UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM N-Q
QUARTERLY SCHEDULE OF
PORTFOLIO HOLDINGS OF REGISTERED MANAGEMENT
INVESTMENT COMPANY
Investment Company Act file number |
811-6014 |
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DREYFUS CONNECTICUT MUNICIPAL MONEY MARKET FUND, INC. |
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(Exact name of Registrant as specified in charter) |
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c/o The Dreyfus Corporation 200 Park Avenue New York, New York 10166 |
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(Address of principal executive offices) (Zip code) |
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Michael A. Rosenberg, Esq. 200 Park Avenue New York, New York 10166 |
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(Name and address of agent for service) |
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Registrant's telephone number, including area code: |
(212) 922-6000 |
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Date of fiscal year end:
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11/30 |
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Date of reporting period: |
8/31/11 |
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STATEMENT OF INVESTMENTS |
Dreyfus Connecticut Municipal Money Market Fund, Inc. |
August 31, 2011 (Unaudited) |
Coupon | Maturity | Principal | ||
Short-Term Investments--93.1% | Rate (%) | Date | Amount ($) | Value ($) |
Connecticut--90.3% | ||||
Beacon Falls, | ||||
GO Notes, BAN | 1.50 | 7/19/12 | 1,454,000 | 1,462,875 |
Connecticut, | ||||
GO Notes, Refunding | 5.50 | 12/15/11 | 250,000 | 253,533 |
Connecticut, | ||||
Special Tax Obligation, | ||||
Refunding (Transportation | ||||
Infrastructure Purposes) | 5.50 | 10/1/11 | 200,000 | 200,824 |
Connecticut, | ||||
Special Tax Obligation, | ||||
Refunding (Transportation | ||||
Infrastructure Purposes) | 2.00 | 12/1/11 | 250,000 | 250,959 |
Connecticut, | ||||
State Revolving Fund General | ||||
Revenue, Refunding | 2.00 | 10/1/11 | 400,000 | 400,515 |
Connecticut Development Authority, | ||||
Airport Hotel Revenue, | ||||
Refunding (Bradley Airport | ||||
Hotel Project) (LOC; TD Bank) | 0.21 | 9/7/11 | 3,800,000 a | 3,800,000 |
Connecticut Development Authority, | ||||
IDR (AcuCut, Inc. Project) | ||||
(LOC; Wells Fargo Bank) | 0.36 | 9/7/11 | 830,000 a | 830,000 |
Connecticut Development Authority, | ||||
Solid Waste Disposal Facility | ||||
Revenue (Rand-Whitney | ||||
Containerboard Limited | ||||
Partnership Project) (LOC; | ||||
Bank of Montreal) | 0.18 | 9/7/11 | 1,500,000 a | 1,500,000 |
Connecticut Health and Educational | ||||
Facilities Authority, Revenue | ||||
(Community Renewal Team Issue) | ||||
(LOC; Bank of America) | 0.32 | 9/7/11 | 760,000 a | 760,000 |
Connecticut Health and Educational | ||||
Facilities Authority, Revenue |
(Corporation for Independent | ||||
Living Community Resources | ||||
Issue) (LOC; HSBC Bank USA) | 0.19 | 9/7/11 | 2,500,000 a | 2,500,000 |
Connecticut Health and Educational | ||||
Facilities Authority, Revenue | ||||
(Eastern Connecticut Health | ||||
Network Issue) (LOC; TD Bank) | 0.18 | 9/7/11 | 1,500,000 a | 1,500,000 |
Connecticut Health and Educational | ||||
Facilities Authority, Revenue | ||||
(Edgehill Issue) (LOC; | ||||
JPMorgan Chase Bank) | 0.16 | 9/1/11 | 800,000 a | 800,000 |
Connecticut Health and Educational | ||||
Facilities Authority, Revenue | ||||
(Hoffman Summerwood Community | ||||
Issue) (LOC; TD Bank) | 0.16 | 9/7/11 | 3,400,000 a | 3,400,000 |
Connecticut Health and Educational | ||||
Facilities Authority, Revenue | ||||
(Hospital for Special Care | ||||
Issue) (LOC; FHLB) | 0.18 | 9/7/11 | 3,555,000 a | 3,555,000 |
Connecticut Health and Educational | ||||
Facilities Authority, Revenue | ||||
(Lawrence and Memorial | ||||
Hospital Issue) (LOC; JPMorgan | ||||
Chase Bank) | 0.15 | 9/7/11 | 200,000 a | 200,000 |
Connecticut Health and Educational | ||||
Facilities Authority, Revenue | ||||
(Mansfield Center for Nursing | ||||
and Rehabilitation Issue) | ||||
