PPT-Welcome to Trustee Financial Management

Training Friday April 9 2017 SABO Student Activities Business Office What is SABO WHO Storrs TrusteeTier III Organizations Regional Trustee Organizations Storrs Tier II Organizations. Introduction. Basic Idea. . Settlor. . Legal Equitable. Interest Interest. . Trustee Beneficiary. Introduction. Basic Idea. . Settlor. . Legal Equitable. Interest Interest. . Trustee Beneficiary. 1. Money Damages (trustee not in breach) -- § 114.001. Any profit through or arising out of the administration of the trust.. Exception for trustee’s compensation. 1. Money Damages (trustee in breach) -- § 114.001. Sources of Trustee’s Powers. 1. Trust Instrument. Sources of Trustee’s Powers. 2. Trust Code. §§ 113.001-113.029. Sources of Trustee’s Powers. 3. Granted by Equity (Implied Powers). § 113.002 – “necessary or appropriate”. Trust Property. 1. Tracing. Goal = recover actual trust property from trustee or non-BFP.. Double recovery (money and property) not allowed.. What is the key benefit of the tracing remedy?. Tracing into Commingled Account. W. Tyler Michael, CPA. Assistant Director of Audit Services. Contact Information. W. Tyler Michael. wmichael@sboa.in.gov. (317) 232-2512. Ryan Preston. rpreston@sboa.in.gov. (317. ) . 232-2512. SBOA Resources. Sources of Trustee’s Powers. 1. Trust Instrument. Sources of Trustee’s Powers. 2. Trust Code. §§ 113.001-113.029. Sources of Trustee’s Powers. 3. Granted by Equity (Implied Powers). § 113.002 – “necessary or appropriate”. 1. Money Damages (trustee not in breach) -- § 114.001. Any profit through or arising out of the administration of the trust.. Exception for trustee’s compensation. 1. Money Damages (trustee in breach) -- § 114.001. Standing to enforce. Must be “interested person”. Beneficiary. Trustee. Attorney general (charitable trusts). Others affected by the trust?. Necessary Parties. Must determine under state law the parties who MUST be involved with the lawsuit.. Session Agenda . The Academy Environment. Academies Financial Handbook Overview. Local Governance Tips. Pam Tuckett, Partner. ptuckett@bishopfleming.co.uk. @. Pam_tuckett. The Academy . Environment. The Morning After…and the Next 30 Years. John Deleray, Wilmington Trust. Anne Pelej, Willdan Financial Services. Julia Cooper, City of San Jose. The Trustee’s Perspective. The Morning After…and the. Clause. © Charles Tabb 2010. What is “avoidance”?. Set aside, invalidate. A transfer by or obligation of Dr. Based on one of the powers given trustee in 544-549. Effects: Avoid outright transfer. Welcome to Trustee Financial Management Training Sunday, April 7, 2019 Trustee Student Organization Financial Programs, Services and Initiatives TSOS Financial vs. SABS TSOS SU309 Student Activities FINANCIAL MANAGEMENT. Koos Du Toit CA (Nam) CA (SA). Financial Director Paramount Healthcare. FINANCIAL MANAGEMENT - AGENDA. Reading and interpretation of management accounts.. Key financial indicators to be considered by trustees..