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New Mexico State University

New Mexico State University

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New Mexico State University establishes local investment program

New Mexico State University has formalized a process for partnering with local financial institutions for the investment of the university's cash balances, Vice President for Business and Finance Jim McDonough said.

ing on the availability of funds for short-term investment, the university will provide the opportunity for financial institutions to propose their participation in NMSU's short-term investment pool," McDonough said. "We anticipate having millions of NMSU's dollars working for and within the local economy."

Requests for investment proposals will be issued quarterly and will be tailored to accommodate the deposit needs of individual financial institutions, he said. The first call is expected to be issued for funds in the final calendar quarter of 2002.

McDonough said the university has worked with local financial institutions for the investment of cash balances in the past but has not previously had a formal process for doing so.

"All qualifying financial institutions within Las Cruces and Dona Ana County are encouraged to participate in this mutually beneficial financial program," he said. Institutions interested in the program should contact the university's Office of Treasury Services at (505) 646-4019 for more information.