-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, S7TeoY4jRy7gDjtOhyn9L/2vwO7cfWN5kXVv+nyzPolq6GcCKhhFUTlgTmJVpS5N MAWKz5qOKwBYFiizrrtTVg== 0001047469-03-018890.txt : 20030515 0001047469-03-018890.hdr.sgml : 20030515 20030515154337 ACCESSION NUMBER: 0001047469-03-018890 CONFORMED SUBMISSION TYPE: 40-17F2 PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20030515 EFFECTIVENESS DATE: 20030515 SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: FIRST AMERICAN INVESTMENT FUNDS INC CENTRAL INDEX KEY: 0000820892 IRS NUMBER: 411418224 STATE OF INCORPORATION: MD FISCAL YEAR END: 0930 FILING VALUES: FORM TYPE: 40-17F2 SEC ACT: 1940 Act SEC FILE NUMBER: 811-05309 FILM NUMBER: 03704823 BUSINESS ADDRESS: STREET 1: 800 NICOLLET MALL STREET 2: BC-MN-H210 CITY: MINNEAPOLIS STATE: MN ZIP: 55402 BUSINESS PHONE: 6123031606 MAIL ADDRESS: STREET 1: 800 NICOLLET MALL STREET 2: BC-MN-H210 CITY: MINNEAPOLIS STATE: MN ZIP: 55402 FORMER COMPANY: FORMER CONFORMED NAME: SECURAL MUTUAL FUNDS INC DATE OF NAME CHANGE: 19910627 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: FIRST AMERICAN INVESTMENT FUNDS INC CENTRAL INDEX KEY: 0000820892 STANDARD INDUSTRIAL CLASSIFICATION: UNKNOWN SIC - 0000 [0000] IRS NUMBER: 411418224 STATE OF INCORPORATION: MD FISCAL YEAR END: 0930 FILING VALUES: FORM TYPE: 40-17F2 BUSINESS ADDRESS: STREET 1: 800 NICOLLET MALL STREET 2: BC-MN-H210 CITY: MINNEAPOLIS STATE: MN ZIP: 55402 BUSINESS PHONE: 6123031606 MAIL ADDRESS: STREET 1: 800 NICOLLET MALL STREET 2: BC-MN-H210 CITY: MINNEAPOLIS STATE: MN ZIP: 55402 FORMER COMPANY: FORMER CONFORMED NAME: SECURAL MUTUAL FUNDS INC DATE OF NAME CHANGE: 19910627 40-17F2 1 a2111404z40-17f2.txt 40-17F2 UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM N-17f-2 Certificate of Accounting of Securities and Similar Investments in the Custody of Management Investment Companies Pursuant to Rule 17f-2 [17 CFR 270.17F-2]
- ------------------------------------------------------------------------------------------------------------------------------------ 1. Investment Company Act File Number: Date examination completed: 811-03313, 811-05309, 811-07687 April 30, 2002 - ------------------------------------------------------------------------------------------------------------------------------------ 2. State identification Number: ------------------------------------------------------------------------------------------------------------------------------ AL AK AZ AR CA CO ------------------------------------------------------------------------------------------------------------------------------ CT DE DC FL GA HI ------------------------------------------------------------------------------------------------------------------------------ ID IL IN IA KS KY ------------------------------------------------------------------------------------------------------------------------------ LA ME MD MA MI MN ------------------------------------------------------------------------------------------------------------------------------ MS MO MT NE NV NH ------------------------------------------------------------------------------------------------------------------------------ NJ NM NY NC ND OH ------------------------------------------------------------------------------------------------------------------------------ OK OR PA RI SC SD ------------------------------------------------------------------------------------------------------------------------------ TN TX UT VT VA WA ------------------------------------------------------------------------------------------------------------------------------ WV WI WY PUERTO RICO ------------------------------------------------------------------------------------------------------------------------------ Other (specify): ------------------------------------------------------------------------------------------------------------------------------ 3. Exact name of investment company as specified in registration statement: First American Funds Inc. First American Investment Funds Inc. First American Strategy Funds Inc. - ------------------------------------------------------------------------------------------------------------------------------------ 4. Address of principal executive office (number, street, city, state, zip code): 800 Nicollet Mall Minneapolis, MN 55402 - ------------------------------------------------------------------------------------------------------------------------------------