(LOC; Bank of America) | 0.32 | 9/7/11 | 2,000,000 a | 2,000,000 |
Connecticut Health and Educational | ||||
Facilities Authority, Revenue | ||||
(Taft School Issue) (LOC; | ||||
Wells Fargo Bank) | 0.24 | 9/7/11 | 1,800,000 a,b | 1,800,000 |
Connecticut Health and Educational | ||||
Facilities Authority, Revenue | ||||
(The Children's School Issue) | ||||
(LOC; JPMorgan Chase Bank) | 0.25 | 9/7/11 | 4,320,000 a,b | 4,320,000 |
Connecticut Health and Educational | ||||
Facilities Authority, Revenue | ||||
(The Hotchkiss School Issue) | ||||
(Liquidity Facility; U.S. Bank | ||||
NA) | 0.17 | 9/7/11 | 5,300,000 a,b | 5,300,000 |
Connecticut Health and Educational |
Facilities Authority, Revenue | ||||
(United Methodist Home of | ||||
Sharon, Inc. Issue) (LOC; | ||||
Wells Fargo Bank) | 0.26 | 9/7/11 | 4,365,000 a | 4,365,000 |
Connecticut Health and Educational | ||||
Facilities Authority, Revenue | ||||
(Westminster School Issue) | ||||
(LOC; Bank of America) | 0.26 | 9/7/11 | 6,005,000 a,b | 6,005,000 |
Connecticut Health and Educational | ||||
Facilities Authority, Revenue | ||||
(Yale University Issue) | 0.05 | 9/1/11 | 2,185,000 a,b | 2,185,000 |
Connecticut Health and Educational | ||||
Facilities Authority, Revenue | ||||
(Yale University Issue) | 0.07 | 9/1/11 | 9,650,000 a,b | 9,650,000 |
Connecticut Health and Educational | ||||
Facilities Authority, Revenue | ||||
(Yale University Issue) | 0.07 | 9/1/11 | 2,240,000 a,b | 2,240,000 |
Connecticut Housing Finance | ||||
Authority, Revenue | ||||
(Corporation for Independent | ||||
Living Realty Incorporated | ||||
Issue) (LOC; HSBC Bank USA) | 0.19 | 9/7/11 | 3,450,000 a | 3,450,000 |
Connecticut Housing Finance | ||||
Authority, Revenue (Housing | ||||
Mortgage Finance Program) | 0.45 | 11/15/11 | 1,000,000 | 1,000,000 |
Connecticut Housing Finance | ||||
Authority, Revenue (Housing | ||||
Mortgage Finance Program) | ||||
(Liquidity Facility; Bank of | ||||
Tokyo-Mitsubishi UFJ) | 0.24 | 9/7/11 | 2,880,000 a | 2,880,000 |
Hartford, | ||||
GO Notes, BAN | 2.00 | 4/12/12 | 2,000,000 | 2,016,775 |
Milford, | ||||
GO Notes | 2.50 | 11/1/11 | 165,000 | 165,507 |
Puttable Floating Option Tax | ||||
Exempt Receipts (Connecticut | ||||
Health and Educational | ||||
Facilities Authority, Revenue | ||||
(Windham Community Memorial | ||||
Hospital Issue) (Liquidity | ||||
Facility; Bank of America and | ||||
LOC; Bank of America) | 0.47 | 9/7/11 | 980,000 a,c,d | 980,000 |
U.S. Related--2.8% | ||||
JPMorgan Chase Putters/Drivers | ||||
Trust (Puerto Rico | ||||
Commonwealth, Public | ||||
Improvement GO Notes) | ||||
(Liquidity Facility; JPMorgan | ||||
Chase Bank and LOC; JPMorgan | ||||
Chase Bank) | 0.14 | 9/1/11 | 2,200,000 a,c,d | 2,200,000 |
Total Investments (cost $71,970,988) | 93.1% | 71,970,988 | ||
Cash and Receivables (Net) | 6.9% | 5,366,630 | ||
Net Assets | 100.0% | 77,337,618 |
a |
Variable rate demand note - rate shown is the interest rate in effect at August 31, 2011. Maturity date represents the next demand date, or the ultimate maturity date if earlier. |
b |
At August 31, 2011, the fund had $31,500,000 or 40.7% of net assets invested in securities whose payment of principal and interest is dependent upon revenues generated from education. |
c |
Securities exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be resold in transactions exempt from registration, normally to qualified institutional buyers. At August 31, 2011, these securities amounted to $3,180,000 or 4.1% of net assets. |
d |
The fund does not directly own the municipal security indicated; the fund owns an interest in a special purpose entity that, in turn, owns the underlying municipal security. The special purpose entity permits the fund to own interests in underlying assets, but in a manner structured to provide certain advantages not inherent in the underlying bonds (e.g., enhanced liquidity, yields linked to short-term rates). |
At August 31, 2011, the cost of investments for federal income tax purposes was substantially the same as the cost for financial reporting purposes.
