The Registrant has adopted a code of ethics
that applies to the Registrant's principal executive officer, principal financial officer, principal accounting officer or controller,
or persons performing similar functions. There have been no amendments to, or waivers in connection with, the Code of Ethics during the
period covered by this Report.
|
Item 3. |
Audit Committee Financial Expert. |
The Registrant's Board has determined that J.
Charles Cardona, a member of the Audit Committee of the Board, is an audit committee financial expert as defined by the Securities and
Exchange Commission (the "SEC"). Mr. Cardona is "independent" as defined by the SEC for purposes of audit committee financial
expert determinations.
|
Item 4. |
Principal Accountant Fees and Services. |
(a) Audit
Fees. The aggregate fees billed for each of the last two fiscal years (the "Reporting Periods") for professional services
rendered by the Registrant's principal accountant (the "Auditor") for the audit of the Registrant's annual financial statements
or services that are normally provided by the Auditor in connection with the statutory and regulatory filings or engagements for the Reporting
Periods, were $37,666 in 2024 and $38,419 in 2025.
(b) Audit-Related
Fees. The aggregate fees billed in the Reporting Periods for assurance and related services by the Auditor that are reasonably
related to the performance of the audit of the Registrant's financial statements and are not reported under paragraph (a) of this Item
4 were $10,210 in 2024 and $7,479 in 2025. These services consisted of one or more of the following: (i) agreed upon procedures related
to compliance with Internal Revenue Code section 817(h), (ii) security counts required by Rule 17f-2 under the Investment Company Act
of 1940, as amended, (iii) advisory services as to the accounting or disclosure treatment of Registrant transactions or events and (iv)
advisory services to the accounting or disclosure treatment of the actual or potential impact to the Registrant of final or proposed rules,
standards or interpretations by the Securities and Exchange Commission, the Financial Accounting Standards Boards or other regulatory
or standard-setting bodies.
The aggregate fees billed in the Reporting Periods
for non-audit assurance and related services by the Auditor to the Registrant's investment adviser (not including any sub-investment adviser
whose role is primarily portfolio management and is subcontracted with or overseen by another investment adviser), and any entity controlling,
controlled by or under common control with the investment adviser that provides ongoing services to the Registrant ("Service Affiliates"),
that were reasonably related to the performance of the annual audit of the Service Affiliate, which required pre-approval by the Audit
Committee were $0 in 2024 and $0 in 2025.
(c) Tax
Fees. The aggregate fees billed in the Reporting Periods for professional services rendered by the Auditor for tax compliance,
tax advice, and tax planning ("Tax Services") were $3,342 in 2024 and $3,342 in 2025. These services consisted of: (i) review
or preparation of U.S. federal, state, local and excise tax returns; (ii) U.S. federal, state and local tax planning, advice and assistance
regarding statutory, regulatory or administrative developments; (iii) tax advice regarding tax qualification matters and/or treatment
of various financial instruments held or proposed to be acquired or held, and (iv) determination of Passive Foreign Investment Companies.
The aggregate fees billed in the Reporting Periods for Tax Services by the Auditor to Service Affiliates, which required pre-approval
by the Audit Committee were $8,503 in 2024 and $8,860 in 2025.
(d) All
Other Fees. The aggregate fees billed in the Reporting Periods for products and services provided by the Auditor, other than the
services reported in paragraphs (a) through (c) of this Item, were $656 in 2024 and $682 in 2025. These services consisted of a review
of the Registrant's anti-money laundering program.
The
aggregate
fees
billed
in
the
Reporting
Periods
for
Non-Audit
Services
by
the
Auditor
to
Service
Affiliates,
other
than
the
services
reported
in
paragraphs
(b)
through
(c)
of
this
Item,
which
required
pre-approval
by
the
Audit
Committee,
were
$0
in
2024
and
$0
in
2025.
(e)(1)
Audit
Committee
Pre-Approval
Policies
and
Procedures.
The
Registrant's
Audit
Committee
has
established
policies
and
procedures
(the
"Policy")
for
pre-approval
(within
specified
fee
limits)
of
the
Auditor's
engagements
for
non-audit
services
to
the
Registrant
and
Service
Affiliates
without
specific
case-by-case
consideration.
The
pre-approved
services
in
the
Policy
can
include
pre-approved
audit
services,
pre-approved
audit-related
services,
pre-approved
tax
services
and
pre-approved
all
other
services.
Pre-approval
considerations
include
whether
the
proposed
services
are
compatible
with
maintaining
the
Auditor's
independence.
Pre-approvals
pursuant
to
the
Policy
are
considered
annually.
(e)(2)
Note.
None
of
the
services
described
in
paragraphs
(b)
through
(d)
of
this
Item
4
were
approved
by
the
Audit
Committee
pursuant
to
paragraph
(c)(7)(i)(C)
of
Rule
2-01
of
Regulation
S-X.
(f)
None
of
the
hours
expended
on
the
principal
accountant's
engagement
to
audit
the
registrant's
financial
statements
for
the
most
recent
fiscal
year
were
attributed
to
work
performed
by
persons
other
than
the
principal
accountant's
full-time,
permanent
employees.
Non-Audit
Fees.
The
aggregate
non-audit
fees
billed
by
the
Auditor
for
services
rendered
to
the
Registrant,
and
rendered
to
Service
Affiliates,
for
the
Reporting
Periods
were
$1,839,548
in
2024
and
$1,398,227
in
2025.
Auditor
Independence.
The
Registrant's
Audit
Committee
has
considered
whether
the
provision
of
non-audit
services
that
were
rendered
to
Service
Affiliates,
which
were
not
pre-approved
(not
requiring
pre-approval),
is
compatible
with
maintaining
the
Auditor's
independence.
|
Item 5. |
Audit Committee of Listed Registrants. |
Not applicable.
Not applicable.
BNY Mellon Short Term Municipal
Bond Fund
ANNUAL FINANCIALS
AND OTHER INFORMATION
IMPORTANT NOTICE – CHANGES
TO ANNUAL AND SEMI-ANNUAL REPORTS
The Securities
and Exchange Commission (the “SEC”) has adopted rule and form amendments which have resulted
in changes to the design and delivery of annual and semi-annual fund reports (“Reports”). Reports are
now streamlined to highlight key information. Certain information previously included in Reports, including
financial statements, no longer appear in the Reports but will be available online within the Semi-Annual
and Annual Financials and Other Information, delivered free of charge to shareholders upon request,
and filed with the SEC.
