UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM N-CSR
CERTIFIED SHAREHOLDER REPORT OF REGISTERED MANAGEMENT
INVESTMENT COMPANIES
Investment Company Act file number 811-2454
OPPENHEIMER MONEY MARKET FUND, INC.
(Exact name of registrant as specified in charter)
6803 SOUTH TUCSON WAY, CENTENNIAL, COLORADO 80112-3924
(Address of principal executive offices) (Zip code)
ROBERT G. ZACK, ESQ.
OPPENHEIMERFUNDS, INC.
TWO WORLD FINANCIAL CENTER, NEW YORK, NEW YORK 10281-1008
(Name and address of agent for service)
Registrant's telephone number, including area code: (303) 768-3200
Date of fiscal year end: JULY
Date of reporting period: 07/31/2006
ITEM 1. REPORTS TO STOCKHOLDERS.
NOTES
- --------------------------------------------------------------------------------
AN INVESTMENT IN THE FUND IS NOT INSURED OR GUARANTEED BY THE FEDERAL DEPOSIT
INSURANCE CORPORATION OR ANY OTHER GOVERNMENT AGENCY. ALTHOUGH THE FUND SEEKS TO
PRESERVE THE VALUE OF YOUR INVESTMENT AT $1.00 PER SHARE, IT IS POSSIBLE TO LOSE
MONEY BY INVESTING IN THE FUND.
THE FUND'S INVESTMENT STRATEGY, ALLOCATIONS, AND FOCUS CAN CHANGE OVER TIME. THE
MENTION OF SPECIFIC FUND HOLDINGS DOES NOT CONSTITUTE A RECOMMENDATION BY
OPPENHEIMERFUNDS, INC.
INVESTORS SHOULD CONSIDER THE FUND'S INVESTMENT OBJECTIVES, RISKS, AND CHARGES
AND EXPENSES CAREFULLY BEFORE INVESTING. THE FUND'S PROSPECTUS CONTAINS THIS AND
OTHER INFORMATION ABOUT THE FUND, AND MAY BE OBTAINED BY ASKING YOUR FINANCIAL
ADVISOR, CALLING US AT 1.800.525.7048 OR VISITING OUR WEBSITE AT
WWW.OPPENHEIMERFUNDS.COM. READ THE PROSPECTUS CAREFULLY BEFORE INVESTING.
8 | OPPENHEIMER MONEY MARKET FUND, INC.
FUND EXPENSES
- --------------------------------------------------------------------------------
FUND EXPENSES. As a shareholder of the Fund, you incur two types of costs: (1)
transaction costs, which may include contingent deferred sales charges on
redemptions, if any; and (2) ongoing costs, including management fees and other
Fund expenses. These examples are intended to help you understand your ongoing
costs (in dollars) of investing in the Fund and to compare these costs with the
ongoing costs of investing in other mutual funds.
The examples are based on an investment of $1,000.00 invested at the beginning
of the period and held for the entire 6-month period ended July 31, 2006.
ACTUAL EXPENSES. The "actual" lines of the table provide information about
actual account values and actual expenses. You may use the information on this
line for the class of shares you hold, together with the amount you invested, to
estimate the expense that you paid over the period. Simply divide your account
value by $1,000.00 (for example, an $8,600.00 account value divided by $1,000.00
= 8.60), then multiply the result by the number in the "actual" line under the
heading entitled "Expenses Paid During Period" to estimate the expenses you paid
on your account during this period.
HYPOTHETICAL EXAMPLE FOR COMPARISON PURPOSES. The "hypothetical" lines of the
table provide information about hypothetical account values and hypothetical
expenses based on the Fund's actual expense ratio for each class of shares, and
an assumed rate of return of 5% per year before expenses, which is not the
Fund's actual return. The hypothetical account values and expenses may not be
used to estimate the actual ending account balance or expenses you paid for the
period. You may use this information to compare the ongoing costs of investing
in the Fund and other funds. To do so, compare this 5% hypothetical example for
the class of shares you hold with the 5% hypothetical examples that appear in
the shareholder reports of the other funds.
Please note that the expenses shown in the table are meant to highlight your
ongoing costs only and do not reflect any transactional costs, such as front-end
or contingent deferred sales charges (loads), or a $12.00 fee imposed annually
on accounts valued at less than $500.00 (subject to exceptions described in the
Statement of Additional Information). Therefore, the "hypo-
9 | OPPENHEIMER MONEY MARKET FUND, INC.
FUND EXPENSES
- --------------------------------------------------------------------------------
thetical" lines of the table are useful in comparing ongoing costs only, and
will not help you determine the relative total costs of owning different funds.
In addition, if these transactional costs were included, your costs would have
been higher.
- --------------------------------------------------------------------------------
BEGINNING ENDING EXPENSES
ACCOUNT ACCOUNT PAID DURING
VALUE VALUE 6 MONTHS ENDED
(2/1/06) (7/31/06) JULY 31, 2006
- --------------------------------------------------------------------------------
Class A Actual $1,000.00 $1,021.60 $3.13
- --------------------------------------------------------------------------------
Class A Hypothetical 1,000.00 1,021.70 3.13
- --------------------------------------------------------------------------------
Class Y Actual 1,000.00 1,022.70 2.12
- --------------------------------------------------------------------------------
Class Y Hypothetical 1,000.00 1,022.70 2.12
Hypothetical assumes 5% annual return before expenses.
Expenses are equal to the Fund's annualized expense ratio for that class,
multiplied by the average account value over the period, multiplied by 181/365
(to reflect the one-half year period). Those annualized expense ratios based on
the 6-month period ended July 31, 2006 are as follows:
CLASS EXPENSE RATIOS
- ----------------------------
Class A 0.62%
- ----------------------------
Class Y 0.42
The expense ratios reflect voluntary waivers or reimbursements of expenses by
the Fund's Transfer Agent that can be terminated at any time, without advance
notice. The "Financial Highlights" tables in the Fund's financial statements,
included in this report, also show the gross expense ratios, without such
waivers or reimbursements.
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10 | OPPENHEIMER MONEY MARKET FUND, INC.
STATEMENT OF INVESTMENTS July 31, 2006
- --------------------------------------------------------------------------------
PRINCIPAL VALUE
AMOUNT SEE NOTE 1
- --------------------------------------------------------------------------------
CERTIFICATES OF DEPOSIT--22.2%
- --------------------------------------------------------------------------------
DOMESTIC CERTIFICATES OF DEPOSIT--5.1%
Citibank NA:
5.275%, 9/11/06 $ 30,000,000 $ 30,000,000
5.415%, 9/22/06 25,000,000 25,000,000
5.435%, 9/25/06 7,000,000 7,000,000
- --------------------------------------------------------------------------------
Washington Mutual
Bank FA, 5.47%,
10/18/06 20,000,000 20,000,000
- --------------------------------------------------------------------------------
Wells Fargo Bank
NA:
5.20%, 8/9/06 30,000,000 30,000,000
5.34%, 8/16/06 20,000,000 20,000,000
----------------
132,000,000
- --------------------------------------------------------------------------------
YANKEE CERTIFICATES OF DEPOSIT--17.1%
Abbey National
Treasury Services:
5.245%, 8/14/06 25,000,000 25,000,000
5.30%, 8/11/06 14,000,000 14,000,000
- --------------------------------------------------------------------------------
Bank of Montreal,
Chicago, 5.38%,
9/5/06 9,400,000 9,400,000
- --------------------------------------------------------------------------------
Barclays Bank plc,
New York:
5.44%, 9/25/06 19,000,000 19,000,000
5.455%, 10/16/06 21,500,000 21,500,000
- --------------------------------------------------------------------------------
BNP Paribas, New
York:
5.295%, 7/2/07 1 20,000,000 19,995,314
5.49%, 10/19/06 20,000,000 20,000,000
- --------------------------------------------------------------------------------
Calyon, New York,
5.29%, 7/2/07 1 35,000,000 34,986,739
- --------------------------------------------------------------------------------
Canadian Imperial
Bank of Commerce
NY:
5.215%, 8/14/06 30,000,000 30,000,000
5.25%, 8/14/06 20,000,000 20,000,000
5.36%, 8/28/06 19,000,000 19,000,000
- --------------------------------------------------------------------------------
Lloyds TSB Bank plc,
New York, 5.355%,
9/14/06 20,000,000 20,000,000
PRINCIPAL VALUE
AMOUNT SEE NOTE 1
- --------------------------------------------------------------------------------
YANKEE CERTIFICATES OF DEPOSIT Continued
Royal Bank of
Canada,
New York:
5.19%, 8/9/06 $ 15,000,000 $ 15,000,000
5.355%, 8/29/06 20,000,000 20,000,000
- --------------------------------------------------------------------------------
Skandinaviska
Enskilda Banken,
New York,
5.296%, 10/3/06 1 29,000,000 28,999,004
- --------------------------------------------------------------------------------
Societe Generale,
New York, 5.175%,
8/9/06 20,000,000 20,000,000
- --------------------------------------------------------------------------------
Toronto Dominion
Bank, New York:
5.175%, 8/7/06 20,000,000 20,000,000
5.335%, 9/15/06 11,500,000 11,500,000
- --------------------------------------------------------------------------------
UBS AG, Stamford
CT:
5.325%, 8/18/06 30,000,000 30,000,000
5.34%, 8/21/06 35,000,000 35,000,000
- --------------------------------------------------------------------------------
Westpac Banking
Corp., New York,
5.09%, 8/4/06 12,300,000 12,299,908
----------------
445,680,965
----------------
Total Certificates
of Deposit (Cost $577,680,965) 577,680,965
- --------------------------------------------------------------------------------
DIRECT BANK OBLIGATIONS--16.3%
- --------------------------------------------------------------------------------
AB SPINTAB:
5.335%, 9/19/06 20,000,000 19,854,769
5.34%, 9/5/06 19,000,000 18,901,358
5.37%, 10/18/06 9,800,000 9,685,977
- --------------------------------------------------------------------------------
Bank of America NA:
5.30%, 9/11/06 25,000,000 25,000,000
5.37%, 9/14/06 5,000,000 5,000,000
5.415%, 9/15/06 15,000,000 15,000,000
- --------------------------------------------------------------------------------
Barclays US Funding
Corp., 5.09%, 8/7/06 15,000,000 14,987,275
- --------------------------------------------------------------------------------
BNP Paribas Finance,
Inc., 5.13%, 8/7/06 10,000,000 9,991,450
- --------------------------------------------------------------------------------
Danske Corp.:
5.10%, 8/8/06 2 23,000,000 22,977,192
5.39%, 9/25/06 2 14,000,000 13,884,714
11 | OPPENHEIMER MONEY MARKET FUND, INC.
