Frequently Asked Questions
Q: Who oversees COLOTRUST?
A: The Board of Trustees is comprised of 12 active members of the pool who have been elected by the participants to oversee the management of COLOTRUST. The Board is responsible for selecting the Administrator and Investment Advisor. The Board retains the services of Public Trust Advisors, LLC (PTA), located in Denver. PTA serves as the Administrator and Investment Advisor for COLOTRUST.
Q: How can you participate in COLOTRUST?
A: Enrolling in COLOTRUST is simple. Any county, city, town, school district, special district or other political subdivision of the State of Colorado, or department, agency, or instrumentality thereof, or any political or public corporation of the State of Colorado may join COLOTRUST as a Participant and take advantage of COLOTRUST's investment program. After reading the Trust Indenture and Information Statement, follow these steps: 1) Each local government must adopt, execute and provide to COLOTRUST a certified copy of a resolution adopting the Indenture and naming a Designee to participate in COLOTRUST. A sample Model Resolution is available on the Document Center at www.colotrust.com . 2) Send the resolution, together with a completed Trust Registration Form, also available on the Document Center, to COLOTRUST Client Services at email@example.com or via mail to COLOTRUST, 717 17th Street, Suite 1850, Denver, CO 80202. 3) As soon as these documents have been received and approved, you will receive a welcome call confirming that you have been accepted as a COLOTRUST Participant.
Q: What are COLOTRUST’s objectives?
A: COLOTRUST’s primary investment objective is the safety of public funds. This philosophy has made it the largest and most trusted local government investment pool in Colorado since its inception. Our conservative investment policies and emphasis on safety have helped us earn a 'AAAm' rating by Standard and Poor’s Ratings Agency on both the PRIME and PLUS+ portfolios. Additionally, the custodian for all COLOTRUST cash and securities is the Trust Department of Wells Fargo Bank in Denver.
Q: What is the minimum requirement for investing in COLOTRUST?
A: There is no minimum investment amount for COLOTRUST.
Q: What transaction fees does COLOTRUST charge?
A: COLOTRUST does not charge any transaction fees.
Q: What are the limits on the number of transactions?
A: COLOTRUST does not limit the number of transactions.
Q: Does COLOTRUST limit the number of subaccounts?
A: COLOTRUST does not limit the number of subaccounts.
Q: What are COLOTRUST's business hours?
A: The COLOTRUST offices are open Monday thru Friday from 7:30 a.m. until 4:00 p.m. MST. Please consult the News and Notices page at www.colotrust.com for COLOTRUST office closures.
Q: What are the daily time cut-offs for transactions?
A: Transactions (Withdrawals, Contributions, Transfers) conducted by MYACCESS, telephone, or fax, need to be concluded by 11:00 A.M MST 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 11:00 a.m. MST 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 11:00 a.m. MST (24 hours in advance).
Q: What are the fees associated with Wires and ACHs?
A: COLOTRUST 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 COLOTRUST Client Services with the appropriate account information.
Q: How do I add or remove bank instructions on our COLOTRUST account?
A: Please fill out the Depository Bank Amendment Form which is available in the Document Center at www.colotrust.com as well as in the forms section within MYACCESS.
Q: How do I update those individuals who are authorized on our COLOTRUST account?
A: Please fill out the Authorized Signatory Amendment Form which is available in the Document Center at www.colotrust.com 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 COLOTRUST Client Services at (877) 311-0219 or via email at firstname.lastname@example.org.
Q: When are the COLOTRUST monthly statements delivered?
A: COLOTRUST monthly statements are emailed to Participants on the second business day of the month.
Q: What are the definitions of a Designee, Alternate Designee and Authorized Signatory?
A: The Designee is the legal representative that acts for and on behalf of each Participant. For example, a key function of the Designee is to vote annually for the COLOTRUST Board of Trustees. The Alternative Designee(s) are the representatives that act on behalf of each Participant, in the absence of the Designee. Authorized Signatories are the individuals on an account who are authorized to manage the Participants investments.
Q: Does COLOTRUST have a policy against providing a copy of the daily investment holdings report?
A: COLOTRUST does not have such a policy. If a Participant requests a copy of the investment holdings report we will provide a copy. The investment holdings report shows the investment positions for that day.
Q: What is COLOTRUST’s MYACCESS?
A: MYACCESS is a secure, internet based transaction system that allows registered COLOTRUST Participants to self-manage their COLOTRUST investments. MYACCESS is available 24/7, 365 days a year.
Q: How does a COLOTRUST Participant receive a login for MYACCESS?
A: In order to obtain a MYACCESS registration and instructions, COLOTRUST Participants should call Client Services at (877) 311-0219 or email us at email@example.com .
Q: What functions can MYACCESS perform?
A: COLOTRUST’s MYACCESS allows Participants to make contributions, withdrawals and transfers between subaccounts as well as to other approved COLOTRUST 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.