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 811-02945
CENTENNIAL MONEY MARKET TRUST
(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: JUNE 30
Date of reporting period: 06/30/2007
ITEM 1. REPORTS TO STOCKHOLDERS.
FUND EXPENSES
- --------------------------------------------------------------------------------
FUND EXPENSES. As a shareholder of the Trust, you incur ongoing costs, including
management fees; service fees and other Trust expenses. These examples are
intended to help you understand your ongoing costs (in dollars) of investing in
the Trust 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 June 30, 2007.
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, 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 Trust's actual expense ratio, and an assumed rate of
return of 5% per year before expenses, which is not the Trust'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 Trust 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.
5 | CENTENNIAL MONEY MARKET TRUST
FUND EXPENSES Continued
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- --------------------------------------------------------------------------------
BEGINNING ENDING EXPENSES
ACCOUNT ACCOUNT PAID DURING
VALUE VALUE 6 MONTHS ENDED
(1/1/07) (6/30/07) JUNE 30, 2007
- -----------------------------------------------------------------------
Actual $1,000.00 $1,023.60 $3.32
- -----------------------------------------------------------------------
Hypothetical 1,000.00 1,021.52 3.31
Hypothetical assumes 5% annual return before expenses.
Expenses are equal to the Trust's annualized expense ratio, multiplied by the
average account value over the period, multiplied by 181/365 (to reflect the
one-half year period). The annualized expense ratio based on the 6-month period
ended June 30, 2007 is as follows:
EXPENSE RATIO
- -------------
0.66%
The expense ratio reflects reduction to custodian fees. The "Financial
Highlights" tables in the Trust's financial statements, included in this report,
also show the gross expense ratio, without such waivers or reimbursements.
- --------------------------------------------------------------------------------
6 | CENTENNIAL MONEY MARKET TRUST
STATEMENT OF INVESTMENTS June 30, 2007
- --------------------------------------------------------------------------------
PRINCIPAL VALUE
AMOUNT SEE NOTE 1
- --------------------------------------------------------------------------------
CERTIFICATES OF DEPOSIT--17.3%
- --------------------------------------------------------------------------------
Abbey National
Treasury Services
plc, Stamford CT,
5.30%, 8/1/07 $ 190,000,000 $ 190,000,000
- --------------------------------------------------------------------------------
Bank of Nova Scotia,
5.29%, 7/6/07 50,000,000 49,999,893
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Barclays Bank plc,
New York,
5.30%, 7/23/07 298,000,000 298,000,000
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BNP Paribas,
New York,
5.265%, 7/2/07 1 120,000,000 119,999,916
- --------------------------------------------------------------------------------
Calyon, New York:
5.26%, 7/2/07 1 250,000,000 249,999,717
5.30%, 9/13/07 1 145,000,000 144,991,704
- --------------------------------------------------------------------------------
Canadian Imperial
Bank of Commerce
NY:
5.30%, 7/13/07 200,000,000 200,000,000
5.30%, 8/3/07 75,000,000 75,000,000
- --------------------------------------------------------------------------------
Citibank NA:
5.30%, 7/25/07 94,000,000 94,000,000
5.30%, 8/2/07 250,000,000 250,000,000
5.30%, 8/3/07 150,000,000 150,000,000
