F. CASH AND CASH EQUIVALENTS:

Cash and cash equivalents, in thousands of dollars, are comprised of the following:

June 30, 2001 June 30, 2000

Cash, including outstanding checks $ (1,682) $ (3,021)

Repurchase agreements 6,521 6,290

Certificate of deposit 5,000 0

Commercial paper 7,381 7,099

Money markets 31,074 19,572

Total Cash and Cash Equivalents $48,294 $ 29,940

The University classifies resources invested in money market funds and short-term investments with maturities of 90 days or less as cash equivalents.

The University's short-term investment policy requires that bank-related investments, including certificates of deposit (generally these certificates exceed federal insurance levels), meet certain bank deposit, bank capital and bank rating limits. In addition, commercial paper investments must meet certain rating requirements.

The balance of cash at the bank at June 30, 2001 was $1,362,000. Of this bank balance $498,000 was covered by the Federal Depository Insurance Corporation. The remainder of cash and equivalents is uninsured and uncollateralized.