The Enid News and Eagle, Enid, OK

Local news

Discussion

Add a comment on this story
April 24, 2007

PEGASYS jumps into the world

By Robert Barron Staff Writer

PEGASYS board members approved Tuesday investing more than $400,000 with Liberty Federal Savings Bank.

The investments will be administered through Enid Community Foundation.

A recommendation of the finance committee, the investment totaled $433,745 as of Tuesday, said Executive Direc-tor Wendy Quarles. PEGASYS, Enid’s public-access television station, will keep a moderate amount in its checking account.

“The investment will be liquid, so we can take money out of it if we need to,” Quarles told board members. Projected return is 8 percent to 12 percent, which will be deposited directly back into the account. PEGASYS currently is earning 4.96 percent on its savings.

“We want to ensure PEGASYS remains a valuable service to the community of Enid for a long time. With these investments and careful management of our money, we hope to assure our future,” she said.

Quarles said Enid Com-munity Foundation has a proven record, but the funds will be checked daily.

The suggested investment program includes large-cap equities, midcap growth, small-cap, balanced and large-cap foreign. The allocation between equity and fixed is 85 percent to 15 percent.

There is a total investment fee of 1.25 percent, of which Liberty Federal Savings Bank, will receive .06 percent, Quarles said.

In the executive director’s report, Quarles told board members the station hosted five Brazilian Rotarians part of a group study program.

The group toured PEGASYS studios, assisted by PEGASYS staff, and starred in an interview program, moderated by board president Ed Vineyard.

PEGASYS assisted District Attorney Cathy Stocker by taping testimony from two alleged crime victims, Quarles said.

Staff members took equipment and monitors to District Judge Dennis Hladik’s office, but the taping was not necessary when the defendant entered a plea agreement.

Text Only
Local news