734 from $72,691,353 to
$59,582,619. The decrease was mainly attributable to payments for various construction
projects in CIP, Robert Crown and Water funds.
Cash and investments with individual financial institution are summarized below:
As of June 30, 2020, ledger balances showing the highest percentage of total deposit
was held by ByLine Bank at $27.2M or 45.6% of the total. Wintrust held $14.9 M or
25.1%, while PMA was at $5.8 M or 9.7%. Illinois Funds held $4.5M or 7.6%; IMET was
at $4.1M or 6.8% and Fifth Third Bank was at $3.1M or 5.2%. Staff will continue to
monitor the allocation of Cash and Investments to ensure compliance with the City’s
investment policy of no greater than 50% of the city’s total cash and investments with
one financial institution.
If you have any questions on this report or would like to discuss in greater detail, please
contact me by phone at (847) 448.8082 or by e-mail at hdesai@cityofevanston.org.
6/30/2020 3/31/2020 Change
Cash 27,161,382 26,386,808 774,574
Investments 32,421,237 46,304,545 (13,883,308)
TOTAL 59,582,619 72,691,353 (13,108,734)