Summary of Abbreviations | |||
ABAG | Association of Bay Area Governments | ACA | American Capital Access |
AGC | ACE Guaranty Corporation | AGIC | Asset Guaranty Insurance Company |
AMBAC | American Municipal Bond Assurance Corporation | ARRN | Adjustable Rate Receipt Notes |
BAN | Bond Anticipation Notes | BPA | Bond Purchase Agreement |
CIFG | CDC Ixis Financial Guaranty | COP | Certificate of Participation |
CP | Commercial Paper | EDR | Economic Development Revenue |
EIR | Environmental Improvement Revenue | FGIC | Financial Guaranty Insurance Company |
FHA | Federal Housing Administration | FHLB | Federal Home Loan Bank |
FHLMC | Federal Home Loan Mortgage Corporation | FNMA | Federal National Mortgage Association |
GAN | Grant Anticipation Notes | GIC | Guaranteed Investment Contract |
GNMA | Government National Mortgage Association | GO | General Obligation |
HR | Hospital Revenue | IDB | Industrial Development Board |
IDC | Industrial Development Corporation | IDR | Industrial Development Revenue |
LOC | Letter of Credit | LOR | Limited Obligation Revenue |
LR | Lease Revenue | MFHR | Multi-Family Housing Revenue |
MFMR | Multi-Family Mortgage Revenue | PCR | Pollution Control Revenue |
PILOT | Payment in Lieu of Taxes | PUTTERS | Puttable Tax-Exempt Receipts |
RAC | Revenue Anticipation Certificates | RAN | Revenue Anticipation Notes |
RAW | Revenue Anticipation Warrants | RRR | Resources Recovery Revenue |
SAAN | State Aid Anticipation Notes | SBPA | Standby Bond Purchase Agreement |
SFHR | Single Family Housing Revenue | SFMR | Single Family Mortgage Revenue |
SONYMA | State of New York Mortgage Agency | SWDR | Solid Waste Disposal Revenue |
TAN | Tax Anticipation Notes | TAW | Tax Anticipation Warrants |
TRAN | Tax and Revenue Anticipation Notes | XLCA | XL Capital Assurance |
The following is a summary of the inputs used as of August 31, 2011 in valuing the fund's investments:
Valuation Inputs | Short-Term Investments ($)+ |
Level 1 - Unadjusted Quoted Prices | - |
Level 2 - Other Significant Observable Inputs | 71,970,988 |
Level 3 - Significant Unobservable Inputs | - |
Total | 71,970,988 |
+ See Statement of Investments for additional detailed categorizations. |
The Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) is the exclusive reference of authoritative U.S. generally accepted accounting principles (“GAAP”) recognized by the FASB to be applied by nongovernmental entities. Rules and interpretive releases of the Securities and Exchange Commission (“SEC”) under authority of federal laws are also sources of authoritative GAAP for SEC registrants. The fund's financial statements are prepared in accordance with GAAP, which may require the use of management estimates and assumptions. Actual results could differ from those estimates.
Portfolio valuation: Investments in securities are valued at amortized cost in accordance with Rule 2a-7 of the Act, which has been determined by the Board of Directors to represent the fair value of the fund’s investments.
The fair value of a financial instrument is the amount that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date (i.e. the exit price). GAAP establishes a fair value hierarchy that prioritizes the inputs of valuation techniques used to measure fair value. This hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and the lowest priority to unobservable inputs (Level 3 measurements). Additionally, GAAP provides guidance on determining whether the volume and activity in a market has decreased significantly and whether such a decrease in activity results in transactions that are not orderly. GAAP requires enhanced disclosures around valuation inputs and techniques used during annual and interim periods.
