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000 C000000 0000701382
000 D000000 N
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000 J000000 U
001 A000000 OPPENHEIMER U.S. GOVERNMENT TRUST
001 B000000 811-3430
001 C000000 2123230200
002 A000000 TWO WORLD TRADE CENTER
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020 C000001 52
020 A000002 PAINEWEBBER, INC.
020 B000002 13-2638166
020 C000002 52
020 A000003 MERRILL LYNCH, PIERCE, FENNER, & SMITH, INC.
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020 C000003 27
020 A000004 GOLDMAN, SACHS & CO.
020 B000004 13-5108880
020 C000004 5
020 A000005 DEUTSCHE BANK CAPITAL CORP.
020 B000005 FOREIGN
020 C000005 3
020 A000006 GREENWICH SECURITIES, INC.
020 B000006 13-2697091
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<PAGE> PAGE 2
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SIGNATURE GEORGE C. BOWEN
TITLE TREASURER
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
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WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
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<PAGE>
THE BOARD OF TRUSTEES AND SHAREHOLDERS OF
OPPENHEIMER U.S. GOVERNMENT TRUST:
In planning and performing our audit of the financial statements of Oppenheimer
U.S. Government Trust for the year ended August 31, 1997, we considered its
internal control structure, including procedures for safeguarding securities, in
order to determine our auditing procedures for the purpose of expressing our
opinion on the financial statements and to comply with the requirements of Form
N-SAR, not to provide assurance on the internal control structure.
The management of Oppenheimer U.S. Government Trust is responsible for
establishing and maintaining an internal control structure. In fulfilling this
responsibility, estimates and judgments by management are required to assess the
expected benefits and related costs of internal control structure policies and
procedures. Two of the objectives of an internal control structure are to
provide management with reasonable, but not absolute, assurance that assets are
safeguarded against loss from unauthorized use or disposition and that
transactions are executed in accordance with management's authorization and
recorded properly to permit preparation of financial statements in conformity
with generally accepted accounting principles.
Because of inherent limitations in any internal control structure, errors or
irregularities may occur and may not be detected. Also, projection of any
evaluation of the structure to future periods is subject to the risk that it may
become inadequate because of changes in conditions or that the effectiveness of
the design and operation may deteriorate.
Our consideration of the internal control structure would not necessarily
disclose all matters in the internal control structure that might be material
weaknesses under standards established by the American Institute of Certified
Public Accountants. A material weakness is a condition in which the design or
operation of the specific internal control structure elements does not reduce to
a relatively low level the risk that errors or irregularities in amounts that
would be material in relation to the financial statements being audited may
occur and not be detected within a timely period by employees in the normal
course of performing their assigned functions. However, we noted no matters
involving the internal control structure, including procedures for safeguarding
securities, that we considered to be material weaknesses as defined above as of
August 31, 1997.
This report is intended solely for the information and use of management and the
Securities and Exchange Commission and should not be used for any other purpose.
/S/KPMG PEAT MARWICK
KPMG PEAT MARWICK LLP
Denver, Colorado
September 22, 1997
<PAGE>
During the period ended August 31, 1997, the Fund adjusted the
classification of distributions to shareholders to reflect the differences
between financial statement amounts and distributions determined in accordance
with income tax regulations. Accordingly, during the period ended August 31,
1997, amounts have been reclassified to reflect a decrease in undistributed net
investment income of $81,296, a decrease in accumulated net realized gain on
investments of $32,469, and an increase in paid-in capital of $113,765.
