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<p class="MsoNormal"><span style="font-size:11.0pt;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.
<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:11.0pt;font-family:"Segoe UI Emoji",sans-serif">😊</span><span style="font-size:11.0pt;font-family:"Calibri",sans-serif"><br>
Katie<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:11.0pt;font-family:"Calibri",sans-serif"><o:p> </o:p></span></p>
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<p class="MsoNormal"><b><span style="font-size:11.0pt;font-family:"Calibri",sans-serif">From:</span></b><span style="font-size:11.0pt;font-family:"Calibri",sans-serif"> ECDI Coordinator <coordinator@evergreencdi.org>
<br>
<b>Sent:</b> Friday, July 12, 2024 7:44 AM<br>
<b>To:</b> Katie Greenleaf Martin <kgm@sparkpa.org><br>
<b>Cc:</b> Tiffany Little via Board <board@list.evergreen-ils.org><br>
<b>Subject:</b> Re: [Board] TEP investment policy draft for consideration<o:p></o:p></span></p>
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<p class="MsoNormal"><o:p> </o:p></p>
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<p class="MsoNormal">Hello all,<o:p></o:p></p>
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<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.<o:p></o:p></p>
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<p class="MsoNormal"><o:p> </o:p></p>
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<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?<o:p></o:p></p>
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<p class="MsoNormal"><b>Ruth Frasur Davis, Coordinator</b><o:p></o:p></p>
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<p class="MsoNormal"><b><i>Evergreen Community Development Initiative</i></b><o:p></o:p></p>
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<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><o:p></o:p></p>
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<p class="MsoNormal">(650) 265-1193<o:p></o:p></p>
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<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">board@list.evergreen-ils.org</a>> wrote:<o:p></o:p></p>
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<p class="MsoNormal" style="mso-margin-top-alt:auto;mso-margin-bottom-alt:auto">Hello TEP board & friends –
<o:p></o:p></p>
<p class="MsoNormal" style="mso-margin-top-alt:auto;mso-margin-bottom-alt:auto">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: <o:p></o:p></p>
<ol start="1" type="1">
<li class="m6320762403866821378msolistparagraph" style="mso-list:l0 level1 lfo1">
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)<o:p></o:p></li><li class="m6320762403866821378msolistparagraph" style="mso-list:l0 level1 lfo1">
Consider and potentially purchase one or more short term Certificates of Deposit, with provisions for liquidity as follows:
<o:p></o:p></li></ol>
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No than 50% of assets should be available within a few business days (so that can go in money market accounts)<o:p></o:p></li><li class="m6320762403866821378msolistparagraph" style="mso-list:l0 level2 lfo1">
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)<o:p></o:p></li></ol>
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<li class="m6320762403866821378msolistparagraph" style="mso-list:l0 level1 lfo1">
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)<o:p></o:p></li></ol>
<p class="MsoNormal" style="mso-margin-top-alt:auto;mso-margin-bottom-alt:auto"> <o:p></o:p></p>
<p class="MsoNormal" style="mso-margin-top-alt:auto;mso-margin-bottom-alt:auto">The following policy is submitted for your consideration and we will plan to discuss at our 7/18 meeting:
<o:p></o:p></p>
<p class="MsoNormal" style="mso-margin-top-alt:auto;mso-margin-bottom-alt:auto"><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><o:p></o:p></p>
<p class="MsoNormal" style="mso-margin-top-alt:auto;mso-margin-bottom-alt:auto"> <o:p></o:p></p>
<p class="MsoNormal" style="mso-margin-top-alt:auto;mso-margin-bottom-alt:auto">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. <o:p>
</o:p></p>
<p class="MsoNormal" style="mso-margin-top-alt:auto;mso-margin-bottom-alt:auto">Thanks!
<o:p></o:p></p>
<p class="MsoNormal" style="mso-margin-top-alt:auto;mso-margin-bottom-alt:auto">Katie<o:p></o:p></p>
<p class="MsoNormal" style="mso-margin-top-alt:auto;mso-margin-bottom-alt:auto">TEP Treasurer
<o:p></o:p></p>
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<span style="font-size:9.0pt;font-family:"Segoe UI",sans-serif"> </span><o:p></o:p></p>
<p class="MsoNormal" style="mso-margin-top-alt:auto;mso-margin-bottom-alt:auto;margin-left:1.0in;vertical-align:baseline">
<span style="font-family:"Calibri",sans-serif"><img border="0" width="83" height="83" style="width:.8666in;height:.8666in" id="m_6320762403866821378Picture_x0020_1" src="cid:image001.png@01DAD439.49BBF4D0"></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:#16697A"> </span></span><o:p></o:p></p>
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<b><span style="font-family:"Calibri",sans-serif;color:#3366CC">Pennsylvania Integrated Library System (PaILS) | SPARK</span></b><span style="font-family:"Calibri",sans-serif;color:#3366CC"> </span><o:p></o:p></p>
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<span style="font-family:"Calibri",sans-serif;color:#3366CC">(717</span><span style="font-family:"Calibri",sans-serif;color:#0070C0">) 873-9461</span><span style="font-family:"Calibri",sans-serif"> |
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<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:#0563C1">support.sparkpa.org</span></a><span style="color:#3366CC">
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<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><o:p></o:p></p>
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