STATEMENT OF INVESTMENTS Continued
- --------------------------------------------------------------------------------
PRINCIPAL VALUE
AMOUNT SEE NOTE 1
- --------------------------------------------------------------------------------
DIRECT BANK OBLIGATIONS Continued
- --------------------------------------------------------------------------------
DnB NOR Bank ASA,
5.26%, 8/8/06 $ 4,700,000 $ 4,695,193
- --------------------------------------------------------------------------------
Governor & Co. of
the Bank of Ireland,
5.14%, 11/22/06 2 15,000,000 14,757,992
- --------------------------------------------------------------------------------
HBOS Treasury
Services:
5.295%, 9/19/06 30,000,000 29,783,788
5.385%, 9/26/06 20,200,000 20,030,791
5.39%, 9/28/06 20,000,000 19,826,322
- --------------------------------------------------------------------------------
ICICI Bank Ltd.,
5.16%, 11/22/06 10,000,000 9,838,033
- --------------------------------------------------------------------------------
Nationwide Building
Society, 5.315%,
9/20/06 2 25,000,000 24,815,451
- --------------------------------------------------------------------------------
Nordea North
America, Inc., 5.165%,
8/14/06 20,000,000 19,962,697
- --------------------------------------------------------------------------------
Royal Bank of
Canada,
5.33%, 8/28/06 2,000,000 1,992,005
- --------------------------------------------------------------------------------
Santander Central
Hispano Finance
(Delaware), Inc.,
5.17%, 8/15/06 19,700,000 19,660,392
- --------------------------------------------------------------------------------
Skandinaviska
Enskilda Banken AB,
5.37%, 11/27/06 1,2 10,000,000 10,000,000
- --------------------------------------------------------------------------------
Societe Generale
North America,
5.335%, 9/1/06 20,000,000 19,908,119
- --------------------------------------------------------------------------------
St. George Bank Ltd.,
5.40%, 9/8/06 2 6,000,000 5,965,800
- --------------------------------------------------------------------------------
Stadshypotek
Delaware, Inc., 5.31%,
8/8/06 2 4,500,000 4,495,406
- --------------------------------------------------------------------------------
Svenska
Handelsbanken, Inc.,
Series S, 5.34%,
8/31/06 20,000,000 19,911,000
- --------------------------------------------------------------------------------
UBS Finance
(Delaware) LLC,
5.325%, 8/24/06 20,000,000 19,931,958
PRINCIPAL VALUE
AMOUNT SEE NOTE 1
- --------------------------------------------------------------------------------
DIRECT BANK OBLIGATIONS Continued
- --------------------------------------------------------------------------------
Westpac Banking
Corp., 5.13%,
11/27/06 2 $ 25,000,000 $ 24,579,625
----------------
Total Direct Bank
Obligations (Cost $425,437,307) 425,437,307
- --------------------------------------------------------------------------------
LETTERS OF CREDIT--0.6%
- --------------------------------------------------------------------------------
Suntrust Bank,
guaranteeing
commercial paper
of NATC California
LLC, 5.42%, 10/13/06
(Cost $14,835,142) 15,000,000 14,835,142
- --------------------------------------------------------------------------------
SHORT-TERM NOTES--57.6%
- --------------------------------------------------------------------------------
ASSET-BACKED SECURITIES--22.6%
Barton Capital Corp.,
5.16%, 8/3/06 2 25,000,000 24,992,833
- --------------------------------------------------------------------------------
Cancara Asset
Securitization LLC,
5.29%, 8/11/06 2 32,700,000 32,651,949
- --------------------------------------------------------------------------------
Concord Minutemen
Capital Co. LLC:
5.30%, 8/15/06 2 14,000,000 13,971,090
5.405%, 10/17/06 2 25,000,000 24,710,983
- --------------------------------------------------------------------------------
Crown Point Capital
Co., 5.38%, 9/12/06 2 13,110,000 13,027,713
- --------------------------------------------------------------------------------
Fairway Finance Corp.,
5.335%, 9/18/06 2 4,725,000 4,691,390
- --------------------------------------------------------------------------------
FCAR Owner Trust I:
5.33%, 9/15/06 15,000,000 14,900,063
5.34%, 8/18/06 25,000,000 24,936,958
5.40%, 10/25/06 10,000,000 9,872,500
- --------------------------------------------------------------------------------
FCAR Owner Trust II,
5.16%, 8/4/06 20,000,000 19,991,450
- --------------------------------------------------------------------------------
Gemini Securitization
Corp.:
5.30%, 8/16/06 2 20,000,000 19,955,833
5.36%, 9/7/06 2 17,000,000 16,906,349
5.40%, 10/16/06 2 35,000,000 34,601,000
- --------------------------------------------------------------------------------
GOVCO, Inc.:
5.33%, 8/17/06 2 25,000,000 24,940,778
5.395%, 10/18/06 2 22,000,000 21,742,838
12 | OPPENHEIMER MONEY MARKET FUND, INC.
PRINCIPAL VALUE
AMOUNT SEE NOTE 1
- --------------------------------------------------------------------------------
ASSET-BACKED SECURITIES Continued
Grampian Funding
LLC, 5.15%, 11/21/06 $ 17,000,000 $ 16,727,622
- --------------------------------------------------------------------------------
Legacy Capital Co.
LLC:
5.30%, 8/16/06 17,000,000 16,962,458
5.315%, 9/15/06 9,000,000 8,940,206
- --------------------------------------------------------------------------------
Lexington Parker
Capital Co. LLC,
5.41%, 10/18/06 2 20,000,000 19,765,567
- --------------------------------------------------------------------------------
Neptune Funding
Corp.:
5.36%, 8/23/06 2 10,000,000 9,967,244
5.385%, 9/20/06 2 23,000,000 22,827,979
5.40%, 10/23/06 2 25,000,000 24,688,750
- --------------------------------------------------------------------------------
Ormond Quay
Funding LLC:
5.35%, 8/18/06 2 13,000,000 12,967,157
5.36%, 8/23/06 2 15,000,000 14,950,867
- --------------------------------------------------------------------------------
Perry Global Funding
LLC, Series A:
5.155%, 8/10/06 2 50,000,000 49,935,563
5.36%, 9/7/06 2 25,000,000 24,862,278
- --------------------------------------------------------------------------------
Solitaire Funding LLC,
5.345%, 9/20/06 2 26,395,000 26,199,281
- --------------------------------------------------------------------------------
Victory Receivables
Corp.:
5.30%, 8/10/06 2 23,500,000 23,468,863
5.40%, 10/24/06 2 15,000,000 14,811,000
----------------
588,968,562
- --------------------------------------------------------------------------------
BEVERAGES--0.3%
Beverage South LLC,
Series 2004, 5.40%,
8/1/06 1 6,900,000 6,900,000
- --------------------------------------------------------------------------------
CAPITAL MARKETS--7.6%
Banc of America
Securities LLC, 5.33%,
8/1/06 1 50,000,000 50,000,000
- --------------------------------------------------------------------------------
Bear Stearns Cos., Inc.:
5.35%, 9/21/06 25,500,000 25,307,015
5.37%, 9/28/06 20,000,000 19,826,967
5.39%, 9/27/06 29,000,000 28,752,509
- --------------------------------------------------------------------------------
Goldman Sachs
Group, Inc.:
5.384%, 4/6/07 1,3 15,000,000 15,000,000
5.45%, 10/30/06 1,3 35,000,000 35,000,000
PRINCIPAL VALUE
AMOUNT SEE NOTE 1
- --------------------------------------------------------------------------------
CAPITAL MARKETS Continued
Lehman Brothers, Inc.,
5.50%, 8/1/06 1 $ 4,000,000 $ 4,000,000
- --------------------------------------------------------------------------------
Morgan Stanley,
5.28%, 8/10/06 20,000,000 19,973,600
----------------
197,860,091
- --------------------------------------------------------------------------------
CHEMICALS--0.5%
BASF AG, 5.32%,
8/23/06 2 14,300,000 14,253,509
- --------------------------------------------------------------------------------
COMMERCIAL BANKS--2.1%
Bank of America
Corp., 5.115%, 8/2/06 13,000,000 12,998,153
- --------------------------------------------------------------------------------
HSBC USA, Inc.,
5.33%, 9/1/06 22,000,000 21,899,026
- --------------------------------------------------------------------------------
National City Credit
Corp., 5.11%, 8/3/06 20,000,000 19,994,322
----------------
54,891,501
- --------------------------------------------------------------------------------
COMMERCIAL FINANCE--2.4%
Countrywide
Financial Corp.:
5.30%, 8/8/06 28,000,000 27,971,144
5.37%, 8/28/06 28,500,000 28,385,216
- --------------------------------------------------------------------------------
Private Export
Funding Corp., 5.25%,
8/3/06 2 5,000,000 4,998,542
----------------
61,354,902
- --------------------------------------------------------------------------------
CONSTRUCTION MATERIALS--0.2%
Mississippi Business
Finance Corp. Revenue
Bonds, Shuqualak
Lumber Project, Series
2003, 5.40%, 8/1/06 1 2,000,000 2,000,000
- --------------------------------------------------------------------------------
Warrior Roofing
Manufacturing of
Georgia LLC, Series
2004, 5.45%, 8/1/06 1 3,710,000 3,710,000
----------------
5,710,000
13 | OPPENHEIMER MONEY MARKET FUND, INC.
