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Questions & Answers

General Questions

  • Who oversees Texas CLASS?

  • Texas CLASS is overseen by the Texas CLASS Board of Trustees, comprised of active members of the pool and elected by the Participants, guided by the Advisory Board. The Board is responsible for selecting the Administrator and Investment Advisor. The Board retains the services of Public Trust Advisors, LLC (Public Trust).

  • Who is eligible to use Texas CLASS?

  • Any municipality, county, school district, or authority created under Section 52(b)(1) or (2), Article III or Section 59, Article XVI, Texas Constitution, a fresh water supply district, a hospital district and any political subdivision, authority, public corporation, body politic, or instrumentality of the state of Texas, any office, department, commission, board, or other agency that is part of any branch of State government, an institution of higher education, and any nonprofit corporation acting on behalf of any of those entities that has taken the actions required by Section 2256.016 of the Act and that has executed either the Trust Agreement or a counterpart of the Trust Agreement or a participation certificate.

  • How can an eligible entity participate in Texas CLASS?

  • Enrolling in Texas CLASS is simple. Any of the entity types listed in the answer above may join Texas CLASS as a Participant and take advantage of the investment program.

    To participate in Texas CLASS, please complete the following:

    1. Read the Trust Agreement
    2. Read the Information Statement
    3. Complete the Registration Packet
      • At your next board meeting, pass a resolution authorizing participation in Texas CLASS
      • Adopt the Trust Agreement by signing Exhibit D located in the Registration Packet
      • Complete the Entity Registration, Authorized Contacts, and the accounts to be established
    4. Keep the original forms for your records, and send the completed packet to the Texas CLASS Client Service Team by fax (855) 848-9910 or by email to clientservices@texasclass.com.
    5. Within 30 days of opening your account, please acknowledge Form 1295 on the Texas Ethics Commission’s website.

  • What are the business hours at Texas CLASS?

  • The Texas CLASS Client Service Team is available Monday through Friday from 8:30 a.m. until 4:30 p.m. CT. Please consult the Client Services Page for Texas CLASS office closures.

  • Is there a maximum or minimum investment requirement for the Texas CLASS Prime and Texas CLASS Government Funds?

  • No, there is no maximum or minimum investment requirement for the Texas CLASS Prime and Texas CLASS Government Funds.

  • Is there a maximum or minimum number of transactions for the Texas CLASS Prime and Texas CLASS Government Funds?

  • No, there is no limit to the number of transactions a Participant may execute with the Texas CLASS Prime and Texas CLASS Government Funds.

  • What are the fees associated with wires/ACHs?

  • Texas CLASS does not charge any banking fees to its Participants. However, your sending/receiving bank may have wiring fees and/or incoming ACH fees, therefore we recommend always checking with a representative at your bank to discuss the potential costs.

  • How can I submit an audit confirmation to Texas CLASS?

  • Texas CLASS is accessible on www.confirmation.com – select the name “Public Trust Advisors” when entering your request. Client Services will receive notification and process your audit confirmation on the platform.

    Alternatively, you may email your audit confirmation to clientservices@texasclass.com and provide either a fax number or email for receipt.

    Audit confirmations sent via USPS may experience a significant delay, so we strongly encourage the first two methods.

Managing My Account

  • Does Texas CLASS limit the number of subaccounts a Participant can have?

  • Texas CLASS does not limit the number of subaccounts Participants can have.

  • How do I make transactions?

  • To invest in or redeem from the Texas CLASS Prime Fund and Texas CLASS Government Fund, Participants must enter their orders through the Online Transaction Portal.

  • What are the daily cut-off times for transactions?

  • Transactions (withdrawals, contributions, transfers) must be submitted by 4:00 p.m. CT for same-day processing.

  • When are wires sent from my account when I request a withdrawal?

  • Wires are sent every hour with the final distribution taking place shortly after the close of the fund at 4:00 p.m. CT; distribution times are subject to change as needed by the Texas CLASS Administrator.

  • For a next-day ACH, what is the cut-off time?

  • Next-day ACH requests must be submitted by 4:00 p.m. CT.