Save
time. Save paper. View your next shareholder report online as soon as it’s available. Log into www.bny.com/investments
and sign up for eCommunications. It’s simple and only takes a few minutes.
The
views expressed in this report reflect those of the portfolio manager(s) only through the end of the period
covered and do not necessarily represent the views of BNY Mellon Investment Adviser, Inc. or any other
person in the BNY Mellon Investment Adviser, Inc. organization. Any such views are subject to change
at any time based upon market or other conditions and BNY Mellon Investment Adviser, Inc. disclaims
any responsibility to update such views. These views may not be relied on as investment advice and,
because investment decisions for a fund in the BNY Mellon Family of Funds are based on numerous factors,
may not be relied on as an indication of trading intent on behalf of any fund in the BNY Mellon
Family of
Funds.
Not FDIC-Insured
• Not Bank-Guaranteed • May Lose Value
Contents
Please note
the Annual Financials and Other Information only contains Items 7-11 required in Form
N-CSR. All other required items will be filed with the SEC.
Item
7. Financial Statements and Financial Highlights for Open-End Management Investment Companies.
BNY Mellon Short Term Municipal Bond
Fund
Statement of Investments
|
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Long-Term
Municipal Investments — 99.2% |
|
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Black
Belt Energy Gas District, Revenue Bonds (Project No. 4) Ser. A1(a)
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Black
Belt Energy Gas District, Revenue Bonds, Ser. B |
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Black
Belt Energy Gas District, Revenue Bonds, Ser. D |
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Selma
Industrial Development Board, Revenue Bonds, Refunding (International
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Arizona
Industrial Development Authority, Revenue Bonds (Equitable School
Revolving
Fund Obligated Group) Ser. A |
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Arizona
Industrial Development Authority, Revenue Bonds (Sustainable Bond)
(Equitable
School Revolving Fund Obligated Group) Ser. A |
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Arizona
Industrial Development Authority, Revenue Bonds (Sustainable Bond)
(Equitable
School Revolving Fund Obligated Group) Ser. A |
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Chandler
Industrial Development Authority, Revenue Bonds (Intel Corp.
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California
Municipal Finance Authority, Revenue Bonds (Sustainable Bond)
(Orchard
Park) (Insured; Build America Mutual) |
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California
Municipal Finance Authority, Revenue Bonds (United Airlines Project) |
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California
University, Revenue Bonds, Refunding, Ser. B2(a)
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Los
Angeles Department of Water & Power, Revenue Bonds, Refunding, Ser. D |
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Regional
Transportation District, Revenue Bonds, Refunding (Denver Transit
Partners)
Ser. A |
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Connecticut
Housing Finance Authority, Revenue Bonds, Refunding, Ser. C2 |
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Stamford
Housing Authority, Revenue Bonds (Mozaic Concierge Living) Ser. D |
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Collier
County Industrial Development Authority, Revenue Bonds (NCH
Healthcare
System Project) Ser. B1(a)
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Lee
County Industrial Development Authority, Revenue Bonds, Refunding, Ser. 1 |
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Miami-Dade
County Seaport Department, Revenue Bonds, Refunding, Ser. A |
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The
School Board of Miami-Dade County, COP, Refunding, Ser. A |
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Venice,
Revenue Bonds (Village on The Isle Project) Ser. B3(b)
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Village
Community Development District No. 15, Special Assessment Bonds(b)
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Village
Community Development District No. 15, Special Assessment Bonds(b)
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Main
Street Natural Gas, Inc., Revenue Bonds, Ser. A |
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Chicago
Park District, GO, Refunding, Ser. C |
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Cook
County, GO, Refunding, Ser. A |
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Cook
County, Revenue Bonds, Refunding |
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Statement of Investments (continued)
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Long-Term
Municipal Investments — 99.2% (continued) |
Illinois
— 6.2% (continued) |
Greater
Chicago Metropolitan Water Reclamation District, GO, Refunding, Ser. C |
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Illinois,
GO, Refunding, Ser. D |
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Indiana
Finance Authority, Revenue Bonds (Indiana University Health Obligated
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Indiana
Health Facility Financing Authority, Revenue Bonds (Ascension Health
Credit
Group) Ser. A |
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Iowa
Finance Authority, Revenue Bonds, Refunding (Lifespace Communities
Obligated
Group) Ser. B |
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PEFA,
Inc., Revenue Bonds (Gas Project)(a)
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Kentucky
Public Energy Authority, Revenue Bonds, Refunding, Ser. B |
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Maryland
Community Development Administration, Revenue Bonds (Sustainable
Bond)
Ser. D2 |
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Massachusetts
Development Finance Agency, Revenue Bonds, Refunding
(Emerson
College Issue) |
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Massachusetts
Educational Financing Authority, Revenue Bonds |
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Massachusetts
Port Authority, Revenue Bonds (Sustainable Bond) Ser. A |
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Detroit
Downtown Development Authority, Tax Allocation Bonds, Refunding
(Catalyst
Development Project) |
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Detroit
Regional Convention Facility Authority, Revenue Bonds, Refunding, Ser. C |
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Lansing
Board of Water & Light, Revenue Bonds, Ser. B(a)
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Saginaw
Hospital Finance Authority, Revenue Bonds, Refunding (Covenant
Medical
Center) |
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Minneapolis
MN/St Paul Housing & Redevelopment Authority, Revenue Bonds
(Children’s
Health Care) |
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Kansas
City Industrial Development Authority, Revenue Bonds (Kansas City
International
Airport) Ser. B |
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Missouri
Health & Educational Facilities Authority, Revenue Bonds, Refunding
(Lutheran
Senior Services Obligated Group) Ser. A |
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Clark
County School District, GO (Insured; Assured Guaranty Municipal Corp.)
Ser.
A |
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Humboldt
County, Revenue Bonds, Refunding (Sierra Pacific Power Company
Project)
Ser. B |
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New
Jersey Higher Education Student Assistance Authority, Revenue Bonds, Ser.
