Washburn University Board of Regents

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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$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%

General Fund	$156,713.21
Building & Construction	14,686.85
Tort	4,336.35
Employee Benefit	185,630.79
Agency	9,447.04