0000716836-13-000004.txt : 20130301 0000716836-13-000004.hdr.sgml : 20130301 20130228175040 ACCESSION NUMBER: 0000716836-13-000004 CONFORMED SUBMISSION TYPE: NSAR-B PUBLIC DOCUMENT COUNT: 4 CONFORMED PERIOD OF REPORT: 20121231 FILED AS OF DATE: 20130301 DATE AS OF CHANGE: 20130228 EFFECTIVENESS DATE: 20130301 FILER: COMPANY DATA: COMPANY CONFORMED NAME: OPPENHEIMER ROCHESTER FUND MUNICIPALS CENTRAL INDEX KEY: 0000093621 IRS NUMBER: 160473255 STATE OF INCORPORATION: MA FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: NSAR-B SEC ACT: 1940 Act SEC FILE NUMBER: 811-03614 FILM NUMBER: 13653908 BUSINESS ADDRESS: STREET 1: 350 LINDEN OAKS CITY: ROCHESTER STATE: NY ZIP: 14625-2807 BUSINESS PHONE: 7163838700 MAIL ADDRESS: STREET 1: 350 LINDEN OAKS CITY: ROCHESTER STATE: NY ZIP: 14625-2807 FORMER COMPANY: FORMER CONFORMED NAME: ROCHESTER FUND MUNICIPALS DATE OF NAME CHANGE: 19920703 FORMER COMPANY: FORMER CONFORMED NAME: ROCHESTER FUND MUNICIPALS INC DATE OF NAME CHANGE: 19920521 FORMER COMPANY: FORMER CONFORMED NAME: MARTEK INVESTORS INC/NY DATE OF NAME CHANGE: 19860302 0000093621 S000008503 OPPENHEIMER ROCHESTER FUND MUNICIPALS C000023347 A C000023348 B C000023349 C C000023350 Y NSAR-B 1 answer.fil ROCHESTER FUND MUNICIPALS PAGE 1 000 B000000 12/31/2012 000 C000000 0000093621 000 D000000 N 000 E000000 NF 000 F000000 Y 000 G000000 N 000 H000000 N 000 I000000 6.1 000 J000000 A 001 A000000 ROCHESTER FUND MUNICIPALS 001 B000000 811-3614 001 C000000 3037683468 002 A000000 6803 South Tucson Way 002 B000000 Centennial 002 C000000 CO 002 D010000 80112 002 D020000 3924 003 000000 N 004 000000 N 005 000000 N 006 000000 N 007 A000000 N 007 B000000 0 007 C010100 1 008 A000001 OPPENHEIMERFUNDS, INC 008 B000001 A 008 C000001 801-8253 008 D010001 NEW YORK 008 D020001 NY 008 D030001 10281 008 D040001 1008 011 A000001 OPPENHEIMERFUNDS DISTRIBUTOR, INC 011 B000001 8-22992 011 C010001 NEW YORK 011 C020001 NY 011 C030001 10281 011 C040001 1008 012 A000001 OPPENHEIMERFUNDS, INC 012 B000001 84-01562 012 C010001 CENTENNIAL 012 C020001 CO 012 C030001 80112 013 A000001 KPMG LLP 013 B010001 DENVER 013 B020001 CO 013 B030001 80202 015 A000001 CITIBANK N.A. 015 B000001 C 015 C010001 NEW YORK 015 C020001 NY 015 C030001 10005 PAGE 2 015 E010001 X 018 000000 Y 019 A000000 Y 019 B000000 86 019 C000000 OPPENHEIMR 021 000000 0 022 A000001 CITIGROUP GLOBAL MARKETS INC. 022 B000001 11-2418191 022 C000001 185086 022 D000001 31450 022 A000002 BARCLAYS CAPITAL, INC. 022 B000002 06-1031656 022 C000002 145612 022 D000002 60636 022 A000003 JP MORGAN SECURITIES, LLC 022 B000003 13-3224016 022 C000003 70657 022 D000003 15450 022 A000004 MORGAN STANLEY & CO, LLC 022 B000004 13-2655998 022 C000004 71150 022 D000004 0 022 A000005 MERRILL LYNCH, PIERCE, FENNER & SMITH INC. 