Financial and Management Reporting. A. Income and Expenses 1. Expense figures calculated and accrual levels set 2. Monitoring of expenses, accruals monthly 3. Approve and coordinate payment of expenses 4. Projection of income and expenses (with regards to B(2)) - ex-date will determine if projection will apply 5. Calculation of advisory fee, 12b-1 fee 6. Calculation of average net assets
B. Distributions to Shareholders 1. Calculations of dividends and capital gain distributions (in conjunction with the Fund and their auditors) a. compliance with income tax provisions b. compliance with excise tax provisions c. compliance with Investment Company Act of 1940
C. Financial Reporting 1. Liaison between Fund management, independent auditors and printers for shareholder reports 2. Preparation of semi-annual and annual reports to shareholders 3. 60-day delivery to SEC and shareholders 4. Preparation of semi-annual and annual NSAR's (financial data)
D. Subchapter M Compliance (monthly) 1. Asset diversification test 2. Short/short test 3.
Financial and Management Reporting. A. Income and Expenses (class specific when applicable) 1. Preparation of monthly expense analysis (class specific) 2. Expense figures calculated and accrual levels set (class specific) 3. Monitoring of expenses paid and expense caps (monthly) 4. Approve and process the payment of authorized expenses 5. Checking Account Reconciliation (monthly) 6. Write checks to pay vendors 7. Calculation and payment of advisory fees
B. Distributions to Shareholders (if applicable) 1. Projections of distribution amounts a. compliance with Sub-Chapter M income tax provisions b. compliance with excise tax provisions - schedules prepared
Financial and Management Reporting. A. Income and Expenses 1. preparation of budgets 2. expense figures calculated and accrual levels set 3. monitoring of expenses, including payments of Fund expenses, and expense caps 4. approve and authorize payment of expenses 5. projection of income 6. checking account reconciliation
Financial and Management Reporting. Income and Expenses
Financial and Management Reporting. (a) The CEO shall cause the Company and the Group on a regular and timely basis to prepare and submit to the Board by November 1 of each calendar year, a proposed annual operating budget for the Group for the next succeeding fiscal year (the “Annual Budget”). The Annual Budget shall include product prices and discounts, analysis of days sales outstanding, cash flow and working capital, detailed overheads, distribution channels and shall be prepared in a form to be agreed between the Parties.
(b) The CEO shall cause monthly management reports to be prepared that shall include statements on the sales, cost items and the cash position of the Group, setting forth in each case in comparative form the corresponding figures for the corresponding period (A) of the preceding fiscal year and (B) in the Annual Budget for such period, all in reasonable detail and accompanied by a succinct narrative discussion of the results of operations compared against the Annual Budget of the Group.
(c) In addition, as promptly as practicable after the Company has Knowledge thereof, the Company shall inform (including by facsimile or other electronic transmission) the Shareholders of the following:
(i) the occurrence of any circumstance or event likely to result in a material adverse change in the results of operations or financial condition or prospects of the Group; and
(ii) the commencement of all actions, suits and proceedings before any Governmental Authority affecting the Group.
(d) In addition, the CEO shall cause to be prepared and delivered to the Shareholders (x) monthly financial information on the Company and its Subsidiaries in form and content agreed between the CEO and the Financial Controller sufficient to allow CEDC to prepare US GAAP consolidated financial statements, (y) quarterly financial statements within 10 days following the term of each calendar quarter and (z) such financial and other management reports as either Shareholder may reasonably request.
Financial and Management Reporting. A. Income and Expenses 1. Monitoring of expenses and expense accruals (monthly) 2. Approve and coordinate payment of expenses 3. Checking Account Reconciliation (monthly) 4. Calculation of advisory fee, 12b-1 fee and reimbursements to Fund, (if applicable) 5. Authorize the recording and amortization of organizational costs and pre-paid expenses (supplied by advisor), for start-up funds and reorganizations. 6. Calculation of average net assets.
