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.
  • What type of securities does Texas CLASS invest in?

  • Texas CLASS invests solely in securities which 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. CST. 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.

Managing My Account

  • 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 by MYACCESS, telephone, or fax must be submitted by 4:00 p.m. CST 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. CST 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?

  • Texas CLASS monthly statements are available in the reporting section of MYACCESS on the first business day of the month.

  • How do I update those individuals who are authorized on our Texas CLASS account?

  • Please fill out the Signatory Amendment Form which is also available in the forms section within MYACCESS.

  • 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.

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

  • Please fill out the Bank Amendment Form which is available in the forms section within MYACCESS.

MYACCESS

  • What is Texas CLASS MYACCESS?

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

  • What functions can MYACCESS perform?

  • Texas CLASS MYACCESS allows Participants to make contributions, withdrawals, and transfers between sub-accounts as well as to other approved Texas CLASS Participants. Users can predate important transactions, ensuring that they are handled reliably and avoid unfortunate timing issues or cash access emergencies. Reporting features available in MYACCESS include access to monthly statements, transaction confirmations, and details highlighting past, present, and future dated transactions.

  • How does a Texas CLASS Participant receive a login for MYACCESS?

  • In order to obtain a MYACCESS online account, Texas CLASS Participants should call Client Services at (800) 707-6242 or email us at clientservices@texasclass.com.

  • How long does it take to receive login credentials for MYACCESS?

  • All new usernames and passwords are system generated and will arrive via email one day after the request is made.