UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
FORM N-PX
ANNUAL REPORT OF PROXY VOTING RECORD OF REGISTERED MANAGEMENT INVESTMENT COMPANY
Investment Company Act file number 811-09523
Electric City Funds, Inc.
(Exact name of registrant as specified in charter)
1292 Gower Road
Glenville, NY 12302
(Address of principal executive offices)
(Zip code)
David Jones and Assoc., P.C.
395 Sawdust Road, #2148
The Woodlands, TX 77380
(Name and address of agent for service)
Registrant's telephone number, including area code: (518) 370-0289
Date of fiscal year end: August 31
Date of reporting period: June 30, 2004
Form N-PX is to be used by a registered management investment company, other than a small business investment company registered on Form N-5 (§§ 239.24 and 274.5 of this chapter), to file reports with the Commission, not later than August 31 of each year, containing the registrant’s proxy voting record for the most recent twelve-month period ended June 30, pursuant to section 30 of the Investment Company Act of 1940 and rule 30b1-4 thereunder (17 CFR 270.30b1-4). The Commission may use the information provided on Form N-PX in its regulatory, disclosure review, inspection, and policymaking notes.
A registrant is required to disclose the information specified by Form N-PX, and the Commission will make this information public. A registrant is not required to respond to the collection of information contained in Form N-PX unless the Form displays a currently valid Office of Management and Budget (“OMB”) control number. Please direct comments concerning the accuracy of the information collection burden estimate and any suggestions for reducing the burden to the Secretary, Securities and Exchange Commission, 450 Fifth Street, NW, Washington, DC 20549-0609. The OMB has reviewed this collection of information under the clearance requirements of 44 U.S.C. § 3507.
ITEM 1. PROXY VOTING RECORD:
Disclose the following information for each matter relating to a portfolio security considered at any shareholder meeting held during the period covered by the report and with respect to which the registrant was entitled to vote:
(a).
The name of the issuer of the portfolio security;
(b).
The exchange ticker symbol of the portfolio security;
(c).
The Council on Uniform Securities Identification Procedures ("CUSIP") number for the portfolio security;
(d).
The shareholder meeting date;
(e).
A brief identification of the matter voted on;
(f).
Whether the matter was proposed by the issuer or by a security holder;
(g).
Whether the Registrant cast its vote on the matter;
(h).
How the Registrant cast its vote (e.g., for or against proposal, or abstain; for or withhold regarding election of directors); and
(i).
