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Winfield reports $36.05 million in cash and investments; finance director outlines portfolio changes
Summary
Finance Director Connie Kravitz told trustees the village held $36,050,677 in cash and investments as of Jan. 31, 2026, highlighted a move of funds to PFM-managed investments and Illinois Trust, and said staff will propose raising local government investment pool targets to 60% at a future meeting; no policy change was approved at this session.
Finance Director Connie Kravitz presented the monthly Treasurer's report for Jan. 31, 2026, reporting total village cash and investments (excluding the Police Pension Fund) of $36,050,677 and describing recent changes in how the portfolio is managed.
Kravitz said the village moved investment management from Fifth Third to PFM-managed investments and added Illinois Trust and Illinois Funds to its mix. She outlined holdings by type (U.S. treasuries, agencies, municipal bonds, certificates of deposit) and noted the village had moved some OSLAD grant funds into a separate account for the Riverwalk project. "We have moved the investments from Fifth Third into PFM-managed investments," Kravitz said.
Kravitz told trustees she will bring a proposed change to the investment policy at a later meeting to increase the local government investment pool target to 60 percent and to ask whether the village should have the option to invest in short- and long-term U.S. corporate debt; she emphasized no policy change has yet been approved and any such change would come back to the board for formal action.
During questions, staff said the local-use tax receipts have shifted classification into sales-tax accounts at the state level, which explains low local-use-tax numbers compared with budget. The board also heard an update that the IDOT electrical inspector was to be on site to transfer the red-light-camera project from the contractor back to IDOT, and staff said they would follow up next week.
Kratz (Connie Kravitz) reported the village's weighted average yield at about 3.87 percent and year-over-year cash balances were higher than at the same time last year. Trustees asked clarifying questions; no new fiscal policies or approvals were adopted at the meeting.