STATEMENT OF INVESTMENTS Continued
- --------------------------------------------------------------------------------
PRINCIPAL VALUE
AMOUNT SEE NOTE 1
- --------------------------------------------------------------------------------
DIVERSIFIED FINANCIAL SERVICES--2.2%
General Electric
Capital Corp.:
5.28%, 8/21/06 $ 19,000,000 $ 18,944,372
5.29%, 8/15/06 13,000,000 12,973,256
- --------------------------------------------------------------------------------
Greenwich Capital
Holdings, Inc., 5.525%,
2/15/07 1 20,000,000 20,000,000
- --------------------------------------------------------------------------------
HSBC Finance Corp.,
5.305%, 9/21/06 5,000,000 4,962,423
----------------
56,880,051
- --------------------------------------------------------------------------------
ELECTRIC UTILITIES--0.2%
AL Incentives Finance
Authority Special
Obligation Bonds,
Series 1999-C, 5.40%,
8/3/06 1 5,515,000 5,515,000
- --------------------------------------------------------------------------------
ENERGY EQUIPMENT & SERVICES--0.1%
Mississippi Business
Finance Corp.
Revenue Bonds,
Signal International
LLC Project:
5.40%, 8/1/06 1 1,100,000 1,100,000
5.40%, 8/1/06 1 1,300,000 1,300,000
----------------
2,400,000
- --------------------------------------------------------------------------------
FOOD PRODUCTS--0.1%
Beaver Cnty., UT
Environmental Facility
Revenue Bonds, BEST
Bio Fuels LLC Project,
Series 2003B, 5.70%,
8/1/06 1 3,465,000 3,465,000
- --------------------------------------------------------------------------------
INSURANCE--3.5%
ING America
Insurance Holdings,
Inc.:
5.38%, 10/5/06 25,000,000 24,757,153
5.40%, 10/17/06 9,000,000 8,896,050
- --------------------------------------------------------------------------------
Jackson National Life
Global Funding,
Series 2004-6,
5.439%, 8/15/06 1,3 17,500,000 17,500,000
PRINCIPAL VALUE
AMOUNT SEE NOTE 1
- --------------------------------------------------------------------------------
INSURANCE Continued
Metropolitan Life
Global Funding I,
Series 2003-5, 5.429%,
8/15/06 1,3 $ 18,000,000 $ 18,000,000
- --------------------------------------------------------------------------------
Prudential Insurance
Co. of America,
5.376%, 2/1/07 1,3 22,000,000 22,000,000
----------------
91,153,203
- --------------------------------------------------------------------------------
LEASING & FACTORING--1.5%
Toyota Motor Credit
Corp., 5.10%, 8/4/06 40,000,000 39,983,000
- --------------------------------------------------------------------------------
METALS & MINING--0.2%
AL Industrial
Development
Authority Revenue
Bonds, Simcala,
Inc. Project, Series
1995, 5.40%, 8/1/06 1 5,450,000 5,450,000
- --------------------------------------------------------------------------------
PHARMACEUTICALS--2.2%
Sanofi-Aventis:
5.09%, 8/2/06 2 45,000,000 44,993,640
5.165%, 8/30/06 2 11,000,000 10,954,232
----------------
55,947,872
- --------------------------------------------------------------------------------
SPECIAL PURPOSE FINANCIAL--11.9%
Cooperative Assn. of
Tractor Dealers, Inc.,
Series B:
5.12%, 8/16/06 8,000,000 7,982,933
5.12%, 8/17/06 6,570,000 6,555,050
5.35%, 8/18/06 8,420,000 8,398,728
5.42%, 10/25/06 16,351,000 16,141,753
- --------------------------------------------------------------------------------
K2 (USA) LLC:
5.14%, 11/27/06 18,200,000 17,893,370
5.38%, 9/13/06 2,000,000 1,987,148
5.38%, 9/18/06 35,000,000 34,751,733
5.39%, 9/25/06 20,000,000 19,835,306
- --------------------------------------------------------------------------------
LINKS Finance LLC,
5.32%, 8/11/06 36,000,000 35,946,800
- --------------------------------------------------------------------------------
Parkland (USA) LLC,
5.336%, 12/12/06 1,4 27,000,000 26,999,016
14 | OPPENHEIMER MONEY MARKET FUND, INC.
PRINCIPAL VALUE
AMOUNT SEE NOTE 1
- --------------------------------------------------------------------------------
SPECIAL PURPOSE FINANCIAL Continued
Premier Asset
Collateralized Entity
LLC 1:
5.38%, 10/25/06 2 $ 25,300,000 $ 24,978,620
5.40%, 10/20/06 2 24,500,000 24,206,000
- --------------------------------------------------------------------------------
RACERS Trust, Series
2004-6-MM, 5.42%,
8/22/06 1 15,000,000 15,000,000
- --------------------------------------------------------------------------------
Sigma Finance, Inc.:
5.30%, 8/23/06 31,000,000 30,899,594
5.31%, 8/25/06 14,600,000 14,548,317
- --------------------------------------------------------------------------------
Union Hamilton
Special Purpose
Funding LLC, 5.49%,
9/28/06 1,4 13,000,000 13,000,000
- --------------------------------------------------------------------------------
WIND Master Trust
Nts., 5.385%,
8/25/06 1,3 10,000,000 10,000,000
----------------
309,124,368
----------------
Total Short-Term Notes
(Cost $1,499,857,059) 1,499,857,059
- --------------------------------------------------------------------------------
TOTAL INVESTMENTS,
AT VALUE
(COST $2,517,810,473) 96.7% 2,517,810,473
- --------------------------------------------------------------------------------
OTHER ASSETS NET
OF LIABILITIES 3.3 86,949,497
---------------------------------
NET ASSETS 100.0% $ 2,604,759,970
=================================
FOOTNOTES TO STATEMENT OF INVESTMENTS
SHORT-TERM NOTES, DIRECT BANK OBLIGATIONS AND LETTERS OF CREDIT ARE GENERALLY
TRADED ON A DISCOUNT BASIS; THE INTEREST RATE SHOWN IS THE DISCOUNT RATE
RECEIVED BY THE FUND AT THE TIME OF PURCHASE. OTHER SECURITIES NORMALLY BEAR
INTEREST AT THE RATES SHOWN.
1. Represents the current interest rate for a variable or increasing rate
security.
2. Security issued in an exempt transaction without registration under the
Securities Act of 1933. Such securities amount to $722,498,028, or 27.74% of the
Fund's net assets, and have been determined to be liquid pursuant to guidelines
adopted by the Board of Directors.
3. Illiquid security. The aggregate value of illiquid securities as of July 31,
2006 was $117,500,000, which represents 4.51% of the Fund's net assets. See Note
4 of accompanying Notes.
4. Represents securities sold under Rule 144A, which are exempt from
registration under the Securities Act of 1933, as amended. These securities have
been determined to be liquid under guidelines established by the Board of
Directors. These securities amount to $39,999,016 or 1.54% of the Fund's net
assets as of July 31, 2006.
SEE ACCOMPANYING NOTES TO FINANCIAL STATEMENTS.
15 | OPPENHEIMER MONEY MARKET FUND, INC.
STATEMENT OF ASSETS AND LIABILITIES July 31, 2006
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
ASSETS
- --------------------------------------------------------------------------------
Investments, at value (cost $2,517,810,473)--see accompanying
statement of investments $ 2,517,810,473
- --------------------------------------------------------------------------------
Cash 7,006,306
- --------------------------------------------------------------------------------
Receivables and other assets:
Shares of capital stock sold 117,767,074
Interest 4,309,868
Other 144,201
----------------
Total assets 2,647,037,922
- --------------------------------------------------------------------------------
LIABILITIES
- --------------------------------------------------------------------------------
Payables and other liabilities:
Shares of capital stock redeemed 38,732,809
Dividends 2,679,058
Directors' compensation 358,289
Transfer and shareholder servicing agent fees 265,191
Shareholder communications 163,479
Other 79,126
----------------
Total liabilities 42,277,952
- --------------------------------------------------------------------------------
NET ASSETS $ 2,604,759,970
================
- --------------------------------------------------------------------------------
COMPOSITION OF NET ASSETS
- --------------------------------------------------------------------------------
Par value of shares of capital stock $ 260,465,901
- --------------------------------------------------------------------------------
Additional paid-in capital 2,344,278,108
- --------------------------------------------------------------------------------
Accumulated net realized gain on investments 15,961
----------------
NET ASSETS $ 2,604,759,970
================
- --------------------------------------------------------------------------------
NET ASSET VALUE PER SHARE
- --------------------------------------------------------------------------------
Class A Shares:
Net asset value and redemption price per share
(based on net assets of $1,596,820,427 and 1,596,722,820
shares of capital stock outstanding) $ 1.00
- --------------------------------------------------------------------------------
Class Y Shares:
Net asset value, redemption price and offering price per
share (based on net assets of $1,007,939,543 and
1,007,936,186 shares of capital stock outstanding) $ 1.00
SEE ACCOMPANYING NOTES TO FINANCIAL STATEMENTS.
16 | OPPENHEIMER MONEY MARKET FUND, INC.