5.30%, 8/9/07 75,000,000 75,000,000
5.30%, 8/10/07 49,000,000 49,000,000
5.305%, 8/22/07 100,000,000 100,000,000
5.32%, 9/21/07 35,000,000 35,000,000
- --------------------------------------------------------------------------------
Fortis Bank SA/NV,
New York, 5.30%,
8/15/07 100,000,000 100,000,000
- --------------------------------------------------------------------------------
M&I Marshall &
Ilsley Bank, 5.295%,
7/16/07 175,000,000 174,999,640
- --------------------------------------------------------------------------------
Skandinaviska
Enskilda Banken,
New York:
5.28%, 7/5/07 1 50,000,000 49,999,886
5.30%, 8/16/07 320,000,000 320,000,000
- --------------------------------------------------------------------------------
Societe Generale,
New York, 5.30%,
7/30/07 150,000,000 150,000,000
- --------------------------------------------------------------------------------
Svenska
Handelsbanken NY:
5.30%, 7/20/07 77,500,000 77,500,000
PRINCIPAL VALUE
AMOUNT SEE NOTE 1
- --------------------------------------------------------------------------------
CERTIFICATES OF DEPOSIT Continued
- --------------------------------------------------------------------------------
Svenska
Handelsbanken
NY: Continued
5.305%, 8/9/07 $ 50,000,000 $ 50,000,267
- --------------------------------------------------------------------------------
Toronto Dominion
Bank, New York,
5.32%, 9/24/07 222,500,000 222,500,000
- --------------------------------------------------------------------------------
UBS AG, Stamford
CT, 5.295%,
7/16/07 159,300,000 159,300,000
- --------------------------------------------------------------------------------
Washington
Mutual Bank FA,
5.30%, 8/6/07 369,500,000 369,500,000
-----------------
Total Certificates of Deposit
(Cost $3,754,791,023) 3,754,791,023
- --------------------------------------------------------------------------------
DIRECT BANK OBLIGATIONS--25.2%
- --------------------------------------------------------------------------------
Abbey National
plc, 5.23%,
7/31/07 104,000,000 103,546,733
- --------------------------------------------------------------------------------
ABN AMRO
North America
Finance, Inc.:
5.23%, 8/6/07 14,500,000 14,424,165
5.23%, 8/13/07 90,000,000 89,437,775
5.23%, 8/16/07 233,400,000 231,840,240
- --------------------------------------------------------------------------------
Barclays US
Funding LLC:
5.23%, 7/13/07 150,000,000 149,738,500
5.245%, 9/7/07 76,000,000 75,247,051
- --------------------------------------------------------------------------------
Danske Corp.,
5.235%,
9/11/07 2 41,400,000 40,966,542
- --------------------------------------------------------------------------------
Deutsche Bank
Financial LLC:
5.23%, 7/20/07 180,000,000 179,503,150
5.27%, 7/5/07 150,000,000 149,912,167
- --------------------------------------------------------------------------------
Dexia Delaware
LLC:
5.225%, 8/10/07 250,000,000 248,548,611
5.245%, 9/18/07 95,000,000 93,906,563
- --------------------------------------------------------------------------------
DnB NOR
Bank ASA:
5.23%, 7/11/07 220,000,000 219,680,389
5.23%, 7/12/07 187,000,000 186,701,164
5.24%, 9/12/07 9,250,000 9,151,714
7 | CENTENNIAL MONEY MARKET TRUST
STATEMENT OF INVESTMENTS Continued
- --------------------------------------------------------------------------------
PRINCIPAL VALUE
AMOUNT SEE NOTE 1
- --------------------------------------------------------------------------------
DIRECT BANK OBLIGATIONS Continued
- --------------------------------------------------------------------------------
Governor & Co.
