Agenda Item No.



Washburn University Board of Regents







SUBJECT: Public Fund Investments







DESCRIPTION: The Treasurer reports the following public fund investments:









Amount Amount

Investment Period Date of Investment Public Fd Rate Successful

Bidder

Rate
$250,000 90 days 6-20-00 6.50% Fidelity State 6.65%
$700,000 120 days 6-20-00 6.50% Fidelity State 6.85%
$9,515,000 181 days 6-20-00 6.64% Bank of America 6.65%
$383,816 90 days 6-26-00 6.52% MIP's 6.52%
$300,000 175 days 6-30-00 6.67% Fidelity State 6.90%
$300,000 175 days 6-30-00 6.67% Fidelity State 7.10%



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 $ 36,644.23
Debt Retirement 2,151.65
Building Construction 54,510.06
Employee Benefit 149,211.64
Capital Improvement 1,977.10
Loan 6,747.26
Tort 32,983.10
Agency 75,771.98

Total

$359,997.02



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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