B
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Long-Term
Municipal Investments — 99.2% (continued) |
New
Jersey — 4.1% (continued) |
New
Jersey Higher Education Student Assistance Authority, Revenue Bonds,
Refunding,
Ser. A |
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New
Jersey Higher Education Student Assistance Authority, Revenue Bonds,
Refunding,
Ser. A |
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Tobacco
Settlement Financing Corp., Revenue Bonds, Refunding, Ser. A |
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New
Mexico Finance Authority, Revenue Bonds, Ser. A |
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New
York City, GO, Refunding, Ser. A1 |
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New
York City Housing Development Corp., Revenue Bonds (Sustainable Bond)
(Insured;
Federal Housing Administration) Ser. F2(a)
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New
York State Dormitory Authority, Revenue Bonds |
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New
York Transportation Development Corp., Revenue Bonds (Delta Air Lines) |
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New
York Transportation Development Corp., Revenue Bonds (JFK International
Air
Terminal) |
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New
York Transportation Development Corp., Revenue Bonds, Refunding (JFK
International
Air Terminal) |
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Triborough
Bridge & Tunnel Authority, Revenue Bonds, Ser. A1 |
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Cumberland
County Industrial Facilities & Pollution Control Financing Authority,
Revenue
Bonds (Project Aero)(a)
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North
Carolina Medical Care Commission, Revenue Bonds (Caromont Health
Obligated
Group) Ser. B(a)
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North
Carolina Medical Care Commission, Revenue Bonds (The United Methodist
Retirement
Homes Obligated Group) Ser. B-1 |
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Ohio,
Revenue Bonds (Cleveland Clinic Health System Obligated Group)(a)
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Ohio,
Revenue Bonds (Mental Health Facilities Improvement) Ser. A |
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Warren
County, Revenue Bonds, Refunding (Otterbein Homes Obligated Group) |
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Chester
County Industrial Development Authority, Revenue Bonds (Avon Grove
Charter
School) |
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Clairton
Municipal Authority, Revenue Bonds, Refunding, Ser. B |
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Delaware
River Joint Toll Bridge Commission, Revenue Bonds, Ser. A |
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Pennsylvania
Higher Education Assistance Agency, Revenue Bonds, Ser. A |
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Pennsylvania
Turnpike Commission, Revenue Bonds, Ser. B |
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Pennsylvania
Turnpike Commission, Revenue Bonds, Refunding (Insured;
Assured
Guaranty Municipal Corp.) Ser. A |
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Philadelphia
Gas Works Co., Revenue Bonds, Refunding, Ser. A |
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The
Philadelphia School District, GO (Insured; State Aid Withholding) Ser. A |
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Rhode
Island Student Loan Authority, Revenue Bonds, Ser. A |
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Statement of Investments (continued)
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Long-Term
Municipal Investments — 99.2% (continued) |
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Charleston
Educational Excellence Finance Corp., Revenue Bonds, Refunding
(Charleston
County School District) |
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Piedmont
Municipal Power Agency, Revenue Bonds, Refunding, Ser. B |
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Memphis-Shelby
County Airport Authority, Revenue Bonds, Refunding, Ser. B |
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Metropolitan
Government Nashville & Davidson County Health & Educational
Facs
Bd, Revenue Bonds (Vanderbilt University Medical Center) Ser. A |
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Arlington
Higher Education Finance Corp., Revenue Bonds (Harmony Public
Schools)
(Insured; Permanent School Fund Guarantee Program) |
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Arlington
Higher Education Finance Corp., Revenue Bonds (Riverwalk Education
Foundation,
Inc.) (Insured; Permanent School Fund Guaranteed) |
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Brazos
Higher Education Authority, Inc., Revenue Bonds (Student Loan Program)
Ser.
1A |
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Clifton
Higher Education Finance Corp., Revenue Bonds, Refunding (IDEA Public
Schools)
(Insured; Permanent School Fund Guarantee Program) |
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Clifton
Higher Education Finance Corp., Revenue Bonds, Refunding (International
Leadership
of Texas) (Insured; Permanent School Fund Guarantee Program)
Ser.
A |
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Houston
Airport System, Revenue Bonds (United Airlines) Ser. C |
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Houston
Airport System, Revenue Bonds, Refunding (United Airlines) |
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Lewisville
Independent School District, GO, Refunding (Insured; Permanent
School
Fund Guarantee Program) |
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Lubbock
Electric Light & Power System, Revenue Bonds, Refunding |
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North
Texas Tollway Authority, Revenue Bonds, Refunding, Ser. A |
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San
Antonio Electric & Gas Systems, Revenue Bonds, Refunding, Ser. D |
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Tarrant
County College District, GO |
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Tarrant
County Cultural Education Facilities Finance Corp., Revenue Bonds,
Refunding
(Cook Children’s Medical Center) |
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|
Tarrant
County Cultural Education Facilities Finance Corp., Revenue Bonds,
Refunding
(Trinity Terrace Project) |
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|
Tarrant
County Cultural Education Facilities Finance Corp., Revenue Bonds,
Refunding
(Trinity Terrace Project) |
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|
Texas
Municipal Gas Acquisition & Supply Corp. V, Revenue Bonds |
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|
Chesapeake
Economic Development Authority, Revenue Bonds (Virginia Electric
|
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|
|
|
|
|
Central
Puget Sound Regional Transit Authority, Revenue Bonds (Sustainable
Bond)
Ser. S1 |
|
|
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|
|
Grant
County Public Utility District No. 2, Revenue Bonds, Refunding, Ser. R(a)
|
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|
|
|
Port
of Seattle, Revenue Bonds, Refunding, Ser. B |
|
|
|
|
|
|
|
|
|
|
|
|
Long-Term
Municipal Investments — 99.2% (continued) |
Washington
— 4.6% (continued) |
Washington
Housing Finance Commission, Revenue Bonds, Refunding (Emerald
Heights
Project) Ser. A |
|
|
|
|
|
Washington
Housing Finance Commission, Revenue Bonds, Refunding (Emerald
Heights
Project) Ser. A |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Public
Finance Authority, Revenue Bonds (Astro Texas Land Project) |
|
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|
|
Public
Finance Authority, Revenue Bonds, Refunding (Lindenwood Education
|
|
|
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|
|
Public
Finance Authority, Revenue Bonds, Refunding (Triad Educational Services,
Inc.)
|
|
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|
|
Wisconsin
Health & Educational Facilities Authority, Revenue Bonds (Forensic
Science
& Protective Medicine Collaboration)(b)
|
|
|
|
|
|
|
|
|
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|
|
Total
Investments (cost $129,706,760)
|
|
|
|
Cash
and Receivables (Net) |
|
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|
|
COP—Certificate
of Participation |
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|
These
securities have a put feature; the date shown represents the put date and the bond holder can take a specific action to retain the bond
after the put date. |
|
|
Security
exempt from registration pursuant to Rule 144A under the Securities Act of 1933. These securities may be resold in transactions exempt
from
registration,
normally to qualified institutional buyers. At March 31, 2025, these securities amounted to $4,066,948 or 3.1% of net assets.
|
See notes to financial
statements.
