Agenda Item No.
Washburn University Board of Regents
SUBJECT: Public Fund Investments - December, 2001
DESCRIPTION: The Treasurer reports the following public fund investments:
| Amount | Investment Period | Date of Investment | Successful Bidder | Rate |
|
$1,000,000 |
91 days |
12-21-01 |
Capitol Federal | 1.75% |
|
$7,300,000 |
182 days |
12-21-01 |
Capitol Federal | 1.85% |
|
$1,000,000 |
363 days |
12-21-01 |
Kaw Valley | 2.70 % |
|
$1,000,000 |
279 days |
12-21-01 |
Kaw Valley | 2.40% |
|
$9,000,000 |
91 days |
12-27-01 |
Capitol Federal | 1.90% |
|
$1,976,690 |
91 days |
12-27-01 |
Capitol Federal | 1.90% |
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:
This investment will generate the following interest income at maturity:
| General Fund |
$ 46,576 |
| Debt Retirement |
51,996 |
| Building Construction |
4,710 |
| Employee Benefit |
13,904 |
| Tort |
9,037 |
| Smoothing |
45,197 |
| Total |
$171,420 |
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