Hawaiian Tax-Free Trust
|
Schedule of Investments
|
June 30, 2012
|
(unaudited)
|
Principal
|
Security
|
Moody's/S&P
|
||||||||||||||
Amount
|
Description
|
Ratings
|
Value
|
(a)
|
||||||||||||
Municipal Bonds (96.8%):
|
||||||||||||||||
General Obligation Bonds (53.9%):
|
||||||||||||||||
City and County of Honolulu, Hawaii
|
||||||||||||||||
$ | 7,720,000 |
5.000%, 07/01/21 NPFG/ FGIC Insured
|
Aa1/NR***
|
$ | 8,646,477 | |||||||||||
City and County of Honolulu, Hawaii
|
||||||||||||||||
8,270,000 |
5.000%, 07/01/21 NPFG/ FGIC Insured
|
Aa1/NR***
|
9,262,483 | |||||||||||||
1,000,000 |
5.000%, 07/01/22 NPFG/ FGIC Insured
|
Aa1/NR***
|
1,120,330 | |||||||||||||
City and County of Honolulu, Hawaii
|
||||||||||||||||
8,500,000 |
5.000%, 07/01/17 NPFG Insured
|
Aa1/NR***
|
9,204,735 | |||||||||||||
City and County of Honolulu, Hawaii, Board of Water Supply System, Refunding Series A
|
||||||||||||||||
3,010,000 |
4.750%, 07/01/31 NPFG Insured
|
Aa2/AA
|
3,240,686 | |||||||||||||
City and County of Honolulu, Hawaii, Series A
|
||||||||||||||||
3,000,000 |
5.000%, 07/01/29 AGM Insured
|
Aa1/AA-
|
3,376,710 | |||||||||||||
City and County of Honolulu, Hawaii, Series A
|
||||||||||||||||
3,025,000 |
5.750%, 04/01/13 FGIC TCRS Insured
|
Aa1/NR
|
3,149,116 | |||||||||||||
City and County of Honolulu, Hawaii, Series A
|
||||||||||||||||
5,000,000 |
5.000%, 07/01/21 NPFG Insured
|
Aa1/NR***
|
5,600,050 | |||||||||||||
5,000,000 |
5.000%, 07/01/22 NPFG Insured
|
Aa1/NR***
|
5,593,750 | |||||||||||||
12,000,000 |
5.000%, 07/01/28 NPFG Insured
|
Aa1/NR***
|
13,167,720 | |||||||||||||
City and County of Honolulu, Hawaii, Series A
|
||||||||||||||||
7,000,000 |
5.000%, 07/01/29 NPFG Insured
|
Aa1/NR***
|
7,666,120 | |||||||||||||
City and County of Honolulu, Hawaii, Series A, Refunding
|
||||||||||||||||
2,000,000 |
5.250%, 04/01/17
|
Aa1/NR***
|
2,388,320 | |||||||||||||
5,000,000 |
5.000%, 04/01/19
|
Aa1/NR***
|
6,088,950 | |||||||||||||
3,930,000 |
5.000%, 04/01/20
|
Aa1/NR***
|
4,732,938 | |||||||||||||
City and County of Honolulu, Hawaii Refunding, Series A
|
||||||||||||||||
8,105,000 |
5.000%, 07/01/27 NPFG Insured
|
Aa1/NR***
|
8,672,026 | |||||||||||||
City and County of Honolulu, Hawaii, Series A 1994, ETM, Collateral: U.S. Government Securities
|
||||||||||||||||
775,000 |
5.750%, 04/01/13 FGIC/ TCRS Insured
|
Aa1/NR
|
806,620 | |||||||||||||
City and County of Honolulu, Hawaii, Series A 2003, Unrefunded Portion
|
||||||||||||||||
425,000 |
5.250%, 03/01/15 NPFG Insured
|
Aa1/NR***
|
437,992 | |||||||||||||
670,000 |
5.250%, 03/01/17 NPFG Insured
|
Aa1/NR***
|
689,939 | |||||||||||||
285,000 |
5.250%, 03/01/18 NPFG Insured
|
Aa1/NR***
|
293,559 | |||||||||||||
City and County of Honolulu, Hawaii, Series A, Prerefunded to 03/01/13 @100, Collateral: U.S. Government Securities
|
||||||||||||||||
3,205,000 |
5.250%, 03/01/15 NPFG Insured
|
NR/AA+
|
3,310,541 | |||||||||||||
4,110,000 |
5.250%, 03/01/17 NPFG Insured
|
NR/AA+
|
4,245,342 | |||||||||||||
1,715,000 |
5.250%, 03/01/18 NPFG Insured
|
NR/AA+
|
1,771,475 | |||||||||||||
City and County of Honolulu, Hawaii Refunding, Series B
|
||||||||||||||||
5,000,000 |
5.000%, 12/01/30
|
Aa1/NR***
|
5,762,000 | |||||||||||||
3,000,000 |
5.000%, 12/01/33
|
Aa1/NR***
|
3,406,980 | |||||||||||||
5,000,000 |
4.750%, 12/01/35
|
Aa1/NR***
|
5,443,950 | |||||||||||||
City and County of Honolulu, Hawaii, Series C
|
||||||||||||||||
6,740,000 |
5.000%, 07/01/18 NPFG Insured
|
Aa1/NR***
|
7,563,763 |
City and County of Honolulu, Hawaii, Series D
|
||||||||||||||||
2,595,000 |
5.000%, 07/01/22 AGM - CR NPFG Insured
|
Aa1/AA-
|
2,903,156 | |||||||||||||
City and County of Honolulu, Hawaii, Series D
|
||||||||||||||||
3,750,000 |
5.000%, 07/01/19 NPFG Insured
|
Aa1/NR***
|
4,204,763 | |||||||||||||
6,080,000 |
5.000%, 07/01/21 NPFG Insured
|
Aa1/NR***
|
6,809,661 | |||||||||||||
City and County of Honolulu, Hawaii Series D
|
||||||||||||||||
3,500,000 |
5.250%, 09/01/26
|
Aa1/NR***
|
4,180,085 | |||||||||||||
