-----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, HEmqpbgBzKs6ta2ezvGZOf7RoZzWe6ra5xjtNZRQVsqt/aXOLUR6E9Ls4SBPppHJ WeZhwOu7kDwpLe8LBPqw5A== 0000093832-04-000005.txt : 20040309 0000093832-04-000005.hdr.sgml : 20040309 20040309142157 ACCESSION NUMBER: 0000093832-04-000005 CONFORMED SUBMISSION TYPE: N-CSR PUBLIC DOCUMENT COUNT: 3 CONFORMED PERIOD OF REPORT: 20031231 FILED AS OF DATE: 20040309 EFFECTIVENESS DATE: 20040309 FILER: COMPANY DATA: COMPANY CONFORMED NAME: CAPITAL CASH MANAGEMENT TRUST CENTRAL INDEX KEY: 0000093832 IRS NUMBER: 132780114 STATE OF INCORPORATION: MA FISCAL YEAR END: 0630 FILING VALUES: FORM TYPE: N-CSR SEC ACT: 1940 Act SEC FILE NUMBER: 811-02481 FILM NUMBER: 04656944 BUSINESS ADDRESS: STREET 1: 380 MADISON AVE STREET 2: STE 2300 CITY: NEW YORK STATE: NY ZIP: 10017 BUSINESS PHONE: 2126976666 MAIL ADDRESS: STREET 1: 380 MADISON AVENUE STREET 2: SUITE 2300 CITY: NEW YORK STATE: NY ZIP: 10017 FORMER COMPANY: FORMER CONFORMED NAME: CENTENNIAL CAPITAL CASH MANAGEMENT TRUST DATE OF NAME CHANGE: 19820921 FORMER COMPANY: FORMER CONFORMED NAME: STCM CORP DATE OF NAME CHANGE: 19770201 N-CSR 1 ccmtformncsr1231.txt CAPITAL CASH MANAGEMENT TRUST 12/31/2003 SEMI ANNUAL REPORTS UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM N-CSR CERTIFIED SHAREHOLDER REPORT OF REGISTERED MANAGEMENT INVESTMENT COMPANIES Investment Company Act file number 811-2481 Capital Cash Management Trust \ (Exact name of Registrant as specified in charter) 380 Madison Avenue New York, New York 10017 (Address of principal executive offices) (Zip code) Joseph P. DiMaggio 380 Madison Avenue New York, New York 10017 (Name and address of agent for service) Registrant's telephone number, including area code: (212) 697-6666 Date of fiscal year end: 6/30 Date of reporting period: 12/31/03 FORM N-CSR ITEM 1. REPORTS TO STOCKHOLDERS. SEMI-ANNUAL REPORT DECEMBER 31, 2003 CAPITAL CASH MANAGEMENT TRUST CAPITAL CASH MANAGEMENT TRUST STATEMENT OF ASSETS AND LIABILITIES DECEMBER 31, 2003 (UNAUDITED) ASSETS: Cash $ 481 Due from Administrator for reimbursement of expenses 7,149 ----------- Total Assets 7,630 ----------- LIABILITIES: Dividend payable 746 Accrued expenses 5,883 ---------- Total Liabilities 6,629 ---------- NET ASSETS (equivalent to $1.00 per share on 1,001 shares outstanding) $ 1,001 ===== NET ASSETS CONSIST OF: Capital Stock - Authorized an unlimited number of shares, par value $.01 per share $ 10 Additional paid-in capital 1,725 Overdistributed net investment income (719) Accumulated net realized loss on investments (15) -------- $ 1,001 ====== SHARES OF BENEFICIAL INTEREST: Original Shares Class: Net Assets $ 1,001 ===== Shares outstanding 1 ==== Net asset value per share $ 1.00 ====== See accompanying notes to financial statements. CAPITAL CASH MANAGEMENT TRUST STATEMENT OF OPERATIONS FOR THE SIX MONTHS ENDED DECEMBER 31, 2003 (UNAUDITED) INVESTMENT INCOME: Interest income $ 9,060 -------- EXPENSES: Investment Adviser fees (note 3) 1,785 Administrator fees (note 3) 1,339 Legal fees 16,955 Trustees' fees and expenses 10,404 Auditing and tax 2,304 Custodian fees 2,068 Registration fees and dues 1,824 Shareholders' reports 625 Transfer and shareholder servicing agent fees 93 Insurance 71 Miscellaneous 3,498 -------- Total expenses 40,966 Investment Advisory fees waived (note 3) (1,785) Administration fees waived (note 3) (1,339) Reimbursement of expenses by Administrator (note 3) (35,525) Expenses paid indirectly (note 5) (52) -------- Net expenses 2,265 -------- Net investment income 6,795 -------- Net increase in net assets resulting from operations $6,795 ======== See accompanying notes to financial statements. CAPITAL CASH MANAGEMENT TRUST STATEMENTS OF CHANGES IN NET ASSETS