STATEMENT
OF ASSETS AND LIABILITIES
March 31, 2025
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|
|
Investments
in securities—See Statement of Investments |
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|
|
Receivable
for shares of Beneficial Interest subscribed |
|
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|
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|
|
|
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|
Due
to BNY Mellon Investment Adviser, Inc. and affiliates—Note
3(c)
|
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|
Payable
for investment securities purchased |
|
|
Payable
for shares of Beneficial Interest redeemed |
|
|
Trustees’
fees and expenses payable |
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|
Composition
of Net Assets ($): |
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|
|
Total
distributable earnings (loss) |
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|
|
Net
Asset Value Per Share |
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|
Net
Asset Value Per Share ($) |
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|
See notes to financial statements.
Year Ended March 31,
2025
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Service
Plan fees—Note 3(b)
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Shareholder
servicing costs—Note 3(c)
|
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|
|
Chief
Compliance Officer fees—Note 3(c)
|
|
Prospectus
and shareholders’ reports |
|
Trustees’
fees and expenses—Note 3(d)
|
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|
Loan
commitment fees—Note 2 |
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Less—reduction
in expenses due to undertaking—Note 3(a)
|
|
Less—reduction
in fees due to earnings credits—Note 3(c)
|
|
|
|
|
|
|
|
Realized
and Unrealized Gain (Loss) on Investments—Note 4 ($):
|
|
Net
realized gain (loss) on investments |
|
Net
change in unrealized appreciation (depreciation) on investments |
|
Net
Realized and Unrealized Gain (Loss) on Investments |
|
Net
Increase in Net Assets Resulting from Operations |
|
See notes to financial statements.
STATEMENT
OF CHANGES IN NET ASSETS
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|
Net
realized gain (loss) on investments |
|
|
Net
change in unrealized appreciation (depreciation) on investments |
|
|
Net
Increase (Decrease) in Net Assets Resulting from Operations |
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|
|
Distributions
to shareholders: |
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|
Beneficial
Interest Transactions ($): |
|
|
Net
proceeds from shares sold: |
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|
Distributions
reinvested: |
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|
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|
|
|
|
|
|
|
|
|
|
Increase
(Decrease) in Net Assets from Beneficial Interest Transactions |
|
|
Total
Increase (Decrease) in Net Assets |
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|
|
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Capital
Share Transactions (Shares): |
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|
|
|
|
|
|
|
|
Shares
issued for distributions reinvested |
|
|
|
|
|
|
Net
Increase (Decrease) in Shares Outstanding |
|
|
|
|
|
|
|
|
|
|
Shares
issued for distributions reinvested |
|
|
|
|
|
|
Net
Increase (Decrease) in Shares Outstanding |
|
|
|
|
|
|
|
|
|
|
Shares
issued for distributions reinvested |
|
|
|
|
|
|
Net
Increase (Decrease) in Shares Outstanding |
|
|
See notes to financial statements.
The
following tables describe the performance for each share class for the fiscal periods indicated. All information (except portfolio turnover
rate) reflects financial results for
a single fund share. Net asset value total return is calculated assuming an initial investment made at the net asset
value at the beginning of the period, reinvestment of all dividends and distributions at net asset value during the period, and redemption
at net asset value on the last day
of the period. Net asset value total return includes adjustments in accordance with accounting principles generally
accepted in the United States of America and as such, the net asset value for financial reporting purposes and the returns based upon
those net asset values may differ from the net asset
value and returns for shareholder transactions.
|
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|
Net
asset value, beginning of period |
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|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net
realized and unrealized gain (loss) on investments |
|
|
|
|
|
Total
from Investment Operations |
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|
|
|
|
|
|
|
|
|
|
|
Dividends
from net investment income |
|
|
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|
|
Net
asset value, end of period |
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|
|
|
|
|
|
|
|
Ratios/Supplemental
Data (%): |
|
|
|
|
Ratio
of total expenses to average net assets |
|
|
|
|
|
Ratio
of net expenses to average net assets(d),(e)
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|
|
|
|
Ratio
of net investment income to average net assets(d),(e)
|
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|
|
|
|
|
|
|
|
|
|
|
Net
Assets, end of period ($ x 1,000) |
|
|
|
|
|
|
|
Based
on average shares outstanding. |
|
|
Amount
represents less than $.01 per share. |
|
|
Exclusive
of sales charge. |
|
|
Amount
inclusive of reduction in expenses due to undertaking. |
|
|
Amount
inclusive of reductions in fees due to earnings credits. |
See notes to financial statements.
|
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|
|
|
|
|
|
|
|
|
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|
|
Net
asset value, beginning of period |
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|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net
realized and unrealized gain (loss) on investments |
|
|
|
|
|
Total
from Investment Operations |
|
|
|
|
|
|
|
|
|
|
|
|
Dividends
from net investment income |
|
|
|
|
|
Net
asset value, end of period |
|
|
|
|
|
|
|
|
|
|
|
|
Ratios/Supplemental
Data (%): |
|
|
|
|
Ratio
of total expenses to average net assets |
|
|
|
|
|
Ratio
of net expenses to average net assets(b),(c)
|
|
|
|
|
|
Ratio
of net investment income to average net assets(b),(c)
|
|
|
|
|
|
|
|
|
|
|
|
|
Net
Assets, end of period ($ x 1,000) |
|
|
|
|
|
|
|
Based
on average shares outstanding. |
|
|
Amount
inclusive of reduction in expenses due to undertaking. |
|
|
Amount
inclusive of reductions in fees due to earnings credits. |
See notes to financial statements.