022 B000005 13-5674085 022 C000005 32427 022 D000005 6372 022 A000006 JANNEY MONTGOMERY SCOTT LLC 022 B000006 23-0731260 022 C000006 15476 022 D000006 19362 022 A000007 WILLIAM BLAI & COMPANY LLC 022 B000007 36-2214610 022 C000007 5877 022 D000007 27159 022 A000008 HAPOALIM SECURITIES USA, INC. 022 B000008 13-3732556 022 C000008 10033 022 D000008 20726 022 A000009 GOLDMAN SACHS & CO 022 B000009 13-5108880 022 C000009 18242 022 D000009 12139 022 A000010 U.S. BANCORP INVESTMENTS, INC. 022 B000010 41-1233380 022 C000010 12259 022 D000010 12000 023 C000000 566819 023 D000000 205294 024 000000 N 026 A000000 N 026 B000000 Y PAGE 3 026 C000000 N 026 D000000 Y 026 E000000 N 026 F000000 N 026 G010000 N 026 G020000 N 026 H000000 N 027 000000 Y 028 A010000 90146 028 A020000 30120 028 A030000 0 028 A040000 75990 028 B010000 84314 028 B020000 30023 028 B030000 0 028 B040000 95588 028 C010000 66530 028 C020000 30281 028 C030000 0 028 C040000 77752 028 D010000 81364 028 D020000 30331 028 D030000 0 028 D040000 76085 028 E010000 104189 028 E020000 30345 028 E030000 0 028 E040000 75658 028 F010000 93644 028 F020000 50147 028 F030000 0 028 F040000 175455 028 G010000 520187 028 G020000 201247 028 G030000 0 028 G040000 576528 028 H000000 363454 029 000000 Y 030 A000000 12055 030 B000000 4.75 030 C000000 0.00 031 A000000 1707 031 B000000 0 032 000000 10348 033 000000 0 034 000000 Y 035 000000 294 036 A000000 N 036 B000000 0 037 000000 N 038 000000 0 PAGE 4 039 000000 N 040 000000 Y 041 000000 Y 042 A000000 0 042 B000000 0 042 C000000 0 042 D000000 0 042 E000000 0 042 F000000 0 042 G000000 0 042 H000000 0 043 000000 22307 044 000000 70216 045 000000 Y 046 000000 N 047 000000 Y 048 000000 0.000 048 A010000 100000 048 A020000 0.540 048 B010000 150000 048 B020000 0.520 048 C010000 1750000 048 C020000 0.470 048 D010000 3000000 048 D020000 0.460 048 E010000 3000000 048 E020000 0.450 048 F010000 6000000 048 F020000 0.440 048 G010000 0 048 G020000 0.000 048 H010000 0 048 H020000 0.000 048 I010000 0 048 I020000 0.000 048 J010000 0 048 J020000 0.000 048 K010000 14000000 048 K020000 0.420 049 000000 N 050 000000 N 051 000000 N 052 000000 N 053 A000000 Y 053 B000000 Y 053 C000000 N 054 A000000 Y 054 B000000 Y 054 C000000 Y 054 D000000 N 054 E000000 N PAGE 5 054 F000000 N 054 G000000 Y 054 H000000 Y 054 I000000 N 054 J000000 Y 054 K000000 N 054 L000000 Y 054 M000000 Y 054 N000000 N 054 O000000 Y 055 A000000 N 055 B000000 Y 056 000000 Y 057 000000 N 058 A000000 N 059 000000 Y 060 A000000 Y 060 B000000 Y 061 000000 1000 062 A000000 Y 062 B000000 0.0 062 C000000 0.0 062 D000000 0.0 062 E000000 0.0 062 F000000 0.0 062 G000000 0.0 062 H000000 0.0 062 I000000 0.0 062 J000000 0.0 062 K000000 0.0 062 L000000 0.0 062 M000000 0.0 062 N000000 0.0 062 O000000 110.8 062 