B. Distributions to Stockholders 1. Projections of distribution amounts
Financial and Management Reporting. The financial and management reporting requirements of the Corporation as well as its control procedures and hedging and risk management policies shall be agreed by the Board. All material accounting policies of the Corporation shall also be determined by the Board (or the audit committee of the Board, if applicable). Such reporting requirements, control procedures and hedging and risk management policies shall also be approved by Shareholders to the extent required under Section 4.3. The policies shall require in any event that the Corporation will forward to the Shareholders:
(a) copies of the monthly financial statements and monthly reports provided to the Financial Institutions providing Project Debt Financing to the Corporation, which shall be provided to the Shareholders concurrently with the provision of such statements and reports to such Financial Institutions;
(b) within 45 days of the end of each calendar quarter, quarterly management accounts in a form which shall include:
(1) a balance sheet, profit and loss account and cash flow statement for the quarter and year to date which will show the financial position of the Corporation and provide a comparison between budgeted and actual figures for the Boleo Project, together with an explanation of any significant variances between such figures, and a report on the Corporation’s performance; and
(2) a quarterly cash flow projection, including a forecast of required Shareholder contributions for the next 12 months; and
(c) within 90 days following the end of each financial year, the audited accounts of the Corporation. The Corporation will forward to the Shareholders such additional financial information as any Shareholder may reasonably request from time to time, for example, to explain any variances between the budgeted and actual figures of the Corporation for any period. In addition, the Corporation will provide such other non-financial information regarding the Boleo Project and its operation as a Shareholder may reasonably request.
Financial and Management Reporting. A. Income and Expenses.
1. Preparation of budgets. 2. Expense figures calculated and accrual levels set. 3. Monitoring of expenses. 4. Approve and authorize payment of expenses. 5.
Financial and Management Reporting. A. Income and Expenses
1. Monitor separate class expense accruals, expense payments and expense caps (monthly)
2. Approve and coordinate payment of class specific expenses
3. Establish Funds' operating expense checking account and perform monthly reconciliation of checking account ================================================================================ Investment Company Services Agreement between Mattxxxx Xxxernational Funds and FPS Services, Inc. Schedule "A" Page 2 of 21
4. Calculate advisory fee, 12b-1 fee and reimbursements to the Funds, (if applicable)
5. Authorize the recording and amortization of organizational costs and pre-paid expenses (supplied by advisor), for start-up funds and reorganizations
6. Calculate separate class average net assets
7. Calculate separate class expense ratios
B. Distributions to Shareholders
1. Calculate separate class dividends and capital gain distributions (in conjunction with the Funds and their auditors) Record share method a. compliance with income tax provisions (additional calculations required) b. compliance with excise tax provisions c. compliance with Investment Company Act of 1940
2. Book/Tax identification and adjustments at required distribution periods (in conjunction with the Funds and their auditors (adjusted for classes)
C. Financial Reporting (additional reporting and disclosure required for classes)
1. Liaison between Funds' management, independent auditors and printers for semi- annual and annual shareholder reports
2. Prepare semi-annual and annual reports to shareholders
3. Prepare semi-annual and annual Form NSAR's (including Financial Data Schedules)
4. Prepare Financial Statements for required SEC Post-Effective Amendment filings (if applicable)
5. Prepare required annual performance graph (based on advisor supplied indicies)
D. Subchapter M Compliance (monthly)
1. Asset diversification test
2. Short/short test
E. Other Financial Analyses (additional reporting and disclosure required for classes)
1. Upon request from Funds' management, other budgeting and analyses can be constructed to meet the Funds' specific needs (additional fees may apply) reporting by class
2. Sales information, portfolio turnover (monthly) ================================================================================
3. Work closely with independent auditors on return of capital presentation, excise tax calculation
4. Performance (total return) calculation (monthly)
5. 1099 Miscellaneous - prepared and filed for...
Financial and Management Reporting. A. Income and Expenses 1. Monitoring of expense accruals, budgets, expense payments and expense caps 2. Approve and coordinate payment of expenses 3. Calculation of advisory fee, 12b-1 fee and reimbursements to Fund, (if applicable) 4. Authorize the recording and amortization of organizational costs and pre-paid expenses (supplied by Advisor), for start-up funds and reorganizations 5. Calculation of average net assets 6. Expense ratios calculated
B. Distributions to Shareholders 1. Calculations of income dividends and capital gain distributions (in conjunction with the Fund and their auditors) a. compliance with income tax provisions b. compliance with excise tax provisions c. compliance with Investment Company Act of 1940
