Trust accounting definition

Trust accounting means one or more written
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Trust accounting means one or more written communications from the trustee with respect to the accounting year that describe: (A) the trust property, liabilities, receipts, and disbursements, including the amount of the trustee's compensation; (B) the value of the trust assets on hand at the close of the accounting period, to the extent feasible; and (C) all other material facts related to the trustee's administration of the trust.
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Trust accounting means an accounting that adequately discloses the information required by and that substantially complies with the stand- ards set forth in s. 736.08135.
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Examples of Trust accounting in a sentence

  • The TFM is responsible for the central financial processes in the Vine Trust, the accuracy of information in the Trust accounting system and for co-ordinating statutory returns, internal and external audit.

  • The ordinary expenses of the Trust include the costs and expenses associated with valuing Loans, holding the assets of the Trust, accounting and audit fees, legal fees in relation to specific legal issues, and typical compliance costs for a registered scheme.

  • All assets contained in the Trust accounting will be shown at their fair market value as of the end of the Plan Year or as of the date of resignation or removal.

  • The Trustee shall establish and maintain, as to each REMIC Trust, accounting records in which proceeds of the Mortgage Loans and distributions to Certificateholders shall be recorded and in which a record of fully repaid or liquidated Mortgage Loans shall be kept.

  • Performance data for The Plan is based on market value and transaction information provided in the Salem Trust accounting statements.

  • Trust accounting systems should have the ability to account for the various VAT rates applicable to income and expenditure.

  • To ensure consistency of approach and valid comparison of Academies within the Trust, all financial and management accounts produced within the Trust must be prepared in accordance with Trust accounting policies.

  • Xxxxxx Xxx shall establish and maintain, as to the Trust, accounting records in which proceeds of the Mortgage Loans and distributions to Certificateholders shall be recorded and in which a record of fully prepaid Mortgage Loans and Liquidated Mortgage Loans shall be kept.

  • INSURANCEPersonal Property InsuranceThe university does not carry insurance on personal property of faculty members, students or workers, and is not responsible for the loss or damage of such property.

  • The Trustee shall establish and maintain, as to the Trust, accounting records in which proceeds of the Mortgage Loans and distributions to Certificateholders shall be recorded and in which a record of fully repaid or liquidated Mortgage Loans shall be kept.


More Definitions of Trust accounting

Trust accounting means one or more written communications from the trustee with respect to the accounting year that describe: (A) the trust property, liabilities, receipts, and disbursements (including the amount of the trustee's compensation), and (B) all other material facts related to the trustee’s administration of the trust. The trust accounting shall identify and value trust assets on hand at the close of the accounting period, to the extent feasible. For each asset or class of assets for which there is no readily available market value, the trustee, in the trustee’s discretion, may determine whether to estimate the value or use a nominal carrying value for such an asset, how to estimate the value of such an asset, and whether and how often to engage a professional appraiser to value such an asset.
Sample 1
Trust accounting means an accounting that adequately discloses the in- formation required by and that substantially complies with the standards set forth in s. 736.08135.
Sample 1

Related to Trust accounting

  • Trust Accounts has the meaning assigned thereto in Section 5.1.

  • Trust Account means the trust account established by the Company upon the consummation of its IPO and into which a certain amount of the net proceeds of the IPO, together with a certain amount of the proceeds of a private placement of warrants simultaneously with the closing date of the IPO, will be deposited.

  • Subscription Accounting means an accounting of all subscriptions for Shares received and accepted by Broker as of the date of such accounting, indicating for each subscription the Subscriber’s name, social security number and address, the number and total purchase price of subscribed Securities, the date of receipt by Broker of the Cash Investment Instrument, and notations of any nonpayment of the Cash Investment Instrument submitted with such subscription, any withdrawal of such subscription by the Subscriber, any rejection of such subscription by Broker, or other termination, for whatever reason, of such subscription.

