[Board] TEP investment policy draft for consideration

[Katie Greenleaf Martin]

Thank you Ruth – you are correct those need to be removed, I found two instances and scrubbed them. They were artifacts of the sample policy I used.
😊
Katie

From: ECDI Coordinator <coordinator at evergreencdi.org>
Sent: Friday, July 12, 2024 7:44 AM
To: Katie Greenleaf Martin <kgm at sparkpa.org>
Cc: Tiffany Little via Board <board at list.evergreen-ils.org>
Subject: Re: [Board] TEP investment policy draft for consideration

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

     *   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)

  1.  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<https://urldefense.proofpoint.com/v2/url?u=https-3A__docs.google.com_document_d_1pse154S2Cqro6lVmqYNeh0-5FOPsnYGIms_edit-3Fusp-3Dsharing-26ouid-3D117418998836160343673-26rtpof-3Dtrue-26sd-3Dtrue&d=DwMFaQ&c=euGZstcaTDllvimEN8b7jXrwqOf-v5A_CdpgnVfiiMM&r=hkUaV5oeez5hwc81VrmIUg&m=D9-Kn5MkU3hxwsdHUzRkeLRXdLU7jtq_WVCEECNblGi7hDiN0NMga2LqflvMNSj2&s=owNCwqZGkWvRe-vur_mVWFvKEpqUZa_7VpcsWy2mx5Y&e=>

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 01DAD439.49BBF4D0]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>
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