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