Charge Inspector - Initial Charge

The Initial Charge tab illustrates the source of the rate that is applied to the basis which results in a preliminary amount. 

The Charges Overview summarizes the assets and their charges contributing to the initial amount.

The Asset Impact section specifies assets, their rate classes, basis, calculated rates, and initial charges.

The Full Distribution / Fixed Rates section illustrates the source of the rates for each rate class. The rates are calculated from the entirety of all accounts within one coverage.

Definitions for terms specified under Asset Impact and Full Distribution / Fixed Rates:

1. A Rate Class is a set of assets that share one specified rate.

2. The Basis is a specific asset quantity (count, dollar amount, or other ratable) within a coverage for a particular account. 

3. The Rate determines the initial charge and varies by rate class.  For full distribution programs, this is the basis percentage multiplied by the target per rate class. For fixed rate programs, it is a dollar amount.

4. Full Distribution / Fixed Rates - This section illustrates the source of the rates for each rate class. The rates are calculated from the entirety of all accounts within one coverage. Either full distribution rates or fixed rates will be shown depending on the program type.

5. The Coverage Basis is the value of assets across all accounts under the same coverage.

6. The Weighting Rate is a multiplier for the basis and is specified by the user. It is only used for full distribution program types.  A higher weighted rate would likely be assigned to assets with a higher level of risk.  

7. The Weighted Basis is the weighting rate multiplied by the basis.

8. The Basis % is the percentage of the total weighted basis of all rate classes.  These percentages are itemized by rate class.  

9. The Target is the sum of cost component target amounts designated to a specific coverage and rate class. This does not include shared amounts.