  • What is the difference between a wire and an ACH?

  • Wires are funds transferred via the Federal Reserve Wire System and can be processed and received by your beneficiary bank on the same day if the transaction is requested prior to the 4:00 p.m. CT cut-off. ACHs (Automated Clearing House) are processed overnight and are generally available to the beneficiary bank one business day after the transaction request has been made.

  • Are the banking instructions different for a Wire or an ACH?

  • Many banking institutions have separate ABA/routing numbers depending on whether the transactions are being processed via wire or ACH. Please contact your local banking representative to ensure that you are providing Texas CLASS Client Services with the appropriate account information. The instructions to send money into Texas CLASS can be found in the Texas CLASS Transaction Portal.

  • What are the deposit instructions for the Texas CLASS Prime and Texas CLASS Government Funds?

  • Please go to the Documents Section of the Texas CLASS Online Transaction Portal and click on Forms in the lefthand menu to view the Deposit Instructions. Please note, you will need to initiate the wire with your bank. Texas CLASS must receive the wire by 4:00 p.m. CT.

  • How do I add or delete authorized banks?

  • Please navigate to the Administration menu to make changes to your Authorized Banks. Please refer to the User Guide available in the Forms menu for further instructions.

  • How do I update individuals who have access to my Texas CLASS account?

  • Please navigate to the Administration menu to make changes to your Authorized Contacts. Please refer to the User Guide available in the Forms menu for further instructions.

    For more information on the levels of access for individuals on your account, please refer to the chart above.

  • How do I update my contact information and notification preferences?

  • Once logged in to the Texas CLASS Online Transaction Portal, Participants can update their contact information and notification preferences by navigating to the to the Administration menu then choosing My Info.

Texas CLASS Online Transaction Portal

  • What is the Texas CLASS Online Transaction Portal?

  • The Texas CLASS Transaction Portal is a secure, Internet-based transaction system that allows registered Texas CLASS Participants to self-manage their Texas CLASS accounts. The portal is available 24/7, 365 days a year.

  • What transaction functions can the Texas CLASS Online Transaction Portal perform?

  • The Texas CLASS Online Transaction Portal allows Participants to make contributions, withdrawals, and transfers between subaccounts; Participants may also transfer funds to other Texas CLASS Participants. Users can take advantage of the ability to request transactions up to one year in advance. The portal also allows for dual approval of transactions for those who have submitted the Dual Authorization Form.

  • What reporting features does the Texas CLASS Online Transaction Portal offer?

  • Reporting features available in the Texas CLASS Online Transaction Portal include access to monthly statements, transaction confirmations, and details highlighting past, present, and future-dated transactions. It is also possible to run on-demand reports for custom time frames and download the monthly holdings reports.

  • When are the Texas CLASS monthly statements delivered?

  • You will receive an email notification of the availability of your monthly comprehensive statement. To download your Texas CLASS statement, please go to the Documents Section of the Texas CLASS Online Transaction Portal and click on Statements/Transaction Confirmations.

  • How does a new Texas CLASS Participant receive login credentials?

  • All Participants will receive login credentials upon the establishment of their account via email. If you do not currently have your online credentials, please reach out to Client Services at (800) 707-6242 or email clientservices@texasclass.com.

  • How quickly can I expect to receive login credentials?

  • Login credentials will be distributed once a user is added to an account.

  • How does an existing Texas CLASS Participant change or update their login credentials?

  • Once logged in, Participants can update their password by selecting the Administration menu then choosing My Info.

  • Can I share my online account with another person at my entity?

  • No; for your security, everyone will be required to have their own online user account that is tied to a unique email address. We do not allow multiple contacts to use the same email address.

  • How do I update the phone number used for two-factor authentication via text message?

  • Participants can update their phone number by selecting the Administration menu, then choosing My Info.

Texas CLASS Government & Texas CLASS Prime

  • What are the investment objectives of the Texas CLASS Prime and Texas CLASS Government Funds?

