This report examines the performance of the public funds currently invested by the Will County Treasurer’s Office. This narrative covers investment activity and performance in December 2011.

Corporate Class C Fund

The Corporate Class C Fund is the principal operating account for the county. The Treasurer’s Office uses this fund to pay employees, vendors, and other operating liabilities.

As of December 31, 2011, Corporate Class C Fund had a total balance of $123.3-million. Of this total, we have invested 88.8% ($107.7-million). The total value of the Corporate Class C Fund decreased approximately $2.1-million, month-over-month.

Treasurer’s Class C Fund

The Treasurer’s Class C Fund is the county’s capital improvements fund. The Treasurer’s Office holds proceeds from the county and township motor fuel tax, automation funds, and other revenue.

As of December 31, 2011, Treasurer’s Class C had a total balance of $154.7-million, a decrease of $2-million month-over-month. Of this total, we invested $121.5-million (78.5%) in fixed income classes.

Treasurer’s Class D Fund

The Treasurer’s Class D Fund holds all other county money not belonging in the Treasurer’s Class C Fund. Examples of holdings include our Sale in Error, Center Point Pass Through, and Special Trust Funds.

As of December 31, 2011, Treasurer’s Class D Fund had a total balance of $4.6-million cash. We hold no investments at this time.

Collector’s Class A Fund

The Collector’s Class A Fund holds all taxes and special assessments received by the County pending distribution to the various taxing districts in the county. The money in these funds is fiduciary holdings.

As of December 31, 2011, Collector’s Class A Fund had a total balance of $4.8-million cash. We hold no investments at this time.

Benchmark Tests

The Will County Treasurer’s Investment Policy sets two benchmarks to which we will compare investment performance:

  1. The 3-month average of the 90-day Treasury Bill as quoted by Bloomberg LP
  2. The Money Funds Report of all taxable 7-day simple yield as reported on www.IMoneyNet.com

As of January 2, 2012, both the Corporate Class C Fund and Treasurer’s Class C Fund exceed our policy benchmarks. The funds also exceed informal benchmarks against the 12-Month Treasury and 52-Week CDAR.

January 2, 2012 Collector’s Class A Corporate Class C
7-Day Net Simple 0.0200 % 0.0000 % (Exceed) 0.9683 % (Exceed)
90-Day Treasury Bill 0.0200 % 0.0000 % (Exceed) 0.9683 % (Exceed)
12-Month Treasury 0.1000 % 0.0000 % (Exceed) 0.9683 % (Exceed)
52-Week CDAR 0.2100 % 0.0000 % (Exceed) 0.9683 % (Exceed)
January 2, 2012 Treasurer’s Class C Treasurer’s Class D
7-Day Net Simple 0.0200 % 0.0000 % (Exceed) 0.0250 % (Exceed)
90-Day Treasury Bill 0.0200 % 0.0000 % (Exceed) 0.0250 % (Exceed)
12-Month Treasury 0.1000 % 0.0000 % (Exceed) 0.0250 % (Exceed)
52-Week CDAR 0.2100 % 0.0000 % (Exceed) 0.0250 % (Exceed)

Summary

The Treasurer’s Office holds a total of $287.4-million in deposits as of this report. We continue drawing on investments to cover the county’s operating expenses and will do so until June.

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