[Board] TEP investment policy draft for consideration

[Katie Greenleaf Martin]

Hello TEP board & friends -
We are in the fortunate position of having more assets than we need to have on hand at any given moment, so I would like the board to consider adopting a (very simple) investment policy to allow us to do a few things:

  1.  Select and open a business money market account to allow us to earn interest on funds that we don't need to have in our operating account (but that we could still get to within a few business days)
  2.  Consider and potentially purchase one or more short term Certificates of Deposit, with provisions for liquidity as follows:
     *   No than 50% of assets should be available within a few business days (so that can go in money market accounts)
     *   No assets should be tied up for more than a year; with no more than 25% over 6 months (allowing some investment in short-term CDs)
  3.  Ensure that the selections made for investment of TEP assets are in concert with a very cautious investment strategy (such as avoiding non-insured investment types)

The following policy is submitted for your consideration and we will plan to discuss at our 7/18 meeting:
https://docs.google.com/document/d/1pse154S2Cqro6lVmqYNeh0_OPsnYGIms/edit?usp=sharing&ouid=117418998836160343673&rtpof=true&sd=true

I am also "recruiting" for a TEP finance committee (which does not need to be made up entirely of current board members, so past board members/other interested parties welcome) which will be continuing to plan for the fiscal management of the organization.
Thanks!
Katie
TEP Treasurer

[cid:image001.png at 01DAD3A9.45ACFEB0]Katie Greenleaf Martin (she/her), Executive Director
Pennsylvania Integrated Library System (PaILS) | SPARK
(717) 873-9461 | kgm at sparkpa.org<mailto:kgm at sparkpa.org>
support.sparkpa.org<https://support.sparkpa.org/> | support at sparkpa.org<mailto:support at sparkpa.org>

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