[Board] [Evergreen Board (Private)] TEP August Treasury reports & action items

[Andrea Buntz Neiman]

Ack! Board meeting tomorrow.

Agenda is here:
https://wiki.evergreen-ils.org/doku.php?id=governance:minutes:2024-08-15

Please add/revise as needed :)

ABN

On Wed, Aug 14, 2024 at 4:26 PM Katie Greenleaf Martin <kgm at sparkpa.org>
wrote:

> Hello TEP folks –
>
> You can find my report for this month here:
> https://docs.google.com/document/d/1DKW_8tbUatwotjdFqeKrZZWaaNrujbJQJ3zaOPSsjCk/edit?usp=sharing
>
>
>
> I am requesting action on the Investment policy: UPDATED for your
> consideration: draft TEP investment policy jul 2024.docx
> <https://docs.google.com/document/d/1pse154S2Cqro6lVmqYNeh0_OPsnYGIms/edit?usp=sharing&ouid=117418998836160343673&rtpof=true&sd=true>
>
>
>
> And the committee’s selections for first investments (do not need to be
> approved separately from approving the investment policy framework, but the
> committee is happy to hear any comments/discussion/etc).
>
> Open a money market account: First Internet Bank business money market
> savings
>
> 3.46% with a daily balance of $5,000,000 or below
>
> https://www.firstib.com/business/deposits/business-savings-cds/
>
> Purchase a Certificate of Deposit (CD) through Wells Fargo
> https://www.wellsfargo.com/biz/savings/rates/
>
> My recommendation is that we do at MOST $70,000 (roughly 50% of current
> assets, $146,893.70) in CDs at 4.75% APY:
>
> $70k in 4 month (3 month renewal periods, could roll a portion into a
> longer term one in 4 months if we want. Currently, the 4 month interest
> rate is better than 7.)
>
>
>
> Thanks!
>
> Katie
>
>
>
>
>
> *Katie Greenleaf Martin *(she/her), *Executive Director*
>
> *Pennsylvania Integrated Library System (PaILS) | SPARK*
>
> (717) 873-9461 | kgm at sparkpa.org
> support.sparkpa.org | support at sparkpa.org
>
>
>
> To unsubscribe from this group and stop receiving emails from it, send an
> email to board-private+unsubscribe at evergreen-ils.org.
>


-- 
Andrea Buntz Neiman, MLS
Project Manager for Software Development | Product Specialist
Equinox Open Library Initiative
abneiman at equinoxOLI.org <abneiman at equinoxoli.org>
1-877-OPEN-ILS (673-6457)
Direct: 770-709-5583
*https://www.equinoxOLI.org/ <https://www.equinoxOLI.org/>*
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