Agenda Item No. IV. D. 3.
Washburn University Board of Regents
SUBJECT: Public Fund Investments - September, 2002
DESCRIPTION: The Treasurer reports the following public fund investments:
| Amount | Investment Period | Date of Investment | Successful Bidder | Rate |
|
$20,826,536.70 |
91 Days |
9-27-02 |
Capitol Federal | 1.80% |
|
$5,000,000.00 |
182 Days |
9-26-02 |
Capital City | 1.66% |
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 |
$ 67,560 |
| Debt Retirement Fund |
12,103 |
| Building Construction Fund |
14,697 |
| Agency |
12,600 |
| Smoothing Fund |
20,876 |
| Total |
$127,836 |
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