of the Bank of
Ireland:
5.23%, 8/14/07 2 $ 150,000,00 $ 149,041,167
5.235%, 7/10/07 2 254,000,000 253,667,578
5.24%, 8/16/07 2 74,000,000 73,504,721
- --------------------------------------------------------------------------------
HBOS Treasury
Services:
5.23%, 8/3/07 100,000,000 99,520,583
5.235%, 8/14/07 12,700,000 12,618,741
5.235%, 8/23/07 47,959,000 47,589,376
5.25%, 9/17/07 60,000,000 59,317,500
- --------------------------------------------------------------------------------
HBOS Treasury
Services plc,
Sydney:
5.23%, 8/3/07 50,000,000 49,760,292
5.23%, 8/6/07 50,000,000 49,738,500
5.235%, 7/16/07 50,000,000 49,890,938
5.235%, 8/17/07 100,000,000 99,316,215
5.24%, 7/20/07 61,255,000 61,085,758
5.265%, 9/20/07 32,000,000 31,622,360
- --------------------------------------------------------------------------------
Marshall &
Ilsley Corp.:
5.24%, 7/16/07 35,000,000 34,923,583
5.24%, 7/31/07 30,000,000 29,869,000
5.24%, 8/3/07 35,000,000 34,831,883
5.26%, 9/21/07 13,500,000 13,338,255
- --------------------------------------------------------------------------------
Nationwide
Building Society:
5.23%, 7/23/07 2 60,000,000 59,808,233
5.235%, 7/18/07 2 15,000,000 14,962,919
5.24%, 7/11/07 2 50,000,000 49,927,222
5.253%, 9/13/07 2 128,000,000 126,617,877
5.255%, 9/24/07 2 50,000,000 49,379,618
5.478%, 7/20/07 1,3 63,160,000 63,164,804
- --------------------------------------------------------------------------------
Scotiabanc, Inc.,
5.275%, 9/27/07 2 133,000,000 131,285,039
- --------------------------------------------------------------------------------
Skandinaviska
Enskilda Banken,
New York,
5.21%, 10/9/07 2 75,000,000 73,914,583
- --------------------------------------------------------------------------------
Societe Generale
North America,
5.23%, 7/11/07 65,000,000 64,905,569
PRINCIPAL VALUE
AMOUNT SEE NOTE 1
- --------------------------------------------------------------------------------
DIRECT BANK OBLIGATIONS Continued
- --------------------------------------------------------------------------------
St. George Bank
Ltd.:
5.24%, 7/11/07 2 $ 100,000,000 $ 99,854,444
5.25%, 9/4/07 2 58,000,000 57,450,208
5.25%, 9/6/07 2 164,800,000 163,189,767
5.43%, 7/5/07 2 20,997,000 20,984,332
- --------------------------------------------------------------------------------
Stadshypotek
Delaware, Inc.:
5.23%, 7/5/07 2 50,000,000 49,970,944
5.23%, 7/27/07 2 50,000,000 49,811,139
5.245%, 9/10/07 2 50,000,000 49,482,785
- --------------------------------------------------------------------------------
Suntrust Bank,
5.429%, 4/2/08 1 38,430,000 38,461,064
- --------------------------------------------------------------------------------
Svenska
Handelsbanken,
Inc., Series S, 5.23%,
8/6/07 31,150,000 30,987,086
- --------------------------------------------------------------------------------
Swedbank AB:
5.23%, 8/17/07 132,000,000 131,098,697
5.24%, 9/6/07 80,000,000 79,219,822
- --------------------------------------------------------------------------------
Swedbank
Mortgage AB,
5.23%, 8/9/07 204,000,000 202,844,170
- --------------------------------------------------------------------------------
UBS Finance
(Delaware) LLC:
5.23%, 7/23/07 49,000,000 48,843,391
5.23%, 7/24/07 17,500,000 17,441,526
5.23%, 8/2/07 254,000,000 252,819,182
5.23%, 8/3/07 21,500,000 21,396,925
5.23%, 8/6/07 259,500,000 258,142,815
5.23%, 8/9/07 9,000,000 8,949,008
5.24%, 7/16/07 95,000,000 94,792,583
- --------------------------------------------------------------------------------
