[Board] TEP investment policy draft for consideration

[ECDI Coordinator]

+1

Beyond that, this looks great.  I'll look at it more prior to the meeting,
but I think both the idea and the draft are steps down the right path.
Also, give a holler if you need people for the finance committee.

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


On Fri, Jul 12, 2024 at 8:55 AM Katie Greenleaf Martin <kgm at sparkpa.org>
wrote:

> 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*
>
> https://evergreencdi.org
> <https://urldefense.proofpoint.com/v2/url?u=https-3A__evergreencdi.org&d=DwMFaQ&c=euGZstcaTDllvimEN8b7jXrwqOf-v5A_CdpgnVfiiMM&r=hkUaV5oeez5hwc81VrmIUg&m=D9-Kn5MkU3hxwsdHUzRkeLRXdLU7jtq_WVCEECNblGi7hDiN0NMga2LqflvMNSj2&s=0ykFjeXUtuQaXm84xDQoAtnYBWV6oUu7Fs4dQwND9GA&e=>
>
> (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
> <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
>
>
>
> *Katie Greenleaf Martin *(she/her), *Executive Director*
>
> *Pennsylvania Integrated Library System (PaILS) | SPARK*
>
> (717) 873-9461 | kgm at sparkpa.org
> support.sparkpa.org
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> | support at sparkpa.org
>
>
>
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