3,820,000 |
5.250%, 09/01/27
|
Aa1/NR***
|
4,540,070 | |||||||||||||
7,390,000 |
5.250%, 09/01/28
|
Aa1/NR***
|
8,740,301 | |||||||||||||
8,585,000 |
5.250%, 09/01/30
|
Aa1/NR***
|
10,128,926 | |||||||||||||
9,105,000 |
5.250%, 09/01/31
|
Aa1/NR***
|
10,696,827 | |||||||||||||
City and County of Honolulu, Hawaii Series F
|
||||||||||||||||
5,000,000 |
5.000%, 09/01/19
|
Aa1/NR***
|
6,152,550 | |||||||||||||
5,000,000 |
5.000%, 09/01/20
|
Aa1/NR***
|
6,099,600 | |||||||||||||
City and County of Honolulu, Hawaii Refunding, Series F
|
||||||||||||||||
1,500,000 |
5.000%, 07/01/28 NPFG/ FGIC Insured
|
Aa1/NR***
|
1,645,965 | |||||||||||||
City and County of Honolulu, Hawaii, Series F
|
||||||||||||||||
1,000,000 |
5.250%, 07/01/19 NPFG/ FGIC Insured
|
Aa1/NR***
|
1,128,630 | |||||||||||||
5,335,000 |
5.250%, 07/01/20 NPFG/ FGIC Insured
|
Aa1/NR***
|
6,014,519 | |||||||||||||
City and County of Honolulu, Hawaii Refunding & Improvement, Series B, ETM
|
||||||||||||||||
630,000 |
5.000%, 10/01/13
|
Aaa/NR***
|
666,994 | |||||||||||||
City and County of Honolulu, Hawaii, Water Utility Refunding and Improvement, ETM, Collateral: U.S. Government Securities
|
||||||||||||||||
1,125,000 |
6.000%, 12/01/12 FGIC/ TCRS Insured
|
Aa1/NR
|
1,151,573 | |||||||||||||
1,050,000 |
6.000%, 12/01/15 FGIC/ TCRS Insured
|
Aa1/NR
|
1,241,625 | |||||||||||||
County of Hawaii
|
||||||||||||||||
1,890,000 |
5.500%, 07/15/22
|
Aa2/AA-
|
2,256,755 | |||||||||||||
2,245,000 |
5.500%, 07/15/23
|
Aa2/AA-
|
2,658,282 | |||||||||||||
1,990,000 |
5.750%, 07/15/24
|
Aa2/AA-
|
2,365,732 | |||||||||||||
2,370,000 |
5.750%, 07/15/25
|
Aa2/AA-
|
2,798,496 | |||||||||||||
3,585,000 |
6.000%, 07/15/27
|
Aa2/AA-
|
4,289,703 | |||||||||||||
County of Hawaii
|
||||||||||||||||
2,010,000 |
5.250%, 07/15/21 NPFG Insured
|
Aa2/AA-
|
2,180,207 | |||||||||||||
County of Hawaii, Series A
|
||||||||||||||||
1,650,000 |
5.000%, 03/01/19
|
Aa2/AA-
|
2,010,954 | |||||||||||||
2,870,000 |
5.000%, 03/01/29
|
Aa2/AA-
|
3,287,355 | |||||||||||||
1,085,000 |
5.000%, 03/01/30
|
Aa2/AA-
|
1,237,182 | |||||||||||||
County of Hawaii, Series A
|
||||||||||||||||
2,000,000 |
5.000%, 07/15/17 AMBAC Insured
|
Aa2/AA-
|
2,376,180 | |||||||||||||
County of Hawaii, Series A
|
||||||||||||||||
1,000,000 |
5.000%, 07/15/16 AGM Insured
|
Aa2/AA-
|
1,046,920 | |||||||||||||
2,000,000 |
5.000%, 07/15/17 AGM Insured
|
Aa2/AA-
|
2,093,420 | |||||||||||||
1,000,000 |
5.000%, 07/15/18 AGM Insured
|
Aa2/AA-
|
1,046,070 | |||||||||||||
1,500,000 |
5.000%, 07/15/19 AGM Insured
|
Aa2/AA-
|
1,568,625 | |||||||||||||
County of Hawaii, Series A
|
||||||||||||||||
1,850,000 |
5.000%, 07/15/20 AGC Insured
|
Aa2/AA-
|
2,089,002 | |||||||||||||
County of Hawaii, Series A
|
||||||||||||||||
1,000,000 |
5.600%, 05/01/13 NPFG/ FGIC Insured
|
Aa2/AA-
|
1,044,170 | |||||||||||||
County of Kauai, Hawaii, 2005-Series A
|
||||||||||||||||
1,560,000 |
5.000%, 08/01/16 NPFG/ FGIC Insured
|
Aa2/AA
|
1,757,418 | |||||||||||||
2,010,000 |
5.000%, 08/01/17 NPFG/ FGIC Insured
|
Aa2/AA
|
2,256,547 | |||||||||||||
2,060,000 |
5.000%, 08/01/18 NPFG/ FGIC Insured
|
Aa2/AA
|
2,308,683 | |||||||||||||
1,400,000 |
5.000%, 08/01/19 NPFG/ FGIC Insured
|
Aa2/AA
|
1,567,650 | |||||||||||||
County of Kauai, Hawaii, Refunding, Series A
|
||||||||||||||||
1,000,000 |
3.250%, 08/01/21
|
Aa2/AA
|
1,097,130 | |||||||||||||
1,445,000 |
4.000%, 08/01/22
|
Aa2/AA
|
1,656,562 | |||||||||||||
1,240,000 |
4.000%, 08/01/24(A)
|
Aa2/AA
|
1,396,463 | |||||||||||||
1,000,000 |
3.625%, 08/01/25
|
Aa2/AA
|
1,069,820 | |||||||||||||
970,000 |
3.000%, 08/01/25(A)
|
Aa2/AA
|
969,990 | |||||||||||||
600,000 |
3.000%, 08/01/26(A)
|
Aa2/AA
|
590,496 | |||||||||||||
2,280,000 |
4.500%, 08/01/28(A)
|
Aa2/AA
|
2,596,624 | |||||||||||||
345,000 |
5.000%, 08/01/29(A)
|
Aa2/AA
|
405,575 | |||||||||||||
County of Kauai, Hawaii, Series A
|
||||||||||||||||
1,000,000 |
5.000%, 08/01/23 NPFG/ FGIC Insured
|
Aa2/AA
|
1,136,360 | |||||||||||||
1,555,000 |
5.000%, 08/01/24 NPFG/ FGIC Insured
