R357-7-8. Criteria and Procedures for Assessing the Likelihood of Future Certificate Redemption

  (1) Each year, the Corporation and/or the allocation manager designated in accordance with U.C.A. Section 63N-6-301(2)(b) will provide the Board with a comprehensive report including the following:

  (a) A detailed accounting of cash outflows and cash inflows from investments made by each Utah Fund of Funds during the previous Calendar Year.

  (b) A detailed accounting of payments made to lenders to or equity investors in each Utah Fund of Funds during the previous Calendar Year.

  (c) A detailed accounting of management fees paid to the Corporation by each Utah Fund of Funds during the previous Calendar Year.

  (d) A detailed accounting of increases or decreases in unrealized value of the assets of each Utah Fund of Funds during the Previous Calendar Year.

  (e) A five year projection of cash flows with sensitivity around investment returns, interest rates and distribution pacing for each Utah Fund of Funds.

  (f) Third party audit of each Utah Fund of Funds including asset valuation as of the end of the previous Calendar Year.

  (g) The internal rate of return on each investment made by each Utah Fund of Funds through the end of the previous Calendar Year.