Item 1. | Schedule of Investments. |
Macquarie Global Infrastructure Total Return Fund
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Schedule of Investments
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FEBRUARY 28, 2015 (Unaudited)
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(Expressed in U.S. Dollars)
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Description
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Shares
|
Value $
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||||||
COMMON STOCKS - 125.55%
|
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Australia - 9.06%
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||||||||
DUET Group
|
2,096,133
|
$
|
4,160,314
|
|||||
Transurban Group(1)
|
3,949,409
|
28,237,530
|
||||||
32,397,844
|
||||||||
Brazil - 0.97%
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||||||||
EDP Energias do Brasil SA(1)
|
749,300
|
2,378,228
|
||||||
Prumo Logistica SA(1)(2)
|
10,330,195
|
1,091,698
|
||||||
3,469,926
|
||||||||
Canada - 9.76%
|
||||||||
Enbridge, Inc.(1)
|
511,095
|
23,766,060
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TransCanada Corp.
|
254,103
|
11,136,952
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||||||
34,903,012
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China - 10.08%
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China Longyuan Power Group Corp., Ltd.
|
3,383,000
|
3,629,098
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||||||
China Merchants Holdings International Co., Ltd.
|
4,602,012
|
17,504,236
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COSCO Pacific, Ltd.
|
3,915,433
|
5,644,104
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ENN Energy Holdings, Ltd.
|
424,000
|
2,249,620
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Hopewell Highway Infrastructure, Ltd.
|
6,992,000
|
3,380,696
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Huadian Fuxin Energy Corp., Ltd.
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7,674,000
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3,660,976
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36,068,730
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France - 17.33%
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Eiffage SA
|
149,994
|
8,358,131
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Electricite de France SA
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234,442
|
6,480,103
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GDF Suez
|
843,522
|
18,760,876
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Groupe Eurotunnel SE(1)
|
1,270,743
|
17,377,147
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Vinci SA
|
186,027
|
11,037,361
|
||||||
62,013,618
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Germany - 4.66%
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Fraport AG Frankfurt Airport Services Worldwide(1)
|
156,389
|
9,443,385
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Hamburger Hafen und Logistik AG
|
325,729
|
7,228,175
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16,671,560
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Italy - 6.45%
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Atlantia SpA(1)
|
876,587
|
23,091,441
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Japan - 4.02%
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East Japan Railway Co.
|
73,800
|
6,190,871
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Tokyo Gas Co., Ltd.(1)
|
1,346,473
|
8,196,461
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||||||
14,387,332
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Luxembourg - 0.97%
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Intelsat SA(2)
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281,918
|
3,487,326
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Mexico - 1.48%
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OHL Mexico SAB de CV(2)
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2,565,000
|
5,307,845
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Netherlands - 0.70%
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Koninklijke Vopak NV(1)
|
47,721
|
2,509,903
|
Description
|
Shares
|
Value $
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New Zealand - 1.71%
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||||||||
Auckland International Airport, Ltd.
|
1,854,531
|
$
|
6,102,037
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Singapore - 3.07%
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Hutchison Port Holdings Trust(1)
|
15,803,700
|
10,983,571
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Spain - 3.29%
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Abertis Infraestructuras SA(1)
|
481,728
|
9,406,907
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EDP Renovaveis SA
|
340,000
|
2,354,773
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||||||
11,761,680
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Switzerland - 2.86%
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Flughafen Zuerich AG(1)
|
14,273
|
10,217,992
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United Kingdom - 8.39%
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Centrica Plc(1)
|
2,075,644
|
7,828,556
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National Grid Plc
|
1,621,589
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22,195,955
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30,024,511
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United States - 40.75%
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American Electric Power Co., Inc.(1)
|
166,200
|
9,569,796
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American Tower Corp.(1)
|
49,200
|
4,877,688
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American Water Works Co., Inc.(1)
|
162,000
|
8,760,960
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CMS Energy Corp.(1)
|
85,700
|
3,010,641
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Corrections Corp. of America(1)
|
129,757
|
5,176,006
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Crown Castle International Corp.(1)
|
156,490
|
13,506,652
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Dominion Resources, Inc.
|
67,900
|
4,894,911
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Duke Energy Corp.(1)
|
139,400
|
10,949,870
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Edison International
|
77,900
|
5,005,075
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ITC Holdings Corp.(1)
|
129,360
|
5,010,113
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Kinder Morgan, Inc.