|
Aa2/AA
|
1,767,040 | |||||||||||||
1,500,000 |
5.000%, 08/01/25 NPFG/ FGIC Insured
|
Aa2/AA
|
1,645,185 | |||||||||||||
1,000,000 |
5.000%, 08/01/28 NPFG/ FGIC Insured
|
Aa2/AA
|
1,136,360 | |||||||||||||
1,000,000 |
5.000%, 08/01/29 NPFG/ FGIC Insured
|
Aa2/AA
|
1,136,360 | |||||||||||||
County of Maui, Hawaii
|
||||||||||||||||
1,250,000 |
3.800%, 03/01/16 NPFG Insured
|
Aa1/AA+
|
1,345,925 |
1,105,000 |
5.000%, 03/01/19 NPFG Insured
|
Aa1/AA+
|
1,213,489 | |||||||||||||
County of Maui, Hawaii, Series A
|
||||||||||||||||
1,165,000 |
4.375%, 07/01/19 NPFG Insured
|
Aa1/AA+
|
1,304,777 | |||||||||||||
750,000 |
5.000%, 07/01/20 NPFG Insured
|
Aa1/AA+
|
858,473 | |||||||||||||
County of Maui, Hawaii, Refunding, 2005 Series A
|
||||||||||||||||
1,000,000 |
5.000%, 03/01/18 NPFG Insured
|
Aa1/AA+
|
1,100,390 | |||||||||||||
County of Maui, Hawaii, Refunding, Series B
|
||||||||||||||||
3,950,000 |
4.000%, 06/01/19
|
Aa1/AA+
|
4,531,203 | |||||||||||||
4,620,000 |
4.000%, 06/01/20
|
Aa1/AA+
|
5,285,234 | |||||||||||||
2,385,000 |
4.000%, 06/01/21
|
Aa1/AA+
|
2,691,210 | |||||||||||||
State of Hawaii
|
||||||||||||||||
6,285,000 |
5.000%, 05/01/19
|
Aa2/AA
|
7,565,192 | |||||||||||||
State of Hawaii, Prerefunded to 05/01/18 @100
|
||||||||||||||||
715,000 |
5.000%, 05/01/19
|
NR/NR*
|
874,545 | |||||||||||||
State of Hawaii
|
||||||||||||||||
5,000,000 |
5.000%, 07/01/16 AMBAC Insured
|
Aa2/AA
|
5,658,700 | |||||||||||||
State of Hawaii Prerefunded 10/01/14 @100
|
||||||||||||||||
5,000,000 |
5.000%, 10/01/22 NPFG Insured
|
Aa2/AA
|
5,515,650 | |||||||||||||
State of Hawaii
|
||||||||||||||||
2,330,000 |
6.000%, 12/01/12 NPFG/ FGIC Insured
|
Aa2/AA
|
2,384,755 | |||||||||||||
State of Hawaii, Series BZ
|
||||||||||||||||
3,500,000 |
6.000%, 10/01/12 FGIC/ TCRS Insured
|
Aa2/AA
|
3,548,545 | |||||||||||||
State of Hawaii, Series CM
|
||||||||||||||||
3,000,000 |
6.500%, 12/01/15 NPFG/ FGIC Insured
|
Aa2/AA
|
3,573,330 | |||||||||||||
State of Hawaii, Series CZ
|
||||||||||||||||
1,000,000 |
5.250%, 07/01/12 AGM Insured
|
Aa2/AA
|
1,000,106 | |||||||||||||
State of Hawaii, Series CZ, Prerefunded to 07/01/12 @100
|
||||||||||||||||
1,275,000 |
5.500%, 07/01/14 AGM Insured
|
Aa2/AA
|
1,275,000 | |||||||||||||
3,000,000 |
5.250%, 07/01/15 AGM Insured
|
Aa2/AA
|
3,000,000 | |||||||||||||
3,000,000 |
5.250%, 07/01/17 AGM Insured
|
Aa2/AA
|
3,000,000 | |||||||||||||
1,000,000 |
5.250%, 07/01/20 AGM Insured
|
Aa2/AA
|
1,000,000 | |||||||||||||
6,500,000 |
5.250%, 07/01/21 AGM Insured
|
Aa2/AA
|
6,500,000 | |||||||||||||
State of Hawaii, Series DD Prerefunded 5/01/14 @100
|
||||||||||||||||
5,000,000 |
5.250%, 05/01/23 NPFG Insured
|
Aa2/AA
|
5,445,550 | |||||||||||||
State of Hawaii, Series DE
|
||||||||||||||||
2,500,000 |
5.000%, 10/01/24 NPFG Insured
|
Aa2/AA
|
2,685,575 | |||||||||||||
State of Hawaii, Series DE, Prerefunded to 10/01/14 @100
|
||||||||||||||||
240,000 |
5.000%, 10/01/21 NPFG Insured
|
Aa2/BBB
|
264,468 | |||||||||||||
State of Hawaii, Series DE, Unrefunded Portion
|
||||||||||||||||
15,760,000 |
5.000%, 10/01/21 NPFG Insured
|
Aa2/AA
|
17,155,706 | |||||||||||||
State of Hawaii, Series DF
|
||||||||||||||||
3,500,000 |
5.000%, 07/01/18 AMBAC Insured
|
Aa2/AA
|
3,924,445 | |||||||||||||
10,000,000 |
5.000%, 07/01/24 AMBAC Insured
|
Aa2/AA
|
11,084,300 | |||||||||||||
5,000,000 |
5.000%, 07/01/25 AMBAC Insured
|
Aa2/AA
|
5,526,650 | |||||||||||||
State of Hawaii, Series DF, Prerefunded to 07/01/15 @100
|
||||||||||||||||
2,995,000 |
5.000%, 07/01/22 AMBAC Insured
|
Aa2/NR
|
3,392,437 | |||||||||||||
3,390,000 |
5.000%, 07/01/23 AMBAC Insured
|
Aa2/NR
|
3,839,853 | |||||||||||||
State of Hawaii, Series DF, Unrefunded Portion
|
||||||||||||||||
7,005,000 |
5.000%, 07/01/22 AMBAC Insured
|
Aa2/AA
|
7,790,751 | |||||||||||||
1,610,000 |
5.000%, 07/01/23 AMBAC Insured
|
Aa2/AA
|
1,787,583 | |||||||||||||
State of Hawaii, Series DG, Refunding
|
||||||||||||||||
2,000,000 |
5.000%, 07/01/17 AMBAC Insured
|
Aa2/AA
