SUBJECT: Public Fund Investments
DESCRIPTION: The Treasurer reports the following public fund investments:
Amount
Amount Bidder
Investment
Period
Date of
Investment
Public
Fd Rate
Successful
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