Agenda Item No.
Washburn University Board of Regents
SUBJECT: Public Fund Investments
DESCRIPTION: The Treasurer reports the following public fund investments:
Amount
Investment
Period
Date of
Investment
Successful
Bidder
Rate
| $300,000 | 180 days | 8-29-00 | MIP's | 6.55% |
| $2,350,000 | 180 days | 9-22-00 | MIP's | 6.46% |
| $3,350,000 | 180 days | 9-28-00 | Firstar Bank | 6.58% |
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 | $114,790.17 |
| Building Construction | 62,549.55 |
| Agency | 15,975.13 |
|
Total |
$193,314.85 |
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