SFOF newsletter circulating a state purchase

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PUBLIC EXHIBIT PAGE 1
| think it's the right thing to do for our state."
can a group of political appointees."

Harris said he would focus on financial factors in his investments and avoid
considering his political preferences. He's argued in favor of the sole
fiduciary model and against a board of trustees for managing the state's
investments, saying the change would give more power to the legislature,
which he opposes. Harris said, "It's about accountability. This is a position
that is elected by the people. Not every treasurer is elected by the people,
and so the people get the say, and that is something that | hold near and
dear. That's the backbone of our democracy and one person can be
corrupted, so can a group of political appointees."

Pennsylvania

Incumbent Stacy Garrity (R) and Erin
McClelland (D) are running in the Nov. 5, 2024,
general election for Pennsylvania Treasurer.
ESG and Israeli bonds have emerged as issues
in the race.

Garrity invested $20 million in Israeli bonds on Candidate fot Porneylvemia

Oct. 12, 2023, saying it was important "to show State Treasurer.
our support at a time when the people of Israel
are facing horrific terrorism." Garrity said the
bonds are a good investment because they "pay
above-market returns and they've never
defaulted."

McClelland has argued Garrity politicized the
state’s investments with foreign policy
. . . n Erin McClelland, Democrat
considerations. She said there are "too many Candidate for Pennsylvania
; . . . State Treasurer.
factors when you’re dealing with a foreign

country that you cannot control for." McClelland
says she would use the state’s investments to
promote stricter human rights and

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PUBLIC EXHIBIT PAGE 2
environmental standards in corporate supply
chains.

To learn more about state auditor and state treasurer elections in 2024,
click here.

Thank you for your continued support and

commitment to our mission. We'll provide

updates on the election results from our
ae members as soon as they are available.

j wT {
Ve God bless,

q
i > Dr. OJ Oleka, CEO
State Financial Officers Foundation (SFOF)

Follow Us on Social Media

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PUBLIC EXHIBIT PAGE 3
What is the State Financial
Officers Foundation (SFOF)?
We are the only organization solely focused
on educating and building relationships with
free-market, fiscally conservative statewide
LOOK TO TH E STATES elected financial officials across the country.
Mission Statement:
SFOF’s mission is to drive fiscally sound public policy, by partnering with key

stakeholders and educating Americans on the role of responsible financial
management in a free market economy.

Your continued support is critical to making this happen.

You can learn more about us at WWW.SFOF.com

To visit our website's about page, click here.
To visit our website's state leader roster page, click here.
To make a secure, online contribution to support our critical mission, click here.

Your input is critical to our success. Send us an email with your feedback: info@sfof.com

Contributions to the State Financial Officers Foundation are tax deductible
as SFOF is a non-profit (501c3) organization.

DISCLAIMER: SFOF is a 501c3 non-profit organization. All views, positions, opinions, statements, and
recommendations expressed at any State Financial Officers Foundation (SFOF) event or provided in any
SFOF print or digital publication or email should not be construed as an endorsement for, or opposition to, any
candidate, potential candidate, political party, or PAC by SFOF.

State Financial Officers Foundation | 13851 W. 63rd Street Suite 405 | Shawnee, KS
66216 US

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