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Corporate Cash Management

Our firm seeks to identify taxable and tax free solutions on either a discretionary or non-discretionary basis for investments of cash management throughout the entire banking industry. The program searches for the best quality rated short –term Cash Management Instruments that tend to offer maximum liquidity for the highest risk reward yield to maturity. Some of the cash management financial instruments include the followings: Institutional Tax Free and Taxable Money Market Funds, Treasury Notes, High Grade Commercial Paper, FDIC insured Certificate of Deposits, and short term, high grade Tax Free Municipal Bonds that are exempt from Federal and/or Federal and State Taxes. These Tax Free instruments include tax free Pre-refunded municipal Bonds that are also 100% escrowed to maturity with U.S Treasury Bonds. Our Firm emphasizes continuous and regular account supervision, researching, and monitoring. The due diligence process of selecting cash management financial instruments include but is not limited to the followings: 1) daily, in depth, independent qualitative and quantitative research of debt instruments regardless of size and ratings, 2) Comparisons of all In-house research findings stacked against both the rating agencies’ opinion, and the street research reports, and 3) professional Bid/Offer execution of bond trades, across all Fixed Income Desks on Wall Street. It is our firm’s motto to fight on behalf of its clients for best in class executions for all Cash Management products and/or short term Fixed Income instruments. In order to accomplish this optimal Bid/Offer pricing principal, our firm first establishes multiple relationships with Cash Management and Fixed Income desks around the country. Second, all Cash Management offerings are shopped for best yields to maturity, and all bond purchase Offerings are Bid on. Last, when necessary, all bond sell Offerings are put out for a Bid from at least three bond desks on Wall Street. This process ensures best in class trade executions; and therefore, substantially improves Bid/Offer pricings for the firm’s clients. In many cases, and at odds with Wall Street practices, this Bid/Offer execution platform is duplicated for short term odd lot bond offerings where there is not enough liquidity; thereby, allowing our firm to Bid on Bond Offerings at even deeper discounts then is warranted in a typical market place. Worthy of mention is the fact that independently of with which financial institution Cash Management Instruments are purchased or on which bond desk a short term Fixed Income transaction took place, all Cash Page 2 Contents © Copyright 2010 by The Law Offices of Patrick J. Burns, Jr., P.C. All rights reserved. Management trades either settle with our firm’s preferred custodian; Schwab Institutional or maintained at a newly established custodian but still reported on the client’s Consolidated Quarterly Performance Reports. The Cash Management process ends with periodic Ongoing Reviews. This process includes the followings: 1) Review of the entire client’s Cash Management portfolio benchmarked each quarter against its respective Short-Term Fixed Income Indexes, 2) Recalibrate each client’s asset allocation model of cash and/or short-term fixed income instruments as his or her life circumstances change, and 3) Present consolidated reporting that incorporates the portfolios of the Cash Management with the entire holdings of the clients’ other investments disciplines.

As mentioned above, our firm will emphasize continuous and regular account supervision to exercise discretion in investing in tax-free and taxable money market funds for individual, corporate and institutional accounts in accordance with the client written investment guidelines detailing conditions, restrictions and limitations as set by the client’s investment policy statement. Our firm in exercising such discretion shall have client’s authority to make purchases, sales, exchanges, investments and reinvestments that are deemed necessary in performing such discretion.

Once the appropriate portfolio has been determined, our firm will review the portfolio at least monthly and if necessary, rebalance, replace, substitute, add to, remove, reduce and/or adjust the asset allocation model of the clients’ cash management portfolio based upon the client’s individual needs, stated goals and objectives.

Management of our firm’s Corporate Cash Program can be performed on a dual platform: Discretionary and Non-Discretionary fee basis.