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…investment portfolio in July 2006 from Certificates of Deposits (CD) to overnight
investments, the investment turnover amount decreased substantially. This was done because of the desire for
liquidity and relatively small differences between overnight and 90 day CD earnings rates.
The University's overall liquidity increased by $5.3 million.…
https://www.wichita.edu/_archive/services/controller/Accounting/_documents/afr_08.pdf