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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM N-17f-1 -------------------------------
OMB APPROVAL
Certificate of Accounting of Securities and Similar -------------------------------
Investments of a Management Investment Company OMB Number: 3235-0359
in the Custody of Members of Expires: June 30, 1997
National Securities Exchanges Estimated average burden
hours per response.........0.05
Pursuant to Rule 17f-1 [17 CFR 270.17f-1] -------------------------------
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1. Investment Company Act File Number: Date examination completed:
801-811-6727 July 14, 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 C41002-003-02 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:
Dominion Funds, Inc.
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4. Name under which business is conducted, if different from above:
Dominion Insight Growth Fund
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5. Address of principal place of business: (number, street, city, state,
zip code):
5000 Quorum Drive, Suite 620, Dallas, Texas 75240
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INSTRUCTIONS
This Form must be completed by investment companies that place or maintain
securities or similar investments in the custody of a company that is a
member of a national securities exchange.
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-1 under the Act and applicable state law, examines
securities and similar investments in the custody of a company that is a
member of a national securities exchange.
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-1 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 Office of Information Technology, U.S. Securities and
Exchange Commission, 450 Fifth Street, N.W., Washington, D.C.
20549-6004 and Clearance Officer for the SEC, Office of Management
and Budget, Room 3208 New Executive Officer Building, Washington,
D.C. 20549.
SEC 205(8-95)
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DOMINION INSIGHT GROWTH FUND
Certificate of Accounting of Securities in the
Custody of a Member of a National Securities Exchange.
As of June 30, 1999 and
for the three months then ended
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[LETTERHEAD OF KINDER & WYMAN, P.C.]
REPORT OF INDEPENDENT ACCOUNTANTS
The Board of Directors
Dominion Insight Growth Fund
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 Dominion Insight Growth Fund's (Fund)
compliance with the requirements of subsection (b) (1) of Rule 17f-1 of the
Investment Company Act of 1940 ("the Act") as of June 30, 1999 with respect
to securities and similar investments reflected in the investment account of
the Fund. Management is responsible for the Fund's compliance with those
requirements. Our responsibility is to express an opinion on management's
assertion about the Fund's compliance based on our examination.
Our examination was made in accordance with standards established by the
American Institute of Certified Public Accountants and accordingly, included
examining, on a test basis, evidence about the Fund'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 June 30, 1999 and with respect to agreement of security and
similar investments purchases and sales, for the period from March 31, 1999
(the date of last examination) through June 30, 1999:
Confirmation of all securities and similar investments held by
May Financial Corporation (Custodian) in book entry form;
Reconciliation of confirmation results as to all such
securities and investments to the books and records of the Fund
and the Custodian;
Agreement of 31 security and/or investment purchases (100%) and
35 security and/or investment sales or maturities (100%) since
our last examination from the books and records of the Fund to
broker confirmations or broker statements.
We believe that our examination provides a reasonable basis for our opinion.
Our examination does not provide a legal determination on the Fund's
compliance with specified requirements.
In our opinion, management's assertion that Dominion Insight Growth Fund was
in compliance with the requirements of subsection (b)(1) of Rule 17f-1 of the
Investment Company Act of 1940 as of June 30, 1999 with respect to
securities and similar investments reflected in the investment account of the
Fund is fairly stated, in all material respects.
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This report is intended solely for the information and use of management of
Dominion Insight Growth Fund and the Securities and Exchange Commission and
should not be used for any other purpose.
/s/ KINDER & WYMAN
KINDER & WYMAN, P.C.
Irving, Texas
July 14, 1999
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[LETTERHEAD OF THE DOMINION COMPANIES, INC.]
MANAGEMENT STATEMENT REGARDING COMPLIANCE WITH
CERTAIN PROVISIONS OF THE INVESTMENT COMPANY ACT OF 1940
We, as members of management of Dominion Insight Growth Fund (Fund), a
portfolio of Dominion Funds, Inc., are responsible for complying with the
requirements of subsection (b)(1) of Rule 17f-1, "Custody of Securities with
Members of National Securities Exchanges," of the Investment Company Act of
1940. We are also responsible for establishing and maintaining effective
controls over compliance with those requirements. We have performed an
evaluation of the Fund's compliance with the requirements of subsection (b)(1)
of Rule 17f-1 as of June 30, 1999, and from April 1, 1999 through June 30, 1999.
Based on this evaluation, we assert that the Fund was in compliance with the
requirements of subsection (b)(1) of Rule 17f-1 of the Investments Company
Act of 1940 as of June 30, 1999, and from April 1, 1999 through June 30,
1999 with respect to securities and similar investments reflected in the
investment account of the Fund.
We have made available to you all financial and related data. There are no
material transactions which have not been properly recorded in the Fund's
books and records.
DOMINION FUNDS, INC.
By:
/s/ Douglas W. Powell /s/ C. Dewey Elliot, III
Douglas W. Powell C. Dewey Elliot, III
Chief Executive Officer President
July 14, 1999 July 14, 1999
