U.S. Securities and Exchange Commission
Washington, D.C. 20549
FORM N-17 f-2
Certificate of Accounting of Securities and Similar Investments in the Custody
of Management Investment Companies
1. Investment Company Act File: Date examination completed:
811-8384 April 30, 1997
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):
3. Exact name of investment company as specified in registration statement:
CENTURA FUNDS, INC.
4. Address of principal executive office: (number, street, city, state, zip
code)
3435 Stelzer Road, Columbus, Ohio 43219
<PAGE>
Independent Accountant's Report
To the Board of Directors
Centura Funds, Inc.
We have examined management's assertion about Centura Funds, Inc.'s (the
"Company") (consisting of Centura Equity Growth Fund, Centura Federal Securities
Income Fund and Centura North Carolina Tax-Free Bond Fund) compliance with
certain rules under the Investment Company Act of 1940 (the "Act") as of April
30, 1997 included in the accompanying Management Statement Regarding Compliance
with Certain Provisions of the Investment Company Act of 1940. 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 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 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 April 30, 1997 and for the period December 1, 1996 through April
30, 1997, with respect to securities of Centura Funds, Inc.:
w Confirmation of all securities held by institutions in book entry form
at the Federal Reserve Bank of Richmond and the Depository Trust Company
as of April 30, 1997;
w Agreed all securities purchased/sold but not received/delivered to
broker confirmations as of April 30, 1997;
w Reconciliation of all such securities to the books and records of the
Company and the Custodian as of April 30, 1997;
w Analytical review and tests of security transactions for the period
December 1, 1996 through April 30, 1997 on a test basis.
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 Centura Fund's Inc. was in
compliance with certain provisions of Rule 17f-2 of the Investment Company Act
of 1940 as of April 30, 1997 is fairly stated, in all material respects.
This report is intended solely for the information and use of management of
Centura Funds, Inc. and the Securities and Exchange Commission and should not be
used for any other purpose.
/s/ McGladrey & Pullen, LLP
New York, New York
September 1, 1997
<PAGE>
Management Statement Regarding Compliance with Certain
Provisions of the Investment Company Act of 1940
Securities reflected in the investment account of Centura Funds, Inc.
(consisting of Centura Equity Growth Fund, Centura Federal Securities Income
fund and Centura North Carolina Tax-Free Bond Fund) as of April 30, 1997, other
than pending transactions which have not settled, represent securities held at
locations specified under the provisions of Section 17 of the Investment Company
Act of 1940, and the rules and regulations thereunder, relating to custody of
investments.
Centura Funds, Inc.
By:
/s/ Thomas Line
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Thomas Line, Treasurer