Whether the Registrant cast its vote for or against management.
Electric City Value Fund |
BANK OF AMERICA |
Ticker Symbol:BAC | Cusip Number: 060505104 | |
Record Date: 1/26/2004 | Meeting Date: 3/17/2004 |
Proposal # | Proposal | Vote | Author | MRV* | vs. Mgmt |
1 | ADOPTION OF THE MERGER AGREEMENT | FOR | ISSUER | FOR | WITH |
2 | AMENDED STOCK PLAN | FOR | ISSUER | FOR | WITH |
3 | AMENDMENT TO INCREASE THE NUMBER OF AUTHORIZED SHARES | FOR | ISSUER | FOR | WITH |
4 | PROPOSAL TO ADJOURN SPECIAL MEETING, IF NECESSARY | FOR | ISSUER | FOR | WITH |
BANK OF AMERICA CORP |
Ticker Symbol:BAC | Cusip Number: 060505104 | |
Record Date: 1/26/2004 | Meeting Date: 3/17/2004 |
Proposal # | Proposal | Vote | Author | MRV* | vs. Mgmt |
1 | ADOPTION OF THE MERGER AGRREMENT | FOR | ISSUER | FOR | WITH |
2 | ADOPTION OF BANK OF AMERICAS AMENDED STOCK PLAN | FOR | ISSUER | FOR | WITH |
3 | ADOPTION OF AN AMENDMENT OT INCREASE THE NUMBER OF AUTHORIZED SHARES OF BANK OF AMERICA COMMON STOCK | FOR | ISSUER | FOR | WITH |
4 | APPROVAL OF PROPOSAL TO ADJOURN THE BANK OF AMERICA SPECIAL MEETING, IF NECESSARY, TO SOLICIT ADDITIONAL PROXIES | FOR | ISSUER | FOR | WITH |
COMMUNITY BANK SYSTEM |
Ticker Symbol:CBU | Cusip Number: 203607106 | |
Record Date: 2/12/2004 | Meeting Date: 3/26/2004 |
Proposal # | Proposal | Vote | Author | MRV* | vs. Mgmt |
1 | AMMENDMENT TO INCREASE SHARES OF AUTHORIZED COMMON STOCK | FOR | ISSUER | FOR | WITH |
COMMUNITY BANK SYSTEM, INC |
Ticker Symbol:CBU | Cusip Number: 203607106 | |
Record Date: 2/12/2004 | Meeting Date: 3/26/2004 |
Proposal # | Proposal | Vote | Author | MRV* | vs. Mgmt |
1 | AMMENDMENT TO INCREASE SHARES OF AUTHORIZED COMMON STOCK | FOR | ISSUER | FOR | WITH |
EDGAR ONLINE, INC |
Ticker Symbol:EDGR | Cusip Number: 279765101 | |
Record Date: 6/23/2003 | Meeting Date: 7/30/2003 |
Proposal # | Proposal | Vote | Author | MRV* | vs. Mgmt |
1 | ELECTION OF NOMINEES 1-7 | FOR | ISSUER | FOR | WITH |
2 | KPMG LLP AS INDEPENDENT PUBLIC ACCOUNTANTS | FOR | ISSUER | FOR | WITH |
3 | ACT UPON ALL MATTERS INCIDENT TO CONDUCT OF MEETNG | FOR | ISSUER | FOR | WITH |
LANDEC CORPORATION |
Ticker Symbol:LNDC | Cusip Number: 514766104 | |
Record Date: 8/19/2003 | Meeting Date: 10/16/2003 |
Proposal # | Proposal | Vote | Author | MRV* | vs. Mgmt |
1 | DIRECTORS | FOR | ISSUER | FOR | WITH |
2 | THE AMDENDMENT OF HTE BYLAWS OF THE CO TO CHANGE T | FOR | ISSUER | FOR | WITH |
3 | 1995 DIRECTORS STOCK OPETION PLAN | AGAINST | ISSUER | AGAINST | WITH |
4 | RATIFY THE APPOINTMENT OF ERNST & YOUNG LLP AS IND | FOR | ISSUER | FOR | WITH |
MERCK & COMPANY |
Ticker Symbol:MRK | Cusip Number: 589331107 | |
Record Date: 2/24/2004 | Meeting Date: 4/27/2004 |
Proposal # | Proposal | Vote | Author | MRV* | vs. Mgmt |
