--0000000000004f905105dfdd0fa1 Content-Type: text/plain; charset="UTF-8" Content-Transfer-Encoding: quoted-printable Good afternoon Corporate Treasury has asked the Canadian entities to submit bank balances every Thursday morning until our JPM CAN accounts are open and fully integrated. Please see Maeg and Ethen's emails below. *Every Thursday morning (starting tomorrow, May 26)*, please send me the bank balance by *n= oon MST*, and I will compile the information and send those to Maeg. @Tim Thomas please send me the bank balance for Montreal. @Carolina Orosa please send me the BMO bank balance for Vancouver. I have access to the RBC account so I can get the number for that one. @Lindsey Fancy please send me the balances from both SCU accounts. @Chuck Terlesky please send me the Calgary balance. @Cheryl Cartwright I have access to the RBC account so I can get the balance myself. cc you in this email so you know what's going on. @Angie Kunnath @Sam Naffaa Please send me the balances for Oakville and Waterloo. I'll compile those in excel and send them to Maeg so she doesn't get multiple emails. You don't need to worry about the monthly bank inflow and outflow numbers thatTreasury is also asking for. I can get that info from the monthly financial package and I will prepare that for Maeg every month. Thanks everyone for your help. Hua *Hua Wu CA, CPA* Accounting Manager - Canada (403) 369-8848 hua.wu@thekey.com TheKey.com [image: TheKey] On Wed, May 25, 2022 at 3:35 PM Maeg Diokno wrote: > Thanks for the additional background, Ethan. > > *Hua *- appreciate you getting on the quick call with me. > > Per our discussion, I've attached an updated file for everyone to refer > to. No need to complete any other columns other than Column B(Current > Balances) every Thursday. > > Considering the complexity of CAN operations and its differences from the > US, we can opt out of the weekly analysis of AP, Payroll and Collections > amounts; however, please provide the total posted monthly inflows and > outflows at the end of each month, so that Treasury may still have a > general understanding of CAN monthly operations. > > *Ethan *- let me know if anything additional you'd like to add to this. > > Thank you again for everyone's support =F0=9F=98=8A > > > Best Regards, > > Margaret (Maeg) Diokno > *Sr. Treasury Analyst* > U.S. Mobile: +1 (760) 996-2432 > Canada Mobile: +1 (226) 781-4611 > San Diego, CA | USA > [image: TheKey] > *| *TheKey.com > > *Please note, my email has changed: *margaret.diokno@TheKey.com > > > > On Wed, May 25, 2022 at 2:30 PM Timothy Thomas wrote: > >> Makes sense. Thanks Ethan. >> >> On Wed, May 25, 2022 at 5:16 PM Ethan Stein >> wrote: >> >>> To give a bit of add'l color on Maeg's request there are two primary >>> drivers for this new weekly task: >>> 1. Best Practices -- with our current dispersion of banks across North >>> America it's difficult to easily see cash balances, which are of course >>> very important to the business. >>> 2. Debt repayment -- we've acquired a large number of companies in the >>> last year and with it, debt. As interest rates are increasing we're mo= re >>> sensitive to those rates and resulting interest rate expenses. We're >>> pulling in the excess cash to pay down some of that debt and reduce our >>> interest expense. >>> >>> Hope that helps with any head scratching going on, and thank you all fo= r >>> your support with this process, it's much appreciated! >>> >>> Regards, >>> Ethan Stein, CFA >>> Treasurer >>> TheKey.com >>> [image: TheKey] >>> >>> >>> On Wed, May 25, 2022 at 1:46 PM Keerthy Mahesh >>> wrote: >>> >>>> Sure Maeg, I can send you weekly cash update on Scotia >>>> >>>> On Wed, May 25, 2022 at 1:32 PM Maeg Diokno >>>> wrote: >>>> >>>>> All, >>>>> >>>>> Many thanks for your support and teamwork regarding Treasury's urgent >>>>> account balances request last week. >>>>> >>>>> As we continue to wait for our JPM CAN accounts to be open and >>>>> active(should be finalized within the next 2-3 weeks) and for CAN >>>>> operations to be fully integrated into this bank, Treasury needs to >>>>> maintain weekly visibility/awareness of all account balances and >>>>> operations. >>>>> >>>>> Could we kindly task your teams to complete Columns B, G, and H of th= e >>>>> attached file, on a weekly basis? If there are multiple accounts unde= r a >>>>> location, you may provide the total of all related accounts. >>>>> >>>>> I propose that actuals on the attachment be forwarded to Treasury >>>>> every Thursday morning, beginning tomorrow. This will ensure best acc= uracy >>>>> of the values that Treasury presents to our CFO at the end of each we= ek. >>>>> >>>>> *Keerthy *- since you may be the only individual who has access to >>>>> HCAF Scotiabank, hoping you can assist with providing the weekly bala= nce >>>>> for this account. No need to enter anything under Columns G and H as = it >>>>> doesn't seem to be supporting any current operations. >>>>> >>>>> Please feel free