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Frequently Asked Questions


 

Can I fill out the account registration form online? 

How do I send the funds to CAMP for the initial investment? 

How do I withdraw from my account with CAMP? 

How can I check my account balance? 

Can I obtain account information online? 

What are my options for transferring funds electronically? 

How do we change our wire instructions or authorized representatives for an account?  

How do I invest the proceeds of a bond issue with CAMP? 

What is arbitrage? 

What are the arbitrage spending requirements for the 6, 18, and 24 month exceptions? 

 

For additional information, please review CAMP’s Program Guide or contact a Program Representative  at (800) 729-7665.

 

Q. Can I fill out the account registration form online? 

A: Yes, you can complete the Account Application online. However, you must print the form for signature by the appropriate individuals. Completed forms can be sent to CAMP either by fax (415) 982-4513 or mail at 50 California Street, Suite 2300, San Francisco, CA 94111.

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Q. How do I send the funds to CAMP for the initial investment? 

A: Before wiring funds, you must first complete all necessary documentation to open a CAMP account. See Open an Account on this website. After you have been notified that the account is opened, please contact CAMP at (800) 729-7665 with the amount to be invested and the name of the bank sending the funds. Funds should be wired to CAMP before 11 a.m. Pacific Time. Detail instructions on funds transfers can be found in the CAMP Program Guide.

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Q: How do I withdraw from my account with CAMP? 

A: Investors/Participants may withdraw funds from their accounts by either (i) initiating a requisition for a wire transfer or ACH transfer online, (ii) telephoning CAMP at (800) 729-7665, or (iii) writing a check to a third party (if you have a CAMP checking account). Detailed instructions on funds transfers can be found in the CAMP Program Guide.

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  Q. How can I check my account balance? 

 

A. View your account information online or contact a Program representative at (800) 729-7665.

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Q. Can I obtain account information online? 

A. Account information is available through the Account Access on this website. If you are a first time user, please submit the Contact Record and Permissions forms. Once received by the Program, please allow two business days for setup.

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Q. What are my options for transferring funds electronically?  

A: There are two options for electronic funds transfer available to CAMP Investors/Participants:

Same Day Wire Transfer – Funds can be transferred by wire to or from a CAMP account. For incoming transfers, you must (1) initiate the transaction on the Internet at www.camponline.com or by calling CAMP at (800) 729-7665, and (2) instruct your financial institution to send the funds to CAMP. For outgoing transfers, Investors/Participants may request a wire transfer of funds on the Internet at www.camponline.com or by calling PFMAM (800) 729-7665. Transfer requests received prior to 11:00 a.m. Pacific Time will be processed that same day. CAMP has no service charge or fee for this service.

Next Day Transfer – Next Day Transfer utilizes the Federal Reserve’s Automated Clearing House (ACH) system to transfer funds to/from your CAMP account. Funds are transferred overnight and are available in the designated account the next business day. Investors/Participants may request an ACH transfer of funds on the Internet at www.camponline.com or by calling CAMP at (800) 729-7665. The Next Day Transfer Form must be completed in advance of the initial transfer and takes approximately ten (10) business days to process.

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Q. How do we change our wire instructions or authorized representatives for an account? 

A: You will need to provide written notification of the change signed by an authorized individual. The notification must be on your agency’s stationary. The notification should be sent to CAMP either by fax (415) 982-4513 or by mail to California Asset Management Program at 50 California Street, Suite 2300, San Francisco, CA 94111. Please note that this is an update and will amend our current instructions on file for your agency.

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  Q: How do I invest the proceeds of a bond issue with CAMP? 

  

A: Contact a Program Representative. CAMP must be listed as a permitted investment in the bond documents. Before closing date, return completed account registration forms with bond documents (Official Statement, Non-Arbitrage Certificate, Closing Memorandum, Trust Indenture, Resolution) via mail or by email to camp@pfm.com. Notify CAMP before 11 a.m. Pacific Time of the amount of money that is going to be wired.

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Q. What is arbitrage? 

A: Arbitrage is the profit from investing the proceeds from the issuance of tax-exempt debt financing in higher yielding taxable securities. These excess earnings must be rebated to the federal government unless certain requirements are met. For further information on arbitrage, see the Arbitrage Primer available in Investor/Participant Resources.

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Q. What are the arbitrage spending requirements for the 6, 18, and 24 month exceptions? 

A: The regulations provide for certain exceptions related to the size of the issue and period of time over which the proceeds are spent. The exceptions are described below.

Small Issuer Exception. This exception applies to municipalities with general taxing powers that issue $5 million or less of tax-exempt debt during a calendar year. Beginning in 1998, it also applies to schools with general taxing powers that issue $10 million or less of tax-exempt debt during a calendar year, provided $5 million or less is spent for purposes other than constructing or renovating public school facilities. Certain additional requirements apply in the case of refunding bonds.
 

6-Month Exception. To qualify for exemption from the rebate requirements, all gross proceeds and investment earnings must be spent within 6 months of the issue date.
 

18-Month Exception. To qualify for the 18-month exception requires that all proceeds and investment earnings must be spent as follows:

  • 15% within 6 months of the issue date
  • 60% within 12 months of the issue date
  • 100% (less "reasonable retainage") within 18 months of the issue date.

24-Month Exception. To qualify for the 24-month exception applies only to construction issues, and requires that all Available Construction Proceeds be spent as follows:

  • 10% within 6 months of issue date
  • 45% within 12 months of issue date
  • 75% within 18 months of issue date
  • 100% (less "reasonable retainage") within 24 months of issue date.

For additional information, see the Arbitrage Primer under Investor/Participant Resources on this website, or contact your bond counsel.

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 For additional information, please review CAMP’s Program Guide or contact a Program Representative at (800) 729-7665.

 


  

This information is for institutional investor use only, not for further distribution to retail investors, and does not represent an offer to sell or a solicitation of an offer to buy or sell any fund or other security. Investors should consider the Trust’s investment objectives, risks, charges and expenses before investing in the Trust. This and other information about the Trust is available in the Trust’s current Information Statement, which should be read carefully before investing. A copy of the Trust’s Information Statement may be obtained by calling 1-800-729-7665 oris available on the Trust’s website at www.camponline.com. While the Trust seeks to maintain a stable net asset value of $1.00 per share, it is possible to lose money investing in the Trust. An investment in the Trust is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. Shares of the Trust are distributed by PFM Fund Distributors, Inc., member Financial Industry Regulatory Authority (FINRA) (www.finra.org) and Securities Investor Protection Corporation (SIPC) (www.sipc.org). PFM Fund Distributors, Inc. is a wholly owned subsidiary of PFM Asset Management LLC. 

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