Six Months Ended December 31, 2003 Year Ended (unaudited) June 30, 2003 ------------- ------------- INCREASE (DECREASE) IN NET ASSETS OPERATIONS: Net investment income .............................. $ 6,795 $ 19,894 Net realized loss from securities transactions ..... - - ----------- ---------- Change in net assets resulting from operations ..... 6,795 19,894 ----------- ---------- DIVIDENDS TO SHAREHOLDERS FROM NET INVESTMENT INCOME: Original Shares .................................... (6,795) (19,894) ----------- ----------- CAPITAL SHARE TRANSACTIONS (at $1.00 per share): Proceeds from shares sold: Original Shares ................................. 4,109,574 4,112,943 Reinvested dividends and distributions: Original Shares ................................. 6,214 21,466 Cost of shares redeemed: Original Shares ................................. (5,878,653) (3,925,694) ----------- ----------- Change in net assets from capital share transactions .................................... ( 1,762,865) 208,715 ----------- ----------- Total change in net assets ............................ (1,762,865 ) 208,715 NET ASSETS: Beginning of period ................................ 1,763,866 1,555,151 ---------- --------- End of period ...................................... $1,001 $1,763,866 ========= ========
See accompanying notes to financial statements. CAPITAL CASH MANAGEMENT TRUST NOTES TO FINANCIAL STATEMENTS 1. ORGANIZATION Capital Cash Management Trust (the "Trust") is a Massachusetts business trust established on August 20, 1976 as a successor to the money-market fund, the STCM Corporation, which commenced operations on July 8, 1974. It is registered under the Investment Company Act of 1940 (the "1940 Act") as an open-end investment company. The Trust consists of the following two investment portfolios: Capital Cash Management Trust (the "Fund", a diversified portfolio which commenced operations on July 8, 1974), and Capital Cash U.S. Government Securities Trust (a diversified portfolio which commenced operations on March 16, 2000 and ceased operations on December 10,2002). The financial statements included herein are solely those of the Fund. The Trust is authorized to issue for each Fund an unlimited number of shares of $0.01 par value in two classes of shares: the Original Shares Class and the Service Shares Class. As of the report date there were no Service Shares outstanding. The Original Shares Class of the Cash Fund includes all currently outstanding shares that were issued prior to November 1, 1999, the date on which the Capital structure was changed to include two classes rather than one. The two classes are substantially identical, except that Service Shares bear the fees that are payable under the Trust's Distribution Plan. The Trust ceased operations on December 2, 2003 inasmuch as all shares outstanding, except for 1,001shares owned by Aquila Management Corporation, or redeemed by shareholders. Although the Fund is not conducting a public offering of its shares, it will continue to exist as a Massachusetts Business Trust and maintain its registration as an investment company. 2. SIGNIFICANT ACCOUNTING POLICIES The following is a summary of significant accounting policies followed by the Fund in the preparation of its financial statements. The policies are in conformity with accounting principles generally accepted in the United States of America for investment companies. a) PORTFOLIO VALUATION: The Fund's portfolio securities are valued by the amortized cost method permitted in accordance with Rule 2a-7 under the 1940 Act, which, after considering accrued interest thereon, approximates market. Under this method, a portfolio security is valued at cost adjusted for amortization of premiums and accretion of discounts. Amortization of premiums and accretion of discounts are included in interest income. b) SECURITIES TRANSACTIONS AND RELATED INVESTMENT INCOME: Securities transactions are recorded on the trade date. Realized gains and losses from securities transactions are reported on the identified cost basis. Interest income is recorded daily on the accrual basis and is adjusted for amortization of premiums and accretion of discounts as discussed in the preceding paragraph. c) DETERMINATION OF NET ASSET VALUE AND CALCULATION OF EXPENSES: The net asset value per share for each class of the Fund's shares is determined as of 4:00 p.m. New York time on each day that the New York Stock Exchange is open by dividing the value of the assets of the Fund allocable to that class less Fund liabilities allocable to the class and any liabilities charged directly to the class, exclusive of surplus, by the total number of shares of the class outstanding. Investment income, realized and unrealized gains