Various inputs are used in determining the value of the fund’s investments relating to fair value measurements. These inputs are summarized in the three broad levels listed below:
Level 1—unadjusted quoted prices in active markets for identical investments.
Level 2—other significant observable inputs (including quoted prices for similar investments, interest rates, prepayment speeds, credit risk, etc.).
Level 3—significant unobservable inputs (including the fund’s own assumptions in determining the fair value of investments).
The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with investing in those securities. For example, money market securities are valued using amortized cost, in accordance with rules under the Act. Generally, amortized cost approximates the current fair value of a security, but since the value is not obtained from a quoted price in an active market, such securities are reflected as Level 2.
Additional investment related disclosures are hereby incorporated by reference to the annual and semi-annual reports previously filed with the Securities and Exchange Commission on Form N-CSR.
Item 2. Controls and Procedures.
(a) The Registrant's principal executive and principal financial officers have concluded, based on their evaluation of the Registrant's disclosure controls and procedures as of a date within 90 days of the filing date of this report, that the Registrant's disclosure controls and procedures are reasonably designed to ensure that information required to be disclosed by the Registrant on Form N-Q is recorded, processed, summarized and reported within the required time periods and that information required to be disclosed by the Registrant in the reports that it files or submits on Form N-Q is accumulated and communicated to the Registrant's management, including its principal executive and principal financial officers, as appropriate to allow timely decisions regarding required disclosure.
(b) There were no changes to the Registrant's internal control over financial reporting that occurred during the Registrant's most recently ended fiscal quarter that have materially affected, or are reasonably likely to materially affect, the Registrant's internal control over financial reporting.
Item 3. Exhibits.
(a) Certifications of principal executive and principal financial officers as required by Rule 30a-2(a) under the Investment Company Act of 1940.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the Registrant has duly caused this Report to be signed on its behalf by the undersigned, thereunto duly authorized.
DREYFUS CONNECTICUT MUNICIPAL MONEY MARKET FUND, INC.
By: /s/ Bradley J. Skapyak |
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Bradley J. Skapyak President
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Date: |
October 24, 2011 |
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Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this Report has been signed below by the following persons on behalf of the Registrant and in the capacities and on the dates indicated. |
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By: /s/ Bradley J. Skapyak |
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Bradley J. Skapyak President
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Date: |
October 24, 2011 |
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By: /s/ James Windels |
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James Windels Treasurer
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Date: |
October 24, 2011 |
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EXHIBIT INDEX
(a) Certifications of principal executive and principal financial officers as required by Rule 30a-2(a) under the Investment Company Act of 1940. (EX-99.CERT)
SECTION 302 CERTIFICATION
I, Bradley J. Skapyak, certify that:
1. I have reviewed this report on Form N-Q of Dreyfus Connecticut Municipal Money Market Fund, Inc.;
2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;
3. Based on my knowledge, the schedule of investments included in this report fairly present in all material respects the investments of the registrant as of the end of the fiscal quarter for which the report is filed;
4. The registrant's other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the registrant and have:
(a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;
(b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;
(c) Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report based on such evaluation; and
(d) Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the registrant's most recent fiscal quarter that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting;
5. The registrant's other certifying officer(s) and I have disclosed to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions):
(a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize, and report financial information; and
(b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.
By: /s/ Bradley J. Skapyak |
Bradley J. Skapyak |
President |
Date: October 24, 2011 |
SECTION 302 CERTIFICATION
I, James Windels, certify that:
1. I have reviewed this report on Form N-Q of Dreyfus Connecticut Municipal Money Market Fund, Inc.;
2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;
3. Based on my knowledge, the schedule of investments included in this report fairly present in all material respects the investments of the registrant as of the end of the fiscal quarter for which the report is filed;
4. The registrant's other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the registrant and have:
(a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;
(b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;
(c) Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report based on such evaluation; and
(d) Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the registrant's most recent fiscal quarter that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting;
5. The registrant's other certifying officer(s) and I have disclosed to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions):
(a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize, and report financial information; and
(b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.
By: /s/ James Windels |
James Windels |
Treasurer |
Date: October 24, 2011 |