U.S. 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:
801-8202 April 30, 2000
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:
Independence One Mutual Funds
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4. Name under which business is conducted, if different from above:
5. Address of principal place of business (number, street, city, state, zip
code):
27777 Inkster Road, Farmington Hills, Michigan 48333-9065
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
Note: The estimated average burden hours are made solely for purposes of the
Paperwork Reduction Act, and are not derived from a comprehensive or even a
representative survey or study of the costs of SEC rules and forms. Direct
any comments concerning the accuracy of the estimated average burden hours
for compliance with SEC rules and forms to Kenneth A. Fogash, Deputy
Executive Director, U.S. Securities and Exchange Commission, 450 Fifth
Street, N.W., Washington, D.C. 20549 and Gary Waxman, Clearance Officer,
Office of Management and Budget, Room 3208 New Executive Office Building,
Washington, D.C. 20503.
<PAGE>
MANAGEMENT STATEMENT REGARDING COMPLIANCE WITH CERTAIN PROVISIONS OF THE
INVESTMENT COMPANY ACT OF 1940
We, as members of management of Independence One Mutual Funds (the Funds),
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 effective internal controls over
compliance with those requirements. We have performed an evaluation of the
Funds' compliance with the requirements of subsections (b) and (c) of Rule
17f-2 as of April 30, 2000, and from March 1, 2000 through April 30, 2000.
Based on this evaluation, we 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, 2000, and from March 1, 2000 through
April 30, 2000, with respect to securities reflected in the investment
accounts of the Funds.
Independence One Mutual Funds
By:
/s/STACEY GRAY____________
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Stacey Gray
Vice President
Michigan National Bank
/s/JEFFREY STERLING_____
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Jeffrey Sterling
Vice President and Assistant Treasurer
Independence One Mutual Funds
