Frequently Asked Questions

General Questions          Managing My Account          MYACCESS

General Questions

Q: Who Oversees Texas CLASS?
A: The Texas CLASS Board of Trustees, comprising active members of the pool and elected by the Participants, guided by the Advisory Board, oversees the management of Texas CLASS. The Board is responsible for selecting the Administrator and Investment Advisor. The Board retains the services of Public Trust Advisors, LLC (Public Trust), located in Denver, CO.

Q: What type of securities does Texas CLASS invest in?
A: Texas CLASS invests solely in securities which are permitted pursuant to the Public Funds Investment Act. In addition, such securities must also be permitted by Rule 2a-7, even though Rule 2a-7 is not applicable to Texas CLASS. All investment securities purchased for Texas CLASS, including those with repurchase agreements, are delivered to the Custodian and held for the benefit of Texas CLASS and its Participants. A copy of the current Texas CLASS Investment Policy is available under the Document Center.

Q: Who is eligible to use Texas CLASS?
A: Eligible participants include 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.

Q: How can you Participate in Texas CLASS?
A: 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. After reading the Trust Agreement and Information Statement, follow these steps: 1) Pass a resolution authorizing participation in Texas CLASS. 2) Adopt the Trust Agreement by signing a Participant Certificate Agreement. 3) Complete the Texas CLASS Registration Packet (the Registration Packet can be located in the Document Center). 4) Please mail all completed forms, along with a copy of the entities investment policy to the following address: Texas CLASS Client Services c/o Public Trust Advisors, LLC 717 17th Street, Suite 1850 Denver, CO 80202

Q: What are the investment objectives for Texas CLASS?
A: There are four objectives for Texas CLASS: 1) Legality: investing only in investments legally permitted under Texas State Law. 2) Safety: Minimizing risk by managing the portfolio in a matter which stresses the preservation of principal while maintaining a stable asset value and holding the highest rating for the pool from a nationally recognized statistical rating organization (Standard & Poor's 'AAAm'). 3) Liquidity: Making every effort to ensure that all cash will be available as required to finance Participants' operations. 4) Yield: maximizing current income to the degree consistent with the first three primary objectives of Texas CLASS.

Q: What is the minimum requirement for investing in Texas CLASS?
A: There is no minimum investment amount for Texas CLASS.

Q: What transation fees does Texas CLASS charge?
A: Texas CLASS does not charge any transacion fees.

Q: What are the limits on the number of transactions?
A: Texas CLASS does not limit the number of transactions.

Q: Does Texas CLASS limit the number of subaccounts?
A: Texas CLASS does not limit the number of subaccounts.

Q: What are the business hours at Texas CLASS?
A: The Texas CLASS Offices are open Monday through Friday from 8:30 a.m. until 4:30 p.m. CST. Please consult the News and Notices page for Texas CLASS office closures.

 

Managing My Account

Q: What are the daily cut-off times for transactions?
A: Transactions (withdrawals, contributions, transfers) conducted by MYACCESS, telephone, or fax must be submitted by 4:00 p.m. CST for same-day processing.

Q: What is the difference between a Wire and an ACH?
A: Wires are funds transferred via the Federal Reserve Wire System and can be processed and received by your beneficiary bank on the same day as long as 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.

Q: For a next-day ACH, what is the cut-off time?
A: Next day ACH requests must be received by 4:00 p.m. CST (24 hours in advance).

Q: What are the fees associated with Wires and ACHs?
A: Texas CLASS does not charge any banking fees to its Participants. However, your 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.

Q: Are the banking instructions different for a Wire or an ACH?
A: 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.

Q: How do I add or remove bank instructions on our Texas CLASS account?
A: Please fill out the Depository Bank Amendment Form which is available in the Document Center as well as in the forms section within MYACCESS.

Q: How do I update those individuals who are authorized on our Texas CLASS account?
A: Please fill out the Authorized Signatory Amendment Form which is available in the Document Center as well as in the forms section within MYACCESS.

Q: How do I amend those individuals who receive account correspondence such as monthly statements or transaction confirmations?
A: These changes can be made by contacting Texas CLASS Client Services at (800) 707-6242 or via email at clientservices@texasclass.com.

Q: When are the Texas CLASS monthly statements delivered?
A: Texas CLASS monthly statements are emailed to Participants on the second business day of the month.

 

MYACCESS

Q: What is Texas CLASS MYACCESS?
A: 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.

Q: How does a Texas CLASS Participant receive a login for MYACCESS?
A: In order to obtain a MYACCESS registration and instructions, Texas CLASS Participants should call Client Services at (800) 707-6242 or email us at clientservices@texasclass.com.

Q: What functions can MYACCESS perform?
A: Texas CLASS MYACCESS 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. Reporting features available via MYACCESS include access to monthly statements, transaction confirmations and details highlighting past, present and future dated transactions.

Q: How long does it take to receive a registration for MYACCESS?
A: All new usernames and passwords are system generated and will arrive via email one day after the request is made.