Agenda Item No. V. D. 3.

Washburn University Board of Regents





SUBJECT: Public Fund Investments - April, 2002



DESCRIPTION: The Treasurer reports the following public fund investments:



Amount Investment Period Date of Investment Successful Bidder Rate

$3,000,000

176 Days

4-3-02

Bank of America 1.92%

$9,526,537

84 Days

4-3-02

Bank of America 1.69%

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

$18,773

Debt Retirement Fund

11,593

Building Construction Fund

25,973

Smoothing Fund

9,387

Total

$65,726





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


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