STATEMENT OF OPERATIONS For the Year Ended July 31, 2006
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
INVESTMENT INCOME
- --------------------------------------------------------------------------------
Interest $ 100,207,205
- --------------------------------------------------------------------------------
Other income 187,946
----------------
Total investment income 100,395,151
- --------------------------------------------------------------------------------
EXPENSES
- --------------------------------------------------------------------------------
Management fees 9,119,532
- --------------------------------------------------------------------------------
Transfer and shareholder servicing agent fees:
Class A 3,314,058
Class Y 37,972
- --------------------------------------------------------------------------------
Shareholder communications:
Class A 459,368
Class Y 80
- --------------------------------------------------------------------------------
Directors' compensation 23,643
- --------------------------------------------------------------------------------
Custodian fees and expenses 5,039
- --------------------------------------------------------------------------------
Other 203,230
----------------
Total expenses 13,162,922
Less waivers and reimbursements of expenses (11,307)
----------------
Net expenses 13,151,615
- --------------------------------------------------------------------------------
NET INVESTMENT INCOME 87,243,536
- --------------------------------------------------------------------------------
NET REALIZED GAIN ON INVESTMENTS 15,960
- --------------------------------------------------------------------------------
NET INCREASE IN NET ASSETS RESULTING FROM OPERATIONS $ 87,259,496
================
SEE ACCOMPANYING NOTES TO FINANCIAL STATEMENTS.
17 | OPPENHEIMER MONEY MARKET FUND, INC.
STATEMENTS OF CHANGES IN NET ASSETS
- --------------------------------------------------------------------------------
YEAR ENDED JULY 31, 2006 2005
- --------------------------------------------------------------------------------
OPERATIONS
- --------------------------------------------------------------------------------
Net investment income $ 87,243,536 $ 33,571,087
- --------------------------------------------------------------------------------
Net realized gain 15,960 54,749
-----------------------------------
Net increase in net assets resulting
from operations 87,259,496 33,625,836
- --------------------------------------------------------------------------------
DIVIDENDS AND/OR DISTRIBUTIONS TO SHAREHOLDERS
- --------------------------------------------------------------------------------
Dividends from net investment income:
Class A (71,566,197) (33,138,180)
Class Y (15,732,087) (435,695)
- --------------------------------------------------------------------------------
CAPITAL STOCK TRANSACTIONS
- --------------------------------------------------------------------------------
Net increase (decrease) in net assets
resulting from capital stock transactions:
Class A (365,712,571) 165,474,199
Class Y 982,713,397 25,222,789
- --------------------------------------------------------------------------------
NET ASSETS
- --------------------------------------------------------------------------------
Total increase 616,962,038 190,748,949
- --------------------------------------------------------------------------------
Beginning of period 1,987,797,932 1,797,048,983
-----------------------------------
End of period $2,604,759,970 $ 1,987,797,932
===================================
SEE ACCOMPANYING NOTES TO FINANCIAL STATEMENTS.
18 | OPPENHEIMER MONEY MARKET FUND, INC.
FINANCIAL HIGHLIGHTS
- --------------------------------------------------------------------------------
CLASS A YEAR ENDED JULY 31, 2006 2005 2004 2003 2002
- ----------------------------------------------------------------------------------------------------------------------
PER SHARE OPERATING DATA
- ----------------------------------------------------------------------------------------------------------------------
Net asset value, beginning of period $ 1.00 $ 1.00 $ 1.00 $ 1.00 $ 1.00
- ----------------------------------------------------------------------------------------------------------------------
Income from investment operations--
net investment income and net realized gain .04 1 .02 1 -- 2 .01 .02
- ----------------------------------------------------------------------------------------------------------------------
Dividends and/or distributions to shareholders:
Dividends from net investment income (.04) (.02) -- 2 (.01) (.02)
Distributions from net realized gain -- -- -- -- 2 -- 2
--------------------------------------------------------------------
Total dividends and/or distributions
to shareholders (.04) (.02) -- 2 (.01) (.02)
- ----------------------------------------------------------------------------------------------------------------------
Net asset value, end of period $ 1.00 $ 1.00 $ 1.00 $ 1.00 $ 1.00
====================================================================
- ----------------------------------------------------------------------------------------------------------------------
TOTAL RETURN 3 3.92% 1.80% 0.43% 0.84% 1.88%
- ----------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------
RATIOS/SUPPLEMENTAL DATA
- ----------------------------------------------------------------------------------------------------------------------
Net assets, end of period (in thousands) $1,596,820 $1,962,575 $1,797,049 $1,955,368 $2,093,484
- ----------------------------------------------------------------------------------------------------------------------
Average net assets (in thousands) $1,885,665 $1,856,740 $1,808,266 $2,014,466 $2,005,530
- ----------------------------------------------------------------------------------------------------------------------
Ratios to average net assets: 4
Net investment income 3.79% 1.78% 0.43% 0.83% 1.88%
Total expenses 0.62% 0.65% 0.73% 0.72% 0.79%
Expenses after payments and waivers
and reduction to custodian expenses 0.62% 0.65% 0.72% 0.72% 0.63%
1. Per share amounts calculated based on the average shares outstanding during
the period.
2. Less than $0.005 per share.
3. Assumes an initial investment on the business day before the first day of the
fiscal period, with all dividends and distributions reinvested in additional
shares on the reinvestment date, and redemption at the net asset value
calculated on the last business day of the fiscal period. Total returns are not
annualized for periods of less than one full year. Returns do not reflect the
deduction of taxes that a shareholder would pay on fund distributions or the
redemption of fund shares.
4. Annualized for periods of less than one full year.
SEE ACCOMPANYING NOTES TO FINANCIAL STATEMENTS.
19 | OPPENHEIMER MONEY MARKET FUND, INC.
FINANCIAL HIGHLIGHTS Continued
- --------------------------------------------------------------------------------
CLASS Y YEAR ENDED JULY 31, 2006 2005 1
- --------------------------------------------------------------------------------
PER SHARE OPERATING DATA
- --------------------------------------------------------------------------------
Net asset value, beginning of period $ 1.00 $ 1.00
- --------------------------------------------------------------------------------
Income from investment operations--
net investment income and net realized gain 2 .04 .02
- --------------------------------------------------------------------------------
Dividends and/or distributions to shareholders:
Dividends from net investment income (.04) (.02)
Distributions from net realized gain -- --
-------------------------
Total dividends and/or distributions to shareholders (.04) (.02)
- --------------------------------------------------------------------------------
Net asset value, end of period $ 1.00 $ 1.00
=========================
- --------------------------------------------------------------------------------
TOTAL RETURN 3 4.08% 1.85%
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
RATIOS/SUPPLEMENTAL DATA
- --------------------------------------------------------------------------------
Net assets, end of period (in thousands) $1,007,940 $ 25,223
- --------------------------------------------------------------------------------
Average net assets (in thousands) $ 347,670 $ 22,892
- --------------------------------------------------------------------------------
Ratios to average net assets: 4
Net investment income 4.52% 2.05%
Total expenses 0.43% 5 0.52% 6
1. For the period from August 27, 2004 (inception of offering) to July 31, 2005.
2. Per share amounts calculated based on the average shares outstanding during
the period.
3. Assumes an initial investment on the business day before the first day of the
fiscal period, with all dividends and distributions reinvested in additional
shares on the reinvestment date, and redemption at the net asset value
calculated on the last business day of the fiscal period. Total returns are not
annualized for periods of less than one full year. Returns do not reflect the
deduction of taxes that a shareholder would pay on fund distributions or the
redemption of fund shares.
4. Annualized for periods of less than one full year.
5. Voluntary waiver of transfer agent fees less than 0.01%.
6. Reduction to custodian expenses less than 0.01%.
SEE ACCOMPANYING NOTES TO FINANCIAL STATEMENTS.
20 | OPPENHEIMER MONEY MARKET FUND, INC.
NOTES TO FINANCIAL STATEMENTS
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
1. SIGNIFICANT ACCOUNTING POLICIES
Oppenheimer Money Market Fund, Inc. (the Fund) is registered under the
Investment Company Act of 1940, as amended, as an open-end management investment
company. The Fund's investment objective is to seek the maximum current income
that is consistent with stability of principal. The Fund's investment advisor is
OppenheimerFunds, Inc. (the Manager).
The Fund offers Class A and Class Y shares. Class A shares are sold at
their offering price, which is the net asset value per share without any initial
sales charge. Class Y shares are sold to certain institutional investors without
a front-end sales charge. Both classes of shares have identical rights and
voting privileges with respect to the Fund in general and exclusive voting
rights on matters that affect that class alone. Earnings, net assets and net
asset value per share may differ due to each class having its own expenses, such
as transfer and shareholder servicing agent fees and shareholder communications,
directly attributable to that class.
The following is a summary of significant accounting policies consistently
followed by the Fund.
- --------------------------------------------------------------------------------
SECURITIES VALUATION. Portfolio securities are valued on the basis of amortized
cost, which approximates market value.
- --------------------------------------------------------------------------------
ALLOCATION OF INCOME, EXPENSES, GAINS AND LOSSES. Income, expenses (other than
those attributable to a specific class), gains and losses are allocated on a
daily basis to each class of shares based upon the relative proportion of net
assets represented by such class. Operating expenses directly attributable to a
specific class are charged against the operations of that class.
- --------------------------------------------------------------------------------
FEDERAL TAXES. The Fund intends to comply with provisions of the Internal
Revenue Code applicable to regulated investment companies and to distribute
substantially all of its investment company taxable income to shareholders,
therefore, no federal income or excise tax provision is required.
The tax components of capital shown in the table below represent distribution
requirements the Fund must satisfy under the income tax regulations, losses the
Fund may be able to offset against income and gains realized in future years for
federal income tax purposes.
UNDISTRIBUTED NET UNDISTRIBUTED ACCUMULATED LOSS
INVESTMENT INCOME LONG-TERM GAIN CARRYFORWARD 1,2
------------------------------------------------------------------------
$2,890,151 $-- $--
1. During the fiscal year ended July 31, 2006, the Fund did not utilize any
capital loss carryforward.
2. During the fiscal year ended July 31, 2005, the Fund did not utilize any
capital loss carryforward.
