Agenda Item No. V. B. 1. a.

Washburn University Board of Regents

SUBJECT: Public Fund Investments

DESCRIPTION: The Treasurer reports the following public fund investments:

Amount Amount

Investment Period Date of Investment Public Fd Rate Successful

Bidder

Rate
$4,100,000 180 days 1-29-99 4.70% MIP's 4.70%
$1,000,000 140 days 1-29-99 4.70% Mercantile 4.50%
$500,000 224 days 1-29-99 4.70% UMB Bank 4.41%
$500,000 238 days 1-29-99 4.70% UMB Bank 4.41%
$1,000,000 244 days 1-29-99 4.70% Mercantile 4.50%
$500,000 252 days 1-29-99 4.70% UMB Bank 4.41%
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 $ 96,402.96
Debt Retirement Fund 15,109.79
Employee Benefit 58,978.50
Tort 3,421.09
Agency 11,593.68
Total $185,506.02

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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