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Dec. 21, 2012
The Northwest Missouri State University Board of Regents, during a meeting Thursday, Dec. 20, approved an upgrade of the University’s wireless network across the campus as well as an update to the University’s investment policy.
Addressing the need for wireless network upgrades, University President Dr. John Jasinski said Northwest has been upgrading its wireless network systematically, but the approved upgrade will allow it to complete the campus upgrade in full and realize a savings of $207,000. Recently, Northwest completed wireless network upgrades at Colden Hall and its high-rise residence halls. The remainder of the upgrades are scheduled to be completed this spring.
The Board also approved a revision to the University’s investment policy to expand its acceptable securities to include an irrevocable standby letter of credit issued by a Federal Home Loan Bank. Vice President of Finance Stacy Carrick explained to the Board that Northwest currently has funds covered by the Transaction Account Guarantee (TAG) program, which is set to expire Dec. 31 and would no longer provide full FDIC coverage.
The revised policy will ensure Northwest’s deposits are appropriately covered by pledged securities after the TAG program expires. Northwest’s investment policy, developed in 2011, provides guidelines under which the investments of the University are managed in conformity with cash flow demands and state laws.
The Board of Regents is responsible for sound resource management of the University and determining general, educational and financial policies.
Mark Hornickel, Media Relations Specialist
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Northwest Missouri State University
215 Administration Building | 800 University Drive | Maryville, MO 64468