and losses, if any, and expenses other than class specific expenses, are allocated daily to each class of shares based upon the proportion of net assets of each class. d) FEDERAL INCOME TAXES: It is the policy of the Fund to qualify as a regulated investment company by complying with the provisions of the Internal Revenue Code applicable to certain investment companies. The Fund intends to make distributions of income and securities profits sufficient to relieve it from all, or substantially all, Federal income and excise taxes. e) REPURCHASE AGREEMENTS: It is the Fund's policy to monitor closely the creditworthiness of all firms with which it enters into repurchase agreements, and to take possession of, or otherwise perfect its security interest in, securities purchased under agreements to resell. The securities purchased under agreements to resell are marked to market every business day in order to compare the value of the collateral to the amount of the loan (repurchase agreements being defined as "loans" in the 1940 Act), including the accrued interest earned thereon. If the value of the collateral is less than 102% of the loan plus the accrued interest thereon, additional collateral is required from the borrower. f) USE OF ESTIMATES: The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of increases and decreases in net assets from operations during the reporting period. Actual results could differ from those estimates. 3. FEES AND RELATED PARTY TRANSACTIONS a) MANAGEMENT ARRANGEMENTS: STCM Management Company, Inc. (the "Adviser") is the Investment Adviser to the Trust. In this role, under the Advisory Agreement, the Adviser supervises the Fund's investments and provides various services for which it receives a fee from the Fund which is payable monthly and computed at the annual rate of 0.20% of the Fund's average daily net assets. The Trust also has an Administration Agreement with Aquila Management Corporation (the "Administrator") to provide all administrative services to the Trust other than those relating to the investment portfolio. The Administrator receives a fee from the Fund for such services which is payable monthly and computed at the annual rate of 0.15% of the Fund's average daily net assets. Details regarding the services provided by the Adviser and the Administrator are provided in the Trust's Prospectus and Statement of Additional Information. With respect to the Fund, the Adviser and the Administrator each has agreed that the above fees shall be reduced, but not below zero, by an amount equal to its proportionate share (determined on the basis of the respective fees computed as described above) of the amount, if any, by which the total expenses of the Fund in any fiscal year, exclusive of taxes, interest, and brokerage fees, shall exceed the lesser of (i) 1.5% of the first $30 million of its average annual net assets plus 1% of its average annual net assets in excess of $30 million, or (ii) 25% of its total annual investment income. For the six months ended December 31, 2003, the Adviser and the Administrator voluntarily waived their entire fees in the amount of $1,785 and $1,339, respectively. In addition, in order to comply with the expense limitation above, the Administrator reimbursed expenses in the amount of $35,525. Of this amount, $28,376 was paid prior to December 31, 2003 and the balance was paid in early January, 2004. b) DISTRIBUTION AND SERVICE FEES: The Fund has adopted a Distribution Plan (the "Plan") pursuant to Rule 12b-1 under the 1940 Act. A part of the Plan authorizes payment of certain distribution or service fees by the Service Shares Class of the Fund. Such payments are made to "Designated Payees" - broker-dealers, other financial institutions and service providers who have entered into appropriate agreements with the Distributor and which have rendered assistance in the distribution and/or retention of the Fund's Service Shares or in the servicing of Service Share accounts. The total payments under this part of a Fund's Plan may not exceed 0.25 of 1% of its average annual assets represented by Service Shares. No such payments will be made by the Original Share Class. No such expenses were incurred for the six months ended December 