--000000000000b8c19705dfdc94d0 Content-Type: text/plain; charset="UTF-8" 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 more 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 for 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 the >> attached file, on a weekly basis? If there are multiple accounts under 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 accuracy of the >> values that Treasury presents to our CFO at the end of each week. >> >> *Keerthy *- since you may be the only individual who has access to HCAF >> Scotiabank, hoping you can assist with providing the weekly balance 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 to respond with any follow up questions, provide >> additional suggestions on important items/calculations I may have missed >> and/or advise if it might be beneficial to further discuss in a quick >> meeting if any clarification is needed. I don't mind scheduling this on our >> calendars. >> >> Appreciate everyone's partnership and collaboration with this new >> exercise. >> >> >> 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 >> >> > > > -- > Keerthy Mahesh > Accounting Manager > * Please note my email has changed: * > kmahesh@thekey.com > 650-559-1513 Ext. 609 > TheKey.com > [image: TheKey]