<div dir="ltr"><div>Hello all,</div><div><br></div><div>There's still some disconnection between lists and my new employment, so this reply might not go to the entire board list.</div><div><br></div><div>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?</div><div><br clear="all"></div><div dir="ltr"><div><div dir="ltr" class="gmail_signature"><div dir="ltr"><div><b>Ruth Frasur Davis, Coordinator</b></div><div><b><i>Evergreen Community Development Initiative</i></b></div><div><a href="https://evergreencdi.org" target="_blank">https://evergreencdi.org</a></div><div>(650) 265-1193</div></div></div></div><br></div><br><div class="gmail_quote"><div dir="ltr" class="gmail_attr">On Thu, Jul 11, 2024 at 3:46 PM Katie Greenleaf Martin via Board <<a href="mailto:board@list.evergreen-ils.org">board@list.evergreen-ils.org</a>> wrote:<br></div><blockquote class="gmail_quote" style="margin:0px 0px 0px 0.8ex;border-left:1px solid rgb(204,204,204);padding-left:1ex"><div class="msg6320762403866821378">
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<p class="MsoNormal">Hello TEP board & friends – <u></u><u></u></p>
<p class="MsoNormal">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:
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<li class="m_6320762403866821378MsoListParagraph" style="margin-left:0in">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)<u></u><u></u></li><li class="m_6320762403866821378MsoListParagraph" style="margin-left:0in">Consider and potentially purchase one or more short term Certificates of Deposit, with provisions for liquidity as follows:
<u></u><u></u></li><ol style="margin-top:0in" start="1" type="a">
<li class="m_6320762403866821378MsoListParagraph" style="margin-left:0in">No than 50% of assets should be available within a few business days (so that can go in money market accounts)<u></u><u></u></li><li class="m_6320762403866821378MsoListParagraph" style="margin-left:0in">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)<u></u><u></u></li></ol>
<li class="m_6320762403866821378MsoListParagraph" style="margin-left:0in">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)<u></u><u></u></li></ol>
<p class="MsoNormal"><u></u> <u></u></p>
<p class="MsoNormal">The following policy is submitted for your consideration and we will plan to discuss at our 7/18 meeting:
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<p class="MsoNormal"><a href="https://docs.google.com/document/d/1pse154S2Cqro6lVmqYNeh0_OPsnYGIms/edit?usp=sharing&ouid=117418998836160343673&rtpof=true&sd=true" target="_blank">https://docs.google.com/document/d/1pse154S2Cqro6lVmqYNeh0_OPsnYGIms/edit?usp=sharing&ouid=117418998836160343673&rtpof=true&sd=true</a><u></u><u></u></p>
<p class="MsoNormal"><u></u> <u></u></p>
<p class="MsoNormal">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. <u></u><u></u></p>
<p class="MsoNormal">Thanks! <u></u><u></u></p>
<p class="MsoNormal">Katie<u></u><u></u></p>
<p class="MsoNormal">TEP Treasurer <u></u><u></u></p>
<p class="MsoNormal" style="vertical-align:baseline"><span style="font-size:9pt;font-family:"Segoe UI",sans-serif"><u></u> <u></u></span></p>
<p class="MsoNormal" style="margin-left:1in;vertical-align:baseline"><span style="font-family:"Calibri",sans-serif"><img border="0" width="83" height="83" style="width: 0.8645in; height: 0.8645in;" id="m_6320762403866821378Picture_x0020_1" src="cid:ii_190a6bca35f4cff311"></span><b><span style="font-family:"Calibri",sans-serif">Katie
Greenleaf Martin </span></b><span style="font-family:"Calibri",sans-serif">(she/her),
<b><i>Executive Director</i></b></span><span style="font-size:12pt;font-family:"Calibri",sans-serif;color:rgb(22,105,122)"> </span><span style="font-size:9pt;font-family:"Segoe UI",sans-serif"><u></u><u></u></span></p>
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