31, 2003. Specific details about each Plan, including parts that authorize certain payments not by the Fund, are more fully defined in the Prospectus and Statement of Additional Information of the Trust. Under a Distribution Agreement, Aquila Distributors, Inc. (the "Distributor") serves as the exclusive distributor of the Fund's shares. No compensation or fees are paid to the Distributor for such share distribution. c) OTHER RELATED PARTY TRANSACTIONS: For the six months ended December 31, 2003, the Fund incurred $16,955 of legal fees paid to Hollyer Brady Smith & Hines LLP, counsel to the Fund, for legal services in conjunction with the Fund's ongoing operations. The Secretary of the Fund is a Partner of Hollyer Brady Smith & Hines LLP. 4. DISTRIBUTIONS The Fund declares dividends daily from net investment income and makes payments monthly in additional shares at the net asset value per share, in cash, or in a combination of both, at the shareholder's option. Due to differences between financial statement reporting and Federal income tax reporting requirements, $719 has been charged to accumulated net investment loss and $719 credited to additional paid-in capital, reflecting a permanent adjustment to undistributed net investment income computed on a tax basis as of June 30, 2003. At June 30, 2003, the Fund had a capital loss carryover of $20 of which $5 expires in the year ended June 30, 2005 and $15 of which expires in the year ended June 30, 2011. This carryover is available to offset future net realized gains on securities transactions to the extent provided for in the Internal Revenue Code. To the extent that this loss is used to offset future realized capital gains, it is probable the gains so offset will not be distributed. The tax character of distributions paid by the Fund: Year Ended June 30, 2003 2002 -------- -------- Ordinary income $ 19,894 $ 38,864 ======== ======== As of June 30, 2003, the components of distributable earnings on a tax basis were as follows: Accumulated net realized loss $ 20 ==== 5. EXPENSES The Fund has negotiated an expense offset arrangement with the custodian wherein the Fund receives credit toward the reduction of custodian fees and other expenses whenever there are uninvested cash balances. The Statements of Operations reflect the total expenses before any offset, the amount of offset, if any, and the net expenses. It is the general intention of the Fund to invest, to the extent practicable, some or all of cash balances in income-producing assets rather than leave cash on deposit. 6. SUBSEQUENT EVENT Effective January 1, 2004, Aquila Management Corporation, assigned its Administration Agreement to its wholly-owned subsidiary, Aquila Investment Management LLC, which will continue the administration of the Fund. The transfer was made for reasons of corporate and tax planning and will have no effect on the management of the Fund or the fees being paid. CAPITAL CASH MANAGEMENT TRUST FINANCIAL HIGHLIGHTS FOR A SHARE OUTSTANDING THROUGHOUT EACH PERIOD
SIX MONTHS YEAR ENDED JUNE 30, ENDED 12/31/03 (unaudited) 2003 2002 2001 2000 1999 ------ ----- ------ ------ ------ ------- Net asset value, beginning of period $1.0000 $1.0000 $1.0000 $1.0000 $1.0000 $1.0000 ------- ------- ------- ------- ------- ------- Income from investment operations: Net investment income 0.0032 0.0107 0.0194 0.0540 0.0524 0.0473 ------- ------- ------- ------- ------- ------- Less distributions: Dividends from net investment income (0.0032) (0.0107) (0.0194) (0.0540) (0.0524) (0.0473) ------- ------- ------- ------- ------- ------- Net asset value, end of period $1.0000 $1.0000 $1.0000 $1.0000 $1.0000 $1.0000 ======= ======= ======= ======= ======= ======= Total return 0.32%+ 1.08% 1.96% 5.54% 5.37% 4.84% Ratios/supplemental data Net assets, end of period (in thousands) $1 $1,764 $1,555 $2,076 $1,699 $1,616 Ratio of expenses to average net assets 0.26%* 0.39% 0.41% 0.40% 0.41% 0.41% Ratio of net investment income to average net assets 0.76%* 1.03% 1.97% 5.40% 5.24% 4.72% The expense and net investment income ratios without the effect of the Adviser's and Administrator's voluntary waiver of fees and the Administrator's expense reimbursement were: Ratio of expenses to average net assets 4.58%* 4.86% 3.47% 3.45% 5.14% 3.51% Ratio of net investment income (loss) to average net assets (3.57)%* (3.43)% (1.09)% 2.35% 0.50% 1.62% The expense ratios after giving effect to the waivers, reimbursements and expense offset for uninvested cash balances were: Ratio of expenses to average net assets 0.25%* 0.36% 0.40% 0.40% 0.40% 0.40%