|
2,251,400 | |||||||||||||
State of Hawaii, Series DI
|
||||||||||||||||
5,000,000 |
5.000%, 03/01/20 AGM Insured
|
Aa2/AA
|
5,681,300 | |||||||||||||
2,750,000 |
5.000%, 03/01/21 AGM Insured
|
Aa2/AA
|
3,122,625 | |||||||||||||
5,000,000 |
5.000%, 03/01/22 AGM Insured
|
Aa2/AA
|
5,673,650 | |||||||||||||
State of Hawaii, Series DJ
|
||||||||||||||||
5,000,000 |
5.000%, 04/01/23 AMBAC Insured
|
Aa2/AA
|
5,735,800 | |||||||||||||
State of Hawaii, Series DJ
|
||||||||||||||||
5,000,000 |
5.000%, 04/01/23 AGM - CR AMBAC Insured
|
Aa2/AA
|
5,735,800 | |||||||||||||
State of Hawaii, Series DN
|
||||||||||||||||
1,000,000 |
5.250%, 08/01/25
|
Aa2/AA
|
1,178,690 | |||||||||||||
State of Hawaii, Series DO, Refunding
|
||||||||||||||||
1,100,000 |
3.000%, 08/01/12
|
Aa2/AA
|
1,102,493 |
State of Hawaii, Series DQ
|
||||||||||||||||
10,000,000 |
5.000%, 06/01/23
|
Aa2/AA
|
12,047,400 | |||||||||||||
State of Hawaii, Series DY, Refunding
|
||||||||||||||||
5,765,000 |
5.000%, 02/01/20
|
Aa2/AA
|
7,106,688 | |||||||||||||
State of Hawaii, Series DZ
|
||||||||||||||||
1,500,000 |
5.000%, 12/01/19
|
Aa2/AA
|
1,855,995 | |||||||||||||
State of Hawaii, Series DZ
|
||||||||||||||||
1,000,000 |
5.000%, 12/01/23
|
Aa2/AA
|
1,230,020 | |||||||||||||
7,500,000 |
5.000%, 12/01/26
|
Aa2/AA
|
8,944,800 | |||||||||||||
5,000,000 |
5.000%, 12/01/28
|
Aa2/AA
|
5,890,350 | |||||||||||||
7,500,000 |
5.000%, 12/01/29
|
Aa2/AA
|
8,788,200 | |||||||||||||
8,500,000 |
5.000%, 12/01/30
|
Aa2/AA
|
9,906,665 | |||||||||||||
1,500,000 |
5.000%, 12/01/31
|
Aa2/AA
|
1,738,890 | |||||||||||||
Total General Obligation Bonds
|
474,905,741 | |||||||||||||||
Revenue Bonds (42.9%):
|
||||||||||||||||
ABAG Finance Authority for Nonprofit Corporations, California Revenue Jewish Home San Francisco, VRDO*, daily reset
|
||||||||||||||||
9,700,000 |
0.130%, 11/15/35 Wells Fargo LOC
|
VMIG1/NR
|
9,700,000 | |||||||||||||
Board of Regents, University of Hawaii, University System, Series A, Prerefunded to 07/15/12 @100, Collateral: State & Local Government Series 100%
|
||||||||||||||||
2,000,000 |
5.500%, 07/15/19 FGIC Insured
|
Aa2/A+
|
2,002,960 | |||||||||||||
2,000,000 |
5.500%, 07/15/21 FGIC Insured
|
Aa2/A+
|
2,002,960 | |||||||||||||
2,000,000 |
5.500%, 07/15/22 FGIC Insured
|
Aa2/A+
|
2,002,960 | |||||||||||||
3,000,000 |
5.500%, 07/15/29 FGIC Insured
|
Aa2/A+
|
3,004,440 | |||||||||||||
City and County of Honolulu, Hawaii Board of Water Supply System
|
||||||||||||||||
1,070,000 |
4.500%, 07/01/22 NPFG Insured
|
Aa2/AA
|
1,175,951 | |||||||||||||
City and County of Honolulu, Hawaii, Board of Water Supply System, Prerefunded to 07/01/16 @100
|
||||||||||||||||
2,005,000 |
4.500%, 07/01/22 NPFG Insured
|
Aa2/BBB
|
2,311,043 | |||||||||||||
City and County of Honolulu, Hawaii Board of Water Supply Water System
|
||||||||||||||||
5,000,000 |
5.000%, 07/01/26 NPFG Insured
|
Aa2/AA
|
5,594,750 | |||||||||||||
City and County of Honolulu, Hawaii Board of Water Supply System, Refunding Series A
|
||||||||||||||||
4,525,000 |
4.500%, 07/01/24 NPFG Insured
|
Aa2/AA
|
4,943,879 | |||||||||||||
City and County of Honolulu, Hawaii, Board of Water Supply System, Refunding Series A, Prerefunded to 07/01/14 @100
|
||||||||||||||||
400,000 |
4.750%, 07/01/20 NPFG/ FGIC Insured
|
Aa2/AA
|
434,684 | |||||||||||||
City and County of Honolulu, Hawaii, Board of Water Supply System, Refunding Series A
|
||||||||||||||||
4,795,000 |
4.500%, 07/01/29
|
Aa2/NR
|
5,425,111 | |||||||||||||
4,955,000 |
4.500%, 07/01/30
|
Aa2/NR
|
5,574,177 | |||||||||||||
5,020,000 |
5.000%, 07/01/31
|
Aa2/NR
|
5,852,718 | |||||||||||||
3,040,000 |
5.000%, 07/01/32
|
Aa2/NR
|
3,524,424 | |||||||||||||
5,495,000 |
5.000%, 07/01/33
|
Aa2/NR
|
6,334,966 | |||||||||||||
City and County of Honolulu, Hawaii Board of Water Supply Water System, Prerefunded to 07/01/14 @100
|
||||||||||||||||
2,545,000 |
4.750%, 07/01/19 NPFG/ FGIC Insured
|
Aa2/AA
|
2,765,677 | |||||||||||||
City and County of Honolulu, Hawaii, Wastewater System
