Agenda Item No. IV. D. 1.
Washburn University Board of Regents
SUBJECT: Public Fund Investments - March, 2003
DESCRIPTION: The Treasurer reports the following public fund investments:
| Amount | Investment Period | Date of Investment | Successful Bidder | Rate |
|
$15,000,000 |
91 Days |
3-27-03 |
Capitol Federal | 1.40% |
|
$5,000,000 |
182 Days |
3-27-03 |
Capitol Federal | 1.45% |
|
$2,000,000 |
266 Days |
3-27-03 |
Capitol Federal | 1.50% |
|
$3,000,000 |
370 Days |
3-27-03 |
Capitol Federal | 1.55% |
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 |
$119,155 |
| Debt Retirement Fund |
9,855 |
| Building Construction Fund |
4,668 |
| Agency Fund |
10,050 |
| Smoothing Fund |
14,913 |
| Total |
$158,641 |
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