+ Not annualized. * Annualized. See accompanying notes to financial statements. SEMI-ANNUAL REPORT December 31, 2003 CAPITAL CASH U.S. GOVERNMENT SECURITIES TRUST CAPITAL CASH U.S. GOVERNMENT SECURITIES TRUST STATEMENT OF ASSETS AND LIABILITIES December 31, 2003 (unaudited) ASSETS: Cash $2,126 --------- Total Assets 2,126 --------- LIABILITIES: Accrued expenses 1,114 --------- Total Liabilities 1,114 --------- NET ASSETS (equivalent to $1.00 per share on 1,001 shares outstanding) $1,012 ====== NET ASSETS CONSIST OF: Capital Stock - Authorized an unlimited number of shares, par value $.01 per share $ 10 Additional paid-in capital 1,752 Accumulated net realized loss on investments (750) --------- $1,012 ====== SHARES OF BENEFICIAL INTEREST: Service Shares Class: Net Assets $ 1,012 ====== Shares outstanding 1,012 ====== Net asset value per share $ 1.00 ====== See accompanying notes to financial statements. CAPITAL CASH U.S. GOVERNMENT SECURITIES TRUST STATEMENT OF OPERATIONS FOR THE SIX MONTHS ENDED DECEMBER 31, 2003 (unaudited) The Trust had no operations during the year. CAPITAL CASH U.S. GOVERNMENT SECURITIES TRUST STATEMENTS OF CHANGES IN NET ASSETS Six Months Ended Year Ended December 31, 2003 June 30, 2003 (unaudited) INCREASE (DECREASE) IN NET ASSETS OPERATIONS: Net investment $- $695 income Net realized loss from - - securities transactions Change in net assets resulting from operations - 695 DIVIDENDS TO SHAREHOLDERS FROM NET INVESTMENT INCOME - (695) CAPITAL SHARE TRANSACTIONS Proceeds from shares sold: Service Shares - 221 Reinvested dividends and distributions: Service Shares - 596 Cost of shares redeemed: Service Shares - (116,172) Change in net assets from capital share transactions - (115,355) Total change in net assets - (115,355) NET ASSETS: Beginning of period 1,012 116,367 End of period $ 1,012 $ 1,012 See accompanying notes to financial statements. CAPITAL CASH U.S. GOVERNMENT SECURITIES TRUST NOTES TO FINANCIAL STATEMENTS (unaudited) Note A - Capital Cash Management Trust (the "Trust") is a Massachusetts business trust established on August 20, 1976 as a successor to the money-market fund, the STCM Corporation, which commenced operations on July 8, 1974. It is registered under the Investment Company Act of 1940 (the "1940 Act") as an open-end investment company. The Trust consists of the following two investment portfolios :Capital Cash Management Trust (a diversified portfolio which commenced operations on July 8, 1974 and ceased operations on December 2, 2003), and Capital Cash U.S. Government Securities Trust (the "Fund", a diversified portfolio which commenced operations on March 16, 2000). The financial statements included herein are solely those of the Fund. The Trust is authorized to issue for each Fund an unlimited number of shares of $0.01 par value in two classes of shares: the Original Shares Class and the Service Shares Class. The two classes are substantially identical, except that Service Shares bear the fees that are payable under the Trust's Distribution Plan. The Fund ceased operations on December 10, 2002 inasmuch as all shares outstanding, except for 1,012 shares owned by Aquila Management Corporation, or redeemed by shareholders. Although the Fund is not conducting a public offering of its shares, it will continue to exist as a Massachusetts Business Trust and maintain its registration as an investment company. Note B - Since inception, the Trust has qualified as a regulated investment company by complying with the provisions of the Internal Revenue Code applicable to certain investment companies. The Trust made distributions of income and security gains sufficient to relieve it from all, or substantially all, Federal income and excise taxes. CAPITAL CASH U.S. GOVERNMENT SECURITIES TRUST FINANCIAL HIGHLIGHTS FOR A SHARE OUTSTANDING THROUGHOUT EACH PERIOD
