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<p class="MsoNormal">Hello TEP folks – <o:p></o:p></p>
<p class="MsoNormal">You can find my report for this month here: <a href="https://docs.google.com/document/d/1DKW_8tbUatwotjdFqeKrZZWaaNrujbJQJ3zaOPSsjCk/edit?usp=sharing">
https://docs.google.com/document/d/1DKW_8tbUatwotjdFqeKrZZWaaNrujbJQJ3zaOPSsjCk/edit?usp=sharing</a><o:p></o:p></p>
<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal">I am requesting action on the Investment policy: UPDATED for your consideration:
<a href="https://docs.google.com/document/d/1pse154S2Cqro6lVmqYNeh0_OPsnYGIms/edit?usp=sharing&ouid=117418998836160343673&rtpof=true&sd=true">
draft TEP investment policy jul 2024.docx</a><o:p></o:p></p>
<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal">And the committee’s selections for first investments (do not need to be approved separately from approving the investment policy framework, but the committee is happy to hear any comments/discussion/etc).
<o:p></o:p></p>
<p class="MsoNormal" style="margin-left:.25in">Open a money market account: First Internet Bank business money market savings<o:p></o:p></p>
<p class="MsoNormal" style="margin-left:.75in">3.46% with a daily balance of $5,000,000 or below<o:p></o:p></p>
<p class="MsoNormal" style="margin-left:.75in"><a href="https://www.firstib.com/business/deposits/business-savings-cds/">https://www.firstib.com/business/deposits/business-savings-cds/</a><o:p></o:p></p>
<p class="MsoNormal" style="margin-left:.25in">Purchase a Certificate of Deposit (CD) through Wells Fargo
<a href="https://www.wellsfargo.com/biz/savings/rates/">https://www.wellsfargo.com/biz/savings/rates/</a> <o:p></o:p></p>
<p class="MsoNormal" style="margin-left:.75in">My recommendation is that we do at MOST $70,000 (roughly 50% of current assets, $146,893.70) in CDs at 4.75% APY:<o:p></o:p></p>
<p class="MsoNormal" style="margin-left:1.25in">$70k in 4 month (3 month renewal periods, could roll a portion into a longer term one in 4 months if we want. Currently, the 4 month interest rate is better than 7.)<o:p></o:p></p>
<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal">Thanks!<o:p></o:p></p>
<p class="MsoNormal">Katie <o:p></o:p></p>
<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal" style="vertical-align:baseline"><span style="font-size:9.0pt;font-family:"Segoe UI",sans-serif;mso-ligatures:none"><o:p> </o:p></span></p>
<p class="MsoNormal" style="margin-left:1.0in;vertical-align:baseline"><span style="font-family:"Calibri",sans-serif"><img border="0" width="83" height="83" style="width:.8645in;height:.8645in" id="Picture_x0020_1" src="cid:image001.png@01DAEE63.94115DB0"></span><b><span style="font-family:"Calibri",sans-serif;mso-ligatures:none">Katie
Greenleaf Martin </span></b><span style="font-family:"Calibri",sans-serif;mso-ligatures:none">(she/her),
<b><i>Executive Director</i></b></span><span style="font-size:12.0pt;font-family:"Calibri",sans-serif;color:#16697A;mso-ligatures:none"> </span><span style="font-size:9.0pt;font-family:"Segoe UI",sans-serif;mso-ligatures:none"><o:p></o:p></span></p>
<p class="MsoNormal" style="margin-left:1.0in;vertical-align:baseline"><b><span style="font-size:12.0pt;font-family:"Calibri",sans-serif;color:#3366CC;mso-ligatures:none">Pennsylvania Integrated Library System (PaILS) | SPARK</span></b><span style="font-size:12.0pt;font-family:"Calibri",sans-serif;color:#3366CC;mso-ligatures:none"> </span><span style="font-size:9.0pt;font-family:"Segoe UI",sans-serif;mso-ligatures:none"><o:p></o:p></span></p>
<p class="MsoNormal" style="margin-left:1.0in;vertical-align:baseline"><span style="font-family:"Calibri",sans-serif;color:#3366CC;mso-ligatures:none">(717</span><span style="font-family:"Calibri",sans-serif;color:#0070C0;mso-ligatures:none">) 873-9461</span><span style="font-family:"Calibri",sans-serif;mso-ligatures:none">
| </span><span style="font-size:9.0pt;font-family:"Segoe UI",sans-serif;mso-ligatures:none"><a href="mailto:kgm@sparkpa.org" target="_blank"><span style="font-size:11.0pt;font-family:"Calibri",sans-serif;color:#0563C1">kgm@sparkpa.org</span></a></span><span style="font-family:"Calibri",sans-serif;mso-ligatures:none"> <br>
<a href="https://support.sparkpa.org/" target="_blank"><span style="color:#0563C1">support.sparkpa.org</span></a><span style="color:#3366CC"> |
</span></span><span style="font-size:9.0pt;font-family:"Segoe UI",sans-serif;mso-ligatures:none"><a href="mailto:support@sparkpa.org" target="_blank"><span style="font-size:11.0pt;font-family:"Calibri",sans-serif;color:#0563C1">support@sparkpa.org</span></a></span><span style="font-family:"Calibri",sans-serif;color:#3366CC;mso-ligatures:none"> </span><span style="font-size:9.0pt;font-family:"Segoe UI",sans-serif;mso-ligatures:none"><o:p></o:p></span></p>
<p class="MsoNormal"><o:p> </o:p></p>
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