    1. Safety of principal
      • Safety of principal is the foremost objective of the investment program. Investments are undertaken in a manner that prioritizes the preservation of capital.
      • To maintain the highest rating for the Texas CLASS Government and Texas CLASS Prime Funds from a nationally recognized statistical rating organization.
    2. Liquidity of Funds
      • Portfolios are managed to remain sufficiently liquid to help Participants meet cash flow needs that might be reasonably anticipated.
    3. Investment Return
      • Portfolios are designed with the goal of generating a competitive rate of return without undue compromise of the safety and liquidity objectives.
    4. Transparency
      • Portfolios are operationally enabled to allow Participants to readily obtain portfolio and account information via an easy-to-use technology platform.

  • Are Texas CLASS Prime and Texas CLASS Government Funds rated?

  • The Texas CLASS Prime and Texas CLASS Government Funds are rated ‘AAAm’ by S&P Global Ratings Services, the highest rating assigned to principal stability government investment pools.

    A ‘AAAm’ rating by S&P Global Ratings is obtained after S&P evaluates a number of factors including credit quality, market price exposure, and management. Ratings are subject to change and do not remove credit risk.

  • What types of securities do the Texas CLASS Prime and Texas CLASS Government Funds invest in?

  • Texas CLASS invests solely in securities that are permitted pursuant to the Public Funds Investment Act and the Texas CLASS Investment Policy.

  • What are the risks of investing in products like the Texas CLASS Prime and Texas CLASS Government Funds?

  • Investing involves risks including the possible loss of principal. The investment decisions made by the Texas CLASS Prime and Texas CLASS Government Funds are subject to certain risks and such decisions may not always be profitable. The Texas CLASS Prime and Texas CLASS Government Funds do not guarantee returns or performance against stated benchmarks. Past performance is not a guarantee of future results. Many factors affect performance including changes in market conditions and interest rates and in response to other economic, political, or financial developments. The following is a summary of common risks associated with investing in a products like the Texas CLASS Prime and Texas CLASS Government Funds.

    Interest Rate Risk

    The prices of the fixed-income securities in the Texas CLASS Prime and Texas CLASS Government Funds will rise and fall in response to changes in the interest rates paid by similar securities. Generally, when interest rates rise, prices of fixed-income securities fall. However, market factors, such as demand for particular fixed-income securities, may cause the price of certain fixed-income securities to fall while the price of other securities rise or remain unchanged. Interest rate changes have a greater effect on the price of fixed-income securities with longer maturities. The Investment Advisor will seek to manage this risk by purchasing short-term securities.

    Credit Risk

    Credit Risk is the possibility that an issuer of a fixed-income security held in the Texas CLASS Prime and Texas CLASS Government Funds will default on the security by failing to pay interest or principal when due. If an issuer defaults, Participants in the Texas CLASS Prime and Texas CLASS Government Funds may incur losses. The Investment Advisor will seek to manage this risk by purchasing high quality securities as determined by one or more Nationally Recognized Statistical Ratings Organizations and/or the Investment Advisor’s credit research team.

    Stable Net Asset Value (NAV) Risk

    Although the Texas CLASS Prime and Texas CLASS Government Funds are managed to maintain a stable NAV of $1.00 per Share, there is no guarantee that it will be able to do so.

    Investment Not Insured or Guaranteed Risk

    An investment in the Texas CLASS Prime and Texas CLASS Government Funds is neither insured nor guaranteed by the Federal Deposit Insurance Corporation or any other government agency.

    Liquidity Risk

    The Texas CLASS Prime and Texas CLASS Government Funds are subject to certain liquidity risks in which the size of a bond’s market, the frequency of trades, the ease of valuation, and/or issue size may impact the Investment Advisor’s ability to sell investments in a timely fashion or at or near fair value in order to fulfill a Participant’s redemption request.

    Market Risk

    Market risk is the risk that the value of securities owned goes up or down, sometimes rapidly and/or unpredictably, due to factors affecting securities markets generally or within particular industries.

    Issuer Risk

    The risk that the value of a security declines for a reason directly related to the issuer such as management performance, financial leverage, and reduced demand for the issuer’s goods or services.

    Default Risk

    The risk that a bond issuer (or counterparty) will default by failing to repay principal and interest in a timely manner.