Management and Administration 5.1 TxDOT Responsibility for Policy Decisions All policy decisions regarding use, operation and maintenance of the Project shall rest solely with TxDOT.
Bookkeeping and Administrative Expenses If so provided in the Prospectus, as compensation for providing bookkeeping and other administrative services of a character described in Section 26(a)(2)(C) of the Investment Company Act of 1940 to the extent such services are in addition to, and do not duplicate, the services to be provided hereunder by the Trustee or the Depositor for providing supervisory services, the Depositor shall receive at the times specified in Section 3.05, against a statement or statements therefor submitted to the Trustee an aggregate annual fee in an amount which shall not exceed that amount set forth in the Prospectus, calculated as specified in Section 3.05. Such compensation may, from time to time, be adjusted provided that the total adjustment upward does not, at the time of such adjustment, exceed the percentage of the total increase, during the period from the Trust Agreement to the date of any such increase, in consumer prices for services as measured by the United States Department of Labor Consumer Price Index entitled "All Services Less Rent of Shelter" or similar index as described under Section 3.18. The consent or concurrence of any Unitholder hereunder shall not be required for any such adjustment or increase. Such compensations shall be paid by the Trustee, upon receipt of invoice therefor from the Depositor, upon which, as to the cost incurred by the Depositor of providing services hereunder the Trustee may rely, and shall be charged against the Income and Capital Accounts as specified in Section 3.05. The Trustee shall have no liability to any Unitholder or other person for any payment made in good faith pursuant to this Section. If the cash balance in the Income and Capital Accounts shall be insufficient to provide for amounts payable pursuant to this Section 3.23, the Trustee shall have the power to sell (1) Securities from the current list of Securities designated to be sold pursuant to Section 5.02 hereof, or (2) if no such Securities have been so designated, such Securities as the Trustee may see fit to sell in its own discretion, and to apply the proceeds of any such sale in payment of the amounts payable pursuant to this Section 3.23. Any moneys payable to the Depositor pursuant to this Section 3.23 shall be secured by a prior lien on the Trust except that no such lien shall be prior to any lien in favor of the Trustee under the provisions of Section 6.04. Any moneys payable to the Depositor pursuant to this Section 3.23 shall be secured by a prior lien on the Trust except that no such lien shall be prior to any lien in favor of the Trustee under the provisions of Section 6.04.
General and Administrative Expenses All expenses of the Company shall be billed to and paid by the Company. The Managers may be reimbursed for the actual cost of goods and services used for or by the Company. The Managers may be reimbursed for the administrative services necessary to the prudent operation of the Company; provided, the reimbursement shall be the lower of the Manager’s actual cost or the amount the Company would be required to pay persons other than Affiliates for comparable administrative services in the same geographic location; and provided, further, that such costs are reasonably allocated to the Company on the basis of assets, revenues, time records or other method conforming with generally accepted accounting principles. No reimbursement shall be permitted for services for which the Manager is entitled to compensation by way of a separate fee.
Fund Administration ● Prepare annual and semi-annual financial statements ○ Utilizing templates for standard layout and printing ● Prepare Forms N-CEN, N-CSR and 24F-2 ● File Forms N-CEN and 24F-2 with the SEC ● Host annual audits ● Prepare required reports for quarterly Board meetings ● Monitor expense ratios ● Maintain budget vs. actual expenses ● Manage fund invoice approval and xxxx payment process ● Assist with placement of Fidelity Bond and E&O insurance Fund Accounting ● Calculate monthly NAVs as required by the Trust and in conformance with generally accepted accounting principles (“GAAP”), SEC Regulation S-X (or any successor regulation) and the Internal Revenue Code ● Transmit net asset values to the advisor, NASDAQ, Transfer Agent & other third parties ● Reconcile cash & investment balances with the custodian ● Provide data and reports to support preparation of financial statements and filings ● Prepare required Fund Accounting records in accordance with the 1940 Act ● Obtain and apply security valuations as directed and determined by the Fund consistent with the Fund’s pricing and valuation policies ● Participate, when requested, in Fair Value Committee meetings as a non-voting member ● Calculate monthly SEC standardized total return performance figures ● Coordinate reporting to outside agencies including Morningstar, etc. ● Prepare and file Form N-PORT Legal Administration ● Coordinate annual update to prospectus and statement of additional information ● Coordinate standard layout and printing of prospectus ● Files Forms N-CSR and N-PX ● Coordinate EDGARization and filing of SEC documents ● Compile and distribute board materials (electronically) for quarterly board meetings ● Attend quarterly board meetings telephonically and prepare initial draft of meeting minutes Compliance Administration ● Perform daily prospectus & SAI, SEC investment restriction monitoring ● Provide warning/Alert notification with supporting documentation ● Provide quarterly compliance testing certification to Board of Trustees SS&C ALPS Client Portal ● Document Management/Sharing ● Initiate requests or provide feedback ● Retrieval of current and up to 15 months of historical reports ● Access to daily fund accounting data and static reports ● Portfolio compliance alerting with drill-down capability ● Portfolio data warehouse with reporting engine ● Investor data warehouse with ad hoc query builder ● Investor document image retrieval (i.e. correspondence, applications, checks) ● Trustee access that facilitates access to board materials and other relevant documents Notes and Terms to SS&C ALPS Services
