<div dir="ltr"><div>+1</div><div><br></div><div>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.</div><div><br></div><div><div dir="ltr" class="gmail_signature" data-smartmail="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 Fri, Jul 12, 2024 at 8:55 AM Katie Greenleaf Martin <<a href="mailto:kgm@sparkpa.org">kgm@sparkpa.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="msg-4357994697548422104">
<div lang="EN-US" style="overflow-wrap: break-word;">
<div class="m_-4357994697548422104WordSection1">
<p class="MsoNormal"><span style="font-size:11pt;font-family:"Calibri",sans-serif">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.
<u></u><u></u></span></p>
<p class="MsoNormal"><span style="font-size:11pt;font-family:"Segoe UI Emoji",sans-serif">😊</span><span style="font-size:11pt;font-family:"Calibri",sans-serif"><br>
Katie<u></u><u></u></span></p>
<p class="MsoNormal"><span style="font-size:11pt;font-family:"Calibri",sans-serif"><u></u> <u></u></span></p>
<div style="border-width:1pt medium medium;border-style:solid none none;border-color:rgb(225,225,225) currentcolor currentcolor;padding:3pt 0in 0in">
<p class="MsoNormal"><b><span style="font-size:11pt;font-family:"Calibri",sans-serif">From:</span></b><span style="font-size:11pt;font-family:"Calibri",sans-serif"> ECDI Coordinator <<a href="mailto:coordinator@evergreencdi.org" target="_blank">coordinator@evergreencdi.org</a>>
<br>
<b>Sent:</b> Friday, July 12, 2024 7:44 AM<br>
<b>To:</b> Katie Greenleaf Martin <<a href="mailto:kgm@sparkpa.org" target="_blank">kgm@sparkpa.org</a>><br>
<b>Cc:</b> Tiffany Little via Board <<a href="mailto:board@list.evergreen-ils.org" target="_blank">board@list.evergreen-ils.org</a>><br>
<b>Subject:</b> Re: [Board] TEP investment policy draft for consideration<u></u><u></u></span></p>
</div>
<p class="MsoNormal"><u></u> <u></u></p>
<div>
<div>
<p class="MsoNormal">Hello all,<u></u><u></u></p>
</div>
<div>
<p class="MsoNormal"><u></u> <u></u></p>
</div>
<div>
<p class="MsoNormal">There's still some disconnection between lists and my new employment, so this reply might not go to the entire board list.<u></u><u></u></p>
</div>
<div>
<p class="MsoNormal"><u></u> <u></u></p>
</div>
<div>
<p class="MsoNormal">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?<u></u><u></u></p>
</div>
<div>
<p class="MsoNormal"><br clear="all">
<u></u><u></u></p>
</div>
<div>
<div>
<div>
<div>
<div>
<p class="MsoNormal"><b>Ruth Frasur Davis, Coordinator</b><u></u><u></u></p>
</div>
<div>
<p class="MsoNormal"><b><i>Evergreen Community Development Initiative</i></b><u></u><u></u></p>
</div>
<div>
<p class="MsoNormal"><a href="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=" target="_blank">https://evergreencdi.org</a><u></u><u></u></p>
</div>
<div>
<p class="MsoNormal">(650) 265-1193<u></u><u></u></p>
</div>
</div>
</div>
</div>
<p class="MsoNormal"><u></u> <u></u></p>
</div>
<p class="MsoNormal"><u></u> <u></u></p>
<div>
<div>
<p class="MsoNormal">On Thu, Jul 11, 2024 at 3:46<span style="font-family:"Arial",sans-serif"> </span>PM Katie Greenleaf Martin via Board <<a href="mailto:board@list.evergreen-ils.org" target="_blank">board@list.evergreen-ils.org</a>> wrote:<u></u><u></u></p>
</div>
<blockquote style="border-width:medium medium medium 1pt;border-style:none none none solid;border-color:currentcolor currentcolor currentcolor rgb(204,204,204);padding:0in 0in 0in 6pt;margin-left:4.8pt;margin-right:0in">
<div>
<div>
<div>
<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: <u></u><u></u></p>
<ol start="1" type="1">
