0000910472-11-000821.txt : 20110531
0000910472-11-000821.hdr.sgml : 20110530
20110531161810
ACCESSION NUMBER: 0000910472-11-000821
CONFORMED SUBMISSION TYPE: NSAR-B
PUBLIC DOCUMENT COUNT: 2
CONFORMED PERIOD OF REPORT: 20110331
FILED AS OF DATE: 20110531
DATE AS OF CHANGE: 20110531
EFFECTIVENESS DATE: 20110531
FILER:
COMPANY DATA:
COMPANY CONFORMED NAME: SANTA BARBARA GROUP OF MUTUAL FUNDS INC
CENTRAL INDEX KEY: 0000895645
IRS NUMBER: 000000000
STATE OF INCORPORATION: MD
FILING VALUES:
FORM TYPE: NSAR-B
SEC ACT: 1940 Act
SEC FILE NUMBER: 811-07414
FILM NUMBER: 11881571
BUSINESS ADDRESS:
STREET 1: 14020 S. 147TH ST.
CITY: OMAHA
STATE: NE
ZIP: 68137
BUSINESS PHONE: 626-844-1441
MAIL ADDRESS:
STREET 1: 1270 HILLCREST AVENUE
CITY: PASADENA
STATE: CA
ZIP: 91106
FORMER COMPANY:
FORMER CONFORMED NAME: ASCHER FUNDS INC
DATE OF NAME CHANGE: 19930328
0000895645
S000011045
PFW Water Fund
C000030473
PFW Water Fund Class A
PFWAX
C000030474
PFW Water Fund Class C
PFWCX
C000089631
PFW Water Fund Class I
0000895645
S000011046
Montecito Fund
C000030476
Montecito Fund
MONAX
NSAR-B
1
answer.fil
SBG ANNUAL REPORT 3/31/11
PAGE 1
000 B000000 03/31/2011
000 C000000 0000895645
000 D000000 N
000 E000000 NF
000 F000000 Y
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000 H000000 N
000 I000000 6.1
000 J000000 A
001 A000000 THE SANTA BARBARA GROUP OF MUTUAL FUNDS, INC.
001 B000000 811-07414
001 C000000 6268441440
002 A000000 1270 HILLCREST AVENUE
002 B000000 PASADENDA
002 C000000 CA
002 D010000 91106
003 000000 N
004 000000 N
005 000000 N
006 000000 N
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007 C010100 1
007 C020100 PFW WATER FUND
007 C030100 N
007 C010200 2
007 C020200 MONTECITO FUND
007 C030200 N
007 C010300 3
007 C010400 4
007 C010500 5
007 C010600 6
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012 A00AA01 GEMINI FUND SERVICES, LLC
012 B00AA01 84-1964
012 C01AA01 OMAHA
012 C02AA01 NE
012 C03AA01 68137
013 A00AA01 COHEN FUND AUDIT SERVICES, LTD.
013 B01AA01 WESTLAKE
013 B02AA01 OH
013 B03AA01 44145
018 00AA00 Y
019 A00AA00 N
019 B00AA00 0
020 A000001 TRADE MANAGE CAPITAL
020 C000001 20
020 A000002 CHARLES SCHWAB & CO.
PAGE 2
020 C000002 4
020 A000003 WEDBUSH SECURITIES
020 C000003 6
020 A000004 UBS SECURITIES, INC.
020 C000004 2
020 A000005 JANNEY MONTGOMERY SCOTT
020 C000005 3
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022 C000001 725
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022 A000002 BANK OF NEW YORK
022 C000002 1380
022 D000002 1898
022 A000003 UBS SECURITIES INC
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022 A000004 WEEDEN & CO.