|
||||||||||||||||
5,000,000 |
5.000%, 07/01/32 NPFG Insured
|
Aa3/AA-
|
5,338,350 | |||||||||||||
City and County of Honolulu, Hawaii Wastewater System, First Bond Resolution-Senior Series A
|
||||||||||||||||
1,000,000 |
5.000%, 07/01/20
|
Aa2/AA
|
1,207,800 | |||||||||||||
2,455,000 |
5.000%, 07/01/21
|
Aa2/AA
|
2,938,463 | |||||||||||||
2,800,000 |
5.000%, 07/01/22
|
Aa2/AA
|
3,323,264 | |||||||||||||
3,300,000 |
5.000%, 07/01/23
|
Aa2/AA
|
3,879,183 | |||||||||||||
2,500,000 |
5.000%, 07/01/24
|
Aa2/AA
|
2,912,425 | |||||||||||||
City and County of Honolulu, Hawaii, Wastewater System, First Bond Resolution, Senior Series A
|
||||||||||||||||
1,000,000 |
5.000%, 07/01/36 NPFG Insured
|
Aa2/AA
|
1,070,000 | |||||||||||||
City and County of Honolulu, Hawaii Wastewater System, Second Bond, Junior B-1 Remarket 09/15/06
|
||||||||||||||||
1,340,000 |
5.000%, 07/01/18 NPFG Insured
|
Aa3/AA-
|
1,518,153 | |||||||||||||
1,935,000 |
5.000%, 07/01/19 NPFG Insured
|
Aa3/AA-
|
2,185,853 | |||||||||||||
2,035,000 |
5.000%, 07/01/20 NPFG Insured
|
Aa3/AA-
|
2,282,904 | |||||||||||||
City and County of Honolulu, Hawaii, Wastewater System, Senior Series A
|
3,370,000 |
5.000%, 07/01/18 NPFG/ FGIC Insured
|
Aa2/AA
|
3,744,879 | |||||||||||||
2,000,000 |
5.000%, 07/01/24 NPFG/ FGIC Insured
|
Aa2/AA
|
2,162,940 | |||||||||||||
5,360,000 |
4.500%, 07/01/28
|
Aa2/NR***
|
5,967,020 | |||||||||||||
4,480,000 |
4.500%, 07/01/30
|
Aa2/NR***
|
4,935,482 | |||||||||||||
1,000,000 |
4.000%, 07/01/31
|
Aa2/NR***
|
1,057,250 | |||||||||||||
2,000,000 |
5.250%, 07/01/36
|
Aa2/NR***
|
2,314,700 | |||||||||||||
City and County of Honolulu, Hawaii, Wastewater System, Series A
|
||||||||||||||||
1,825,000 |
5.000%, 07/01/22 NPFG/ FGIC Insured
|
Aa2/AA
|
1,996,422 | |||||||||||||
City and County of Honolulu, Hawaii Wastewater System, 2nd Board Resolution Resolution-Junior-Series A
|
||||||||||||||||
1,155,000 |
4.000%, 07/01/13
|
Aa3/AA-
|
1,197,874 | |||||||||||||
1,000,000 |
4.000%, 07/01/14
|
Aa3/AA-
|
1,066,300 | |||||||||||||
1,030,000 |
5.000%, 07/01/22
|
Aa3/AA-
|
1,215,153 | |||||||||||||
City and County of Honolulu, Hawaii Wastewater System, 2nd Board Resolution Resolution-Junior-Series A
|
||||||||||||||||
7,400,000 |
4.500%, 07/01/27
|
Aa3/AA-
|
8,144,662 | |||||||||||||
Hawaii State Department of Budget and Finance, Special Purpose Revenue, Electric Co. & Subsidiaries
|
||||||||||||||||
2,000,000 |
4.800%, 01/01/25 FGIC Insured
|
Baa1/BBB-
|
2,040,380 | |||||||||||||
Hawaii State Department of Budget and Finance, Special Purpose Revenue Linked Certificates (Kapiolani Health Care)
|
||||||||||||||||
2,185,000 |
6.400%, 07/01/13
|
A3/BBB+
|
2,248,190 | |||||||||||||
Hawaii State Department of Budget and Finance, Special Purpose Revenue Refunding Queens Health System, Series A VRDO*, weekly reset
|
||||||||||||||||
18,535,000 |
0.300%, 07/01/29 Bank of America LOC
|
VMIG1/A-1
|
18,535,000 | |||||||||||||
Hawaii State Department of Budget and Finance, Special Purpose Revenue Refunding Queens Health System, Series B, VRDO* weekly reset
|
||||||||||||||||
20,000,000 |
0.300%, 07/01/29 Bank of America LOC
|
VMIG1/A-1
|
20,000,000 | |||||||||||||
Hawaii State Department of Budget and Finance, Special Purpose Revenue (Hawaiian Electric Company, Inc.), Series A
|
||||||||||||||||
4,965,000 |
5.500%, 12/01/14 AMBAC Insured
|
Baa1/BBB-
|
4,974,930 | |||||||||||||
Hawaii State Department of Budget and Finance of the State of Hawaii Special Purpose Revenue (Hawaiian Electric Company, Inc. and Subsidiaries Projects), Series A-AMT
|
||||||||||||||||
5,700,000 |
5.650%, 10/01/27 NPFG Insured
|
Baa2/BBB
|
5,777,235 | |||||||||||||
Hawaii State Department of Budget and Finance, Special Purpose Revenue (Hawaiian Electric Company, Inc., and Subsidiaries Projects), Series B-AMT
|
||||||||||||||||
1,000,000 |
5.000%, 12/01/22 Syncora Guarantee, Inc. Insured
|
Baa1/BBB-
|
1,012,550 | |||||||||||||
Hawaii State Department of Budget and Finance, Special Purpose Revenue (Wilcox Memorial Hospital Projects)
