Document kMvjnwZ9qe3qqzYBNamRyawq

From: Bruce Jamot [jamotb@api.org] Sent: Tuesday, April 27, 2004 10:55 AM To: benzconsort-oc@listserve.api.org Cc: benzconsort-tc@listserve.api.org; Linda Kangas; John Wagner Subject: BHRC-OC... UCRSC Interest Rate Calculation BHRC Oversight Committee (OC) Completing an action item from the recent Houston OC meeting, Ann Louden provided the following information regarding 1) how the University of Colorado calculates interest on deposited funds, and 2) the current 1Q04 annualized interest rate ... Best Regards - Bruce. -----Original Message----From: Ann.Louden@UCHSC.edu [mailto:Ann.Louden@UCHSC.edu] Sent: Tuesday, April 27, 2004 10:21 AM To: Bruce Jarnot Subject: Interest Calculation Good morning Bruce, Here is the answer from our Treasurer's office regarding interest calculation. Cash balances to be paid to the project are paid quarterly into the account based on the average daily cash balances for the quarter. The interest rate is the average short term interest for the quarter that the University received less the Treasurer's direct cash management operating expenses. For 1st quarter 2004 (which is 3rd quarter of UCHSC fiscal year) the interest rate less management expenses was 0.849%. This reflects an annual interest rate. I hope this helps. If you have questions or concerns, please call me. Ann Louden University of Colorado Health Sciences Center 4200 E. 9th Avenue/C238 Denver, CO 80262 (303) 315-7170 SH ELL-MCCLU RG-066289