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PAGE 3
080 A00AA00 ST. PAUL FIRE & MARINE INSURANCE CO.
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010 C010101 HAUPPAUGE
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011 A000101 CAPITAL RESARCH BROKERAGE SERVICES, LLC
011 B000101 8-49213
011 C010101 PASADENA
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011 C030101 91105
015 A000101 THE BANK OF NEW YORK
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PAGE 4
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PAGE 5
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PAGE 6
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PAGE 7
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PAGE 8
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PAGE 9
008 A000201 HILLCREST WELLS ADVISORS, LLP
008 B000201 A
008 C000201 801-70928
008 D010201 PASADENA
008 D020201 CA
008 D030201 91106
010 A000201 GEMINI FUND SERVICES, LLC
010 C010201 HAUPPAUGE
010 C020201 NY
010 C030201 11788
011 A000201 CAPITAL RESEARCH BROKERAGE SERVICES, LLC
011 B000201 8-49213
011 C010201 PASADENA
011 C020201 CA
011 C030201 91105
015 A000201 THE BANK OF NEW YORK
015 B000201 C
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015 C020201 NY
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PAGE 10
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PAGE 11
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PAGE 12
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PAGE 13
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PAGE 14
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SIGNATURE JIM COLANTINO
TITLE VP ADMINISTRATION
EX-99.77B ACCT LTTR
2
icletter.txt
SBG ANNUAL REPORT 3/31/11 INTERNAL CONTROLS LETTER
REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM
To the Shareholders and
Board of Directors
The Santa Barbara Group of Mutual Funds, Inc.
In planning and performing our audit of the financial
statements of The Santa Barbara Group of Mutual Funds,
Inc, comprising PFW Water Fund and the Montecito Fund
(the Funds) as of and for the year ended March 31,
2011, in accordance with the standards of the Public
Company Accounting Oversight Board (United States),
we considered the Funds internal control over financial
reporting, including controls over safeguarding
securities, as a basis for designing our auditing
procedures for the purpose of expressing our opinion
on the financial statements and to comply with the
requirements of Form N-SAR, but not for the purpose
of expressing an opinion on the effectiveness of the
Funds internal control over financial reporting.
Accordingly, we express no such opinion.
The management of the Funds is responsible for
establishing and maintaining effective internal control
over financial reporting. In fulfilling this
responsibility, estimates and judgments by management
are required to assess the expected benefits and related
costs of controls. A funds internal control over
financial reporting is a process designed to provide
reasonable assurance regarding the reliability of
financial reporting and the preparation of financial
statements for external purposes in accordance with
accounting principles generally accepted in the
United States of America (GAAP). A funds internal
control over financial reporting includes those policies
and procedures that (1) pertain to the maintenance of
records that, in reasonable detail, accurately and
fairly reflect the transactions and dispositions of the
assets of the fund (2) provide reasonable assurance that
transactions are recorded as necessary to permit
preparation of financial statements in accordance with
GAAP, and that receipts and expenditures of the fund are
being made only in accordance with authorizations of
management and directors of the fund and (3) provide
reasonable assurance regarding prevention or timely
detection of unauthorized acquisition, use or disposition
of a funds assets that could have a material effect on
the financial statements.
Because of its inherent limitations, internal control over
financial reporting may not prevent or detect misstatements.
Also, projections of any evaluation of effectiveness to
future periods are subject to the risk that controls may
become inadequate because of changes in conditions, or
that the degree of compliance with the policies or
procedures may deteriorate.
A deficiency in internal control over financial reporting
exists when the design or operation of a control does not
allow management or employees, in the normal course of
performing their assigned functions, to prevent or detect
misstatements on a timely basis. A material weakness
is a deficiency, or a combination of deficiencies, in
internal control over financial reporting, such that
there is a reasonable possibility that a material
misstatement of the Funds annual or interim financial
statements will not be prevented or detected on a
timely basis.
Our consideration of the Funds internal control over
financial reporting was for the limited purpose
described in the first paragraph and would not
necessarily disclose all deficiencies in internal
control that might be material weaknesses under
standards established by the Public Company Accounting
Oversight Board (United States). However, we noted
no deficiencies in the Funds internal control
over financial reporting and its operation, including
controls over safeguarding securities, that we consider
to be a material weakness as defined above as of
March 31, 2011.
This report is intended solely for the information
and use of management and the Board of Directors of
the Funds and the Securities and Exchange Commission
and is not intended to be and should not be used by
anyone other than these specified parties.
COHEN FUND AUDIT SERVICES, LTD.
Westlake, Ohio
May 27, 2011