|
||||||||||||||||
1,145,000 |
5.350%, 07/01/18
|
A3/BBB+
|
1,147,233 | |||||||||||||
Hawaii State Department of Budget and Finance, Special Purpose Senior Living Revenue, Kahala Nui
|
||||||||||||||||
1,000,000 |
5.125%, 11/15/32(A)
|
NR/NR*****
|
1,028,440 | |||||||||||||
Hawaii State Department of Hawaiian Home Lands
|
||||||||||||||||
730,000 |
4.500%, 04/01/14
|
A1/NR****
|
764,858 | |||||||||||||
500,000 |
5.000%, 04/01/15
|
A1/NR****
|
541,440 | |||||||||||||
715,000 |
5.000%, 04/01/17
|
A1/NR****
|
806,663 | |||||||||||||
1,000,000 |
5.500%, 04/01/20
|
A1/NR****
|
1,157,410 | |||||||||||||
Puerto Rico Commonwealth Highway & Transportation Authority, Series D, Prerefunded to 07/01/12 @100
|
||||||||||||||||
500,000 |
5.750%, 07/01/41
|
Baa1/AA+
|
500,000 | |||||||||||||
Puerto Rico Commonwealth Highway & Transportation Authority, Series G, Prerefunded to 07/01/13 @100
|
||||||||||||||||
840,000 |
5.250%, 07/01/15 FGIC Insured
|
Baa1/NR
|
881,026 | |||||||||||||
Puerto Rico Commonwealth Highway & Transportation Authority, Series G, Unrefunded Portion
|
||||||||||||||||
160,000 |
5.250%, 07/01/15 FGIC Insured
|
Baa1/BBB
|
166,077 | |||||||||||||
Puerto Rico Electric Power Authority Power Revenue Bonds Series QQ
|
||||||||||||||||
3,195,000 |
5.500%, 07/01/16 Syncora Guarantee, Inc. Insured
|
Baa1/BBB+
|
3,632,204 | |||||||||||||
Puerto Rico Electric Power Authority Power Revenue Series TT
|
||||||||||||||||
5,000,000 |
5.000%, 07/01/26
|
Baa1/BBB+
|
5,249,450 | |||||||||||||
Puerto Rico Electric Power Authority Power Revenue, Refunding Series UU
|
||||||||||||||||
1,000,000 |
4.250%, 07/01/13
|
Baa1/BBB+
|
1,032,400 |
State of Hawaii Airport System, AMT, Second Series, ETM, Collateral: U.S. Government Securities
|
||||||||||||||||
1,765,000 |
6.900%, 07/01/12 NPFG Insured
|
NR/BBB
|
1,765,286 | |||||||||||||
State of Hawaii Airport System Revenue Refunding, AMT
|
||||||||||||||||
15,000,000 |
5.000%, 07/01/21
|
A2/A | 17,348,250 | |||||||||||||
5,000,000 |
5.000%, 07/01/22
|
A2/A | 5,719,200 | |||||||||||||
1,500,000 |
5.000%, 07/01/23
|
A2/A | 1,695,705 | |||||||||||||
3,000,000 |
5.000%, 07/01/24
|
A2/A | 3,374,010 | |||||||||||||
State of Hawaii Airport System Revenue Refunding, Series A
|
||||||||||||||||
1,150,000 |
5.250%, 07/01/21
|
A2/A | 1,382,346 | |||||||||||||
1,000,000 |
5.250%, 07/01/23
|
A2/A | 1,193,230 | |||||||||||||
1,000,000 |
5.250%, 07/01/27
|
A2/A | 1,161,090 | |||||||||||||
State of Hawaii Airport System, Series A
|
||||||||||||||||
2,000,000 |
4.000%, 07/01/20
|
A2/A | 2,225,220 | |||||||||||||
3,000,000 |
5.000%, 07/01/22
|
A2/A | 3,540,060 | |||||||||||||
State of Hawaii Harbor Capital Improvement, Series B-AMT
|
||||||||||||||||
3,000,000 |
5.500%, 07/01/19 AMBAC Insured
|
NR/NR**
|
3,005,850 | |||||||||||||
State of Hawaii Harbor System, Series A
|
||||||||||||||||
16,500,000 |
5.750%, 07/01/35
|
A2/A+ | 18,735,420 | |||||||||||||
3,000,000 |
5.625%, 07/01/40
|
A2/A+ | 3,354,480 | |||||||||||||
State of Hawaii Harbor System, Series A
|
||||||||||||||||
4,910,000 |
5.250%, 01/01/25 AGM Insured
|
Aa3/AA-
|
5,189,870 | |||||||||||||
1,450,000 |
5.250%, 01/01/27 AGM Insured
|
Aa3/AA-
|
1,526,807 | |||||||||||||
State of Hawaii Harbor System, Series A-AMT
|
||||||||||||||||
2,000,000 |
5.250%, 07/01/15 AGM Insured
|
Aa3/AA-
|
2,188,880 | |||||||||||||
2,215,000 |
5.250%, 07/01/17 AGM Insured
|
Aa3/AA-
|
2,522,442 | |||||||||||||
State of Hawaii Highway Revenue
|
||||||||||||||||
1,000,000 |
5.250%, 01/01/17
|
Aa2/AA+
|
1,189,500 | |||||||||||||
1,000,000 |
5.250%, 01/01/18
|
Aa2/AA+
|
1,209,190 | |||||||||||||
6,135,000 |
5.500%, 07/01/18
|
Aa2/AA+
|
7,595,007 | |||||||||||||
5,220,000 |
6.000%, 01/01/23
|
Aa2/AA+
|
6,388,601 | |||||||||||||
State of Hawaii Highway Revenue, Series A
|
||||||||||||||||
1,000,000 |
5.000%, 07/01/20 AGM Insured
|
Aa2/AA+
|
1,104,400 | |||||||||||||
2,000,000 |
5.000%, 07/01/22 AGM Insured
|
Aa2/AA+
|
2,200,140 | |||||||||||||