1 | ELECTION OF NOMINEES: PC WENDELL; WG BOWEN; | FOR | ISSUER | FOR | WITH |
MICROSOFT CORPORATION |
Ticker Symbol:MSFT | Cusip Number: 594918104 | |
Record Date: 9/12/2003 | Meeting Date: 11/11/2003 |
Proposal # | Proposal | Vote | Author | MRV* | vs. Mgmt |
1 | ELECT NOMINEES 1-10 | FOR | ISSUER | FOR | WITH |
2 | AMENDMENTS TO THE 2001 STOCK PLAN | FOR | ISSUER | FOR | WITH |
3 | AMENDMENTS-1999 STOCK OPT PLAN - NON-EMP DIRECTOR | FOR | ISSUER | FOR | WITH |
4 | SHAREHOLDER PROPOSAL | AGAINST | STOCKHOLDER | AGAINST | WITH |
MICROSOFT CORPORATION |
Ticker Symbol:MSFT | Cusip Number: 594918104 | |
Record Date: 9/12/2003 | Meeting Date: 11/11/2003 |
Proposal # | Proposal | Vote | Author | MRV* | vs. Mgmt |
1 | VOTE FOR ELECTION OF NOMINEES 1-10 | FOR | ISSUER | FOR | WITH |
2 | AMENDMENTS TO THE 2001 STOCK PLAN | FOR | ISSUER | FOR | WITH |
3 | AMENDMENTS TO THE 1999 STOCK OPTION PLAN FOR NON-EMPLOYEE DIRECTORS | FOR | ISSUER | FOR | WITH |
4 | SHAREHOLDER PROPOSAL | AGAINST | STOCKHOLDER | AGAINST | WITH |
MICROSOFT CORPORATION |
Ticker Symbol:MSFT | Cusip Number: 594918104 | |
Record Date: 9/12/2003 | Meeting Date: 11/11/2003 |
Proposal # | Proposal | Vote | Author | MRV* | vs. Mgmt |
1 | DIRECTORS | FOR | ISSUER | FOR | WITH |
2 | ADOPTION OF THE AMENDMENTS TO THE 2001 STOCK PLAN | FOR | ISSUER | FOR | WITH |
3 | ADOPTION OF THE AMENDMENTS TO THE 1999 STOCK OPTION PLAN FOR NON-EMPLOYEE DIRECTORS | FOR | ISSUER | FOR | WITH |
4 | SHAREHOLDER PROPOSAL | AGAINST | STOCKHOLDER | AGAINST | WITH |
NATIONAL GRID TRANSCO PLC |
Ticker Symbol:NGG | Cusip Number: 636274102 | |
Record Date: 5/28/2003 | Meeting Date: 7/21/2003 |
Proposal # | Proposal | Vote | Author | MRV* | vs. Mgmt |
1 | RECIEVE THE REPORT AND ACCOUNTS YR END 3/31/2003 | FOR | ISSUER | FOR | WITH |
2 | DECLARE A FINAL DIVIDEND OF 10.34 PENCE/ORD SHARE | FOR | ISSUER | FOR | WITH |
3 | REAPPOINT NICK WINSER | FOR | ISSUER | FOR | WITH |
4 | REAPPOINT SIR JOHN PARKER | FOR | ISSUER | FOR | WITH |
5 | REAPPOINT STEVE LUCAS | FOR | ISSUER | FOR | WITH |
6 | REAPPOINT JOHN WYBREW | FOR | ISSUER | FOR | WITH |
7 | REAPPOINT KENNETH HARVEY | FOR | ISSUER | FOR | WITH |
8 | REAPPOINT STEPHEN PETTIT | FOR | ISSUER | FOR | WITH |
9 | REAPPOINT GEORGE ROSE | FOR | ISSUER | FOR | WITH |
10 | REAPPOINT STEVE HOLLIDAY | FOR | ISSUER | FOR | WITH |
11 | PRICEWHATERHOUSECOOPERS LLP AS AUDITORS | FOR | ISSUER | FOR | WITH |
12 | DIRECTORS RENUMERATION REPORT FOR YR END 3/31/2003 | FOR | ISSUER | FOR | WITH |
13 | AUTHORIZE COMPANY TO PURCHASE ITS ORD SHARES | FOR | ISSUER | FOR | WITH |
THE WALT DISNEY COMPANY |
Ticker Symbol:DIS | Cusip Number: 254687106 | |
Record Date: 1/16/2004 | Meeting Date: 3/3/2004 |
Proposal # | Proposal | Vote | Author | MRV* | vs. Mgmt |
