INVESTMENT OF FUNDS

WHEREAS, The Lincoln University Board of Trustees Ad Hoc Committee on Investments and the Business Affairs Committee have separately met to review the cash management procedures of Lincoln University and investment of funds in Repo investments; and

WHEREAS, The Business Affairs Committee of the Board of Trustees has reviewed alternative investments in other mutual funds available to the University; and

WHEREAS, The Board of Trustees intends to invest in cash management financial instruments that are in compliance with Pennsylvania Act 72 statute regarding collateralization; and

WHEREAS, The Business Affairs Committee recommends to the Lincoln University Board of Trustees, pursuant to the receipt of a letter from Goldman Sachs Money Market Fund confirming Pennsylvania Act 72 compliance, to change its daily investment instrument to the Goldman Sachs Money Market Fund; and

WHEREAS, In the event compliance is not achieved, the Business Affairs Committee recommends to the Lincoln University Board of Trustees that it reaffirms the decision to invest Lincoln University's excess cash balances daily in a Repo investment, which is Pennsylvania Act 72 compliant; now, therefore be it

RESOLVED, That the Lincoln University Board of Trustees adopts the recommendation of the Business Affairs Committee.