Wachovia Bank
NA, 5.35%,
6/27/08 1 43,850,000 43,857,851
- --------------------------------------------------------------------------------
Westpac Banking
Corp.:
5.23%, 7/2/07 2 30,000,000 29,995,642
5.23%, 7/5/07 2 47,000,000 46,972,688
5.23%, 7/9/07 2 81,435,000 81,340,354
-----------------
Total Direct Bank Obligations
(Cost $5,454,113,501) 5,454,113,501
8 | CENTENNIAL MONEY MARKET TRUST
PRINCIPAL VALUE
AMOUNT SEE NOTE 1
- --------------------------------------------------------------------------------
SHORT-TERM NOTES--57.5%
- --------------------------------------------------------------------------------
ASSET-BACKED SECURITIES--24.9%
Amsterdam
Funding Corp.:
5.245%, 7/13/07 2 $ 30,000,000 $ 29,947,550
5.28%, 7/2/07 2 6,300,000 6,299,081
5.285%, 7/20/07 2 19,000,000 18,947,003
5.34%, 7/3/07 2 35,000,000 34,989,617
- --------------------------------------------------------------------------------
Aquinas Funding
LLC, 5.31%,
7/27/07 2 100,000,000 99,616,500
- --------------------------------------------------------------------------------
Barton Capital
Corp.:
5.27%, 7/25/07 2 97,534,000 97,191,331
5.30%, 7/6/07 2 179,873,000 179,740,593
5.31%, 7/19/07 2 50,632,000 50,497,572
5.40%, 7/13/07 2 33,281,000 33,222,204
- --------------------------------------------------------------------------------
Chesham Finance
LLC:
5.27%, 7/12/07 90,000,000 89,855,075
5.27%, 9/12/07 185,000,000 183,023,018
5.28%, 9/4/07 44,000,000 43,580,533
5.29%, 7/20/07 80,000,000 79,776,644
5.295%, 9/13/07 40,100,000 39,663,545
- --------------------------------------------------------------------------------
Concord
Minutemen
Capital Co. LLC:
5.24%, 8/13/07 40,000,000 39,749,644
5.24%, 8/20/07 120,242,000 119,366,905
5.26%, 7/12/07 131,003,000 130,792,449
5.28%, 7/18/07 70,000,000 69,825,467
- --------------------------------------------------------------------------------
Crown Point
Capital Co.:
5.26%, 7/11/07 76,739,000 76,626,876
5.31%, 7/12/07 5,400,000 5,391,239
- --------------------------------------------------------------------------------
Fairway
Finance Corp.:
5.28%, 7/19/07 2 113,812,000 113,511,536
5.29%, 7/5/07 2 100,346,000 100,287,019
5.30%, 7/6/07 2 82,763,000 82,702,106
5.30%, 7/9/07 2 91,358,000 91,250,401
- --------------------------------------------------------------------------------
FCAR Owner
Trust I:
5.25%, 7/19/07 45,000,000 44,881,875
5.25%, 8/15/07 50,000,000 49,671,875
5.27%, 9/21/07 67,000,000 66,200,113
PRINCIPAL VALUE
AMOUNT SEE NOTE 1
- --------------------------------------------------------------------------------
ASSET-BACKED SECURITIES Continued
FCAR Owner
Trust II:
5.25%, 7/26/07 $ 100,000,000 $ 99,635,417
5.27%, 9/21/07 35,000,000 34,579,864
5.27%, 9/26/07 29,200,000 28,828,114
5.31%, 7/19/07 107,000,000 106,719,125
- --------------------------------------------------------------------------------
Gemini
Securitization
Corp.:
5.24%, 7/10/07 2 50,000,000 49,934,500
5.245%, 8/27/07 2 138,000,000 136,853,967
5.25%, 9/5/07 2 45,422,000 44,984,813
5.255%, 7/5/07 2 15,500,000 15,490,950
5.27%, 7/9/07 2 42,196,000 42,146,584
5.28%, 7/3/07 2 63,500,000 63,481,373
5.28%, 8/13/07 2 22,600,000 22,457,469
- --------------------------------------------------------------------------------
Gotham
Funding Corp.:
5.29%, 7/12/07 2 155,000,000 154,749,460
5.30%, 7/3/07 2 14,392,000 14,387,762
5.41%, 7/5/07 2 25,956,000 25,940,398
- --------------------------------------------------------------------------------
GOVCO, Inc.:
5.23%, 7/2/07 2 47,022,000 47,015,169
5.24%, 7/12/07 2 87,000,000 86,860,703
5.24%, 7/17/07 2 21,500,000 21,449,929
5.24%, 8/13/07 2 61,500,000 61,115,326
5.24%, 8/20/07 2 35,000,000 34,745,278
5.25%, 9/7/07 2 55,000,000 54,454,583
5.26%, 9/13/07 2 63,000,000 62,318,830
5.27%, 9/25/07 2 23,000,000 22,710,443
- --------------------------------------------------------------------------------
Legacy
Capital LLC:
5.30%, 8/13/07 70,842,000 70,393,531
5.32%, 7/18/07 298,902,000 298,152,981
- --------------------------------------------------------------------------------
Lexington Parker
Capital Co. LLC:
5.24%, 7/10/07 2 215,880,000 215,597,076
5.24%, 8/17/07 2 15,703,000 15,595,574
5.26%, 10/18/07 2 180,000,000 177,133,300
5.31%, 7/23/07 2 36,041,000 35,924,047
- --------------------------------------------------------------------------------
Perry Global
Funding LLC,
Series A:
5.24%, 7/18/07 2 43,853,000 43,744,488
5.24%, 8/29/07 2 23,352,000 23,151,458
5.26%, 9/21/07 2 141,066,000 139,375,873
5.26%, 9/26/07 2 72,127,000 71,210,146
5.27%, 10/5/07 2 36,000,000 35,494,080
9 | CENTENNIAL MONEY MARKET TRUST
STATEMENT OF INVESTMENTS Continued
- --------------------------------------------------------------------------------
PRINCIPAL VALUE
AMOUNT SEE NOTE 1
- --------------------------------------------------------------------------------
ASSET-BACKED SECURITIES Continued
Saint Germain
Holdings, Inc.:
5.29%, 7/9/07 3 $ 65,000,000 $ 64,923,589
5.31%, 7/26/07 3 30,000,000 29,889,375
5.31%, 7/27/07 3 50,000,000 49,807,889
5.32%, 7/20/07 3 50,000,000 49,859,611
5.33%, 7/6/07 3 84,000,000 83,938,000
5.34%, 7/23/07 3 68,800,000 68,575,483
5.35%, 7/24/07 3 48,795,000 48,628,216
5.36%, 7/17/07 3 48,000,000 47,885,653
- --------------------------------------------------------------------------------
Solitaire Funding
LLC:
5.30%, 7/13/07 2 50,000,000 49,911,667
5.30%, 7/16/07 2 50,000,000 49,889,583
- --------------------------------------------------------------------------------
Victory
Receivables Corp.:
5.26%, 7/13/07 2 40,000,000 39,929,867
5.30%, 7/20/07 2 117,501,000 117,173,076
5.35%, 7/9/07 2 10,753,000 10,740,216
- --------------------------------------------------------------------------------
Windmill
Funding Corp.:
5.26%, 7/2/07 2 25,000,000 24,996,347
5.26%, 7/5/07 2 38,000,000 37,977,791
5.26%, 7/6/07 2 22,000,000 21,983,928
5.26%, 7/20/07 2 82,750,000 82,520,277
- --------------------------------------------------------------------------------
Yorktown
Capital LLC:
5.26%, 7/24/07 2 50,000,000 49,831,972
5.26%, 7/25/07 2 36,325,000 36,197,620
5.285%, 8/29/07 2 112,186,000 111,214,298
-----------------
5,409,114,840
- --------------------------------------------------------------------------------
BEVERAGES--0.1%
Better Brands of
South Georgia
LLP, Series 2003,
5.35%, 7/1/07 1 11,350,000 11,350,000
- --------------------------------------------------------------------------------
CAPITAL MARKETS--3.3%
Banc of America
Securities LLC,
5.32%, 7/2/07 1 180,000,000 180,000,000
- --------------------------------------------------------------------------------
Bank of America
Corp., 5.25%,
9/28/07 25,000,000 24,675,521
PRINCIPAL VALUE
AMOUNT SEE NOTE 1
- --------------------------------------------------------------------------------
CAPITAL MARKETS Continued
BNP Paribas
Finance Inc.,
5.26%, 8/24/07 $ 24,325,000 $ 24,133,076
- --------------------------------------------------------------------------------
BNP Paribas
Finance, Inc.,
5.22%, 7/6/07 36,400,000 36,373,610