P000000 0.0 062 Q000000 0.0 062 R000000 0.1 063 A000000 0 063 B000000 5.2 064 A000000 Y 064 B000000 Y 065 000000 N 066 A000000 N 066 B000000 N 066 C000000 N 066 D000000 N 066 E000000 N 066 F000000 N 066 G000000 N 067 000000 N 068 A000000 N PAGE 6 068 B000000 N 069 000000 N 070 A010000 Y 070 A020000 N 070 B010000 N 070 B020000 N 070 C010000 Y 070 C020000 N 070 D010000 N 070 D020000 N 070 E010000 Y 070 E020000 N 070 F010000 N 070 F020000 N 070 G010000 Y 070 G020000 N 070 H010000 N 070 H020000 N 070 I010000 N 070 I020000 N 070 J010000 Y 070 J020000 N 070 K010000 Y 070 K020000 N 070 L010000 N 070 L020000 N 070 M010000 N 070 M020000 N 070 N010000 Y 070 N020000 N 070 O010000 Y 070 O020000 Y 070 P010000 Y 070 P020000 Y 070 Q010000 N 070 Q020000 N 070 R010000 Y 070 R020000 N 071 A000000 1047848 071 B000000 819064 071 C000000 8471141 071 D000000 10 072 A000000 12 072 B000000 522437 072 C000000 0 072 D000000 0 072 E000000 3 072 F000000 36816 072 G000000 2 072 H000000 0 072 I000000 2569 PAGE 7 072 J000000 59 072 K000000 0 072 L000000 0 072 M000000 129 072 N000000 117 072 O000000 0 072 P000000 11216 072 Q000000 2402 072 R000000 53 072 S000000 96 072 T000000 22465 072 U000000 0 072 V000000 0 072 W000000 3895 072 X000000 79819 072 Y000000 0 072 Z000000 442621 072AA000000 15065 072BB000000 0 072CC010000 489928 072CC020000 0 072DD010000 384065 072DD020000 5745 072EE000000 0 073 A010000 0.9890 073 A020000 0.8316 073 B000000 0.0000 073 C000000 0.0000 074 A000000 17355 074 B000000 0 074 C000000 0 074 D000000 9133992 074 E000000 0 074 F000000 4483 074 G000000 0 074 H000000 0 074 I000000 0 074 J000000 5734 074 K000000 0 074 L000000 149478 074 M000000 883 074 N000000 9311925 074 O000000 96824 074 P000000 3091 074 Q000000 0 074 R010000 0 074 R020000 0 074 R030000 0 074 R040000 969881 074 S000000 0 074 T000000 8242129 PAGE 8 074 U010000 395019 074 U020000 5560 074 V010000 17.02 074 V020000 17.00 074 W000000 0.0000 074 X000000 120180 074 Y000000 1258086 075 A000000 0 075 B000000 7997902 076 000000 0.00 077 A000000 Y 077 B000000 Y 077 C000000 N 077 D000000 N 077 E000000 Y 077 F000000 N 077 G000000 N 077 H000000 N 077 I000000 N 077 J000000 N 077 K000000 N 077 L000000 N 077 M000000 N 077 N000000 N 077 O000000 N 077 P000000 N 077 Q010000 N 077 Q020000 N 077 Q030000 N 078 000000 N 080 A000000 ICI Mutual Insurance Co. 080 C000000 130000 081 A000000 Y 081 B000000 123 082 A000000 N 082 B000000 0 083 A000000 N 083 B000000 0 084 A000000 N 084 B000000 0 085 A000000 Y 085 B000000 N 086 A010000 0 086 A020000 0 086 B010000 0 086 B020000 0 086 C010000 0 086 C020000 0 086 D010000 0 086 D020000 0 086 E010000 0 PAGE 9 086 E020000 0 086 F010000 0 086 F020000 0 SIGNATURE BRIAN W. WIXTED TITLE TREASURER EX-23 2 form_ex23-365.htm ROCHESTER FUND MUNICIPALS form_ex23-365.htm
 