FINANCIAL
HIGHLIGHTS (continued)
|
|
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|
|
|
|
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|
|
Net
asset value, beginning of period |
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|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net
realized and unrealized gain (loss) on investments |
|
|
|
|
|
Total
from Investment Operations |
|
|
|
|
|
|
|
|
|
|
|
|
Dividends
from net investment income |
|
|
|
|
|
Net
asset value, end of period |
|
|
|
|
|
|
|
|
|
|
|
|
Ratios/Supplemental
Data (%): |
|
|
|
|
Ratio
of total expenses to average net assets |
|
|
|
|
|
Ratio
of net expenses to average net assets(b),(c)
|
|
|
|
|
|
Ratio
of net investment income to average net assets(b),(c)
|
|
|
|
|
|
|
|
|
|
|
|
|
Net
Assets, end of period ($ x 1,000) |
|
|
|
|
|
|
|
Based
on average shares outstanding. |
|
|
Amount
inclusive of reduction in expenses due to undertaking. |
|
|
Amount
inclusive of reductions in fees due to earnings credits. |
See notes to financial statements.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net
asset value, beginning of period |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net
realized and unrealized gain (loss) on investments |
|
|
|
|
|
Total
from Investment Operations |
|
|
|
|
|
|
|
|
|
|
|
|
Dividends
from net investment income |
|
|
|
|
|
Net
asset value, end of period |
|
|
|
|
|
|
|
|
|
|
|
|
Ratios/Supplemental
Data (%): |
|
|
|
|
Ratio
of total expenses to average net assets |
|
|
|
|
|
Ratio
of net expenses to average net assets(b),(c)
|
|
|
|
|
|
Ratio
of net investment income to average net assets(b),(c)
|
|
|
|
|
|
|
|
|
|
|
|
|
Net
Assets, end of period ($ x 1,000) |
|
|
|
|
|
|
|
Based
on average shares outstanding. |
|
|
Amount
inclusive of reduction in expenses due to undertaking. |
|
|
Amount
inclusive of reductions in fees due to earnings credits. |
See notes to financial statements.
NOTES
TO FINANCIAL STATEMENTS
NOTE
1—
Significant
Accounting Policies:
BNY Mellon
Short Term Municipal Bond Fund (the “fund”), which is registered under the Investment Company Act of 1940, as amended
(the “Act”), is a diversified open-end management investment company. The fund’s investment objective is to seek to
maximize current income exempt from
federal income tax to the extent consistent with the preservation of capital. BNY Mellon Investment Adviser,
Inc. (the “Adviser”), a wholly-owned subsidiary of The Bank of New York Mellon Corporation (“BNY”), serves as
the fund’s investment adviser.
Insight North America LLC (the “Sub-Adviser”),
an indirect wholly-owned subsidiary of BNY and an affiliate of the Adviser,
serves as the fund’s sub-adviser.
BNY Mellon
Securities Corporation (the “Distributor”), a wholly-owned subsidiary of the Adviser, is the distributor of the fund’s
shares. The fund is authorized to
issue an unlimited number of $.001 par value shares of Beneficial Interest in each of the following classes of shares:
Class A, Class D, Class I and Class Y. Class A shares generally are subject to a sales charge imposed at the time of purchase. Class
A shares bought without an initial sales charge as part of an investment of $250,000 or more may be charged a contingent deferred sales
charge (“CDSC”)
of 1.00% if redeemed within one year and bear Shareholder Services Plan fees. Class D shares are sold at net asset value
per share directly by the Adviser and through certain banks and fund supermarkets, and as a part of certain wrap-fee programs and bear
Service Plan fees. Class I shares are sold primarily to bank trust departments and other financial service providers (including BNY and
its affiliates), acting on behalf of customers having a qualified trust or an investment account or relationship at such institution,
and bear no Service or Shareholder
Services Plan fees. Class Y shares are sold at net asset value per share generally to institutional investors, and
bear no Service or Shareholder Services Plan fees. Class I and Class Y shares are offered without a front-end sales charge or CDSC. Other
differences between the classes include the services offered to and the expenses borne by each class, the allocation of certain transfer
agency costs and certain voting rights. Income, expenses (other than expenses attributable to a specific class), and realized and unrealized
gains or losses on investments are allocated to each class of shares based on its relative net assets.
As of March
31, 2025, MBC Investments Corporation, an indirect subsidiary of BNY, held all of the outstanding Class Y shares of the fund.
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 SEC under authority of federal laws are also sources of authoritative GAAP for SEC registrants.
The fund is an investment company
and applies the accounting and reporting guidance of the FASB ASC Topic 946 Financial Services-Investment
Companies. 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.
The fund enters
into contracts that contain a variety of indemnifications. The fund’s maximum exposure under these arrangements is unknown.
The fund does not anticipate recognizing any loss related to these arrangements.
(a) Portfolio
valuation: 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.
NOTES
TO FINANCIAL STATEMENTS (continued)
Changes
in valuation techniques may result in transfers in or out of an assigned level within the disclosure hierarchy. Valuation techniques
used to value the fund’s investments are as follows:
The fund’s
Board of Trustees (the “Board”) has designated the Adviser as the fund’s valuation designee to make all fair value
determinations with respect to the fund’s portfolio
investments, subject to the Board’s oversight and pursuant to Rule 2a-5 under the Act.
Investments
in municipal securities are valued each business day by an independent pricing service (the “Service”) approved by the Board.
Investments for which quoted bid prices are readily available and are representative of the bid side of the market in the judgment of
the Service are valued at the mean between the quoted bid prices (as obtained by the Service from dealers in such securities) and asked
prices (as calculated by the Service
based upon its evaluation of the market for such securities). Municipal investments (which constitute a
majority of the portfolio securities) are carried at fair value as determined by the Service, based on methods which include consideration
of the following: yields or prices of municipal securities of comparable quality, coupon, maturity and type; indications as to values
from dealers; and general market
conditions. The Service is engaged under the general oversight of the Board. All of the preceding securities
are generally categorized within Level 2 of the fair value hierarchy.
When market
quotations or official closing prices are not readily available, or are determined not to reflect accurately fair value, such as when
the value of a security has been significantly affected by events after the close of the exchange or market on which the security is principally
traded, but before the fund calculates its net asset value, the fund may value these investments at fair value as determined in accordance
with the procedures approved by the Board. Certain factors may be considered when fair valuing investments such as: fundamental
analytical data, the nature and duration of restrictions on disposition, an evaluation of the forces that influence the market in which
the securities are purchased and sold, and public trading in similar securities of the issuer or comparable issuers. These securities
are either categorized within Level 2 or 3 of the
fair value hierarchy depending on the relevant inputs used.