1 | DIRECTORS RECOMMEND A VOTE FOR ELECTION | FOR | ISSUER | FOR | WITH |
2 | TO RATIFY THE APPOINTMENT OF PRICEWATERHOUSECOOPERS LLP AS THE COMPANYS INDEPENDENT AUDITORS FOR 2003 | FOR | ISSUER | FOR | WITH |
3 | TO APPROVE THE HARRINGTON INVESTMENT SHAREHOLDER PROPOSAL RELATING TO LABOR STANDARDS FOR CHINA | AGAINST | ISSUER | AGAINST | WITH |
4 | TO APPROVE THE NEW YORK CITY RETIREMENT SYSTEMS AND PENSION FUNDS PROPOSAL RELATING TO LABOR STANDARDS IN CHINA | AGAINST | ISSUER | AGAINST | WITH |
5 | TO APPROVE THE SHAREHOLDER PROPOSAL RELATING TO THEME PARK SAFETY REPORTING | AGAINST | ISSUER | AGAINST | WITH |
TYCO INTERNATIONAL LTD |
Ticker Symbol:TYC | Cusip Number: 902124106 | |
Record Date: 1/14/2004 | Meeting Date: 3/25/2004 |
Proposal # | Proposal | Vote | Author | MRV* | vs. Mgmt |
1 | VOTE FOR ELECTION OF NOMINEES 01-11 | FOR | ISSUER | FOR | WITH |
2 | DELOITTE & TOUCHE LLP AS AUDITORS AND RENUMERATION | FOR | ISSUER | FOR | WITH |
3 | ADOPTION OF THE AMENDED AND RESTATED BYE-LAWS | FOR | ISSUER | FOR | WITH |
4 | TYCO 2004 STOCK AND INCENTIVE PLAN | AGAINST | ISSUER | AGAINST | WITH |
5 | REGARDING ENVIRONMENTAL REPORTING | FOR | STOCKHOLDER | FOR | WITH |
6 | CHANGE JURISDICTION FROM BURMUDA TO A US STATE | AGAINST | STOCKHOLDER | AGAINST | WITH |
7 | AGAINST | STOCKHOLDER | AGAINST | WITH |
VALUE LINE, INC |
Ticker Symbol:VALU | Cusip Number: 920437100 | |
Record Date: 9/12/2003 | Meeting Date: 10/9/2003 |
Proposal # | Proposal | Vote | Author | MRV* | vs. Mgmt |
1 | ELECTION OF NOMINEES 1-8 | FOR | ISSUER | FOR | WITH |
WALT DISNEY |
Ticker Symbol:DIS | Cusip Number: 254687106 | |
Record Date: 1/16/2004 | Meeting Date: 3/3/2004 |
Proposal # | Proposal | Vote | Author | MRV* | vs. Mgmt |
1 | A VOTE FOR ELECTION OF NOMINEES 01-11 | FOR | ISSUER | FOR | WITH |
2 | APPOINTMENT OF PRICEWATERHOUSECOOPERS LLP AS COMPANY'S INDEPENDENT AUDITORS FOR 2004 | FOR | ISSUER | FOR | WITH |
3 | HARRINGTON INVESTMENTS SHAREHOLDER PROPOSAL RELATING TO LABOR STANDARDS FOR CHINA | AGAINST | STOCKHOLDER | AGAINST | WITH |
4 | NY CITY RETIREMENT SYSTEMS AND PENSION FUNDS PROPOSAL RELATING TO LABOR STANDARDS IN CHINA | AGAINST | STOCKHOLDER | AGAINST | WITH |
5 | THEME PARK SAFETY REPORTING | AGAINST | STOCKHOLDER | AGAINST | WITH |
Electric City Dividend Growth Fund |
BANK OF AMERICA |
Ticker Symbol:BAC | Cusip Number: 060505104 | |
Record Date: 1/26/2004 | Meeting Date: 3/17/2004 |
Proposal # | Proposal | Vote | Author | MRV* | vs. Mgmt |
1 | ADOPTION OF MERGER AGREEMENT | FOR | ISSUER | FOR | WITH |
2 | BAC'S AMENDED STOCK PLAN | FOR | ISSUER | FOR | WITH |
3 | AMENDMENT TO INCREASE NUMBER OF AUTHORIZED SHARES OF BAC COMMON STOCK | FOR | ISSUER | FOR | WITH |
4 | ADJOURN THE BAC SPECIAL MEETING IF NECESSARY TO SOLICIT ADDITIONAL PROXIES | FOR | ISSUER | FOR | WITH |
