Attach to Form 990 or 990-EZ.
Information about Schedule O (Form 990 or 990-EZ) and its instructions is at| Return Reference | Explanation |
|---|---|
| FORM 990 - PART IV - LINE 32 AND FORM 990 - SCHEDULE N - PART II: | ON JUNE 30, 2015, THE TRUSTEES VOTED TO TERMINATE THE PLAN EFFECTIVE AUGUST 1, 2015. THE ORGANIZATION IS STILL IN THE PROCESS OF WINDING UP ITS AFFAIRS AS OF THE END OF THE TAX YEAR, BUT HAS NOT COMPLETELY LIQUIDATED ALL ASSETS. BENEFIT PAYMENTS TO PARTICIPANTS AND ADMINISTRATIVE EXPENSES TO SERVICE PROVIDERS TO WIND UP THE PLAN AND TO LIQUIDATE ALL REMAINING ASSETS OF THE PLAN ARE BEING ADMINISTERED BY THE TRUSTEES OF THE PLAN IN ACCORDANCE WITH PLAN DOCUMENTS. FOR THE YEAR ENDED FEBRUARY 29, 2016, THE ACCOUNTS REPORTED ON FORM 990 ARE PRESENTED ON THE LIQUIDATION BASIS OF ACCOUNTING. UNDER THIS BASIS OF ACCOUNTING, ASSETS ARE VALUED AT THEIR ESTIMATED REALIZABLE VALUES AND LIABILITIES ARE VALUED AT THE AMOUNT OF CASH EXPECTED TO BE PAID. |
| FORM 990, PART VI, SECTION A, LINE 3 | THE ORGANIZATION ENGAGES A THIRD PARTY ADMINISTRATOR TO HANDLE THE DAY TO DAY OPERATIONS. THE THIRD PARTY ADMINISTRATOR IS PRIMARILY RESPONSIBLE FOR PAYING HEALTH CLAIM BENEFITS, COLLECTING EMPLOYER CONTRIBUTIONS, PAYING EXPENSES AND HANDLING ALL OTHER ORGANIZATION MATTERS. THE THIRD PARTY ADMINISTRATOR REPORTS TO THE TRUSTEES AT REGULAR BOARD MEETINGS AND IS UNDER THE DIRECT SUPERVISION OF THE TRUSTEES. |
| FORM 990, PART VI, SECTION B, LINE 11 | THE THIRD PARTY ADMINISTRATOR IS RESPONSIBLE FOR THE REVIEW AND FILING OF FORM 990. A COPY OF THE FINAL FORM 990 IS PROVIDED TO THE TRUSTEES OF THE FUND. |
| FORM 990, PART VI, SECTION B, LINE 12C | TRUSTEES ARE EXPECTED TO PERFORM THEIR DUTIES CONSCIENTIOUSLY, HONESTLY AND IN ACCORDANCE WITH THE BEST INTEREST OF THE FUND. TRUSTEES MUST NOT USE THEIR POSITION OR KNOWLEDGE GAINED AS A RESULT OF THEIR POSITION FOR PRIVATE OR PERSONAL ADVANTAGE. REGARDLESS OF THE CIRCUMSTANCES, IF A TRUSTEE SUSPECTS THAT A COURSE OF CONDUCT HE/SHE HAS PURSUED, IS PRESENTLY PURSUING OF IF CONTEMPLATED PURSUING MAY INVOLVE THE TRUSTEE IN A CONFLICT OF INTEREST WITH THE FUND, THE TRUSTEE MUST IMMEDIATELY COMMUNICATE ALL THE FACTS TO THE OTHER TRUSTEES AND FUND COUNSEL. |
| FORM 990, PART VI, SECTION C, LINE 19 | THE ORGANIZATION MAKES ITS FORM 990, FORM 5500 (WHICH INCLUDES AUDITED FINANCIAL STATEMENTS) AND SUMMARY ANNUAL REPORT AVAILABLE FOR INSPECTION UPON REQUEST. OTHER GOVERNING DOCUMENTS, INCLUDING THE CONFLICT OF INTEREST POLICY AND DOCUMENT RETENTION AND DESTRUCTION POLICY ARE NOT MADE AVAILABLE TO THE PUBLIC. |
| FORM 990, PART XII, LINE 1: | ON JUNE 30, 2015, THE TRUSTEES VOTED TO TERMINATE THE PLAN EFFECTIVE AUGUST 1, 2015. IN ACCORDANCE WITH ACCOUNTING PRINCIPLES GENERALLY ACCEPTED IN THE UNITED STATES OF AMERICA, THE PLAN HAS CHANGED ITS BASIS OF ACCOUNTING FROM AN ONGOING PLAN BASIS USED IN PRESENTING THE FEBRUARY 28, 2015 FINANCIAL STATEMENTS TO THE LIQUIDATION BASIS USED IN PRESENTING THE FEBRUARY 29, 2016 FINANCIAL STATEMENTS. FOR THIS REASON, FOR THE YEAR ENDED FEBRUARY 29, 2016, THE ACCOUNTS ARE PRESENTED ON FORM 990 ON THE LIQUIDATION BASIS OF ACCOUNTING. UNDER THIS BASIS OF ACCOUNTING, ASSETS ARE VALUED AT THEIR ESTIMATED REALIZABLE VALUES AND LIABILITIES ARE VALUED AT THE AMOUNT OF CASH EXPECTED TO BE PAID. FOR THE YEAR ENDED FEBRUARY 28, 2015 THE ACCOUNTS WERE PRESENTED ON FORM 990 ON THE ACCRUAL BASIS OF ACCOUNTING. |
| FORM 990, PART XII, LINE 2C: | THE TRUSTEES SELECT THE INDEPENDENT AUDITORS. THE OVERSIGHT OF THE AUDIT IS PERFORMED BY THE THIRD PARTY ADMINISTRATOR. |
| FORM 990 - PART B - LINE F: | ON JULY 15, 2016 THE PRINCIPAL OFFICER OF THE PLAN (SCOTT ALEXANDER) WAS REPLACED BY TONY BARR. |
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