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UNITED STATES -----------------------------------------
SECURITIES AND EXCHANGE COMMISSION OMB APPROVAL
WASHINGTON, D.C. 20549 -----------------------------------------
OMB NUMBER: 3235-0360
FORM N-17f-2 EXPIRES: JULY 31, 2000
Certificate of Accounting of Securities and Similar ESTIMATED AVERAGE BURDEN 0.05
Investments in the Custody of HOURS PER RESPONSE
Management Investment Companies -----------------------------------------
Pursuant to Rule 17f-2 [17 CFR 270.17F-2]
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1. Investment Company Act File Number: Date examination completed:
811-07745 November 12, 1999
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2. State identification Number:
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AL AK AZ AR CA CO
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CT DE DC FL GA HI
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ID IL IN IA KS KY
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LA ME MD MA MI MN
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MS MO MT NE NV NH
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NJ NM NY NC ND OH
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OK OR PA RI SC SD
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TN TX UT VT VA WA
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WV WI WY PUERTO RICO
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Other (specify):
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3. Exact name of investment company as specified in registration statement:
Nations LifeGoal Funds, Inc.
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4. Address of principal executive office (number, street, city, state, zip code):
101 South Tryon Street, Charlotte, North Carolina, 28255
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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)
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MANAGEMENT STATEMENT REGARDING COMPLIANCE WITH
CERTAIN PROVISIONS OF THE INVESTMENT COMPANY ACT OF 1940
We, as members of management of Nations LifeGoal Funds, Inc. (the "Company"),
comprising Income and Growth, Balanced Growth and Growth Portfolios are
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. We are also responsible for
establishing and maintaining an effective internal control structure over
compliance with those requirements. We have performed an evaluation of the
Company's compliance with the requirements of subsection (b) and (c) of Rule
17f-2 as of November 12, 1999.
Based on this evaluation, we assert that the Company was in compliance with
those provisions of Rule 17f-2 of the Investment Company Act of 1940 as of
November 12, 1999 with respect to securities and similar investments reflected
in the investment account of the Company.
Nations LifeGoal Funds, Inc.
By:
Robert H. Gordon
President
Banc of America Advisors, Inc.
Edward Bedard
Senior Vice President and Chief Operating Officer
Banc of America Advisors, Inc.
Richard Blank
Treasurer
Nations LifeGoal Funds, Inc.
<PAGE>
Report of Independent Accountants
To the Board of Directors of
Nations LifeGoal Funds, Inc.
We have examined management's assertion, included in the accompanying Management
Statement Regarding Compliance with Certain Provisions of the Investment Company
Act of 1940, about Nations LifeGoal Funds, Inc.'s (the "Company's"), comprising
Income and Growth, Balanced Growth and Growth Portfolios, compliance with the
requirements of subsections (b) and (c) of Rule 17f-2 under the Investment
Company Act of 1940 ("the Act") as of November 12, 1999. Management is
responsible for the Company's compliance with those requirements. Our
responsibility is to express an opinion on management's assertion about the
Company's 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 Company's
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 November 12, 1999, and with respect to
agreement of investment purchases and sales, for the period from March 31, 1999
(the date of our last examination), through November 12, 1999:
- - Confirmation of all investments held by PFPC Inc. in book entry form;
- - Reconciliation of all such investments to the books and records of the
Company and the Custodian;
- - Agreement of five investment purchases and five investment sales or
maturities since our last report from the books and records of the Company to
trade confirmations.
We believe that our examination provides a reasonable basis for our opinion. Our
examination does not provide a legal determination on the Company's compliance
with specified requirements.
In our opinion, management's assertion that Nations LifeGoal Funds, Inc. was in
compliance with the requirements of subsections (b) and (c) of Rule 17f-2 of the
Investment Company Act of 1940 as of November 12, 1999 with respect to
securities reflected in the investment account of the Company is fairly stated,
in all material respects.
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To the Board of Directors of
Nations LifeGoal Funds, Inc.
This report is intended solely for the information and use of the Board of
Directors, management, and the Securities and Exchange Commission and is not
intended to be and should not be used by anyone other than these specified
parties.
PricewaterhouseCoopers LLP
March 24, 2000