<li class="m_-4357994697548422104m6320762403866821378msolistparagraph">
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_-4357994697548422104m6320762403866821378msolistparagraph">
Consider and potentially purchase one or more short term Certificates of Deposit, with provisions for liquidity as follows:
<u></u><u></u></li></ol>
<ol start="2" type="1">
<ol start="1" type="a">
<li class="m_-4357994697548422104m6320762403866821378msolistparagraph">
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_-4357994697548422104m6320762403866821378msolistparagraph">
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>
</ol>
<ol start="3" type="1">
<li class="m_-4357994697548422104m6320762403866821378msolistparagraph">
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:
<u></u><u></u></p>
<p class="MsoNormal"><a href="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=" 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"> </span><u></u><u></u></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: 0.8666in; height: 0.8666in;" id="m_-4357994697548422104m_6320762403866821378Picture_x0020_1" src="cid:ii_190a70950cb4cff311"></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 style="color:rgb(22,105,122)"> </span></span><u></u><u></u></p>
<p class="MsoNormal" style="margin-left:1in;vertical-align:baseline">
<b><span style="font-family:"Calibri",sans-serif;color:rgb(51,102,204)">Pennsylvania Integrated Library System (PaILS) | SPARK</span></b><span style="font-family:"Calibri",sans-serif;color:rgb(51,102,204)"> </span><u></u><u></u></p>
<p class="MsoNormal" style="margin-left:1in;vertical-align:baseline">
<span style="font-family:"Calibri",sans-serif;color:rgb(51,102,204)">(717</span><span style="font-family:"Calibri",sans-serif;color:rgb(0,112,192)">) 873-9461</span><span style="font-family:"Calibri",sans-serif"> |
</span><span style="font-size:9pt;font-family:"Segoe UI",sans-serif"><a href="mailto:kgm@sparkpa.org" target="_blank"><span style="font-size:11pt;font-family:"Calibri",sans-serif;color:rgb(5,99,193)">kgm@sparkpa.org</span></a></span><span style="font-family:"Calibri",sans-serif"> <br>
<a href="https://urldefense.proofpoint.com/v2/url?u=https-3A__support.sparkpa.org_&d=DwMFaQ&c=euGZstcaTDllvimEN8b7jXrwqOf-v5A_CdpgnVfiiMM&r=hkUaV5oeez5hwc81VrmIUg&m=D9-Kn5MkU3hxwsdHUzRkeLRXdLU7jtq_WVCEECNblGi7hDiN0NMga2LqflvMNSj2&s=NN1qu8LP2AgxS6bbYZvCJnZ84bDqe1-Ih4FY3LoNF8s&e=" target="_blank"><span style="color:rgb(5,99,193)">support.sparkpa.org</span></a><span style="color:rgb(51,102,204)">
| </span></span><span style="font-size:9pt;font-family:"Segoe UI",sans-serif"><a href="mailto:support@sparkpa.org" target="_blank"><span style="font-size:11pt;font-family:"Calibri",sans-serif;color:rgb(5,99,193)">support@sparkpa.org</span></a></span><span style="font-family:"Calibri",sans-serif;color:rgb(51,102,204)"> </span><u></u><u></u></p>
<p class="MsoNormal"> <u></u><u></u></p>
</div>
</div>
<p class="MsoNormal">_______________________________________________<br>
Board mailing list<br>
<a href="mailto:Board@list.evergreen-ils.org" target="_blank">Board@list.evergreen-ils.org</a><br>
<a href="https://urldefense.proofpoint.com/v2/url?u=http-3A__list.evergreen-2Dils.org_cgi-2Dbin_mailman_listinfo_board&d=DwMFaQ&c=euGZstcaTDllvimEN8b7jXrwqOf-v5A_CdpgnVfiiMM&r=hkUaV5oeez5hwc81VrmIUg&m=D9-Kn5MkU3hxwsdHUzRkeLRXdLU7jtq_WVCEECNblGi7hDiN0NMga2LqflvMNSj2&s=o8mtlarfMlJSR7bFBBAp8ffTV9ZLOKGM9dgtPeGQrsE&e=" target="_blank">http://list.evergreen-ils.org/cgi-bin/mailman/listinfo/board</a><u></u><u></u></p>
</div>
</blockquote>
</div>
</div>
</div>
</div>
</div></blockquote></div>