Agenda Item No. V. D. 3.
Washburn University Board of Regents
SUBJECT: Public Fund Investments - June, 2002
DESCRIPTION: The Treasurer reports the following public fund investments:
| Amount | Investment Period | Date of Investment | Successful Bidder | Rate |
|
$2,770,000 |
182 Days |
6-26-02 |
Capitol Federal | 2.00% |
|
$13,326,537 |
91 Days |
6-26-02 |
Capitol Federal | 1.80% |
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 |
$17,573 |
| Debt Retirement Fund |
13,332 |
| Building Construction Fund |
29,693 |
| Tort |
9,663 |
| Smoothing Fund |
17,179 |
| Total |
$87,440 |
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