Agenda Item No. IV. D. 4.
Washburn University Board of Regents
SUBJECT: Public Fund Investments - December, 2002
DESCRIPTION: The Treasurer reports the following public fund investments:
| Amount | Investment Period | Date of Investment | Successful Bidder | Rate |
|
$6,000,000 |
98 Days |
12-19-02 |
Capital City | 1.30% |
|
$3,000,000 |
188 Days |
12-19-02 |
Capital City | 1.34% |
|
$1,000,000 |
354 Days |
12-19-02 |
Kaw Valley | 1.85% |
|
$9,226,537 |
98 Days |
12-19-02 |
UMB | 1.06% |
|
$2,270,000 |
188 Days |
12-19-02 |
UMB | 1.07% |
Bids for investment of the University's public funds are solicited from area financial institutions in accordance with University policy and in conformance with State law regarding public fund investment (K.S.A. 9-1401 et. seq.)
FINANCIAL IMPLICATIONS:
These investments will generate the following interest income at maturity:
| General Fund |
$40,491 |
| Debt Retirement Fund |
8,403 |
| Building Construction Fund |
4,464 |
| Agency Fund |
2,101 |
| Tort Fund |
6,833 |
| Smoothing Fund |
36,574 |
| Total |
$98,866 |
RECOMMENDATION:
President Farley recommends approval by the Board of Regents of the Public Fund Investments reported in the description above.
____________________ ________________________
(date) Jerry B. Farley, President