Agenda Item No.               

                            Washburn University Board of Regents

 

 

SUBJECT:       Public Fund Investments – September, 2001

 

           

DESCRIPTION:  The Treasurer reports the following public fund investments:

 

 

 

Amount

Investment Period

Date of Investment

Successful Bidder

Rate

 

$2,000,000	91 days	9-28-01	Capitol Federal	3.30%
$3,500,000	182 days	9-28-01	Capitol Federal	3.50%
$1,500,000	271 days	9-28-01	Capitol Federal	3.80%

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	$ 26,494.59
Building Construction	15,063.98
Agency	17,560.37
Smoothing	17,560.37
Employee Benefit	42,920.94
Total	$119,600.25

 

 

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