Net investment income (loss) and net realized gain (loss) may differ for
financial statement and tax purposes. The character of dividends and
distributions made during the fiscal year from net investment income or net
realized gains may differ from their ultimate characterization for federal
income tax purposes. Also, due to timing of dividends
21 | OPPENHEIMER MONEY MARKET FUND, INC.
NOTES TO FINANCIAL STATEMENTS Continued
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
1. SIGNIFICANT ACCOUNTING POLICIES Continued
and distributions, the fiscal year in which amounts are distributed may differ
from the fiscal year in which the income or net realized gain was recorded by
the Fund. Accordingly, the following amounts have been reclassified for July 31,
2006. Net assets of the Fund were unaffected by the reclassifications.
REDUCTION TO REDUCTION TO
ACCUMULATED ACCUMULATED NET
NET INVESTMENT REALIZED GAIN
LOSS ON INVESTMENTS
---------------------------------------------
$54,748 $54,748
The tax character of distributions paid during the years ended July 31, 2006 and
July 31, 2005 was as follows:
YEAR ENDED YEAR ENDED
JULY 31, 2006 JULY 31, 2005
-------------------------------------------------------------------------
Distributions paid from:
Ordinary income $87,298,284 $ 33,573,875
- --------------------------------------------------------------------------------
DIRECTORS' COMPENSATION. The Fund has adopted an unfunded retirement plan for
the Fund's independent directors. Benefits are based on years of service and
fees paid to each director during the years of service. During the year ended
July 31, 2006, the Fund's projected benefit obligations were decreased by
$31,825 and payments of $30,185 were made to retired directors, resulting in an
accumulated liability of $294,225 as of July 31, 2006.
The Board of Directors has adopted a deferred compensation plan for
independent directors that enables directors to elect to defer receipt of all or
a portion of the annual compensation they are entitled to receive from the Fund.
For purposes of determining the amount owed to the Director under the plan,
deferred amounts are treated as though equal dollar amounts had been invested in
shares of the Fund or in other Oppenheimer funds selected by the Director. The
Fund purchases shares of the funds selected for deferral by the Director in
amounts equal to his or her deemed investment, resulting in a Fund asset equal
to the deferred compensation liability. Such assets are included as a component
of "Other" within the asset section of the Statement of Assets and Liabilities.
Deferral of directors' fees under the plan will not affect the net assets of the
Fund, and will not materially affect the Fund's assets, liabilities or net
investment income per share. Amounts will be deferred until distributed in
accordance to the Plan.
- --------------------------------------------------------------------------------
DIVIDENDS AND DISTRIBUTIONS TO SHAREHOLDERS. Dividends and distributions to
shareholders, which are determined in accordance with income tax regulations,
are recorded on the ex-dividend date. Income distributions, if any, are declared
daily and paid monthly. Capital gain distributions, if any, are declared and
paid annually but may be paid at other times to maintain the net asset value per
share at $1.00.
- --------------------------------------------------------------------------------
CUSTODIAN FEES. "Custodian fees and expenses" in the Statement of Operations may
include interest expense incurred by the Fund on any cash overdrafts of its
custodian account during the period. Such cash overdrafts may result from the
effects of failed
23 | OPPENHEIMER MONEY MARKET FUND, INC.
trades in portfolio securities and from cash outflows resulting from
unanticipated shareholder redemption activity. The Fund pays interest to its
custodian on such cash overdrafts, to the extent they are not offset by positive
cash balances maintained by the Fund, at a rate equal to the Federal Funds Rate
plus 0.50%. The "Reduction to custodian expenses" line item, if applicable,
represents earnings on cash balances maintained by the Fund during the period.
Such interest expense and other custodian fees may be paid with these earnings.
- --------------------------------------------------------------------------------
SECURITY TRANSACTIONS. Security transactions are recorded on the trade date.
Realized gains and losses on securities sold are determined on the basis of
identified cost.
- --------------------------------------------------------------------------------
INDEMNIFICATIONS. The Fund's organizational documents provide current and former
directors and officers with a limited indemnification against liabilities
arising in connection with the performance of their duties to the Fund. In the
normal course of business, the Fund may also enter into contracts that provide
general indemnifications. The Fund's maximum exposure under these arrangements
is unknown as this would be dependent on future claims that may be made against
the Fund. The risk of material loss from such claims is considered remote.
- --------------------------------------------------------------------------------
OTHER. The preparation of financial statements in conformity with U.S. generally
accepted accounting principles requires management to make estimates and
assumptions that affect the reported amounts of assets and liabilities and
disclosure of contingent assets and liabilities at the date of the financial
statements and the reported amounts of income and expenses during the reporting
period. Actual results could differ from those estimates.
- --------------------------------------------------------------------------------
2. SHARES OF CAPITAL STOCK
The Fund has authorized 7 billion shares of $.10 par value capital stock.
Transactions in shares of capital stock were as follows:
YEAR ENDED JULY 31, 2006 YEAR ENDED JULY 31, 2005 1
SHARES AMOUNT SHARES AMOUNT
- -----------------------------------------------------------------------------------------------------
CLASS A
Sold 2,183,702,008 $ 2,183,701,983 2,901,110,299 $ 2,901,110,299
Dividends and/or
distributions reinvested 69,915,708 69,915,708 30,377,215 30,377,215
Redeemed (2,619,350,286) (2,619,330,262) (2,766,013,315) (2,766,013,315)
---------------------------------------------------------------------
Net increase (decrease) (365,732,570) $ (365,712,571) 165,474,199 $ 165,474,199
=====================================================================
- -----------------------------------------------------------------------------------------------------
CLASS Y
Sold 1,111,138,886 $ 1,111,138,886 62,684,594 $ 62,684,594
Dividends and/or
distributions reinvested 14,748,120 14,748,120 392,058 392,058
Redeemed (143,173,609) (143,173,609) (37,853,863) (37,853,863)
---------------------------------------------------------------------
Net increase 982,713,397 $ 982,713,397 25,222,789 $ 25,222,789
=====================================================================
1. For the year ended July 31, 2005 for Class A shares and for the period from
August 27, 2004 (inception of offering) to July 31, 2005 for Class Y shares.
23 | OPPENHEIMER MONEY MARKET FUND, INC.
NOTES TO FINANCIAL STATEMENTS Continued
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
3. FEES AND OTHER TRANSACTIONS WITH AFFILIATES
MANAGEMENT FEES. Management fees paid to the Manager were in accordance with the
investment advisory agreement with the Fund which provides for a fee at an
average annual rate as shown in the following table:
FEE SCHEDULE
---------------------------------------------------
Up to $500 million of net assets 0.450%
Next $500 million of net assets 0.425
Next $500 million of net assets 0.400
Next $1.5 billion of net assets 0.375
Over $3 billion of net assets 0.350
- --------------------------------------------------------------------------------
TRANSFER AGENT FEES. OppenheimerFunds Services (OFS), a division of the Manager,
acts as the transfer and shareholder servicing agent for the Fund. The Fund pays
OFS a per account fee. For the year ended July 31, 2006, the Fund paid
$3,384,164 to OFS for services to the Fund.
Additionally, Class Y shares are subject to minimum fees of $10,000 per
annum for assets of $10 million or more. The Class Y shares are subject to the
minimum fees in the event that the per account fee does not equal or exceed the
applicable minimum fees. OFS may voluntarily waive the minimum fees.
- --------------------------------------------------------------------------------
SALES CHARGES. Front-end sales charges and contingent deferred sales charges
(CDSC) do not represent expenses of the Fund. They are deducted from the
proceeds of sales of Fund shares prior to investment or from redemption proceeds
prior to remittance, as applicable. The sales charges retained by the
Distributor from the sale of shares and the CDSC retained by the Distributor on
the redemption of shares is shown in the following table for the period
indicated.
CLASS A CONTINGENT DEFERRED SALES
YEAR ENDED CHARGES RETAINED BY DISTRIBUTOR
----------------------------------------------------
July 31, 2006 $35,605
- --------------------------------------------------------------------------------
WAIVERS AND REIMBURSEMENTS OF EXPENSES. OFS has voluntarily agreed to limit
transfer and shareholder servicing agent fees to 0.35% for Class A shares and
0.10% for Class Y shares of average annual net assets. During the year ended
July 31, 2006, OFS waived $11,307 for Class Y shares. This undertaking may be
amended or withdrawn at any time.
- --------------------------------------------------------------------------------
4. ILLIQUID SECURITIES
As of July 31, 2006, investments in securities included issues that are
illiquid. A security may be considered illiquid if it lacks a readily available
market or if its valuation has not changed for a certain period of time. The
Fund will not invest more than 10% of its net assets (determined at the time of
purchase and reviewed periodically) in illiquid securities. Securities that are
illiquid are marked with the applicable footnote on the Statement of
Investments.
24 | OPPENHEIMER MONEY MARKET FUND, INC.
- --------------------------------------------------------------------------------
5. RECENT ACCOUNTING PRONOUNCEMENT
In June 2006, the Financial Accounting Standards Board ("FASB") issued FASB
Interpretation No. 48 ("FIN 48"), ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES.
FIN 48 clarifies the accounting for uncertainty in income taxes recognized in an
enterprise's financial statements in accordance with FASB Statement No. 109,
Accounting for Income Taxes. FIN 48 requires the evaluation of tax positions
taken in the course of preparing the Fund's tax returns to determine whether it
is "more-likely-than-not" that tax positions taken in the Fund's tax return will
be ultimately sustained. A tax liability and expense must be recorded in respect
of any tax position that, in Management's judgment, will not be fully realized.
FIN 48 is effective for fiscal years beginning after December 15, 2006. As of
July 31, 2006, the Manager is evaluating the implications of FIN 48. Its impact
in the Fund's financial statements has not yet been determined.
