0001145549-19-003094.txt : 20190212 0001145549-19-003094.hdr.sgml : 20190212 20190212141230 ACCESSION NUMBER: 0001145549-19-003094 CONFORMED SUBMISSION TYPE: N-CEN PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20181130 FILED AS OF DATE: 20190212 DATE AS OF CHANGE: 20190212 EFFECTIVENESS DATE: 20190212 FILER: COMPANY DATA: COMPANY CONFORMED NAME: OCM MUTUAL FUND CENTRAL INDEX KEY: 0000745338 IRS NUMBER: 226444024 FISCAL YEAR END: 1130 FILING VALUES: FORM TYPE: N-CEN SEC ACT: 1940 Act SEC FILE NUMBER: 811-04010 FILM NUMBER: 19589866 BUSINESS ADDRESS: STREET 1: 1299 OCEAN AVENUE STREET 2: SUITE 210 CITY: SANTA MONICA STATE: CA ZIP: 90401 BUSINESS PHONE: 414-299-2000 MAIL ADDRESS: STREET 1: C/O UMB FUND SERVICES, INC. STREET 2: 803 W. MICHIGAN STREET CITY: MILWAUKEE STATE: WI ZIP: 53233 FORMER COMPANY: FORMER CONFORMED NAME: PIA MUTUAL FUND DATE OF NAME CHANGE: 20030402 FORMER COMPANY: FORMER CONFORMED NAME: MONTEREY MUTUAL FUND DATE OF NAME CHANGE: 19970325 FORMER COMPANY: FORMER CONFORMED NAME: MONITREND MUTUAL FUND DATE OF NAME CHANGE: 19920703 N-CEN 1 primary_doc.xml X0101 N-CEN LIVE 0000745338 XXXXXXXX true false false N-1A true OCM MUTUAL FUND 811-04010 0000745338 549300AKSS68PWZOHM90 2600 Kitty Hawk Rd Suite 119 Livermore 94551 US-CA US 8007794681 UMB FUND SERVICES, INC. 235 WEST GALENA STREET MILWAUKEE 53212 4142992000 FUND ACCOUNTANT, ADMINISTRATOR, CUSTODIAN Orrell Capital Management, Inc. 2600 Kitty Hawk Rd., Suite 119 Livermore 94551 8007794681 ADVISOR Y N N N-1A 1 Y GREG ORRELL 001190768 Y DOUG WEBENBAUER N/A N PETER HAYMAN 001725683 N EMILE MOLINEAUX N/A 1010 B Street, Suite 301 San Rafael 94901 XXXXXX N N N N N N N N NORTHERN LIGHTS DISTRIBUTORS, LLC 8-65857 000126159 N/A N N TAIT, WELLER AND BAKER LLP 00445 N/A N N N N N N N OCM MUTUAL FUND S000005294 5493007254B8R9O2U456 Y 2 0 0 N/A Y N Y N N/A N/A N/A N/A Y Y Y N ORRELL CAPITAL MANAGEMENT, INC. 801-38997 000112487 N/A N UMB FUND SERVICES, INC. 084-05792 N/A N N N INTERCONTINENTAL EXCHANGE, INC. 5493000F4ZO33MV32P92 N N UMB BANK, NATIONAL ASSOCIATION VNOO6EITDJ2YUEBMSZ83 N N Bank - section 17(f)(1) (15 U.S.C. 80a-17(f)(1)) CITIGROUP PTY LTD N/A AU N Y Foreign custodian - rule 17f-5 (17 CFR 270.17f-5) CITIBANK CANADA N/A CA N Y Foreign custodian - rule 17f-5 (17 CFR 270.17f-5) EUROCLEAR N/A BE N Y Foreign custodian - rule 17f-5 (17 CFR 270.17f-5) DNB BANK ASA N/A NO N Y Foreign custodian - rule 17f-5 (17 CFR 270.17f-5) CITIBANK EUROPE PLC N/A SE N Y Foreign custodian - rule 17f-5 (17 CFR 270.17f-5) N UMB FUND SERVICES, INC. 084-05792 SEC File Number N N N UMB FUND SERVICES, INC. 084-05792 SEC File Number N N N DESJARDINS SECURITIES INTERNATIONAL, INC. 8-53256 000112417 549300B4CXC1UJNQTQ42 CA 10973.000000000000 PI FINANCIAL CORP N/A N/A N/A CA 4041.000000000000 RAYMOND JAMES AND ASSOCIATES, INC. 8-10999 000000705 U4ONQX15J3RO8XCKE979 2902.000000000000 COWEN AND COMPANY, LLC 8-22522 000007616 549300WR155U7DVMIW58 2978.000000000000 CANACCORD GENUITY CORP. 8-3271 000001020 WTX5X269IUOQ9YMI7R44 1136.000000000000 PERSHING LLC 8-17574 000007560 N/A 931.000000000000 WALL STREET ACCESS 8-25936 000010012 549300Z0MOT47D6OQV22 975.000000000000 POLLITT AND COMPANY N/A N/A N/A CA 570.000000000000 24506.000000000000 CITIGROUP GLOBAL MARKETS INC. 8-8177 000007059 MBNUM2BPBDO7JBLYG310 1485449.000000000000 HARTLEYS LIMITED N/A N/A 213800FIIH91HWEUVI79 AU 499241.000000000000 PI FINANCIAL CORP N/A N/A N/A CA 312752.000000000000 CANACCORD GENUITY CORP. 8-3271 000001020 WTX5X269IUOQ9YMI7R44 147826.000000000000 2445268.000000000000 N 30467500.000000000000 N N true INTERNAL CONTROL RPT 2 internalcontrolreport.htm INTERNAL CONTROL LETTER

REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM

To the Shareholders and

Board of Trustees of

OCM Mutual Fund

Livermore, California 94551

In planning and performing our audit of the financial statements of OCM Gold Fund (the “Fund”), a series of OCM Mutual Fund, as of and for the year ended November 30, 2018, in accordance with the standards of the Public Company Accounting Oversight Board (United States), we considered their internal control over financial reporting, including control activities for safeguarding securities, as a basis for designing our auditing procedures for the purpose of expressing our opinion on the financial statements and to comply with the requirements of Form N-CEN, but not for the purpose of expressing an opinion on the effectiveness of the Fund’s internal control over financial reporting. Accordingly, we express no such opinion.

The management of the Fund is responsible for establishing and maintaining effective internal control over financial reporting. In fulfilling this responsibility, estimates and judgments by management are required to assess the expected benefits and related costs of controls. A company’s internal control over financial reporting is a process designed 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. A company’s internal control over financial reporting includes those policies and procedures that (1) pertain to the maintenance of records that, in reasonable detail, accurately and fairly reflect the transactions and dispositions of the assets of the company; (2) provide reasonable assurance that transactions are recorded as necessary to permit preparation of financial statements in accordance with generally accepted accounting principles, and that receipts and expenditures of the company are being made only in accordance with authorizations of management and directors of the company; and (3) provide reasonable assurance regarding prevention or timely detection of unauthorized acquisition, use or disposition of a company’s assets that could have a material effect on the financial statements.

Because of inherent limitations, internal control over financial reporting may not prevent or detect misstatements. Also, projections of any evaluation of effectiveness to future periods are subject to the risk that controls may become inadequate because of changes in conditions, or that the degree of compliance with the policies or procedures may deteriorate.

A deficiency in internal control over financial reporting exists when the design or operation of a control does not allow management or employees, in the normal course of performing their assigned functions, to prevent or detect misstatements on a timely basis. A material weakness is a deficiency, or combination of deficiencies, in internal control over financial reporting, such that there is a reasonable possibility that a material misstatement of the company’s annual or interim financial statements will not be prevented or detected on a timely basis.

To the Shareholders and

Board of Trustees of

OCM Mutual Fund

Page Two

Our consideration of the Fund’s internal control over financial reporting was for the limited purpose described in the first paragraph and would not necessarily disclose all deficiencies in internal control that might be material weaknesses under standards established by the Public Company Accounting Oversight Board (United States). However, we noted no deficiencies in the Fund’s internal control over financial reporting and its operation, including controls for safeguarding securities, which we consider to be material weaknesses, as defined above, as of November 30, 2018.

This report is intended solely for the information and use of management, Shareholders and Board of Trustees of OCM Mutual Fund and the Securities and Exchange Commission, and is not intended to be and should not be used by anyone other than these specified parties.

/s/ TAIT, WELLER & BAKER LLP

Philadelphia, Pennsylvania

January 25, 2019