For securities
where observable inputs are limited, assumptions about market activity and risk are used and such securities are generally categorized
within Level 3 of the fair value hierarchy.
The following is a summary
of the inputs used as of March 31, 2025 in valuing the fund’s investments:
|
|
Level
1 -
Unadjusted
Quoted
Prices |
Level
2- Other
Significant
Observable
Inputs |
Level
3-
Significant
Unobservable
Inputs
|
|
|
|
|
|
|
|
Investments
in Securities:†
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
See
Statement of Investments for additional detailed categorizations, if any. |
(b) Securities
transactions and investment income: Securities transactions
are recorded on a trade date basis. Realized gains and losses
from securities transactions are recorded on the identified cost basis. Interest income, adjusted for accretion of discount and amortization
of premium on investments, is earned from settlement date and is recognized on the accrual basis. Securities purchased or sold
on a when-issued or delayed delivery basis may be settled a month or more after the trade date.
(c) Market
Risk: The value of the securities in which the fund
invests may be affected by political, regulatory, economic and social developments,
and developments that impact specific economic sectors, industries or segments of the market. In addition, turbulence in financial
markets and reduced liquidity in equity, credit and/or fixed-income markets may negatively affect many issuers, which could adversely
affect the fund. Global economies and financial markets are becoming increasingly interconnected, and conditions and events in
one country, region or financial market may adversely impact issuers in a different country, region or financial market. These risks may
be magnified if certain events or developments adversely interrupt the global supply chain; in these and other circumstances, such risks
might affect companies world-wide.
Interest Rate Risk:
Prices of bonds and other fixed rate fixed-income securities tend to move inversely with changes in interest rates. Typically,
a rise in rates will adversely affect fixed-income securities and, accordingly, will cause the value of the fund’s investments in
these securities to decline. Interest
rates in the United States have recently been rising. A wide variety of market factors can cause interest rates
to rise, including central bank monetary policy, rising inflation and changes in general economic conditions. It is difficult to
NOTES
TO FINANCIAL STATEMENTS (continued)
predict
the pace at which central banks or monetary authorities may increase (or decrease) interest rates or the timing, frequency, or magnitude
of such changes. During periods of very low interest rates, which occur from time to time due to market forces or actions of governments
and/or their central banks, including the Board of Governors of the Federal Reserve System in the U.S., the fund may be subject
to a greater risk of principal decline from rising interest rates. When interest rates fall, the fund’s investments in new securities
may be at lower yields and may reduce
the fund’s income. Changing interest rates may have unpredictable effects on markets, may result in
heightened market volatility and may detract from fund performance. The magnitude of these fluctuations in the market price of fixed-income
securities is generally greater for securities with longer effective maturities and durations because such instruments do not mature,
reset interest rates or become callable for longer periods of time. Unlike investment grade bonds, however, the prices of high yield
(“junk”)
bonds may fluctuate unpredictably and not necessarily inversely with changes in interest rates.
Municipal Securities Risk:
The amount of public information available about municipal securities is generally less than that for corporate
equities or bonds. Special factors, such as legislative changes, and state and local economic and business developments, may adversely
affect the yield and/or value of the fund’s investments in municipal securities. Other factors include the general conditions of
the municipal securities market,
the size of the particular offering, the maturity of the obligation and the rating of the issue. Changes in economic,
business or political conditions relating to a particular municipal project, municipality, or state, territory or possession of the United
States in which the fund invests may have an impact on the fund’s share price. Any such credit impairment could adversely impact
the value of their bonds, which could negatively impact the performance of the fund.
(d) Dividends
and distributions to shareholders: It is the policy
of the fund to declare dividends daily from net investment income. Such
dividends are paid monthly. Dividends from net realized capital gains, if any, are normally declared and paid annually, but the fund may
make distributions on a more frequent basis to comply with the distribution requirements of the Internal Revenue Code of 1986, as
amended (the “Code”). To the extent that net realized capital gains can be offset by capital loss carryovers, it is the policy
of the fund not to distribute such
gains. Income and capital gain distributions are determined in accordance with income tax regulations, which may
differ from GAAP.
(e) Federal
income taxes: It is the policy of the fund to continue
to qualify as a regulated investment company, which can distribute tax-exempt
dividends, by complying with the applicable provisions of the Code, and to make distributions of income and net realized capital
gain sufficient to relieve it from substantially all federal income and excise taxes.
As of and
during the period ended March 31, 2025, the fund did not have any liabilities for any uncertain tax positions. The fund recognizes
interest and penalties, if any, related to uncertain tax positions as income tax expense in the Statement of Operations. During the
period ended March 31, 2025, the fund did not incur any interest or penalties.
Each tax year
in the four-year period ended March 31, 2025 remains subject to examination by the Internal Revenue Service and state taxing
authorities.
At March 31,
2025, the components of accumulated earnings on a tax basis were as follows: undistributed tax-exempt income $281,606,
accumulated capital losses $5,437,974 and unrealized depreciation $702,068.
The fund is
permitted to carry forward capital losses for an unlimited period. Furthermore, capital loss carryovers retain their character as
either short-term or long-term capital losses.
The accumulated
capital loss carryover is available for federal income tax purposes to be applied against future net realized capital gains, if
any, realized subsequent to March 31, 2025. The fund has $805,739 of short-term capital losses and $4,632,235 of long-term capital losses
which can be carried forward for an unlimited period.
The tax character
of distributions paid to shareholders during the fiscal years ended March 31, 2025 and March 31, 2024 were as follows:
tax-exempt income $2,573,896 and $2,064,602, respectively.
(f) Operating
segment reporting: In this reporting period, the
fund adopted FASB Accounting Standards Update 2023-07, Segment Reporting
(Topic 280) - Improvements to Reportable Segment Disclosures (“ASU 2023-07”). Adoption of the new standard impacted financial
statement disclosures only and did not affect the fund’s financial position or the results of its operations. The ASU 2023-07 is
effective for public entities for
fiscal years beginning after December 15, 2023, and requires retrospective application for all prior periods presented
within the financial statements.