INSTRUCTIONS This Form must be completed by investment companies that have custody of securities or similar investments. INVESTMENT COMPANY 1. All items must be completed by the investment company. 2. Give this Form to the independent public accountant who, in compliance with Rule 17f-2 under the Act and applicable state law, examines securities and similar investments in the custody of the investment company. ACCOUNTANT 3. Submit this Form to the Securities and Exchange Commission and appropriate state securities administrators when filing the certificate of accounting required by Rule 17f-2 under the Act and applicable state law. File the original and one copy with the Securities and Exchange Commission's principal office in Washington, D.C., one copy with the regional office for the region in which the investment company's principal business operations are conducted, and one copy with the appropriate state administrator(s), if applicable. THIS FORM MUST BE GIVEN TO YOUR INDEPENDENT PUBLIC ACCOUNTANT SEC 2198 (11-91) Report of Independent Accountants The Board of Directors First American Funds, Inc. We have examined management's assertion, included in the accompanying "Report of Management on Compliance with Rule 17f-2 of the Investment Company Act of 1940," that the Government Obligations Fund, Ohio Tax Free Obligations Fund, Prime Obligations Fund, Tax Free Obligations Fund, Treasury Obligations Fund, and Treasury Reserve Fund of the First American Funds, Inc. (referred to collectively as the Funds) complied with the requirements of subsections (b) and (c) of Rule 17f-2 of the Investment Company Act of 1940 as of April 30, 2002 with respect to securities and similar investments reflected in the investment accounts of the Funds. Management is responsible for the Funds' compliance with those requirements. Our responsibility is to express an opinion on management's assertion based on our examination. Our examination was conducted in accordance with attestation standards established by the American Institute of Certified Public Accountants and, accordingly, included examining, on a test basis, evidence about the Funds' compliance with those requirements and performing such other procedures as we considered necessary in the circumstances. Included among our procedures were the following tests performed as of April 30, 2002, and with respect to agreement of security and similar investments purchases and sales, for the period from January 31, 2002 (the date of last examination) through April 30, 2002: - Count and inspection of all securities and similar investments located in the vault of U.S. Bancorp National Association (the Custodian) in Milwaukee, Wisconsin, without prior notice to management; - Confirmation of all securities and similar investments held by institutions in book entry form (Federal Reserve Bank of Milwaukee, Bank of New York, and Depository Trust Company); - Confirmation of all securities and similar investments hypothecated, pledged, placed in escrow, or out for transfer with brokers, pledgees, and/or transfer agents; - Reconciliation of confirmation results as to all such securities and investments to the books and records of the Funds and the Custodian; - Confirmation of all repurchase agreements with brokers/banks and agreement of underlying collateral with the Custodian's records; and - Agreement of two security and/or investment purchases and two security and/or investment sales or maturities since our last examination from the books and records of the Funds to broker confirmations. We believe that our examination provides a reasonable basis for our opinion. Our examination does not provide a legal determination on the Fund's compliance with specified requirements. In our opinion, management's assertion that the Funds complied with the requirements of subsections (b) and (c) of Rule 17f-2 of the Investment Company Act of 1940 as of April 30, 2002, with respect to securities and similar investments reflected in the investment accounts of the Funds, is fairly stated, in all material respects. This report is intended solely for the information and use of the board of directors and management of the Funds 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/ Ernst & Young LLP Minneapolis, Minnesota July 8, 2002 2 Report of Independent Accountants The Board of Directors First American Investment Funds, Inc. We have examined management's assertion, included in the accompanying "Report of Management on Compliance with Rule 17f-2 of the Investment Company Act of 1940," that the Equity Index Fund, Mid Cap Index Fund, Small Cap Index Fund, Health Sciences Fund, Real Estate Securities Fund, Science & Technology Fund, Technology Fund, Micro Cap Fund, Small Cap Growth Fund, Small Cap Value Fund, Small Cap Core Fund, Mid Cap Growth Fund, Mid Cap Value Fund, Mid Cap Core Fund, Capital Growth Fund, Large Cap Growth Fund, Relative Value Fund, Large Cap Value Fund, Large Cap Core Fund, Growth & Income Fund, Balanced Fund, Equity Income Fund, Bond IMMDEX Fund, Corporate Bond Fund, Fixed Income Fund, High Yield Bond Fund, Intermediate Term Bond Fund, Short Term Bond Fund, Strategic Income Fund, U.S. Government Securities Fund, Arizona Tax Free Fund, California Intermediate Tax Free Fund, California Tax Free Fund, Colorado Intermediate Tax Free Fund, Colorado Tax Free Fund, Intermediate Tax Free Fund, Minnesota Intermediate Tax Free Fund, Minnesota Tax Free Fund, Missouri Tax Free Fund, Nebraska Tax Free Fund, Oregon Intermediate Tax Free Fund, and Tax Free Fund of First American Investment Funds, Inc. (referred to collectively as the Funds) complied with the requirements of subsections (b) and (c) of Rule 17f-2 of the Investment Company Act of 1940 