DNP » Topics » Pre-Approved Tax Services for Fiscal Year 2007

This excerpt taken from the DNP DEF 14A filed Mar 1, 2007.

Pre-Approved Tax Services for Fiscal Year 2007

Dated: February 20, 2007

  Service  
Range of Fees(1)
    The Fund Affiliates(2)
1.    Preparation of federal and state tax returns, including excise tax   (3) N/A
     returns, and review of required distributions to avoid excise tax      
2.    Consultations with the Fund’s management as to the tax treatment   (4) N/A
     of transactions or events      
3.    Tax advice and assistance regarding statutory, regulatory or   (4) N/A
     administrative developments      

________
(1)     

In addition to the fees shown in the table, the Audit Committee has pre-approved the reimbursement of the reasonable out-of-pocket expenses incurred by the independent accountant in providing the pre-approved services.

 
(2)

These affiliates include the Fund’s investment adviser (excluding sub-advisers) and any entity controlling, controlled by or under common control with the adviser that provides ongoing services to the Fund. The Fund’s Audit Committee must pre-approve non-audit services provided not only to the Fund but also to the adviser and such other affiliated entities, where such entities provide ongoing services to the Fund and the independent accountant’s services to such entities have a direct impact on the Fund’s operations or financial reporting.

 
(3)

The fee for this pre-approved service is not shown in the table because the 2007 engagement letter has not yet been finalized. The comparable fee for this service for the year ended December 31, 2006 was $13,500. When the fee is determined in connection with the finalization and signing of the 2007 engagement letter, such fee will become part of this Pre-Approval Policy.

 
(4)

Fees for services designated with a (4) shall either be included in the fee approved for item 1 of this Appendix C or may be separately charged, provided that the aggregate separate charges for all services designated with a (4) in this Appendix C may not exceed 10% of the fee approved for item 1 of this Appendix C.

 

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