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Questions & Answers

General Questions

  • What are the investment objectives for Texas CLASS?

    1. Legality
    2. Safety
      • To minimize risk by managing portfolio investments to preserve principal and maintain a stable Net Asset Value (NAV).
      • To maintain the highest rating for Texas CLASS from a nationally recognized statistical rating organization as long as such rating is required by Texas State Law.
    3. Liquidity
      • To manage portfolio investments in a way that ensures that cash will be available as required to finance Participants’ operations.
    4. Yield
      • To maximize current income to the degree consistent with legality, safety, and liquidity.

  • 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 you 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.

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

  • Please email your audit confirmation to clientservices@texasclass.com and provide either a fax number or email for receipt. Texas CLASS is also accessible on www.confirmation.com and will receive notification of your audit confirmation on the platform.

    Due to the ongoing COVID-19 pandemic, audit confirmations sent via USPS will have a significant delay, so we strongly encourage email confirmations.

  • What type of securities does Texas CLASS invest in?

  • Texas CLASS invests solely in securities that are permitted pursuant to the Public Funds Investment Act. A copy of the current Texas CLASS Investment Policy is available here.

  • What is the minimum requirement for investing in Texas CLASS?

  • There is no minimum investment amount for Texas CLASS.

  • What are the business hours at Texas CLASS?

  • The Texas CLASS offices are open 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.

  • What transaction fees does Texas CLASS charge?

  • Texas CLASS does not charge any transaction fees, but you may incur fees associated with wires and/or ACH transactions by your bank.

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.

  • 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.

  • 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.

  • What are the deposit instructions for Texas CLASS?

  • Please visit the FAQs in the Help Section of the Texas CLASS Online Transaction Portal to view the deposit instructions to send funds into your Texas CLASS account. Please note, you will need to send the fund from your bank.

  • How do I add or remove bank instructions on my Texas CLASS account?

  • Please visit the FAQs in the Help Section of the Texas CLASS Online Transaction Portal to download and fill out the Bank Amendment Form. 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.

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

  • Once logged in, Participants can update their contact information and notification preferences by selecting My Account in the upper right-hand corner of the portal. From there, changes can be made under the Contacts section at the bottom of the page.

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

  • Please visit the FAQs in the Help Section of the Texas CLASS Online Transaction Portal to download and fill out the Signatory Amendment Form. For more information on the levels of access for individuals on your account, please refer to the chart below.

  • How can Participants obtain a copy of the Texas CLASS investment holdings report?

  • The Texas CLASS investment holdings report is available to Participants online via the Texas CLASS Transaction Portal.

  • What are the fees associated with wires and ACHs?

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

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

  • Transactions (withdrawals, contributions, transfers) conducted via the portal, telephone, or fax must be submitted by 4:00 p.m. CT for same-day processing.

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

  • Next day ACH requests must be received by 4:00 p.m. CST (24 hours in advance).

  • 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 are identical for Wires and ACHs.

  • When are the Texas CLASS monthly statements delivered?

  • To download your Texas CLASS statements, please go to the Accounts Menu in the portal. From there, please navigate to the Documents Section. Statements are not emailed for the security of the Texas CLASS Participants’ account information.

  • How do I amend those individuals who receive account correspondence such as monthly statements or transaction confirmations?

  • These changes can be made in writing to clientservices@texasclass.com.

  • What are the limits on the number of transactions?

  • Texas CLASS does not limit the number of transactions.

Texas CLASS Online Transaction Portal

  • 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?

  • Once logged in, Participants can update their phone number by selecting My Account in the upper right-hand corner of the Texas CLASS Online Transaction Portal.

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

  • Participants can change their passwords by visiting the Texas CLASS Online Transaction Portal and following the instructions for resetting your password. Once logged in, Participants can also update their password by selecting My Account in the upper right-hand corner. Usernames cannot be changed. Should you run into difficulties, the Client Service team is happy to assist.

  • How quickly can I expect to receive login credentials?

  • In most cases, login credentials will be distributed on the same day as the request; otherwise, credentials will be available on the following business day.

  • 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.

  • What about reporting features?

  • Reporting features available in the Texas CLASS Transaction Portal include access to monthly statements, transaction confirmations, and details highlighting past, present, and future dated transactions

  • What functions can the Texas CLASS Transaction Portal perform?

  • The Texas CLASS Transaction Portal allows Participants to make contributions, withdrawals, and transfers between subaccounts as well as to other approved Texas CLASS Participants. Users can pre-date important transactions, ensuring that they are handled reliably and avoiding unfortunate timing issues or cash access emergencies. The portal also allows for dual approval of transactions.

  • What is the Texas CLASS 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 investments. The portal is available 24/7, 365 days a year