Period Six Months Ended Year Ended June 30, Ended(1) 12/31/03** 2003 2002 2001 6/30/00 (unaudited) Net asset value, beginning of period $1.0000 $1.0000 $1.0000 $1.0000 $1.0000 Income from investment operations: Net investment income - 0.0062 0.0196 0.0516 0.0161 Less distributions: Dividends from net Investment income - (0.0062) (0.0196) (0.0516) (0.0161) Net asset value, end of period $1.0000 $1.0000 $1.0000 $1.0000 $1.0000 Total return - 0.62% 1.98% 5.28% 1.62%+ Ratios/supplemental data Net assets, end of period (in thousands) $1 $1 $116 $4,352 $1,688 Ratio of expenses to average net assets - 0.60% 0.31% 0.59% 0.68%* Ratio of net investment income to average net assets - 1.09% 2.08% 4.70% 5.30%* The expense and net investment income ratios without the effect of the Adviser's and Administrator's voluntary waiver of fees and the Administrator's expense reimbursement were: Ratio of expenses to average net assets - 40.22% 1.96% 1.86% 1.24%* Ratio of net investment income (loss) to average net assets - (38.53)% 0.44% 3.43% 4.73%* The expense ratios after giving effect to the waivers, reimbursements and expense offset for uninvested cash balances were: Ratio of expenses to average net assets - 0.26% 0.28% 0.44% 0.65%*
(1)For the period March 16, 2000 (commencement of operations) through June 30, 2000. + Not annualized. * Annualized. ** The Fund had no operations during the period. See accompanying notes to financial statements. ITEM 2. CODE OF ETHICS. Not applicable. ITEM 3. AUDIT COMMITTEE FINANCIAL EXPERT. Not applicable. ITEM 4. PRINCIPAL ACCOUNTANT FEES AND SERVICES Not applicable. ITEM 5. AUDIT COMMITTEE OF LISTED REGISTRANTS. Not applicable. ITEM 6. [RESERVED] ITEM 7. DISCLOSURE OF PROXY VOTING POLICIES AND PROCEDURES FOR CLOSED-END MANAGEMENT INVESTMENT COMPANIES. ITEM 8. [RESERVED] ITEM 9. CONTROLS AND PROCEDURES. (a) Based on their evaluation of the registrant's disclosure controls and procedures (as defined in Rule 30a-2(c) under the Investment Company Act of 1940) as of a date within 90 days of the fling of this report, the registrant's chief financial and executive officers have concluded that the disclosure controls and procedures of the registrant are appropriately designed to ensure that information required to be disclosed in the registrant's reports that are filed under the Securities Exchange Act of 1934 are accumulated and communicated to registrant's management, including its principal executive officer(s) and principal financial officer(s), to allow timely decisions regarding required disclosure and is recorded, processed, summarized and reported, within the time periods specified in the rules and forms adopted by the Securities and Exchange Commission. (b) There have been no significant changes in registrant's internal controls or in other factors that could significantly affect registrant's internal controls subsequent to the date of the most recent evaluation, including no significant deficiencies or material weaknesses that required corrective action. ITEM 10. EXHIBITS. (a)(1) (a)(1) Aquila Group of Funds Code of Ethics for Principal Executive and Senior Financial Officers under Section 406 of the Sarbanes-Oxley Act of 2002. (a)(2) Certifications of principal executive officer and principal financial officer as required by Rule 30a-2(a) under the Investment Company Act of 1940. (b) Certifications of principal executive officer and principal financial officer as required by Rule 30a-2(b) under the Investment Company Act of 1940. SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized. CAPITAL CASH MANAGEMENT TRUST By: /s/ Lacy B. Herrmann - --------------------------------- Chairman of the Board March 8, 2004 By: /s/ Diana P. Herrmann - --------------------------------- President March 8, 2004 By: /s/ Joseph P. DiMaggio - ----------------------------------- Chief Financial Officer March 8, 2004 Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated. By: /s/ Lacy B. Herrmann - --------------------------------- Lacy B. Herrmann Chairman of the Board March 8, 2004 By: /s/ Diana P. Herrmann - --------------------------------- Diana P. Herrmann President March 8, 2004 By: /s/ Joseph P. DiMaggio - ----------------------------------- Joseph P. DiMaggio Chief Financial Officer March 8, 2004 CAPITAL CASH MANAGEMENT TRUST EXHIBIT INDEX (a) (2) Certifications of principal executive officer and principal financial officer as required by Rule 30a-2(a) under the Investment Company Act of 1940. (b) Certification of chief executive officer and chief financial officer as required by Rule 30a-2(b) of the Investment Company Act of 1940. EX-99.CERT 2 ccmt302cert.txt SECTION 302 CERTIFICATIONS EX-99.CERT CERTIFICATIONS I, Lacy B. Herrmann, certify that: 1. I have reviewed this report on Form N-CSR of Capital Cash Management Trust; 2. 