[Board] TEP investment policy draft for consideration

[ECDI Coordinator]

Hello all,

There's still some disconnection between lists and my new employment, so
this reply might not go to the entire board list.

Katie,  thank you for doing this.  There is a line of credit mentioned in
the draft that I didn't see mentioned in this explanation or the investment
policy beyond the one statement.  Was that meant to be included?

*Ruth Frasur Davis, Coordinator*
*Evergreen Community Development Initiative*
https://evergreencdi.org
(650) 265-1193


On Thu, Jul 11, 2024 at 3:46 PM Katie Greenleaf Martin via Board <
board at list.evergreen-ils.org> wrote:

> 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:
>       1. No than 50% of assets should be available within a few business
>       days (so that can go in money market accounts)
>       2. 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
>
>
>
> *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
>
>
> _______________________________________________
> Board mailing list
> Board at list.evergreen-ils.org
> http://list.evergreen-ils.org/cgi-bin/mailman/listinfo/board
>
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