Agenda Item No.  V. B. 1. c.

Washburn University Board of Regents


 


SUBJECT: Public Fund Investments

DESCRIPTION:

The Treasurer reports the following public fund investments:
 


Amount


 


Investment Period

Date of Investment

Public Fd Rate

WSJ Rate

T-Bill Rate


 


Successful

Bidder

Rate

$1,100,000

180 days

10-30-98

4.65%

N/A

4.155%

MIP

4.65%

$270,000

180 days

10-30-98

4.65%

N/A

4.155%

MIP

4.65%

$250,000

72 days

11-18-98

4.70%

N/A

N/A

UMB Bank

4.87%

$250,000

212 days

11-18-98

4.88%

N/A

N/A

Kaw Valley

4.70%

$250,000

254 days

11-18-98

4.88%

N/A

N/A

Kaw Valley

4.70%

$250,000

286 days

11-18-98

4.76%

N/A

N/A

Kaw Valley

4.70%

$150,000

316 days

11-18-98

4.76%

N/A

N/A

Kaw Valley

4.70%

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
 


$25,224.65


 


Debt Retirement Fund
 


6,191.51


 


Building Constr. Fund
 


32,713.42


 


Total
 


$64,129.58

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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