- --------------------------------------------------------------------------------
Lehman Brothers,
Inc., 5.50%, 7/2/07 1 43,000,000 43,000,000
- --------------------------------------------------------------------------------
Merrill Lynch &
Co., Inc., Series C:
5.47%, 8/27/07 1 70,000,000 70,014,292
5.485%, 10/19/07 1 50,000,000 50,022,655
- --------------------------------------------------------------------------------
Morgan Stanley,
5.23%, 8/3/07 301,000,000 299,556,956
-----------------
727,776,110
- --------------------------------------------------------------------------------
CHEMICALS--1.0%
BASF AG:
5.24%, 8/21/07 2 43,800,000 43,474,858
5.245%, 8/17/07 2 171,400,000 170,226,315
-----------------
213,701,173
- --------------------------------------------------------------------------------
COMMERCIAL BANKS--5.2%
Bank of
America Corp.:
5.225%, 7/30/07 70,000,000 69,705,368
5.23%, 8/10/07 16,800,000 16,702,373
5.235%, 8/17/07 60,000,000 59,589,925
5.24%, 8/28/07 61,000,000 60,485,024
5.245%, 9/10/07 50,000,000 49,482,785
5.245%, 9/14/07 62,500,000 61,817,057
5.26%, 9/27/07 214,000,000 211,248,436
- --------------------------------------------------------------------------------
HSBC Bank USA,
5.43%, 9/21/07 1 50,000,000 50,010,952
- --------------------------------------------------------------------------------
HSBC USA, Inc.:
5.23%, 7/6/07 88,500,000 88,435,715
5.23%, 7/9/07 50,000,000 49,941,889
5.23%, 8/15/07 60,000,000 59,607,750
5.235%, 7/13/07 140,000,000 139,755,700
5.26%, 9/28/07 39,500,000 38,986,346
- --------------------------------------------------------------------------------
J.P. Morgan Chase
& Co., 5.23%,
8/24/07 2 166,000,000 164,697,730
-----------------
1,120,467,050
10 | CENTENNIAL MONEY MARKET TRUST
PRINCIPAL VALUE
AMOUNT SEE NOTE 1
- --------------------------------------------------------------------------------
COMMERCIAL FINANCE--0.4%
Caterpillar Financial
Services Corp.,
Series F, 5.357%,
4/17/08 1 $ 35,000,000 $ 35,007,909
- --------------------------------------------------------------------------------
Private Export
Funding Corp.,
5.23%, 7/12/07 2 12,000,000 11,980,823
- --------------------------------------------------------------------------------
SDB Capital LLC,
Series 2006A,
5.36%, 7/2/07 1 31,215,000 31,215,000
-----------------
78,203,732
- --------------------------------------------------------------------------------
DIVERSIFIED FINANCIAL SERVICES--7.0%
General Electric
Capital Corp.:
5.225%, 7/30/07 95,204,000 94,803,284
5.24%, 9/14/07 344,000,000 340,244,667
- --------------------------------------------------------------------------------
General Electric
Capital Services,
5.24%, 9/14/07 200,000,000 197,816,667
- --------------------------------------------------------------------------------
Greenwich Capital
Holdings, Inc.:
5.235%, 9/7/07 50,000,000 49,505,583
5.25%, 9/19/07 100,000,000 98,833,333
5.525%, 11/15/07 1 170,000,000 170,000,000
- --------------------------------------------------------------------------------
HSBC Finance
Corp.:
5.23%, 7/11/07 128,500,000 128,313,318
5.23%, 8/10/07 145,500,000 144,654,483
5.26%, 9/17/07 123,000,000 121,598,210
- --------------------------------------------------------------------------------
Prudential Funding
LLC, 5.24%,
8/15/07 4 170,000,000 168,886,500
-----------------
1,514,656,045
- --------------------------------------------------------------------------------
ENERGY EQUIPMENT & SERVICES--0.1%
Mississippi Business
Finance Corp.
