0001145549-22-076074.txt : 20221214 0001145549-22-076074.hdr.sgml : 20221214 20221214141641 ACCESSION NUMBER: 0001145549-22-076074 CONFORMED SUBMISSION TYPE: N-CEN PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20220930 FILED AS OF DATE: 20221214 DATE AS OF CHANGE: 20221214 EFFECTIVENESS DATE: 20221214 FILER: COMPANY DATA: COMPANY CONFORMED NAME: COLORADO BONDSHARES A TAX EXEMPT FUND CENTRAL INDEX KEY: 0000810744 IRS NUMBER: 846206949 FISCAL YEAR END: 0930 FILING VALUES: FORM TYPE: N-CEN SEC ACT: 1940 Act SEC FILE NUMBER: 811-05009 FILM NUMBER: 221461795 BUSINESS ADDRESS: STREET 1: 1200 17TH STREET STREET 2: SUITE 1000 CITY: DENVER STATE: CO ZIP: 80202-5835 BUSINESS PHONE: 3035726990 MAIL ADDRESS: STREET 1: 1200 17TH STREET STREET 2: SUITE 1000 CITY: DENVER STATE: CO ZIP: 80202-5835 0000810744 S000012064 COLORADO BONDSHARES A TAX EXEMPT FUND C000032818 COLORADO BONDSHARES A TAX EXEMPT FUND HICOX N-CEN 1 primary_doc.xml X0404 N-CEN LIVE 0000810744 XXXXXXXX false N-1A S000012064 C000032818 Colorado BondShares A Tax Exempt Fund 811-05009 0000810744 5493004J1EX5YAL0BM32 1200 17th Street Suite 850 Denver 80202 US-CO US 3035726990 Colorado BondShares 1200 17th St Ste 850 Denver 80202 3035726990 The accounts, books, and other documents required to be maintained by section 31(a) of the Investment Company Act. N N N N-1A 1 Y George N. Donnelly N/A Y Bruce G. Ely N/A N James R. Madden N/A N Fred R. Kelly, Jr. 000716207 1200 17th Street Suite 850 Denver 80202 XXXXXX N N N N N N N Colorado Financial Service Corporation 8-52817 000104343 N/A N N Plante & Moran, PLLC 00166 N/A N N N N N N N Colorado BondShares A Tax-Exempt Fund S000012064 549300KYLYKP76VSWS05 N 1 0 0 N/A N N N N N/A N/A N/A N/A N N N N Freedom Funds Management Company 801-28640 000110785 N/A N Freedom Funds Management Company 84-01515 N/A Y N N ICE Data Pricing & Reference Data, LLC 5493000NQ9LYLDBCTL34 N N UMB Bank VNOO6EITDJ2YUEBMSZ83 N N Bank - section 17(f)(1) (15 U.S.C. 80a-17(f)(1)) N DST Systems, Inc. 21B7QCD05XOK0YTYOP98 N N N N 0.000000000000 D.A. Davidson & Co. 008-02399 000000199 549300094RQ5A7DYLF51 230871701.670000000000 Piper Sandler & CO. 008-15204 000000665 549300GRQCWQ3XGH0H10 139802100.550000000000 Stifel, Nicolaus & Company, Inc 008-01447 000000793 5WUVMA08EYG4KEUPW589 46707742.800000000000 Hilltop Securities Inc. 008-45123 000006220 549300IXU82PMU6XZT45 6989108.600000000000 Wells Fargo Securities 008-65876 000126292 VYVVCKR63DVZZN70PB21 2355000.000000000000 426725653.620000000000 N 1763431964.249000000000 N N N N true INTERNAL CONTROL RPT 2 cbsinternalctrl_93022.htm COLORADO BOND SHARES INTERNAL CONTROL 9/30/2022. PDFtoHTML Conversion Output

To the Board of Trustees

Colorado BondShares - A Tax-Exempt Fund

In planning and performing our audit of the financial statements of Colorado BondShares - A Tax- Exempt Fund (the "Fund") as of and for the year ended September 30, 2022 in accordance with the standards of the Public Company Accounting Oversight Board (United States) (PCAOB), we considered the Fund's internal control over financial reporting, including controls over safeguarding securities, as a basis for designing audit procedures that are appropriate in the circumstances 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.

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 fund'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 (GAAP). A fund'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 Fund; (2) provide reasonable assurance that transactions are recorded as necessary to permit preparation of financial statements in accordance with GAAP and that receipts and expenditures of the Fund are being made only in accordance with authorizations of management and directors of the Fund; and (3) provide reasonable assurance regarding prevention or timely detection of unauthorized acquisition, use, or disposition of a fund's assets that could have a material effect on the financial statements.

Because of its 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 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 and correct, misstatements on a timely basis. A material weakness is a deficiency, or combination of deficiencies, in internal control such that there is a reasonable possibility that a material misstatement of the Fund's financial statements will not be prevented, or detected and corrected, on a timely basis.

Our consideration of internal control 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 PCAOB. However, we noted no deficiencies in the Fund's internal control over financial reporting and its operation, including controls over safeguarding securities, that we consider to be material weaknesses, as defined above, as of September 30, 2022.

This report is intended solely for the information and use of management and the board of trustees of the 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/ Plante & Moran, PLLC

Denver, Colorado

November 22, 2022