BANKNORTH GROUP |
Ticker Symbol:BNK | Cusip Number: 06646R107 | |
Record Date: 3/11/2002 | Meeting Date: 4/23/2004 |
Proposal # | Proposal | Vote | Author | MRV* | vs. Mgmt |
1 | DIRECTORS RECOMMEND A VOTE FOR ELECTION OF THE FOLLOWING NOMINEES | FOR | ISSUER | FOR | WITH |
2 | TO APPROVE THE COMPANYS EXECUTIVE INCENTIVE PLAN | FOR | ISSUER | FOR | WITH |
3 | TO APPROVE THE COMANYS AMENDED ADN RESTATED EMPLOYEE STOCK PURCHASE PLAN | FOR | ISSUER | FOR | WITH |
4 | TO RATIFY THE APPOINTMENT OF KPMG LLP AS THE COMPANYS INDEPENDENT AUDITORS FOR THE YEAR ENDING 12/31/02 | FOR | ISSUER | FOR | WITH |
COMMUNITY BANK SYSTEM, INC |
Ticker Symbol:CBU | Cusip Number: 203607106 | |
Record Date: 2/12/2004 | Meeting Date: 3/26/2004 |
Proposal # | Proposal | Vote | Author | MRV* | vs. Mgmt |
1 | AMMENDMENT TO INCREASE SHARES OF AUTHORIZED COMMON STOCKS | FOR | ISSUER | FOR | WITH |
EDGAR ONLINE |
Ticker Symbol:EDGR | Cusip Number: 279765101 | |
Record Date: 6/26/2003 | Meeting Date: 7/30/2003 |
Proposal # | Proposal | Vote | Author | MRV* | vs. Mgmt |
1 | DIRECTORS | FOR | ISSUER | FOR | WITH |
2 | RATIFY APPOINTMENT OF KPMG LLP AS INDEPENDENT PUBL | FOR | ISSUER | FOR | WITH |
3 | TO ACT UPON ALL MATTERS INCIDENT TO THE CONDUCT OF | FOR | ISSUER | FOR | WITH |
GENERAL ELECTRIC COMPANY |
Ticker Symbol:GE | Cusip Number: 369604103 | |
Record Date: 3/1/2004 | Meeting Date: 4/28/2004 |
Proposal # | Proposal | Vote | Author | MRV* | vs. Mgmt |
1 | ELECTION OF DIRECTORS | FOR | ISSUER | FOR | WITH |
2 | RATIFY AUDITOR | FOR | ISSUER | FOR | WITH |
3 | REVENUE MEASUREMENT ADDED TO EXEC OFFICER GOALS | FOR | ISSUER | FOR | WITH |
4 | CUMULATIVE VOTING | AGAINST | STOCKHOLDER | AGAINST | WITH |
5 | ANIMAL TESTING | FOR | STOCKHOLDER | FOR | WITH |
6 | NUCLEAR RISK | OBSTAINED | STOCKHOLDER | WITH |
7 | REPORT ON PCB CLEANUP COSTS | FOR | STOCKHOLDER | FOR | WITH |
8 | OFFSHORE SOURCING | AGAINST | STOCKHOLDER | AGAINST | WITH |
9 | SUSTAINABILITY INDEX | AGAINST | STOCKHOLDER | AGAINST | WITH |
10 | COMPENSATION COMMITTEE INDEPENDENCE | FOR | STOCKHOLDER | FOR | WITH |
11 | PAY DISPARITY | FOR | STOCKHOLDER | FOR | WITH |
12 | END STOCK OPTIONS AND BONUSES | OBSTAINED | STOCKHOLDER | WITH |
13 | LIMIT OUTSIDE DIRECTORSHIPS | AGAINST | STOCKHOLDER | AGAINST | WITH |
14 | INDEPENDENT BOARD CHAIRMAN | OBSTAINED | STOCKHOLDER | WITH |
15 | EXPLORE SALE OF COMPANY | AGAINST | STOCKHOLDER | AGAINST | WITH |
16 | HOLDING STOCK FROM STOCK OPTIONS | AGAINST | STOCKHOLDER | AGAINST | WITH |
17 | BOARD INDEPENDENCE | FOR | STOCKHOLDER | FOR | WITH |
18 | POLITICAL CONTRIBUTIONS | FOR | STOCKHOLDER | FOR | WITH |
GENUINE PARTS COMPANY |
Ticker Symbol:GPC | Cusip Number: 372460105 | |
Record Date: 2/12/2004 | Meeting Date: 4/19/2004 |
