Wayne State University

Cash Management

The cash and temporary investments and bond proceed investments are managed in accordance with the Board of Governors' Cash Management Policy.

The University held the following types of fixed income investments and cash as of September 30, 2016 (in thousands).

Investment Type Fair Value
U.S. Treasuries $ 5,140
Securitized investments $ 9,474
Money market mutual funds $ 4,115
Corporate securities $ 124,128
Fixed-income institutional bond funds $ 121,930
High yield short-term fund $ 16,517
Non-U.S. fixed-income securities $ 17,660
Other Investments $ 3,647
Total fixed-income investments $ 308,083
Cash and checks issued-Net $ 30,107
Total cash and investments $ 338,190

For amounts deposited in commercial banks, custodial credit risk is the risk that, in the event of a bank failure, the University's deposits may not be available or returned. The University does not have a deposit policy governing custodial credit risk. At September 30,2016 and 2015, the carrying amount of these deposits totaled $46,642,000 and $49,038,000, respectively. Ofthese amounts, $45,840,000 and $48,236,000, respectively, were uninsured and not collateralized.

The University's cash and temporary investments provided a return of3.8 percent and 1.4 percent for the fiscal years ended September 30, 2016 and 2015, respectively. Investments in the Plant Fund consist of invested bond proceeds and related earnings which are restricted for capital projects.

For additional information on cash and temporary investments see Note 2 to the Financial Reports.