CFA Society Toronto - Board


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Page 83 of 196

A. PURPOSE The purpose of this document is to outline the procedures and strategy to be used by the CEO (ED) in application of the Investment Policy. B. PROCEDURES In accordance with the society's Investment Policy dated April 2009, the following will take place: 1) Arrange the setup of an investment account a. Contacts: Paul Plecash – TD Commercial Banking (416) 983-3456 and TD money desk representative Linda Maccari (416)983-3666 b. Nadia DaMario– TD Waterhouse (416) 982-8402 2) Reallocation of previous check clearing account (has zero balance) for investments 3) Purchase of interest bearing notes that accrue interest (semi-annual pay- interest booked when received) and perhaps bills at a discount if under 1 year 4) Review of how account statement will look and ensure a place on accounting statements for accruals and receipt of cash is created 5) CEO is responsible for buying instruments 6) Policy, procedures, and strategy to be reviewed annually C. STRATEGY The strategy utilized in decision making is as follows: 1) Target of 1-, 2-, and 3-year bank GICs, notes or bonds - provincial bonds, or Canada bonds 2) Approximately $2.1 million in account however some is deferred revenue. a. Retain approximately $600,000 initially in current account. b. With remaining funds, purchase 1-, 2-, and 3-year investments of $500,000 par value for each maturity. 3) "Ceteris Paribus" as sums mature they will be rolled out to 3 year term 4) Once accustomed to these investment flows the society may target some of the $600,000 for short term activities however that will depend on cash draw-downs that take place. CFA Society Toronto Board Manual 2016 Page 82 of 194

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