Agenda Item No.
Washburn University Board of Regents
SUBJECT: Public Fund Investments - March, 2002
DESCRIPTION: The Treasurer reports the following public fund investments:
| Amount | Investment Period | Date of Investment | Successful Bidder | Rate |
|
$3,000,000 |
89 Days |
3-29-02 |
Capital City | 1.80% |
|
$2,000,000 |
181 Days |
3-29-02 |
Capital City | 2.11% |
|
$1,500,000 |
181 Days |
3-29-02 |
Bank of America | 1.89% |
|
$1,500,000 |
264 Days |
3-29-02 |
Bank of America | 2.30% |
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 |
$22,836 |
| Benefit Fund |
25,492 |
| Agency Fund |
10,463 |
| Smoothing Fund |
14,853 |
| Total |
$73,644 |
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