- --------------------------------------------------------------------------------
6. LITIGATION
A consolidated amended complaint was filed as a putative class action against
the Manager and the Transfer Agent and other defendants (including 51 of the
Oppenheimer funds excluding the Fund) in the U.S. District Court for the
Southern District of New York on January 10, 2005 and was amended on March 4,
2005. The complaint alleged, among other things, that the Manager charged
excessive fees for distribution and other costs, and that by permitting and/or
participating in those actions, the Directors/Trustees and the Officers of the
funds breached their fiduciary duties to fund shareholders under the Investment
Company Act of 1940 and at common law. The plaintiffs sought unspecified
damages, an accounting of all fees paid, and an award of attorneys' fees and
litigation expenses.
In response to the defendants' motions to dismiss the suit, seven of the
eight counts in the complaint, including the claims against certain of the
Oppenheimer funds, as nominal defendants, and against certain present and former
Directors, Trustees and Officers of the funds, and the Distributor, as
defendants, were dismissed with prejudice, by court order dated March 10, 2006,
and the remaining count against the Manager and the Transfer Agent was dismissed
with prejudice by court order dated April 5, 2006. The plaintiffs filed an
appeal of those dismissals on May 11, 2006.
The Manager believes that the allegations contained in the complaint are
without merit and that there are substantial grounds to sustain the district
court's rulings. The Manager also believes that it is premature to render any
opinion as to the likelihood of an outcome unfavorable to it, the funds, the
Directors/Trustees or the Officers on the appeal of the decisions of the
district court, and that no estimate can yet be made with any degree of
certainty as to the amount or range of any potential loss.
25 | OPPENHEIMER MONEY MARKET FUND, INC.
REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
THE BOARD OF DIRECTORS AND SHAREHOLDERS OF OPPENHEIMER MONEY MARKET FUND, INC.:
We have audited the accompanying statement of assets and liabilities of
Oppenheimer Money Market Fund, Inc., including the statement of investments, as
of July 31, 2006, and the related statement of operations for the year then
ended, the statements of changes in net assets for each of the years in the
two-year period then ended, and the financial highlights for each of the years
in the five-year period then ended. These financial statements and financial
highlights are the responsibility of the Fund's management. Our responsibility
is to express an opinion on these financial statements and financial highlights
based on our audits.
We conducted our audits in accordance with the standards of the Public
Company Accounting Oversight Board (United States). Those standards require that
we plan and perform the audit to obtain reasonable assurance about whether the
financial statements and financial highlights are free of material misstatement.
An audit includes examining, on a test basis, evidence supporting the amounts
and disclosures in the financial statements. Our procedures included
confirmation of securities owned as of July 31, 2006, by correspondence with the
custodian. An audit also includes assessing the accounting principles used and
significant estimates made by management, as well as evaluating the overall
financial statement presentation. We believe that our audits provide a
reasonable basis for our opinion.
In our opinion, the financial statements and financial highlights referred
to above present fairly, in all material respects, the financial position of
Oppenheimer Money Market Fund, Inc. as of July 31, 2006, the results of its
operations for the year then ended, the changes in its net assets for each of
the years in the two-year period then ended, and the financial highlights for
each of the years in the five-year period then ended, in conformity with U.S.
generally accepted accounting principles.
KPMG LLP
Denver, Colorado
September 14, 2006
26 | OPPENHEIMER MONEY MARKET FUND, INC.
FEDERAL INCOME TAX INFORMATION Unaudited
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
In early 2007, if applicable, shareholders of record will receive information
regarding all dividends and distributions paid to them by the Fund during
calendar year 2006. Regulations of the U.S. Treasury Department require the Fund
to report this information to the Internal Revenue Service.
The foregoing information is presented to assist shareholders in reporting
distributions received from the Fund to the Internal Revenue Service. Because of
the complexity of the federal regulations which may affect your individual tax
return and the many variations in state and local tax regulations, we recommend
that you consult your tax advisor for specific guidance.
27 | OPPENHEIMER MONEY MARKET FUND, INC.
PORTFOLIO PROXY VOTING POLICIES AND PROCEDURES;
UPDATES TO STATEMENTS OF INVESTMENTS Unaudited
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
The Fund has adopted Portfolio Proxy Voting Policies and Procedures under which
the Fund votes proxies relating to securities ("portfolio proxies") held by the
Fund. A description of the Fund's Portfolio Proxy Voting Policies and Procedures
is available (i) without charge, upon request, by calling the Fund toll-free at
1.800.525.7048, (ii) on the Fund's website at www.oppenheimerfunds.com, and
(iii) on the SEC's website at www.sec.gov. In addition, the Fund is required to
file Form N-PX, with its complete proxy voting record for the 12 months ended
June 30th, no later than August 31st of each year. The Fund's voting record is
available (i) without charge, upon request, by calling the Fund toll-free at
1.800.525.7048, and (ii) in the Form N-PX filing on the SEC's website at
www.sec.gov.
The Fund files its complete schedule of portfolio holdings with the SEC
for the first quarter and the third quarter of each fiscal year on Form N-Q. The
Fund's Form N-Q filings are available on the SEC's website at
http://www.sec.gov. Those forms may be reviewed and copied at the SEC's Public
Reference Room in Washington D.C. Information on the operation of the Public
Reference Room may be obtained by calling 1-800-SEC-0330.
28 | OPPENHEIMER MONEY MARKET FUND, INC.
DIRECTORS AND OFFICERS Unaudited
- --------------------------------------------------------------------------------
- -----------------------------------------------------------------------------------------------------------------------
NAME, POSITION(S) HELD WITH THE PRINCIPAL OCCUPATION(S) DURING THE PAST 5 YEARS; OTHER TRUSTEESHIPS/DIRECTORSHIPS
FUND, LENGTH OF SERVICE, AGE HELD; NUMBER OF PORTFOLIOS IN THE FUND COMPLEX CURRENTLY OVERSEEN
INDEPENDENT THE ADDRESS OF EACH DIRECTOR IN THE CHART BELOW IS 6803 S. TUCSON WAY, CENTENNIAL,
DIRECTOR COLORADO 80112-3924. EACH DIRECTOR SERVES FOR AN INDEFINITE TERM, OR UNTIL HIS
OR HER RESIGNATION, RETIREMENT, DEATH OR REMOVAL.
CLAYTON K. YEUTTER, Director of American Commercial Lines (barge company) (since January 2005);
Chairman of the Board Attorney at Hogan & Hartson (law firm) (since June 1993); Director of Covanta
of Directors (since 2003), Holding Corp. (waste-to-energy company) (since 2002); Director of Weyerhaeuser
Director (since 1993) Corp. (1999-April 2004); Director of Caterpillar, Inc. (1993-December 2002);
Age: 75 Director of ConAgra Foods (1993-2001); Director of Texas Instruments (1993-
2001); Director of FMC Corporation (1993-2001). Oversees 43 portfolios in the
OppenheimerFunds complex.
MATTHEW P. FINK, Trustee of the Committee for Economic Development (policy research founda-tion)
Director (since 2005) (since 2005); Director of ICI Education Foundation (education foundation) (since
Age: 65 October 1991); President of the Investment Company Institute (trade association)
(October 1991-June 2004); Director of ICI Mutual Insurance Com-pany (insurance
company) (October 1991-June 2004). Oversees 43 portfolios in the OppenheimerFunds
complex.
ROBERT G. GALLI, A director or trustee of other Oppenheimer funds. Oversees 53 portfolios in the
Director (since 1993) OppenheimerFunds complex.
Age: 73
PHILLIP A. GRIFFITHS, Distinguished Presidential Fellow for International Affairs (since 2002) and Mem-
Director (since 2002) ber (since 1979) of the National Academy of Sciences; Council on Foreign
Age: 67 Relations (since 2002); Director of GSI Lumonics Inc. (precision medical equip-
ment supplier) (since 2001); Senior Advisor of The Andrew W. Mellon Foundation
(since 2001); Chair of Science Initiative Group (since 1999); Member of the
American Philosophical Society (since 1996); Trustee of Woodward Academy (since
1983); Foreign Associate of Third World Academy of Sciences; Director of the
Institute for Advanced Study (1991-2004); Director of Bankers Trust New York
Corporation (1994-1999); Provost at Duke University (1983-1991). Oversees 43
portfolios in the OppenheimerFunds complex.
MARY F. MILLER, Trustee of the American Symphony Orchestra (not-for-profit) (since October 1998);
Director (since 2004) and Senior Vice President and General Auditor of American Express Company
Age: 63 (financial services company) (July 1998-February 2003). Oversees 43 portfolios in
the OppenheimerFunds complex.
JOEL W. MOTLEY, Director of Columbia Equity Financial Corp. (privately-held financial adviser)
Director (since 2002) (since 2002); Managing Director of Carmona Motley, Inc. (privately-held finan-
Age: 54 cial adviser) (since January 2002); Managing Director of Carmona Motley Hoffman
Inc. (privately-held financial adviser) (January 1998-December 2001); Member of
the Finance and Budget Committee of the Council on Foreign Relations, the
Investment Committee of the Episcopal Church of America, the Investment Committee
and Board of Human Rights Watch and the Investment Committee of Historic Hudson
Valley. Oversees 43 portfolios in the OppenheimerFunds complex.
29 | OPPENHEIMER MONEY MARKET FUND, INC.
DIRECTORS AND OFFICERS Unaudited / Continued
- --------------------------------------------------------------------------------
KENNETH A. RANDALL, Director of Dominion Resources, Inc. (electric utility holding company)
Director (since 1987) (February 1972-October 2005); Former Director of Prime Retail, Inc. (real estate
Age: 79 investment trust), Dominion Energy Inc. (electric power and oil & gas producer),
Lumberman's Mutual Casualty Company, American Motorists Insurance Company and
American Manufacturers Mutual Insurance Company; Former President and Chief
Executive Officer of The Conference Board, Inc. (interna-tional economic and
business research). Oversees 43 portfolios in the OppenheimerFunds complex.
