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Collins scholarship fund reports $21.1 million year-end value; $1.1 million cash available for upcoming awards
Summary
The Collins scholarship fund manager told the board the fund ended the year at about $21.1 million, with roughly $509,000 in liquid cash after spring scholarship payments and about $650,000 maturing from one-year CDs later in the year, leaving roughly $1.1 million available to support upcoming scholarships.
A representative for the Collins scholarship fund gave trustees an update on Jan. 13 showing the fund ended the calendar year valued at about $21.1 million. The representative said money-market and cash equivalents totaled about $671,000 at year end, and after making spring scholarship payments those cash balances were about $509,000.
The fund manager told the board that one-year certificates of deposit purchased last year will mature in late April and June,…
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