  • the Trust Fund means the Bond(s) referred to in the First Schedule to the Declaration of Trust and the property from time to time representing the same (and also includes any other property which may become Trust Property as a result of any loan to the Trustees or any addition by way of gift or any accumulation of income).

  • Principal Account(s means deposit accounts of the Fund carried on the books of BBH&Co. as principal in accordance with Section 7 hereof.

  • Trust Account Property means the Trust Accounts, all amounts and investments held from time to time in any Trust Account (whether in the form of deposit accounts, Physical Property, book-entry securities, uncertificated securities or otherwise), and all proceeds of the foregoing.

  • Accounting Date means the thirtieth day of June in each year and any interim date on which the financial statements of the Trust are drawn up. Provided that the Management Company may, with the written consent of the Trustee and after obtaining approval from the Commission and the Commissioner of Income Tax may change such date to any other date and such change shall be intimated to the Commission.

  • Principal Account as set forth in the Standard Terms and Conditions of Trust shall be replaced with the term "Capital Account."

  • Accounting Event has the meaning set forth in the Supplemental Indenture.

  • Liquidating Trust Assets means the assets of a Debtor or Debtor-Controlled Entity to be transferred to a Liquidating Trust as may be determined by the Plan Administrator, which shall be described in a Liquidating Trust Agreement.

  • Latest Accounts means, in respect of any financial quarter or year of the Group, the latest unaudited (in respect of each financial quarter) or audited (in respect of each financial year) financial statements required to be prepared pursuant to clause 8.1.6;

  • Rebate Fund means the fund so designated in, and created pursuant to, Section 502 hereof.

  • Investment Account As defined in Section 3.12(a).

  • Interest Account means the Account within the Debt Service Fund so designated and established by Article V hereof.

  • Distribution Accounts Collectively, the Upper-Tier REMIC Distribution Account, the Lower-Tier REMIC Distribution Account, the Excess Interest Distribution Account (and in each case any subaccount thereof), all of which may be subaccounts of a single Eligible Account.

  • Interest Collection Subaccount The meaning specified in Section 10.2(a).

  • Trust Funds means any cash comprised of (i) funds specifically and exclusively used for payroll Taxes, payroll and other employee benefit payments to or for the benefit of any Loan Party’s or its Subsidiaries’ employees, (ii) all Taxes required to be collected, remitted or withheld (including, without limitation, federal and state withholding taxes (including the employer’s share thereof) and (iii) any other funds (A) which any Loan Party holds on behalf of another Person and (B) which such Loan Party holds as an escrow or fiduciary for such Person.

  • Investment Accounts means the Collateral Account, Securities Accounts, Commodities Accounts and Deposit Accounts.

  • Acquisition Fund means any company formed with the intent to offer securities to the public and use the proceeds to consummate one or more Business Combinations which are unspecified at the time of the securities offering.

  • Reserve Accounts means the Tax Account, the Insurance Account, the Replacement Reserve Account, the Immediate Repair Account, the Leasing Reserve Account, the Excess Cash Flow Account, the Operating Expense Account, the Ground Rent Account and any other escrow account established by this Agreement or the other Loan Documents (but specifically excluding the Cash Management Account, the Restricted Account and the Debt Service Account).

  • Investment pool means an entity created under the Texas Gov- ernment Code to invest public funds jointly on behalf of the entities that participate in the pool and whose investment objectives in or- der of priority are preservation and safety of principal, liquidity, and yield.

  • Financial Account means an account maintained by a Financial Institution, and includes:

  • State Fund means a component of the Settlement Fund described in subsection VIII.D.

  • Trust Fund The trust fund established by the Trust Agreement, the assets of which consist of the Mortgage Loans and any other assets as set forth therein. Trustee: U.S. Bank National Association, or any successor in interest, or if any successor trustee or co-trustee shall be appointed as provided in the Trust Agreement, then such successor trustee or such co-trustee, as the case may be.