TOWNSHIP SCHOOL TRUSTEES ‘TOWNSHIP 39 RANGE 12— COOK COUNTY, ILLINOIS 10114 GLADSTONE, WESTCHESTER, IL 60154 Skcuse reser asso 00 DAMEL COGLANESE, TREASURER PATRICIA CONNELLY, TRUSTEE Farina January 9, 2015, To: Todd rata, co Proviso Township Schools RE: December 19,2014 requests see attached Sentto you ‘We do nothave a it ‘The monty Statement of Poston s sen to you every month. You hae his In your possession read. RE: December 19,2014 ‘Ay projection of loss at this time is premature and would probably be Incorrect. THERE IS NO LOSS n any of your funds. You again are using trickery in your requests such changing your wording by replacing the word “may” %0 “potent” lost the same question. THERE 5 NO LOSS! THERE I NO LOSS THERE 1SNOLOSS like your new word “POTENTIAL” loss. “A chance o possibilty that something wl happen or extn the fture "aleve the nly person that can anewer thats God Almighty. Be careful diving your cr there ia potential of You getting nan accdent. Actually be careful in everyting You do because there fo chance or pos thet orething will happen oF ex in the future “POTENTIAL” | would ke to know if your poston with Schoo! Distr #209 includes your mirepresentaton Ia newspaper artles of the Treasurer's Office andthe suggestion to eliminate the Proviso Townchip Teasre’s Ofc, yout ‘meetings with Proviso Township Superintendents to lok int the abolishment ofthe Provo Treasurer’ Offer Si meeting with local polars for dhe abolshment of the Provo Township Treasurers Os Hat the ‘versght committee given you the direction for abalshig the Proviso Township Treasurer's Of or for you to ‘oncontrate on Shoal Ostet #209 finances? |AsBroviso Township choo! Treasurer fr 27 years, have never expeiened an inddul sch as yours Daniel coglanese Proviso Township School Treasurer s Please stop burdening my office with your avalanche of requests Why dot you concentrte on whatever ‘yourresponsbties are. THERE 5 NO LOSS ‘Astschment Dr. Nettle Coins Hart, Superintendent, Ostet 209 Craig Seitng Proviso FOP “Members of the Board of Education, Sehoo Dre 208 ‘SCHOOL DSTIUCTS NO. -9FIVERSIDE-SROOKTIELD HGH SCHOOL NO. 2E8PROMISO TWP. EGH SCHOOL NO. 209 PROVISO AREA EXCEPTIONAL COMOREN NO 29George Chirempes From: Barb Maxwell Sent: “Thursday, December 04, 2014 1250 PM Tor Participants ce Laura Allen Subject: JMET Disclosure ‘Attachments: Cover Lipa Disdosure December 4,2014 Dear IMET Fund Participant: ‘As a valued investor with IMET, you understandably have many questions regarding your investment, IMET’s recovery efforts and the sttus of the Convenience Fund, which is why we wanted to update you on the latest information with regard to our efforts to obtain what we hope wil bea full recovery ofthe approximately $50 milion in fraudulent investments. You may recall that the Convenience Fund invested in certain repurchase agreements fom First Farmers Financial, LLC (‘FFF’) which were purportedly backed by USDA guaranteed loans based on the recommendations ofits investment advisor Pennant Management, Inc. (“Peanant”). ‘We want to assure you that this isan isolated incident and is contained as we have eliminated all other repurchase ‘agreements from the Convenience Fund in an abundance of caution for IMET Participants. Further, we have reviewed all other investments and the collateral pledged for these other investments. IMET has end will continue to evaluate its practices and polices in order to continue to protect the Convenience Fund's participants. At present, IMET’s Convenience Fund portfolio consists of bank deposits which are collatenlized by FDIC Insurance, govemment securities at 110 percent or Federal Home Loan Bank lters of credit. We will solicit RFP responses for investment advisory services for fiture needs and review the responses with third party consultants as appropriate. We will continue to make every effort to ensure that the investments of the Convenience Fund are ‘prudent and safe. IMET has retained the law firm of Vedder Price P.C. to assist inthe recovery of ases from all potentially responsible parties. Recovery efforts ae well underway, and IMET successfully fled a motion to intervene in the Pennant ligation against FFF in order to best protect the Convenience Fund Participants" interests in these seized asses. IMET also filed a lawsuit against FFF in federal distict court. Additionally, IMET is working with the Tinois Government Finance Officers Association's Technical Accounting Review Commitee to address Participant audit questions and concer. Jn the meantime, our top priority remains delivering safe and attractive returns tothe municipalities and other public agencies across Ilinois that participate as investors with IMET. Over the course of our 18-year history, IMET has provided outstanding investment options to our participants. This ia the first time we have been the subject of ‘riminal fraud, end we are taking all appropriate actions to guard apaint further such incidents. We ere committed to contin hese updates ad apres your patience and undead as we aggressively panne lea redes in matte, Sincerey, Docsy,