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
$500,000 214 days 7-30-99 5.39% Mercantile 5.01%
$4,200,000 322 days 7-30-99 5.46% Mercantile 5.01%
$2,730,000 140 days 7-30-99 5.46% UMB Bank 4.93%
$1,000,000 208 days 8-5-99 5.54% Mercantile 5.34%
$2,000,000 239 days 8-5-99 5.54% Mercantile 5.29%
$500,000 267 days 8-5-99 5.54% Mercantile 5.24%

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 $156,713.21
Building & Construction 14,686.85
Tort 4,336.35
Employee Benefit 185,630.79
Agency 9,447.04
Total $370,814.24


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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