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169,600
|
6,955,296
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NiSource, Inc.(1)
|
278,800
|
11,963,308
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PG&E Corp.(1)
|
97,800
|
5,254,794
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Sempra Energy(1)
|
222,100
|
24,031,220
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Spectra Energy Corp.(1)
|
217,700
|
7,726,173
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The Williams Cos., Inc.(1)
|
389,300
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19,091,272
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145,783,775
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Total Common Stocks
|
449,182,103
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|||||||
(Cost $435,974,098)
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MASTER LIMITED PARTNERSHIPS - 6.95%
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United States - 6.95%
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Buckeye Partners LP(1)
|
79,900
|
6,211,426
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Energy Transfer Equity LP(1)
|
95,740
|
6,114,914
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Enterprise Products Partners LP(1)
|
157,356
|
5,246,249
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Magellan Midstream Partners LP(1)
|
88,734
|
7,293,935
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||||||
24,866,524
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Total Master Limited Partnerships
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24,866,524
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(Cost $16,249,982)
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Total Investments - 132.50%
|
474,048,627
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|||||||
(Cost $452,224,080)
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Other Assets in Excess of Liabilities - 3.60%
|
12,888,820
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Leverage Facility - (36.10)%(3)
|
(129,166,755
|
)
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Total Net Assets - 100.00%
|
$
|
357,770,692
|
(1)
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All or a portion of the security is available to serve as collateral on the outstanding leverage. The aggregate market value of the collateralized securities totals $302,128,737 as of February 28, 2015.
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(2)
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Non-Income Producing Security.
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(3)
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Leverage facility expressed as a percentage of net assets. However, leverage limitations are calculated based on Total Assets as defined in the Fund's Prospectus. (Note 4)
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Common Abbreviations:
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|
AG
|
Aktiengesellschaft is a German term that refers to a corporation that is limited by shares, i.e., owned by shareholders.
|
Co.
|
Company.
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Corp.
|
Corporation.
|
Inc.
|
Incorporated.
|
LP
|
Limited Partnership.
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Ltd.
|
Limited.
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NV
|
Naamloze Vennootchap is the Dutch term for a public limited liability corporation.
|
Plc
|
Public Limited Company.
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SA
|
Generally designates corporations in various countries, mostly those employing the civil law.
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SAB de CV
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Sociedad Anonima Bursatil de Capital Variable is a Spanish Variable Capital Company.
|
SpA
|
Societeta' Per Azioni is an Italian shared company.
|
See Notes to Quarterly Schedule of Investments.
|
|
|
Valuation Inputs
|
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Investments in Securities at Value
|
Level 1
|
Level 2
|
Level 3
|
Total
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Common Stocks*
|
$
|
449,182,103
|
$
|
–
|
$
|
–
|
$
|
449,182,103
|
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Master Limited Partnerships*
|
24,866,524
|
–
|
–
|
24,866,524
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||||||||||||
Total
|
$
|
474,048,627
|
$
|
–
|
$
|
–
|
$
|
474,048,627
|
Gross appreciation (excess of value over tax cost)
|
$
|
64,321,912
|
||
Gross depreciation (excess of tax cost over value)
|
(39,476,179
|
)
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||
Net unrealized appreciation
|
$
|
24,845,733
|
||
Cost of investments for income tax purposes
|
$
|
449,202,894
|
Item 2. | Controls and Procedures. |
(a) | The registrant’s principal executive officer and principal financial officer have evaluated the registrant’s disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) within 90 days of this filing and have concluded that the registrant’s disclosure controls and procedures were effective, as of that date. |
(b) | There was no change in the registrant’s internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) during registrant’s last fiscal quarter that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting. |
Item 3. | Exhibits. |
By:
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/s/ Brad Frishberg
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|
Brad Frishberg
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||
Chief Executive Officer/
Principal Executive Officer
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Date:
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April 28, 2015
|
By:
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/s/ Brad Frishberg
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||
Brad Frishberg
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President, Chief Executive Officer/
Principal Executive Officer
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Date:
|
April 28, 2015
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||
By:
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/s/ Meredith Meyer
|
||
Meredith Meyer
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Treasurer, Chief Financial Officer/
Principal Financial Officer
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Date:
|
April 28, 2015
|
1. | I have reviewed this report on Form N-Q of Macquarie Global Infrastructure Total Return Fund Inc. (the “registrant”); |
2. | Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report; |
3. | Based on my knowledge, the schedule of investments included in this report fairly presents in all material respects the investments of the registrant as of the end of the fiscal quarter for which the report is filed; |
4. | The registrant’s other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the registrant and have: |
a. | Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared; |
b. | Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles; |
c. | Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report based on such evaluation; and |
d. | Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and |
5. | The registrant’s other certifying officer and I have disclosed to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions): |
a. | All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize, and report financial information; and |
b. | Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting. |
By:
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/s/ Brad Frishberg
|
|
Brad Frishberg
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||
President, Chief Executive Officer/Principal Executive Officer
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||
Date:
|
April 28, 2015
|
1. | I have reviewed this report on Form N-Q of Macquarie Global Infrastructure Total Return Fund Inc. (the “registrant”); |
2. | Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report; |
3. | Based on my knowledge, the schedule of investments included in this report fairly presents in all material respects the investments of the registrant as of the end of the fiscal quarter for which the report is filed; |
4. | The registrant’s other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the registrant and have: |
a. | Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared; |
b. | Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles; |
c. | Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report based on such evaluation; and |
d. | Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and |
5. | The registrant’s other certifying officer and I have disclosed to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions): |
a. | All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize, and report financial information; and |
b. | Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting. |
By:
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/s/ Meredith Meyer
|
|
Meredith Meyer
|
||
Treasurer, Chief Financial Officer/
|
||
Principal Financial Officer
|
||
Date:
|
April 28, 2015
|