RUSSELL S. REYNOLDS, JR., Chairman of The Directorship Search Group, Inc. (corporate governance consult-
Director (since 1989) ing and executive recruiting) (since 1993); Life Trustee of International House
Age: 74 (non-profit educational organization); Founder, Chairman and Chief Executive
Officer of Russell Reynolds Associates, Inc. (1969-1993); Banker at J.P. Morgan &
Co. (1958-1966); 1st Lt. Strategic Air Command, U.S. Air Force (1954-1958).
Oversees 43 portfolios in the OppenheimerFunds complex.
JOSEPH M. WIKLER, Director of the following medical device companies: Medintec (since 1992) and
Director (since 2005) Cathco (since 1996); Director of Lakes Environmental Association (since 1996);
Age: 65 Member of the Investment Committee of the Associated Jewish Charities of
Baltimore (since 1994); Director of Fortis/Hartford mutual funds (1994-December
2001). Oversees 43 portfolios in the OppenheimerFunds complex.
PETER I. WOLD, President of Wold Oil Properties, Inc. (oil and gas exploration and production
Director (since 2005) company) (since 1994); Vice President, Secretary and Treasurer of Wold Trona
Age: 58 Company, Inc. (soda ash processing and production) (since 1996); Vice President
of Wold Talc Company, Inc. (talc mining) (since 1999); Managing Member of
Hole-in-the-Wall Ranch (cattle ranching) (since 1979); Director and Chairman of
the Denver Branch of the Federal Reserve Bank of Kansas City (1993-1999); and
Director of PacifiCorp. (electric utility) (1995-1999). Oversees 43 portfolios
in the OppenheimerFunds complex.
BRIAN F. WRUBLE, General Partner of Odyssey Partners, L.P. (hedge fund) (since September 1995);
Director (since 2005) Director of Special Value Opportunities Fund, LLC (registered investment com-
Age: 63 pany) (since September 2004); Member of Zurich Financial Investment Advisory
Board (insurance) (since October 2004); Board of Governing Trustees of The
Jackson Laboratory (non-profit) (since August 1990); Trustee of the Institute for
Advanced Study (non-profit educational institute) (since May 1992); Special
Limited Partner of Odyssey Investment Partners, LLC (private equity investment)
(January 1999-September 2004); Trustee of Research Foundation of AIMR (2000-
2002) (investment research, non-profit); Governor, Jerome Levy Economics
Institute of Bard College (August 1990-September 2001) (economics research);
Director of Ray & Berendtson, Inc. (May 2000-April 2002) (executive search firm).
Oversees 53 portfolios in the OppenheimerFunds complex.
- -----------------------------------------------------------------------------------------------------------------------
INTERESTED DIRECTOR THE ADDRESS OF MR. MURPHY IS TWO WORLD FINANCIAL CENTER, 225 LIBERTY STREET, 11TH
AND OFFICER FLOOR, NEW YORK, NEW YORK 10281-1008. MR. MURPHY SERVES AS A DIRECTOR FOR AN
INDEFINITE TERM, OR UNTIL HIS RESIGNATION, RETIREMENT, DEATH OR REMOVAL AND AS AN
OFFI-CER FOR AN INDEFINITE TERM, OR UNTIL HIS RESIGNATION, RETIREMENT, DEATH OR
REMOVAL. MR. MURPHY IS AN INTERESTED DIRECTOR DUE TO HIS POSITIONS WITH
OPPENHEIMERFUNDS, INC. AND ITS AFFILIATES.
30 | OPPENHEIMER MONEY MARKET FUND, INC.
JOHN V. MURPHY, Chairman, Chief Executive Officer and Director (since June 2001) and President
Director (since 2002) and (since September 2000) of the Manager; President and a director or trustee of
President and Principal other Oppenheimer funds; President and Director of Oppenheimer Acquisition
Executive Officer (since 2001) Corp. ("OAC") (the Manager's parent holding company) and of Oppenheimer
Age: 57 Partnership Holdings, Inc. (holding company subsidiary of the Manager) (since
July 2001); Director of OppenheimerFunds Distributor, Inc. (subsidiary of the
Manager) (since November 2001); Chairman and Director of Shareholder Services,
Inc. and of Shareholder Financial Services, Inc. (transfer agent sub-sidiaries
of the Manager) (since July 2001); President and Director of OppenheimerFunds
Legacy Program (charitable trust program established by the Manager) (since July
2001); Director of the following investment advisory subsidiaries of the Manager:
OFI Institutional Asset Management, Inc., Centennial Asset Management
Corporation, Trinity Investment Management Corporation and Tremont Capital
Management, Inc. (since November 2001), HarbourView Asset Management Corporation
and OFI Private Investments, Inc. (since July 2001); President (since November 1,
2001) and Director (since July 2001) of Oppenheimer Real Asset Management, Inc.;
Executive Vice President of Massachusetts Mutual Life Insurance Company (OAC's
parent company) (since February 1997); Director of DLB Acquisition Corporation
(holding company par-ent of Babson Capital Management LLC) (since June 1995);
Member of the Investment Company Institute's Board of Governors (since October 3,
2003); Chief Operating Officer of the Manager (September 2000-June 2001);
President and Trustee of MML Series Investment Fund and MassMutual Select Funds
(open-end investment companies) (November 1999-November 2001); Director of C.M.
Life Insurance Company (September 1999-August 2000); President, Chief Executive
Officer and Director of MML Bay State Life Insurance Company (September
1999-August 2000); Director of Emerald Isle Bancorp and Hibernia Savings Bank
(wholly-owned subsidiary of Emerald Isle Bancorp) (June 1989-June 1998). Oversees
91 portfolios in the OppenheimerFunds complex.
- ---------------------------------------------------------------------------------------------------------------------
OTHER OFFICERS THE ADDRESSES OF THE OFFICERS IN THE CHART BELOW ARE AS FOLLOWS: FOR MR. ZACK,
OF THE FUND TWO WORLD FINANCIAL CENTER, 225 LIBERTY STREET, NEW YORK, NEW YORK 10281-1008,
FOR MS. WOLF AND MESSRS. VANDEHEY, WEISS AND WIXTED, 6803 S. TUCSON WAY,
CENTENNIAL, COLORADO 80112-3924. EACH OFFICER SERVES FOR AN INDEFINITE TERM OR
UNTIL HIS OR HER RESIGNATION, RETIREMENT, DEATH OR REMOVAL.
CAROL E. WOLF, Senior Vice President of the Manager (since June 2000) and of HarbourView Asset
Vice President and Portfolio Management Corporation (since June 2003); an officer of 6 portfolios in the
Manager (since 1988) OppenheimerFunds complex. Formerly Vice President of OppenheimerFunds, Inc.
Age: 54 (June 1990-June 2000).
BARRY D. WEISS, Vice President of the Manager (since July 2001) and of HarbourView Asset
Vice President and Portfolio Management Corporation (since June 2003); an officer of 6 portfolios in the
Manager (since 2001) OppenheimerFunds complex. Formerly Assistant Vice President and Senior
Age: 42 Credit Analyst of the Manager (February 2000-June 2001). Prior to joining the
Manager in February 2000, he was Associate Director, Structured Finance, Fitch
IBCA Inc. (April 1998-February 2000).
MARK S. VANDEHEY, Senior Vice President and Chief Compliance Officer of the Manager (since
Vice President and Chief March 2004); Vice President of OppenheimerFunds Distributor, Inc., Centennial
Compliance Officer Asset Management Corporation and Shareholder Services, Inc. (since June 1983).
(since 2004) Former Vice President and Director of Internal Audit of the Manager (1997-
Age: 56 February 2004). An officer of 91 portfolios in the OppenheimerFunds complex.
31 | OPPENHEIMER MONEY MARKET FUND, INC.
DIRECTORS AND OFFICERS Unaudited / Continued
- --------------------------------------------------------------------------------
BRIAN W. WIXTED, Senior Vice President and Treasurer of the Manager (since March 1999); Treasurer
Treasurer and Principal of the following: HarbourView Asset Management Corporation, Shareholder Financial
Financial and Accounting Services, Inc., Shareholder Services, Inc., Oppenheimer Real Asset Management
Officer (since 1999) Corporation, and Oppenheimer Partnership Holdings, Inc. (since March 1999), OFI
Age: 46 Private Investments, Inc. (since March 2000), OppenheimerFunds International Ltd.
(since May 2000), OppenheimerFunds plc (since May 2000), OFI Institutional Asset
Management, Inc. (since November 2000), and OppenheimerFunds Legacy Program
(charitable trust program estab-lished by the Manager) (since June 2003);
Treasurer and Chief Financial Officer of OFI Trust Company (trust company
subsidiary of the Manager) (since May 2000); Assistant Treasurer of the
following: OAC (since March 1999), Centennial Asset Management Corporation (March
1999-October 2003) and OppenheimerFunds Legacy Program (April 2000-June 2003);
Principal and Chief Operating Officer of Bankers Trust Company-Mutual Fund
Services Division (March 1995-March 1999). An officer of 91 portfolios in the
OppenheimerFunds complex.