as of April 30, 2002 with respect to securities and similar investments reflected in the investment accounts of the Funds. Management is responsible for the Funds' compliance with those requirements. Our responsibility is to express an opinion on the Funds' compliance based on our examination. Our examination was conducted in accordance with attestation standards established by the American Institute of Certified Public Accountants and, accordingly, included examining, on a test basis, evidence about the Funds' compliance with those requirements and performing such other procedures as we considered necessary in the circumstances. Included among our procedures were the following tests performed as of April 30, 2002, and with respect to agreement of security and similar investments purchases and sales, for the period from January 31, 2002 (the date of last examination) through April 30, 2002: - Count and inspection of all securities and similar investments located in the vault of U.S. Bank (the Custodian) in Milwaukee, Wisconsin, without prior notice to management; - Confirmation of all securities and similar investments held by institutions in book entry form (Federal Reserve Bank of Milwaukee, Bank of New York, and Depository Trust Company); - Confirmation of all securities and similar investments hypothecated, pledged, placed in escrow, or out for transfer with brokers, pledgees, and/or transfer agents; - Reconciliation of confirmation results as to all such securities and investments to the books and records of the Funds and the Custodian; - Confirmation of all repurchase agreements with brokers/banks and agreement of underlying collateral with the Custodian's records; and - Agreement of six security and/or investment purchases and six security and/or investment sales or maturities since our last examination from the books and records of the Funds to broker confirmations. We believe that our examination provides a reasonable basis for our opinion. Our examination does not provide a legal determination on the Fund's compliance with specified requirements. In our opinion, management's assertion that the Funds complied, in all material respects, with the requirements of subsections (b) and (c) of Rule 17f-2 of the Investment Company Act of 1940 as of April 30, 2002, with respect to securities and similar investments reflected in the investment accounts of the Funds, is fairly stated, in all material respects. This report is intended solely for the information and use of the board of directors and management of the Funds 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/ Ernst & Young LLP Minneapolis, Minnesota July 8, 2002 2 Report of Independent Accountants The Board of Directors First American Strategy Funds, Inc. We have examined management's assertion, included in the accompanying "Report of Management on Compliance with Rule 17f-2 of the Investment Company Act of 1940," that the Strategy Aggressive Growth Allocation Fund, Strategy Global Growth Allocation Fund, Strategy Growth & Income Allocation Fund, Strategy Growth Allocation Fund, and Strategy Income Allocation Fund of the First American Strategy Funds, Inc. (referred to collectively as the Funds) complied with the requirements of subsections (b) and (c) of Rule 17f-2 of the Investment Company Act of 1940 as of April 30, 2002 with respect to securities and similar investments reflected in the investment account of the Funds. Management is responsible for the Funds' compliance with those requirements. Our responsibility is to express an opinion on the Funds' compliance based on our examination. Our examination was conducted in accordance with attestation standards established by the American Institute of Certified Public Accountants and, accordingly, included examining, on a test basis, evidence about the Funds' compliance with those requirements and performing such other procedures as we considered necessary in the circumstances. Included among our procedures were the following tests performed as of April 30, 2002, and with respect to agreement of security and similar investments purchases and sales, for the period from January 31, 2002 (the date of last examination) through April 30, 2002: - Confirmation of all securities and similar investments hypothecated, pledged, placed in escrow, or out for transfer with brokers, pledgees, and/or transfer agents; - Reconciliation of confirmation results as to all such securities and investments to the books and records of the Funds and the Custodian; - Agreement of one security and/or investment purchase and one security and/or investment sales or maturities since our last examination from the books and records of the Funds to broker confirmations. We believe that our examination provides a reasonable basis for our opinion. Our examination does not provide a legal determination on the Fund's compliance with specified requirements. In our opinion, management's assertion that the Funds complied, in all material respects, with the requirements of subsections (b) and (c) of Rule 17f-2 of the Investment Company Act of 