State of Hawaii Highway Revenue, Series A
|
||||||||||||||||
6,000,000 |
5.000%, 01/01/28
|
Aa2/AA+
|
7,065,900 | |||||||||||||
4,100,000 |
5.000%, 01/01/29
|
Aa2/AA+
|
4,802,330 | |||||||||||||
3,980,000 |
5.000%, 01/01/30
|
Aa2/AA+
|
4,636,660 | |||||||||||||
3,040,000 |
5.000%, 01/01/32
|
Aa2/AA+
|
3,503,570 | |||||||||||||
State of Hawaii Highway Revenue, Series B
|
||||||||||||||||
2,000,000 |
5.000%, 07/01/16 AGM Insured
|
Aa2/AA+
|
2,246,340 | |||||||||||||
State of Hawaii Housing Finance and Development Corp. Single Family Mortgage, Series A-AMT
|
||||||||||||||||
2,105,000 |
5.300%, 07/01/22 FNMA Insured
|
Aaa/AA+
|
2,106,410 | |||||||||||||
7,860,000 |
5.400%, 07/01/29 FNMA Insured
|
Aaa/AA+
|
7,862,830 | |||||||||||||
405,000 |
5.750%, 07/01/30 FNMA Insured
|
Aaa/AA+
|
405,097 | |||||||||||||
690,000 |
5.400%, 07/01/30 FNMA Insured
|
Aaa/AA+
|
690,200 | |||||||||||||
State of Hawaii Housing Finance and Development Corp. Single Family Mortgage, Series B
|
||||||||||||||||
4,605,000 |
5.300%, 07/01/28 FNMA Insured
|
Aaa/AA+
|
4,606,520 | |||||||||||||
State of Hawaii Housing Finance and Development Corp. Single Family Mortgage, Series B
|
||||||||||||||||
2,215,000 |
4.500%, 01/01/26 FNMA/GNMA Collateralized
|
Aaa/AA+
|
2,419,954 | |||||||||||||
State of Hawaii Housing Finance and Development Corp. Multifamily Revenue, Ko Oloa Ula Apartments, Series B, VRDO*
|
||||||||||||||||
5,800,000 |
0.018%, 09/01/17
|
NR/A-1+
|
5,800,000 | |||||||||||||
State of Hawaii Housing Finance and Development Corp. Multifamily Revenue, Kuhio Park Terrace, Series B
|
||||||||||||||||
2,525,000 |
1.250%, 10/01/13 FHLMC Insured
|
NR/A-1+
|
2,538,938 | |||||||||||||
University of Hawaii
|
||||||||||||||||
5,000,000 |
5.000%, 07/15/21 NPFG Insured
|
Aa2/A+
|
5,625,150 | |||||||||||||
University of Hawaii
|
||||||||||||||||
2,000,000 |
5.000%, 10/01/23 AGC-ICC MBIA
|
Aa2/AA-
|
2,236,580 | |||||||||||||
University of Hawaii, Series A
|
||||||||||||||||
1,000,000 |
4.000%, 10/01/18
|
Aa2/A+
|
1,138,760 | |||||||||||||
2,725,000 |
5.500%, 10/01/22
|
Aa2/A+
|
3,311,420 | |||||||||||||
5,225,000 |
5.250%, 10/01/34
|
Aa2/A+
|
5,890,404 |
University of Hawaii, Series A-2
|
||||||||||||||||
1,000,000 |
4.000%, 10/01/14
|
Aa2/A+
|
1,071,550 | |||||||||||||
500,000 |
4.000%, 10/01/15
|
Aa2/A+
|
549,870 | |||||||||||||
1,125,000 |
4.000%, 10/01/16
|
Aa2/A+
|
1,266,210 | |||||||||||||
2,175,000 |
4.000%, 10/01/17
|
Aa2/A+
|
2,466,733 | |||||||||||||
1,000,000 |
4.000%, 10/01/19
|
Aa2/A+
|
1,142,830 | |||||||||||||
University of Hawaii, Series B-2
|
||||||||||||||||
1,500,000 |
4.000%, 10/01/14
|
Aa2/A+
|
1,607,325 | |||||||||||||
University of Hawaii Revenue Refunding, Series A
|
||||||||||||||||
760,000 |
5.000%, 10/01/15
|
Aa2/A+
|
860,016 | |||||||||||||
625,000 |
4.000%, 10/01/16
|
Aa2/A+
|
703,450 | |||||||||||||
1,510,000 |
5.000%, 10/01/17
|
Aa2/A+
|
1,788,671 | |||||||||||||
230,000 |
2.000%, 10/01/18
|
Aa2/A+
|
234,752 | |||||||||||||
University of Hawaii Revenue Refunding, Series A
|
||||||||||||||||
1,000,000 |
4.500%, 07/15/23 NPFG Insured
|
Aa2/A+
|
1,085,370 | |||||||||||||
4,840,000 |
4.500%, 07/15/25 NPFG Insured
|
Aa2/A+
|
5,218,294 | |||||||||||||
University of Hawaii, University System, Prerefunded to 07/12/12 @100 Collateral: State and Local Government Securities
|
||||||||||||||||
1,650,000 |
5.125%, 07/15/32 FGIC Insured
|
Aa2/A+
|
1,652,277 | |||||||||||||
University of Hawaii, University System, Series A, Prerefunded to 07/15/12 @100
|
||||||||||||||||
1,090,000 |
5.500%, 07/15/16 FGIC Insured
|
Aa2/A+
|
1,091,613 | |||||||||||||
Total Revenue Bonds
|
377,846,271 | |||||||||||||||
Total Investments (cost $796,736,638-note b) - 96.8%
|
852,752,012 | |||||||||||||||
Other assets less liabilities - 3.2%
|
28,121,464 | |||||||||||||||
NET ASSETS - 100.0%
|
$ | 880,873,476 |
* Variable rate demand obligations (VRDOs) are payable upon demand within the same day for securities with daily liquidity or seven days for securities with weekly liquidity.
