Common use of Financial and Management Reporting Clause in Contracts

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