Since its
commencement, the fund operates and is managed as a single reportable segment deriving returns in the form of dividends, interest
and/or gains from the investments made in pursuit of its single stated investment objective as outlined in the fund’s prospectus.
The accounting policies of the fund
are consistent with those described in these Notes to Financial Statements. The chief operating decision
maker (“CODM”) is represented by BNY Investments, the management of the Adviser, comprising Senior Management and
NOTES
TO FINANCIAL STATEMENTS (continued)
Directors.
The CODM considers net increase in net assets resulting from operations in deciding whether to purchase additional investments
or to make distributions to fund shareholders. Detailed financial information for the fund is disclosed within these financial
statements with total assets and
liabilities disclosed on the Statement of Assets and Liabilities, investments held on the Statement of Investments,
results of operations and significant segment expenses on the Statement of Operations and other information about the fund’s
performance, including total return, portfolio turnover and ratios within the Financial Highlights.
NOTE
2—
Bank
Lines of Credit:
The fund participates
with other long-term open-end funds managed by the Adviser in a $738 million unsecured credit facility led by Citibank,
N.A. (the “Citibank Credit Facility”) and a $300 million unsecured credit facility provided by BNY (the “BNY Credit
Facility”), each to be utilized
primarily for temporary or emergency purposes, including the financing of redemptions (each, a “Facility”).
The Citibank Credit Facility is available in two tranches: (i) Tranche A is in an amount equal to $618 million and is available to all
long-term open-ended funds, including
the fund, and (ii) Tranche B is an amount equal to $120 million and is available only to BNY Mellon
Floating Rate Income Fund, a series of BNY Mellon Investment Funds IV, Inc. In connection therewith, the fund has agreed to pay
its pro rata portion of commitment fees for Tranche A of the Citibank Credit Facility and the BNY Credit Facility. Interest is charged
to the fund based on rates determined pursuant to the terms of the respective Facility at the time of borrowing. During the period
ended March 31, 2025, the fund did not borrow under either Facility.
NOTE
3—
Management
Fee, Sub-Advisory Fee
and Other Transactions with Affiliates:
(a) Pursuant
to a management agreement with the Adviser, the management fee is computed at the annual rate of .25% of the value of the
fund’s average daily net assets and is payable monthly. The Adviser has contractually agreed, from April 1, 2024 through August
1, 2025, to waive receipt of its
fees and/or assume the direct expenses of the fund so that the direct expenses of none of the fund’s share classes
(excluding Rule 12b-1 Service Plan fees, Shareholder Services Plan fees, taxes, interest expense, brokerage commissions, commitment
fees on borrowings and extraordinary expenses) exceed .39% of the value of the fund’s average daily net assets. On or after August
1, 2025, the Adviser may terminate this expense limitation agreement at any time. The reduction in expenses, pursuant to the undertaking,
amounted to $113,873 during the period ended March 31, 2025.
Pursuant to
a sub-investment advisory agreement between the Adviser and the Sub-Adviser, the Adviser pays the Sub-Adviser a monthly fee
at an annual rate of .12% of the value of the fund’s average daily net assets.
(b) Under
the Service Plan (the “Plan”)
adopted pursuant to Rule 12b-1 under the Act, Class D shares pay the Distributor for distributing
its shares at an annual rate of .10% of the value of its average daily net assets. The Distributor may pay one or more Service Agents
in respect of shares owned by shareholders with whom the Service Agent has a servicing relationship or for whom the Service Agent
is the dealer or holder of record and determines the amounts, if any, to be paid to Service Agents and the basis on which such payments
are made. Pursuant to the Plan, Class D shares bear (i) the costs of preparing, printing and distributing prospectuses and statements
of additional information used other than for regulatory purposes or distribution to existing shareholders, and (ii) the costs associated
with implementing and operating the Plan (such as costs of printing and mailing service agreements), the aggregate of such amounts
not to exceed in any fiscal year of the fund the greater of $100,000 or .005% of the value of its average daily net assets for any full
fiscal year. During the period ended March 31, 2025, Class D shares were charged $102,904 pursuant to the Service Plan.
(c) Under
the Shareholder Services Plan, Class A shares pay the Distributor at an annual rate of .25% of the value of their average daily net
assets for the provision of certain services. The services provided may include personal services relating to shareholder accounts, such
as answering shareholder inquiries
regarding the fund, and services related to the maintenance of shareholder accounts. The Distributor may
make payments to Service Agents (securities dealers, financial institutions or other industry professionals) with respect to these services.
The Distributor determines the amounts to be paid to Service Agents. During the period ended March 31, 2025, Class A shares were
charged $22,321 pursuant to the Shareholder Services Plan.
The fund has
arrangements with BNY Mellon Transfer, Inc., (the “Transfer Agent”) and The Bank of New York Mellon (the “Custodian”),
both a subsidiary of BNY and an affiliate of the Adviser, whereby the fund may receive earnings credits when positive cash balances
are maintained, which are used to offset Transfer Agent and Custodian fees. For financial reporting purposes, the fund includes transfer
agent net earnings credits, if any, and custody net earnings credits, if any, as an expense offset in the Statement of Operations.
The fund compensates
the Transfer Agent, under a transfer agency agreement, for providing transfer agency and cash management services
for the fund. The majority of Transfer Agent fees are comprised of amounts paid on a per account basis, while cash management
NOTES
TO FINANCIAL STATEMENTS (continued)
fees
are related to fund subscriptions and redemptions. During the period ended March 31, 2025, the fund was charged $23,544 for transfer
agency services. These fees are included in Shareholder servicing costs in the Statement of Operations. These fees were partially offset
by earnings credits of $1,030.
The fund compensates
the Custodian, under a custody agreement, for providing custodial services for the fund. These fees are determined
based on net assets, geographic region and transaction activity. During the period ended March 31, 2025, the fund was charged $3,254
pursuant to the custody agreement. These fees were offset by earnings credits of $3,254.
The fund compensates
the Custodian, under a shareholder redemption draft processing agreement, for providing certain services related to
the fund’s check writing privilege. During the period ended March 31, 2025, the fund was charged $1,914 pursuant to the agreement,
which is included in Shareholder servicing costs in the Statement of Operations.
During the
period ended March 31, 2025, the fund was charged $27,002 for services performed by the fund’s Chief Compliance Officer
and his staff. These fees are included in Chief Compliance Officer fees in the Statement of Operations.