ROBERT G. ZACK, Executive Vice President (since January 2004) and General Counsel (since March
Secretary (since 2001) 2002) of the Manager; General Counsel and Director of the Distributor (since
Age: 58 December 2001); General Counsel of Centennial Asset Management Corporation (since
December 2001); Senior Vice President and General Counsel of HarbourView Asset
Management Corporation (since December 2001); Secretary and General Counsel of
OAC (since November 2001); Assistant Secretary (since September 1997) and
Director (since November 2001) of OppenheimerFunds International Ltd. and
OppenheimerFunds plc; Vice President and Director of Oppenheimer Partnership
Holdings, Inc. (since December 2002); Director of Oppenheimer Real Asset
Management, Inc. (since November 2001); Senior Vice President, General Counsel
and Director of Shareholder Financial Services, Inc. and Shareholder Services,
Inc. (since December 2001); Senior Vice President, General Counsel and Director
of OFI Private Investments, Inc. and OFI Trust Company (since November 2001);
Vice President of OppenheimerFunds Legacy Program (since June 2003); Senior Vice
President and General Counsel of OFI Institutional Asset Management, Inc. (since
November 2001); Director of OppenheimerFunds (Asia) Limited (since December
2003); Senior Vice President (May 1985-December 2003), Acting General Counsel
(November 2001-February 2002) and Associate General Counsel (May 1981-October
2001) of the Manager; Assistant Secretary of the following: Shareholder Services,
Inc. (May 1985-November 2001), Shareholder Financial Services, Inc. (November
1989-November 2001), and OppenheimerFunds International Ltd. (September
1997-November 2001). An officer of 91 portfolios in the OppenheimerFunds complex.
THE FUND'S STATEMENT OF ADDITIONAL INFORMATION CONTAINS ADDITIONAL INFORMATION
ABOUT THE FUND'S DIRECTORS AND OFFICERS AND IS AVAILABLE WITHOUT CHARGE UPON
REQUEST, BY CALLING 1.800.525.7048.
32 | OPPENHEIMER MONEY MARKET FUND, INC.
ITEM 2. CODE OF ETHICS.
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.
ITEM 3. AUDIT COMMITTEE FINANCIAL EXPERT.
The Board of Directors of the registrant has determined that the registrant does
not have an audit committee financial expert serving on its Audit Committee. In
this regard, no member of the Audit Committee was identified as having all of
the technical attributes identified in Instruction 2(b) to Item 3 of Form N-CSR
to qualify as an "audit committee financial expert," whether
through the type of specialized education or experience described in that
Instruction. The Board has concluded that while the members of the Audit
Committee collectively have the necessary attributes and experience required to
serve effectively as an Audit Committee, no single member possesses all of the
required technical attributes through the particular methods of education or
experience set forth in the Instructions to be designated as an audit committee
financial expert.
ITEM 4. PRINCIPAL ACCOUNTANT FEES AND SERVICES.
(a) Audit Fees
The principal accountant for the audit of the registrant's annual financial
statements billed $38,000 in fiscal 2006 and $38,000 in fiscal 2005.
(b) Audit-Related Fees
The principal accountant for the audit of the registrant's annual financial
statements billed no such fees during the last two fiscal years.
The principal accountant for the audit of the registrant's annual financial
statements billed $87,615 in fiscal 2006 and $142,059 in fiscal 2005 to the
registrant's investment adviser or any entity controlling, controlled by, or
under common control with the adviser that provides ongoing services to the
registrant.
Such services include: internal control reviews.
(c) Tax Fees
The principal accountant for the audit of the registrant's annual financial
statements billed no such fees to the registrant during the last two fiscal
years.
The principal accountant for the audit of the registrant's annual financial
statements billed no such fees in fiscal 2006 and $5,000 in fiscal 2005 to the
registrant's investment adviser or any entity controlling, controlled by, or
under common control with the adviser that provides ongoing services to the
registrant.
Such services include: Filling out form 5500.
(d) All Other Fees
The principal accountant for the audit of the registrant's annual financial
statements billed no such fees during the last two fiscal years.
The principal accountant for the audit of the registrant's annual financial
statements billed no such fees during the last two fiscal years to the
registrant's investment adviser or any entity
controlling, controlled by, or under common control with the adviser that
provides ongoing services to the registrant.
(e) (1) During its regularly scheduled periodic meetings, the registrant's
audit committee will pre-approve all audit, audit-related, tax and other
services to be provided by the principal accountants of the registrant.
The audit committee has delegated pre-approval authority to its Chairman
for any subsequent new engagements that arise between regularly scheduled
meeting dates provided that any fees such pre-approved are presented to
the audit committee at its next regularly scheduled meeting.
Under applicable laws, pre-approval of non-audit services maybe waived
provided that: 1) the aggregate amount of all such services provided
constitutes no more than five percent of the total amount of fees paid by
the registrant to it principal accountant during the fiscal year in which
services are provided 2) such services were not recognized by the
registrant at the time of engagement as non-audit services and 3) such
services are promptly brought to the attention of the audit committee of
the registrant and approved prior to the completion of the audit.
(2) 100%
(f) Not applicable as less than 50%.
(g) The principal accountant for the audit of the registrant's annual
financial statements billed $12,615 in fiscal 2006 and $147,059 in fiscal
2005 to the registrant and the registrant's investment adviser or any
entity controlling, controlled by, or under common control with the
adviser that provides ongoing services to the registrant related to
non-audit fees. Those billings did not include any prohibited non-audit
services as defined by the Securities Exchange Act of 1934.
(h) No such services were rendered.
ITEM 5. AUDIT COMMITTEE OF LISTED REGISTRANTS
Not applicable.
ITEM 6. SCHEDULE OF INVESTMENTS.
Not applicable.
ITEM 7. DISCLOSURE OF PROXY VOTING POLICIES AND PROCEDURES FOR CLOSED-END
MANAGEMENT INVESTMENT COMPANIES.
Not applicable.
ITEM 8. PORTFOLIO MANAGERS OF CLOSED-END MANAGEMENT INVESTMENT COMPANIES.
Not applicable.
ITEM 9. PURCHASES OF EQUITY SECURITIES BY CLOSED-END MANAGEMENT INVESTMENT
COMPANY AND AFFILIATED PURCHASERS.
Not applicable.
ITEM 10. SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS.
THE FUND'S GOVERNANCE COMMITTEE PROVISIONS WITH RESPECT TO NOMINATIONS OF
DIRECTORS/TRUSTEES TO THE RESPECTIVE BOARDS
1. The Fund's Governance Committee (the "Committee") will evaluate potential
Board candidates to assess their qualifications. The Committee shall have
the authority, upon approval of the Board, to retain an executive search
firm to assist in this effort. The Committee may consider recommendations
by business and personal contacts of current Board members and by
executive search firms which the Committee may engage from time to time
and may also consider shareholder recommendations. The Committee may
consider the advice and recommendation of the Funds' investment manager
and its affiliates in making the selection.
2. The Committee shall screen candidates for Board membership. The Committee
has not established specific qualifications that it believes must be met
by a trustee nominee. In evaluating trustee nominees, the Committee
considers, among other things, an individual's background, skills, and
experience; whether the individual is an "interested person" as defined in
the Investment Company Act of 1940; and whether the individual would be
deemed an "audit committee financial expert" within the meaning of
applicable SEC rules. The Committee also considers whether the
individual's background, skills, and experience will complement the
background, skills, and experience of other nominees and will contribute
to the Board. There are no differences in the manner in which the
Committee evaluates nominees for trustees based on whether the nominee is
recommended by a shareholder.
3. The Committee may consider nominations from shareholders for the Board at
such times as the Committee meets to consider new nominees for the Board.
The Committee shall have the
sole discretion to determine the candidates to present to the Board and,
in such cases where required, to shareholders. Recommendations for trustee
nominees should, at a minimum, be accompanied by the following:
o the name, address, and business, educational, and/or other pertinent
background of the person being recommended;
o a statement concerning whether the person is an "interested person"
as defined in the Investment Company Act of 1940;
o any other information that the Funds would be required to include in
a proxy statement concerning the person if he or she was nominated;
and
o the name and address of the person submitting the recommendation
and, if that person is a shareholder, the period for which that
person held Fund shares.
The recommendation also can include any additional information which the
person submitting it believes would assist the Committee in evaluating the
recommendation.
4. Shareholders should note that a person who owns securities issued by
Massachusetts Mutual Life Insurance Company (the parent company of the
Funds' investment adviser) would be deemed an "interested person" under
the Investment Company Act of 1940. In addition, certain other
relationships with Massachusetts Mutual Life Insurance Company or its
subsidiaries, with registered broker-dealers, or with the Funds' outside
legal counsel may cause a person to be deemed an "interested person."
5. Before the Committee decides to nominate an individual as a trustee,
Committee members and other directors customarily interview the individual
in person. In addition, the individual customarily is asked to complete a
detailed questionnaire which is designed to elicit information which must
be disclosed under SEC and stock exchange rules and to determine whether
the individual is subject to any statutory disqualification from serving
as a trustee of a registered investment company.
ITEM 11. CONTROLS AND PROCEDURES.
Based on their evaluation of the registrant's disclosure controls and procedures
(as defined in rule 30a-3(c) under the Investment Company Act of 1940 (17 CFR
270.30a-3(c)) as of 07/31/2006, the registrant's principal executive officer and
principal financial officer found the registrant's disclosure controls and
procedures to provide reasonable assurances that information required to be
disclosed by the registrant in the reports that it files under the Securities
Exchange Act of 1934 (a) is accumulated and communicated to registrant's
management, including its principal executive officer and principal financial
officer, to allow timely decisions regarding required disclosure, and (b) is
recorded, processed, summarized and reported, within the time periods specified
in the rules and forms adopted by the U.S. Securities and Exchange Commission.
There have been no changes in the registrant's internal controls over financial
reporting that occurred during the registrant's second fiscal quarter of 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 12. EXHIBITS.
(a) (1) Exhibit attached hereto.
(2) Exhibits attached hereto.
(3) Not applicable.
(b) Exhibit attached hereto.
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.
Oppenheimer Money Market Fund, Inc.
By: /S/ JOHN V. MURPHY
----------------------------
John V. Murphy
Principal Executive Officer
Date: 09/14/2006
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/ JOHN V. MURPHY
----------------------------
John V. Murphy
Principal Executive Officer
Date: 09/14/2006
By: /S/ BRIAN W. WIXTED
----------------------------
Brian W. Wixted
Principal Financial Officer
Date: 09/14/2006