|
** Any security not rated (NR) by any of the Nationally Recognized Statistical Rating Organizations ("NRSRO or credit rating agency") has been determined by the Investment Adviser to have sufficient quality to be ranked in the top credit four ratings if a credit rating were to be assigned by a NRSRO.
|
Fitch Ratings:
|
*** AA
|
**** A
|
*****BBB
|
(A) Security purchased on a delayed delivery or when-issued basis.
|
Percent of
|
|||||
Portfolio Distribution By Quality Rating
|
Investments †
|
||||
Aaa or VMIG1of Moody's and A-1 of S&P
|
8.5 | % | |||
Prerefunded bonds †† / Escrowed to Maturity bonds
|
8.9 | ||||
Aa of Moody's or AA of S&P
|
71.6 | ||||
A of Moody's
|
7.8 | ||||
Baa of Moody's
|
2.9 | ||||
Not rated**
|
0.3 | ||||
100.0 | % |
† Calculated using the Moody's rating unless otherwise noted.
|
|||||
†† Prerefunded bonds are bonds for which U.S. Government Obligations have been placed in escrow to retire the bonds at their earliest call date.
|
|||||
PORTFOLIO ABBREVIATIONS:
|
|||||
ABAG
|
Association of Bay Area Governments
|
||||
AGC
|
Assured Guaranty Corp.
|
||||
AGM
|
Assured Guaranty Municipal Corp.
|
||||
AMBAC
|
American Municipal Bond Assurance Corp.
|
||||
AMT
|
Alternative Minimum Tax
|
||||
CR
|
Custodial Receipts
|
||||
ETM
|
Escrowed to Maturity
|
||||
FGIC
|
Financial Guaranty Insurance Co.
|
||||
FHLMC
|
Federal Home Loan Mortgage Corp.
|
||||
FNMA
|
Federal National Mortgage Association
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GNMA
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Government National Mortgage Association
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LOC
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Letter of Credit
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NPFG
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National Public Finance Guarantee
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NR
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Not Rated
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TCRS
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Transferable Custodial Receipts
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VRDO
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Variable Rate Demand Obligation
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Hawaiian Tax-Free Trust
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NOTES TO FINANCIAL STATEMENTS
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June 30, 2012
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(unaudited)
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(a) Securities valuation policies and other investment related disclosures are hereby incorporated by reference in the annual and semi-annual reports previously filed with the Securities and Exchange Commission on Form N-CSR.
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(b) At June 30, 2012, the net unrealized appreciation on investments, based on cost for federal income tax purposes of $796,736,638 amounted to $56,015,374 which consisted of aggregate gross unrealized appreciation of $56,034,711 and aggregate gross unrealized depreciation of $19,337.
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(c) Fair Value Measurements: The Trust follows a fair value hierarchy that distinguishes between market data obtained from independent sources (observable inputs) and the Trust’s own market assumptions (unobservable inputs). These inputs are used in determining the value of the Trust’s investments and are summarized in the following fair value hierarchy:
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Level 1 – Unadjusted quoted prices in inactive markets for identical assets or liabilities that the Trust has the ability to access.
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Level 2 – Observable inputs other than quoted prices included in level 1 that are observable for the asset or liability, either directly or indirectly. These inputs may include quoted prices for the identical instrument on an inactive market, prices for similar instruments, interest rates, prepayment speeds, credit risk, yield curves, default rates and similar data.
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Level 3 – Unobservable inputs for the asset or liability, to the extent relevant observable inputs are not available, representing the Trust’s own assumptions about the assumptions a market participant would use in valuing the asset or liability, and would be based on the best information available.
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The inputs or methodology used for valuing securities are not an indication of the risk associated with investing in those securities.
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The following is a summary of the valuation inputs, representing 100% of the Trust’s investments, used to value the Trust’s net assets as of June 30, 2012:
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Valuation Inputs
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Investments in Securities | |||
Level 1 – Quoted Prices
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$ | - | |||
Level 2 – Other Significant Observable Inputs- Municipal Bonds+
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852,752,012 | ||||
Level 3 – Significant Unobservable Inputs
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- | ||||
Total
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$ | 852,752,012 |
HAWAIIAN TAX-FREE TRUST
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By:
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/s/ Diana P. Herrmann
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Diana P. Herrmann
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Vice Chair, President and Trustee
August 20, 2012
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By:
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/s/ Diana P. Herrmann
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Diana P. Herrmann
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Vice Chair, President and Trustee
August 20, 2012
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By:
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/s/ Joseph P. DiMaggio
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Joseph P. DiMaggio
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Chief Financial Officer and Treasurer
August 20, 2012
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1.
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I have reviewed this report on Form N-Q of Hawaiian Tax-Free Trust;
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2.
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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;
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3.
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Based on my knowledge, the schedules of investments included in this report fairly present in all material respects the investments of the registrant as of the end of the fiscal quarter for which the report is filed;
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4.
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The registrant's other certifying officer(s) 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:
|
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(a)
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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;
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(b)
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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;
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(c)
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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
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(d)
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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
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5.
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The registrant's other certifying officer(s) 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):
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(a)
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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
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(b)
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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.
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/s/ Diana P. Herrmann
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||
Diana P. Herrmann
Vice Chair, President and Trustee
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1.
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I have reviewed this report on Form N-Q of Hawaiian Tax-Free Trust;
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2.
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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;
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3.
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Based on my knowledge, the schedules of investments included in this report fairly present in all material respects the investments of the registrant as of the end of the fiscal quarter for which the report is filed;
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4.
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The registrant's other certifying officer(s) 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;
|
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(b)
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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;
|
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(c)
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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
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(d)
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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
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5.
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The registrant's other certifying officer(s) 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):
|
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(a)
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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
|
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(b)
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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.
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/s/ Joseph P. DiMaggio
|
||
Joseph P. DiMaggio
Chief Financial Officer and Treasurer
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