The components
of “Due to BNY Mellon Investment Adviser, Inc. and affiliates” in the Statement of Assets and Liabilities consist of:
Management fee of $27,974, Service Plan fees of $8,345, Shareholder Services Plan fees of $1,557, Custodian fees of $1,395, Chief Compliance
Officer fees of $8,370, Transfer Agent fees of $3,858 and Checkwriting fees of $138, which are offset against an expense reimbursement
currently in effect in the amount of $13,601.
(d) Each
board member of the fund also serves as a board member of other funds in the BNY Mellon Family of Funds complex. Annual retainer
fees and attendance fees are allocated to each fund based on net assets.
NOTE
4—
Securities
Transactions:
The aggregate
amount of purchases and sales of investment securities, excluding short-term securities, during the period ended March
31, 2025, amounted to $55,792,780 and $65,059,848, respectively.
At March 31,
2025, the cost of investments for federal income tax purposes was $129,692,645; accordingly, accumulated net unrealized depreciation
on investments was $702,068, consisting of $322,452 gross unrealized appreciation and $1,024,520 gross unrealized depreciation.
REPORT
OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM
To the
Shareholders and the Board of Trustees of BNY Mellon Short Term Municipal Bond Fund
Opinion on the Financial Statements
We have audited
the accompanying statement of assets and liabilities of BNY Mellon Short Term Municipal Bond Fund (the “Fund”),
including the statement of investments,
as of March 31, 2025, and the related statement of operations for the year then ended, the statements of changes in net assets for
each of the two years in the period then ended, the financial highlights for each of the five years in the period then ended and the related
notes (collectively referred to as
the “financial
statements”).
In our opinion, the financial statements present fairly, in all material respects, the financial position
of the Fund at March 31, 2025, the results of its operations for the year then ended, the changes in its net assets for each of the two
years in the period then ended and
its financial highlights for each of the five years in the period then ended, in conformity with U.S. generally accepted accounting
principles.
These financial
statements are the responsibility of the Fund’s management. Our responsibility is to express an opinion on the Fund’s financial
statements based on our audits. We
are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (“PCAOB”)
and are required to be independent with respect to the Fund in accordance with the U.S. federal securities laws and the applicable rules
and regulations of the Securities and Exchange Commission
and the PCAOB.
We conducted
our audits in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable
assurance about whether the financial statements are free of material misstatement, whether due to error or fraud. The Fund is not required
to have, nor were we engaged to perform,
an audit of the Fund’s internal control over financial reporting. As part of our audits, we are required to obtain
an understanding of internal control over financial reporting but not for the purpose of expressing an opinion on the effectiveness of
the Fund’s internal control over financial reporting.
Accordingly, we express no such opinion.
Our audits
included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error or fraud,
and performing procedures that respond
to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures
in the financial statements. Our procedures included confirmation of securities owned as of March 31, 2025, by correspondence with the
custodian, brokers and others; when
replies were not received from brokers and others, we performed other auditing procedures. Our audits also included
evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation
of the financial statements. We believe that our audits
provide a reasonable basis for our opinion. 
We have served
as the auditor of one or more investment companies in the BNY Mellon Family of Funds since at least 1957, but we are unable to determine
the specific year.
New
York, New York
May 22, 2025
IMPORTANT
TAX INFORMATION (Unaudited)
In
accordance with federal tax law, the fund hereby reports all the dividends paid from net investment income during the fiscal year ended
March 31, 2025 as “exempt-interest dividends” (not subject to regular federal income tax, and for individuals who are New
York residents, New York State and
New York City personal income taxes). Where required by federal tax law rules, shareholders will receive notification
of their portion of the fund’s taxable ordinary dividends (if any), capital gains distributions (if any) and tax-exempt dividends
paid for the 2025 calendar year on Form 1099-DIV, which will be mailed in early 2026.
Item
8. Changes in and Disagreements with Accountants for Open-End Management Investment Companies
(Unaudited)
Item
9. Proxy Disclosures for Open-End Management Investment Companies (Unaudited)
Item
10. Remuneration Paid to Directors, Officers, and Others of Open-End Management Investment Companies
(Unaudited)
Each
board member also serves as a board member of other funds in the BNY Mellon Family of Funds complex. Annual retainer fees and attendance
fees are allocated to each fund based
on net assets. Trustees fees paid by the fund are within Item 7. Statement of Operations as Trustees’ fees and expenses.
Item
11. Statement Regarding Basis for Approval of Investment Advisory Contracts (Unaudited)
©
2025 BNY Mellon Securities Corporation
Code-6219NCSRAR0325
|
Item 12. |
Disclosure of Proxy Voting Policies and Procedures for Closed-End Management Investment Companies. |
Not applicable.
|
Item 13. |
Portfolio Managers for Closed-End Management Investment Companies. |
Not applicable.
|
Item 14. |
Purchases of Equity Securities By Closed-End Management Investment Companies and Affiliated Purchasers.
|
Not applicable.
|
Item 15. |
Submission of Matters to a Vote of Security Holders. |
There have been no material changes to the procedures
applicable to Item 15.
|
Item 16. |
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-CSR 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-CSR 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 period covered by this report that have materially affected, or are reasonably likely to materially affect, the Registrant's
internal control over financial reporting. |
|
Item 17. |
Disclosure of Securities Lending Activities for Closed-End Management Investment Companies. |
Not applicable.
|
Item 18. |
Recovery of Erroneously Awarded Compensation. |
Not applicable.
(a)(1) Code of ethics referred to in Item 2.
(a)(3) Not applicable.
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.
BNY
Mellon
Short
Term
Municipal
Bond
Fund
By: /s/
David
J.
DiPetrillo
David
J.
DiPetrillo
President
(Principal
Executive
Officer)
Date: May
22,
2025
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.
By: /s/
David
J.
DiPetrillo
David
J.
DiPetrillo
President
(Principal
Executive
Officer)
Date: May
22,
2025
By: /s/
James
Windels
James
Windels
Treasurer
(Principal
Financial
Officer)
Date: May
21,
2025
EXHIBIT
INDEX
|
(a)(1) |
Code of ethics referred to in Item 2. |
|
(a)(2) |
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) |
|
(b) |
Certification of principal executive and principal financial officers as required by Rule 30a-2(b)
under the Investment Company Act of 1940. (EX-99.906CERT) |
