Common use of Services as Fund Accountant Clause in Contracts

Services as Fund Accountant. BISYS Ohio will keep and maintain the following books and records of each Fund pursuant to Rule 31a-1 (the "Rule") under the Investment Company Act of 1940 (the "1940 Act"): (a) Journals containing an itemized daily record in detail of all purchases and sales of securities, all receipts and disbursements of cash and all other debits and credits, as required by subsection (b)(1) of the Rule; (b) General and auxiliary ledgers reflecting all asset, liability, reserve, capital, income and expense accounts, including interest accrued and interest received, as required by subsection (b)(2)(i) of the Rule; (c) Separate ledger accounts required by subsection (b)(2)(ii) and (iii) of the Rule; and (d) A monthly trial balance of all ledger accounts (except shareholder accounts) as required by subsection (b)(8) of the Rule. In addition to the maintenance of the books and records specified above, BISYS Ohio shall perform the following accounting services daily for each Fund: (a) Calculate the net asset value per share; (b) Calculate the dividend and capital gain distribution, if any; (c) Determine each Fund's net income; (d) Reconcile cash movements with the Funds' custodian; (e) Obtain security market quotes from independent pricing services or, if such quotes are unavailable, obtain such prices from the Funds' investment adviser, and in either case calculate the market value of each Fund's investments; (f) Verify and reconcile with the Funds' custodian all daily trade activity; (g) Compute each Fund's income and capital gains, dividend payables, dividend factors, 7-day yields, 7-day effective yields and 30-day yields, and weighted average portfolio maturity; (h) Review daily the calculation of the net asset value and dividend factor (if any) of each Fund prior to release to shareholders, check and confirm the net asset values and dividend factors for reasonableness and deviations and distribute net asset values and yields to NASDAQ; (i) Determine monthly outstanding receivables and payables for security trades; (j) Determine monthly outstanding receivables and payables for Fund share transactions; (k) Report to the Trust the daily market pricing of securities in any money market Funds, with the comparison to the amortized cost basis; (l) Determine unrealized appreciation on securities held in variable net asset value Funds; (m) Amortize premiums and accrete discounts on securities purchased at a price other than face value, if applicable; (n) Update the fund accounting system to reflect rate changes, as received from the Funds' investment adviser, on variable interest rate instruments; (o) Record income collected as reported to BISYS Ohio by the Funds' custodian; (p) Post Fund income and expense transactions to appropriate categories; (q) Accrue for expense of each Fund according to the instructions from the Trust; (r) Determine monthly the outstanding receivables and payables for all income and expense accounts; (s) Provide accounting reports in connection with the Trust's regular annual audit and other audits and examinations by regulatory agencies; (t) Provide the following reports: Account Valuation Balances; Amortization/Accretion by State; Broker Commissions Paid on Portfolio Transactions; Broker Volumes; Cash Disbursements Journal; Cash Receipts Journal; Current Cash Report; Earned Amortization/Accretion; Earned Income; Expense Summary; General Ledger Trial Balance; Investment Income Detail; Investment Income Summary; Investment Restrictions Reports; Maturity Schedule; Options - Closed Positions; Options - Open Positions; Pricing Exception Report; Portfolio Transactions with Entities Acting as Principals; Portfolio Turnover; Purchase Journal; Sales Journal; Schedule of Investments; BISYS Ohio may provide additional special reports upon the request of the Trust or the Funds' investment adviser(s), which may result in an additional charge the amount of which shall be agreed upon between the parties; and (u) Provide such other similar services with respect to a Fund as may be reasonably requested by the Trust, which may result in an additional charge the amount of which shall be agreed upon between the parties.