 
 

Report of Independent Registered Public Accounting Firm
 
The Board of Trustees and Shareholders
Rochester Fund Municipals:

In planning and performing our audit of the financial statements of Rochester Fund Municipals (the Fund) as of and for the year ended December 31, 2012, in accordance with the standards of the Public Company Accounting Oversight Board (United States), we considered the Fund’s internal control over financial reporting, including controls over 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-SAR, 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 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 the company’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 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 a combination of deficiencies, in internal control over financial reporting, such that there is a reasonable possibility that a material misstatement of the Fund’s annual or interim financial statements will not be prevented or detected on a timely basis.
 
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 over safeguarding securities, that we consider to be a material weakness as defined above as of December 31, 2012.
 
This report is intended solely for the information and use of management and the Board of Trustees of Rochester Fund Municipals and the Securities and Exchange Commission, and is not intended to be and should not be used by anyone other than these specified parties.
 

 
KPMG LLP
 
Denver, Colorado
February 19, 2013

 
 
 

EX-99.77E LEGAL 3 form_ex77e-365.htm ROCHESTER FUND MUNICIPALS form_ex77e-365.htm
 
 
 

N-SAR EXHIBIT 77E

ROCHESTER FUND MUNICIPALS

Pending Litigation.  Since 2009, a number of class action lawsuits have been pending in federal and state courts against OppenheimerFunds, Inc., the Fund’s Adviser through December 31, 2012 and Sub-Adviser effective January 1, 2013 (the “Manager”), OppenheimerFunds Distributor, Inc., the Fund’s principal underwriter and distributor (the “Distributor”), and certain funds – including the Fund – advised by the Manager and distributed by the Distributor (the “Defendant Funds”).  Several of these lawsuits also name as defendants certain officers and current and former trustees of the respective Defendant Funds.  The lawsuits raise claims under federal securities law and allege, among other things, that the disclosure documents of the respective Defendant Funds contained misrepresentations and omissions and that the respective Defendant Funds’ investment policies were not followed.  The plaintiffs in these actions seek unspecified damages, equitable relief and awards of attorneys’ fees and litigation expenses.  The Defendant Funds’ Boards of Trustees have also engaged counsel to represent the Funds and the present and former Independent Trustees named in those suits.
 
Other class action and individual lawsuits have been filed since 2008 in various state and federal courts against the Manager and certain of its affiliates by investors seeking to recover investments they allegedly lost as a result of the “Ponzi” scheme run by Bernard L. Madoff and his firm, Bernard L. Madoff Investment Securities, LLC (“BLMIS”).  Plaintiffs in these suits allege that they suffered losses as a result of their investments in several funds managed by an affiliate of the Manager and assert a variety of claims, including breach of fiduciary duty, fraud, negligent misrepresentation, unjust enrichment, and violation of federal and state securities laws and regulations, among others.  They seek unspecified damages, equitable relief and awards of attorneys’ fees and litigation expenses.  Neither the Distributor, nor any of the Oppenheimer mutual funds, their independent trustees or directors are named as defendants in these lawsuits.  None of the Oppenheimer mutual funds invested in any funds or accounts managed by Madoff or BLMIS.  On February 28, 2011, a stipulation of partial settlement of three groups of consolidated putative class action lawsuits relating to these matters was filed in the U.S. District Court for the Southern District of New York.  On August 19, 2011, the court entered an order and final judgment approving the settlement as fair, reasonable and adequate.  In September 2011, certain parties filed notices of appeal from the court’s order approving the settlement.  The settlement does not resolve other outstanding lawsuits against the Manager and its affiliates relating to BLMIS.
 
On April 16, 2010, a lawsuit was filed in New York state court against the Manager, an affiliate of the Manager and AAArdvark IV Funding Limited (“AAArdvark IV”), an entity advised by the Manager’s affiliate, in connection with investments made by the plaintiffs in AAArdvark IV.  Plaintiffs allege breach of contract against the defendants and seek compensatory damages, costs and disbursements, including attorney fees.  On July 15, 2011, a lawsuit was filed in New York state court against the Manager, an affiliate of the Manager and AAArdvark Funding Limited (“AAArdvark I”), an entity advised by the Manager’s affiliate, in connection with investments made by the plaintiffs in AAArdvark I.  The complaint alleges breach of contract against the defendants and seeks compensatory damages, costs and disbursements, including attorney fees.  On November 9, 2011, a lawsuit was filed in New York state court against the Manager, an affiliate of the Manager and AAArdvark XS Funding Limited (“AAArdvark XS”), an entity advised by the Manager’s affiliate, in connection with investments made by the plaintiffs in AAArdvark XS.  The complaint alleges breach of contract against the defendants and seeks compensatory damages, costs and disbursements, including attorney fees.
 
The Manager believes the lawsuits and appeals described above are without legal merit and, with the exception of actions it has settled, is defending against them vigorously.  While it is premature to render any opinion as to the outcome in these lawsuits, or whether any costs that the Defendant Funds may bear in defending the suits might not be reimbursed by insurance, the Manager believes that these suits should not impair the ability of the Manager or the Distributor to perform their respective duties to the Fund, and that the outcome of all of the suits together should not have any material effect on the operations of any of the Oppenheimer mutual funds.
 










 
 
 

EX-99 4 form_ex99a-365.htm ROCHESTER FUND MUNICIPALS form_ex99a-365.htm
 
 
 

Net investment income (loss) and net realized gain (loss) may differ for financial statement
and tax purposes. The character of dividends and distributions made during the fiscal year
from net investment income or net realized gains may differ from their ultimate
characterization for federal income tax purposes. Also, due to timing of dividends and
distributions, the fiscal year in which amounts are distributed may differ from the fiscal
year in which the income or net realized gain was recorded by the Fund.

Accordingly, the following amounts have been reclassified for December 31, 2012. Net
assets of the Fund were unaffected by the reclassifications.
 
Increase                                Increase
to Accumulated                    to Accumulated Net
Net Investment                     Realized Loss
Income                                   on Investments
-----------------------------------------------------------------------------------------------------------
$6,498,339                                $6,498,33