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; 3. Based on my knowledge, the financial statements, and other financial included in this report, fairly present in all material respects the financial condition, results of operations, changes in net assets, and cash flows (if the financial statements are required to include a statement of cash flows) of the registrant as of, and for, the periods presented in this report; 4. The registrant's other certifying officers and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Rule 30a-2(c) under the Investment Company Act of 1940) for the registrant and have: a) designed such disclosure controls and procedures 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; b) evaluated the effectiveness of the registrant's disclosure controls and procedures as of a date within 90 days prior to the filing date of this report ("Evaluation Date"); and c) presented in this report our conclusions about the effectiveness of the disclosure controls and procedures based on our evaluation as of the Evaluation Date; 5. The registrant's other certifying officers and I have disclosed, based on our most recent evaluation, to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions): (a) all significant deficiencies in the design or operation of internal controls which could adversely affect the registrant's ability to record, process, summarize, and report financial data and have identified for the registrant's auditors any material weakness in internal controls; and (b) any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal controls; and 6. The registrant's other certifying officers and I have indicated in this report whether or not there were significant changes in internal controls or in other factors that could significantly affect internal controls subsequent to the date of our most recent evaluation, including any corrective actions with regard to significant deficiencies and material weaknesses. Date: March 8, 2004 /s/ Lacy B. Herrmann - ---------------------- Title: Chairman of the Board I, Diana P. Herrmann, certify that: 1. I have reviewed this report on Form N-CSR of Capital Cash Management Trust; 2. 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; 2. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations, changes in net assets, and cash flows (if the financial statements are required to include a statement of cash flows) of the registrant as of, and for, the periods presented in this report; 4. The registrant's other certifying officers and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Rule 30a-2(c) under the Investment Company Act of 1940) for the registrant and have: a) designed such disclosure controls and procedures 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; b) evaluated the effectiveness of the registrant's disclosure controls and procedures as of a date within 90 days prior to the filing date of this report ("Evaluation Date"); and c) presented in this report our conclusions about the effectiveness of the disclosure controls and procedures based on our evaluation as of the Evaluation Date; 5. The registrant's other certifying officers and I have disclosed, based on our most recent evaluation, to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions): a) all significant deficiencies in the design or operation of internal controls which could adversely affect the registrant's ability to record, process, summarize, and report financial data and have identified for the registrant's auditors any material weakness in internal controls; and (b) any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal controls; and 6. The registrant's other certifying officers and I have indicated in this report whether or not there were significant changes in internal controls or in other factors that could significantly affect internal controls subsequent to the date of our most recent evaluation, including any corrective actions with regard to significant deficiencies and material weaknesses. Date: March 8, 2004 /s/ Diana P. Herrmann - ---------------------- Title: President I, Joseph P. DiMaggio, certify that: 1. I have reviewed this report on Form N-CSR of Capital Cash Management Trust; 2. 