Proposal # | Proposal | Vote | Author | MRV* | vs. Mgmt |
1 | DIREC. RECOMMEND: A VOTE FOR ELECTION OF THE FOLLOWING NOMINEES: | FOR | ISSUER | FOR | WITH |
2 | APPROVAL OF GPC 2004 ANNUAL INCENTIVE BONUS PLAN | FOR | ISSUER | FOR | WITH |
3 | RATIFICAION OF THE SELECTION OF ERNST & YOUNG LLP AS THE CO. INDEPENDENT AUDITORS FOR FISCAL YEAR ENDING 12-31-04 | FOR | ISSUER | FOR | WITH |
4 | SHAREHOLDER PROPOSAL REGARDING POISON PILL | AGAINST | ISSUER | AGAINST | WITH |
5 | SHAREHOLDER PROPOSAL REGARDING RESTRICTED SHARE PROGRAMS IN LIEU OF STOCK OPTIONS IN EXECUTIVE COMP. | AGAINST | ISSUER | AGAINST | WITH |
MERCK & COMPANY |
Ticker Symbol:MRK | Cusip Number: 589331107 | |
Record Date: 2/24/2004 | Meeting Date: 4/27/2004 |
Proposal # | Proposal | Vote | Author | MRV* | vs. Mgmt |
1 | ELECTION OF NOMINEES: PC WENDELL; WG BOWEN; | FOR | ISSUER | FOR | WITH |
PIEDMONT NATURAL GAS COMPANY |
Ticker Symbol:PNY | Cusip Number: 720186105 | |
Record Date: 1/9/2004 | Meeting Date: 2/27/2004 |
Proposal # | Proposal | Vote | Author | MRV* | vs. Mgmt |
1 | VOTE FOR ELECTION OF NOMINEES 1-5 | FOR | ISSUER | FOR | WITH |
2 | DELOITTE & TOUCHE LLP AS INDEPENDENT AUDITORS | FOR | ISSUER | FOR | WITH |
3 | EXECUTIVE LONG-TERM INCENTIVE PLAN | AGAINST | ISSUER | AGAINST | WITH |
RAYMOND JAMES FINANCIAL INC |
Ticker Symbol:RJF | Cusip Number: 754730109 | |
Record Date: 12/15/2003 | Meeting Date: 2/12/2004 |
Proposal # | Proposal | Vote | Author | MRV* | vs. Mgmt |
1 | VOTE FOR ELECTION OF NOMINEES 1-10 | FOR | ISSUER | FOR | WITH |
2 | INCENTIVE COMPENSATION CRITERIA FOR EXEC OFFICERS | FOR | ISSUER | FOR | WITH |
3 | KPMG LLP AS INDEPENDENT AUDITORS | FOR | ISSUER | FOR | WITH |
T. ROWE PRICE GROUP |
Ticker Symbol:TROW | Cusip Number: 74144T108 | |
Record Date: 2/6/2004 | Meeting Date: 4/8/2004 |
Proposal # | Proposal | Vote | Author | MRV* | vs. Mgmt |
1 | DIRECTORS RECOMMEND: A VOTE FOR ELECTION OF THE FOLLOWING NOMINEES | FOR | ISSUER | FOR | WITH |
2 | RATIFICATION OF APPOINTMENT OF KPMG LLP AS THE COMPANYS INDEPENDENT ACCOUNTANT FOR FISCAL YEAR 2004 | FOR | ISSUER | FOR | WITH |
3 | APPROVAL OF PROPOSED 2004 STOCK INCENTIVE PLAN AND COROLLARY AMENDMETN OF 2001 STOCK INCENTIVE PLAN | AGAINST | ISSUER | FOR | AGAINST |
4 | IN THEIR DISCRETION, PROXIES ARE AUTHORIZED TO VOTE UPON SUCH OTHER BUS. & FURTHER BUS. AS MAY PROPERLY COME BEFORE MEETING OR ANY ADJOURMENTS & POSTPONEMENTS THEREOF | FOR | ISSUER | FOR | WITH |
* Management Recommended Vote
SIGNATURES
Pursuant to the requirements of 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.
Electric City Funds, Inc.
By /s/James W. Denney
* James W. Denney
President and Treasurer
Date: August 31, 2004
*Print the name and title of each signing officer under his or her signature.