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