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 April 2012.

Total Investment Portfolio

The county’s total holdings at the end of April had a market value of $323-million. The Treasurer’s Office has invested $234.8-million (72.6%) across a variety of fixed income security types.

The total portfolio has a Yield-to-Maturity of 1.21% with an average maturity of 1,255 days (3.4 years). The projected cash flow in April was $294,110.

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 April 30, 2012, the market value of the Corporate Class C Fund was $134.7-million, a month-over-month decrease of $892,552. Excluding cash, yield in the Corporate Class C Fund was 69.7 basis points.

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 April 30, 2012, the market value of the Treasurer’s Class C Fund was $188.4-million. Excluding cash, yield in the Treasurer’s Class C Fund was approximately 3.1%.

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 May 1, 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. The yields reported for Benchmark Tests include cash holdings.

May 1, 2012 Corporate Class C Treasurer’s Class C
7-Day Net Simple 0.0200 % 0.3544 % (Exceed) 1.8396 % (Exceed)
90-Day Treasury Bill 0.0200 % 0.3544 % (Exceed) 1.8396 % (Exceed)
12-Month Treasury 0.1700 % 0.3544 % (Exceed) 1.8396 % (Exceed)
52-Week CDAR 0.2200 % 0.3544 % (Exceed) 1.8396 % (Exceed)
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