1940 as of April 30, 2002, with respect to securities and similar investments reflected in the investment accounts of the Funds, is fairly stated, in all material respects. This report is intended solely for the information and use of the board of directors and management of the Funds 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/ Ernst & Young LLP Minneapolis, Minnesota July 8, 2002 2 Report of Management on Compliance With Rule 17f-2 of the Investment Company Act of 1940 July 8, 2002 I, as a member of management of the Government Obligations Fund, Ohio Tax Free Obligations Fund, Prime Obligations Fund, Tax Free Obligations Fund, Treasury Obligations Fund, and Treasury Reserve Fund of the First American Funds, Inc. (referred to collectively as the Funds), am responsible for complying with the requirements of subsections (b) and (c) of Rule 17f-2, "Custody of Investments by Registered Management Investment Companies," of the Investment Company Act of 1940. I am also responsible for establishing and maintaining effective internal control over compliance with those requirements. I have performed an evaluation of the Funds' compliance with the requirements of subsections (b) and (c) of Rule 17f-2 as of April 30, 2002. Based on this evaluation, I assert that the Funds were in compliance with the requirements of subsections (b) and (c) of Rule 17f-2 of the Investment Company Act of 1940 as of April 30, 2002 with respect to securities and similar investments reflected in the investment account of the Funds. By: /s/ Robert H. Nelson ----------------------------- Robert H. Nelson Chief Operating Officer U.S. Bancorp Asset Management, Inc. Report of Management on Compliance With Rule 17f-2 of the Investment Company Act of 1940 July 8, 2002 I, as a member of management of the Equity Index Fund, Mid Cap Index Fund, Small Cap Index Fund, Health Sciences Fund, Real Estate Securities Fund, Science & Technology Fund, Technology Fund, Micro Cap Fund, Small Cap Growth Fund, Small Cap Value Fund, Small Cap Core Fund, Mid Cap Growth Fund, Mid Cap Value Fund, Mid Cap Core Fund, Capital Growth Fund, Large Cap Growth Fund, Relative Value Fund, Large Cap Value Fund, Large Cap Core Fund, Growth & Income Fund, Balanced Fund, Equity Income Fund, Bond IMMDEX Fund, Corporate Bond Fund, Fixed Income Fund, High Yield Bond Fund, Intermediate Term Bond Fund, Short Term Bond Fund, Strategic Income Fund, U.S. Government Securities Fund, Arizona Tax Free Fund, California Intermediate Tax Free Fund, California Tax Free Fund, Colorado Intermediate Tax Free Fund, Colorado Tax Free Fund, Intermediate Tax Free Fund, Minnesota Intermediate Tax Free Fund, Minnesota Tax Free Fund, Missouri Tax Free Fund, Nebraska Tax Free Fund, Oregon Intermediate Tax Free Fund, and Tax Free Fund of First American Investment Funds, Inc. (referred to collectively as the Funds), am responsible for complying with the requirements of subsections (b) and (c) of Rule 17f-2, "Custody of Investments by Registered Management Investment Companies," of the Investment Company Act of 1940. I am also responsible for establishing and maintaining effective internal control over compliance with those requirements. I have performed an evaluation of the Funds' compliance with the requirements of subsections (b) and (c) of Rule 17f-2 as of April 30, 2002. Based on this evaluation, I assert that the Funds were in compliance with the requirements of subsections (b) and (c) of Rule 17f-2 of the Investment Company Act of 1940 as of April 30, 2002 with respect to securities and similar investments reflected in the investment accounts of the Funds. By: /s/ Robert H. Nelson ------------------------------ Robert H. Nelson Chief Operating Officer U.S. Bancorp Asset Management, Inc. Report of Management on Compliance With Rule 17f-2 of the Investment Company Act of 1940 July 8, 2002 I, as a member of management of the Strategy Aggressive Allocation Fund, Strategy Global Growth Allocation Fund, Strategy Growth & Income Allocation Fund, Strategy Growth Allocation Fund, and Strategy Income Allocation Fund of the First American Strategy Funds, Inc. (referred to collectively as the Funds), am responsible for complying with the requirements of subsections (b) and (c) of Rule 17f-2, "Custody of Investments by Registered Management Investment Companies," of the Investment Company Act of 1940. I am also responsible for establishing and maintaining effective internal control over compliance with those requirements. I have performed an evaluation of the Funds' compliance with the requirements of subsections (b) and (c) of Rule 17f-2 as of April 30, 2002. Based on this evaluation, I assert that the Funds were in compliance with the requirements of subsections (b) and (c) of Rule 17f-2 of the Investment Company Act of 1940 as of April 30, 2002 with respect to securities and similar investments reflected in the investment account of the Funds. By: /s/ Robert H. Nelson ----------------------------- Robert H. Nelson Chief Operating Officer U.S. Bancorp Asset Management, Inc. -----END PRIVACY-ENHANCED MESSAGE-----