HomeMy WebLinkAbout2019 Q3 Cash and Investment Report
Memorandum
To: Erika Storlie, Interim City Manager
From: Hitesh Desai, CFO/ Treasurer
Subject: 3rd Quarter 2019 - Cash and Investment Report
Date: October 25, 2019
Attached please find the Cash and Investment report as of September 30, 2019.
A comparison between the 3rd and 2nd quarter 2019 investment reports indicate an
increase in combined cash & investments of $2,625,283 from $95,558,863 to $98,184,146.
The increase was mainly attributable to the second installment of property tax disbursements
to the City of Evanston.
Cash and investments with individual financial institution are summarized below:
As of September 30, 2019, ledger balances showing the highest percentage of total
deposit was held by Byline Bank at $39.8M or 40 .5% of the total. Wintrust held $32.5M or
33.1%, while PMA Financial was in custody of money market funds at approximately
$8.8M, or 9.0%. IMET was at $6.0M or 6.1%; Illinois Funds was at $9.6M or 9.8% and
Fifth Third Bank was at $1.5M or 1.5%. 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.
9/30/2019 6/30/2019 Change
Cash 39,756,929 41,521,260 (1,764,331)
Investments 58,427,217 54,037,603 4,389,614
TOTAL 98,184,146 95,558,863 2,625,283