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; 2. Based on my knowledge, the financial statements, other financial information included in this report, fairly present in all material respects the financial condition, results of operations, changes in net assets, and cash flows (if the financial statements are required to include a statement of cash flows) of the registrant as of, and for, the periods presented in this report; 4. The registrant's other certifying officers and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Rule 30a-2(c) under the Investment Company Act of 1940) for the registrant and have: a) designed such disclosure controls and procedures 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; b) evaluated the effectiveness of the registrant's disclosure controls and procedures as of a date within 90 days prior to the filing date of this report ("Evaluation Date"); and c) presented in this report our conclusions about the effectiveness of the disclosure controls and procedures based on our evaluation as of the Evaluation Date; 5. The registrant's other certifying officers and I have disclosed, based on our most recent evaluation, to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions): (a) all significant deficiencies in the design or operation of internal controls which could adversely affect the registrant's ability to record, process, summarize, and report financial data and have identified for the registrant's auditors any material weakness in internal controls; and (b) any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal controls; and 6. The registrant's other certifying officers and I have indicated in this report whether or not there were significant changes in internal controls or in other factors that could significantly affect internal controls subsequent to the date of our most recent evaluation, including any corrective actions with regard to significant deficiencies and material weaknesses. Date: March 8, 2004 /s/ Joseph P. DiMaggio - ------------------------ Title: Chief Financial Officer EX-99.906 3 ccmt906cert.txt SECTION 906 CERTIFICATIONS CERTIFICATION Pursuant To Section 906 of the Sarbanes-Oxley Act of 2002 (subsections and (b) of section 1350, chapter 63 of title 18,United States Code), each of the undersigned officers of Capital Cash Management Trust, do hereby certify to such officer's knowledge, that: The report on Form N-CSR of Capital Cash Management Trust for the period ended December 31, 2003 (the "Form N-CSR")fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934 and information contained in the Form N-CSR fairly presents, in all material respects, the financial condition and results of operations of Capital Cash Management Trust. Dated: March 8, 2004 /s/ Lacy B. Herrmann --------------------- Lacy B. Herrmann Chairman of the Board Capital Cash Management Trust Dated: March 8, 2004 /s/ Diana P. Herrmann ---------------------- President Capital Cash Management Trust Dated: March 8, 2004 /s/ Joseph P. DiMaggio ----------------------- Chief Financial Officer Capital Cash Management Trust A signed original of this written statement required by Section 906, or other document authenticating, acknowledging, or otherwise adopting the signature that appears in typed form within the electronic version of this written statement required by Section 906, has been provided to Capital Cash Management Trust and will be retained by Capital Cash Management Trust and furnished to the Securities and Exchange Commission or its staff upon request. This certification is being furnished solely pursuant to 18 U.S.C. ss. 1350 and is not being filed as part of the Report or as a separate disclosure document. -----END PRIVACY-ENHANCED MESSAGE-----