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Review of the Village of Oak Park’s Investment Portfolio
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Introduction
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This is a discussion regarding the instruments currently being used by Byline and Huntington Bank to invest in the Village of Oak Park’s investment portfolio.
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Recommended Action
Provide information to the Village Manager and Trustees on investment options.
Prior Board Action
There is no prior Board action associated with this item.
Background
The Finance Committee requested information on what type and performance of the vehicles the Village’s investment partners are using for the Village’s current investment portfolio.
Timing Considerations
As the new fiscal year is approaching and investment vehicles are paying higher yields, the Village’s portfolio warrants a review.
Budget Impact
Funding will be taken from current investment vehicles.
Staffing Impact
There is no staffing impact associated with this item. The item aligns with the department’s core service delivery.
DEI Impact
There is no DEI impact associated with this item.
Community Input
There has been no community input given in relation to this item.
Staff Recommendation
Staff will provide knowledge of options available to invest the Village portfolio for potentially higher yields of returns.
Advantages:
• The Finance Committee will have additional information and insight on Village investments, instruments, and the Village portfolio.
Disadvantages:
• There are no disadvantages to this action.
Alternatives
There are no alternatives to this action, this is a report.
Anticipated Future Actions
There are potential future actions if the direction given is to modify the Village’s investment portfolio.
Prepared By: Donna M. Gayden, Interim Chief Financial Officer
Reviewed By: Ahmad Zayyad, Deputy Village Manager
Approved By: Kevin J. Jackson, Village Manager
Attachment(s):
1. Huntington Bank Banking and Investment Update
2. Byline Bank Portfolio Update