Revenue Bonds,
Signal International
LLC Project,
Series 2004A,
5.32%, 7/2/07 1 13,400,000 13,400,000
PRINCIPAL VALUE
AMOUNT SEE NOTE 1
- --------------------------------------------------------------------------------
FOOD PRODUCTS--0.2%
Nestle Capital
Corp., 5.40%,
7/2/07 2 $ 54,000,000 $ 53,991,900
- --------------------------------------------------------------------------------
HEALTH CARE PROVIDERS & SERVICES--0.1%
BRCH Corp., Series
1999, 5.35%,
7/2/07 1 8,000,000 8,000,000
- --------------------------------------------------------------------------------
Heart Property LLC,
Series 2001, 5.38%,
7/2/07 1 6,470,000 6,470,000
-----------------
14,470,000
- --------------------------------------------------------------------------------
INSURANCE--2.1%
ING America
Insurance Holdings,
Inc.:
5.23%, 7/25/07 50,000,000 49,825,667
5.23%, 7/30/07 94,575,000 94,176,349
5.23%, 8/9/07 33,900,000 33,707,928
5.235%, 7/13/07 40,000,000 39,930,200
5.24%, 7/16/07 33,000,000 32,927,950
5.245%, 9/5/07 26,000,000 25,749,988
5.255%, 9/6/07 43,421,000 42,996,337
5.26%, 9/19/07 11,000,000 10,871,422
- --------------------------------------------------------------------------------
Jackson National
Life Global Funding,
Series 2004-6,
5.41%, 7/16/07 1,4 50,000,000 50,000,000
- --------------------------------------------------------------------------------
Metropolitan Life
Global Funding I,
Series 2003-5,
5.41%, 7/16/07 1,4 69,400,000 69,400,000
-----------------
449,585,841
- --------------------------------------------------------------------------------
LEASING & FACTORING--1.7%
American Honda
Finance Corp.:
5.325%, 10/30/07 1,3 30,000,000 30,000,000
5.327%, 11/9/07 1,3 50,000,000 50,000,000
5.33%, 9/26/07 1,3 65,000,000 65,000,000
5.33%, 12/6/07 1,3 140,000,000 140,000,000
5.36%, 2/13/08 1,3 25,000,000 25,004,555
5.375%, 1/23/08 1,3 20,000,000 20,005,290
5.465%, 10/22/07 1,3 20,000,000 20,008,439
- --------------------------------------------------------------------------------
MRN Ltd.
Partnership, 5.38%,
7/2/07 1 9,600,000 9,600,000
11 | CENTENNIAL MONEY MARKET TRUST
STATEMENT OF INVESTMENTS Continued
- --------------------------------------------------------------------------------
PRINCIPAL VALUE
AMOUNT SEE NOTE 1
- --------------------------------------------------------------------------------
LEASING & FACTORING Continued
South Elgin Leasing,
Inc., 5.38%,
7/2/07 1 $ 8,655,000 $ 8,655,000
-----------------
368,273,284
- --------------------------------------------------------------------------------
METALS & MINING--0.3%
Rio Tinto
Ltd.:
5.29%, 7/16/07 2 25,929,000 25,871,848
5.30%, 7/10/07 2 40,148,000 40,094,804
5.33%, 7/9/07 2 5,000,000 4,994,078
-----------------
70,960,730
- --------------------------------------------------------------------------------
MUNICIPAL--0.1%
City Parc at Golden
Triangle Ltd.
Partnership, 5.34%,
7/5/07 1 5,525,000 5,525,000
- --------------------------------------------------------------------------------
Intrepid Museum
Foundation, 5.34%,
7/2/07 1 7,080,000 7,080,000
- --------------------------------------------------------------------------------
Okolona Christian
Church Project,
Series 2002, 5.38%,
7/2/07 1 6,756,000 6,756,000
- --------------------------------------------------------------------------------
Sugar Creek
Finance Co. LLC,
5.38%, 7/1/07 1 8,050,000 8,050,000
-----------------
27,411,000
- --------------------------------------------------------------------------------
PERSONAL PRODUCTS--2.3%
Procter & Gamble
International
Funding SCA:
5.245%, 9/10/07 2 137,000,000 135,582,830
5.25%, 9/13/07 2 175,000,000 173,111,458
5.25%, 9/21/07 2 55,000,000 54,342,292
5.26%, 9/20/07 2 35,000,000 34,586,563
5.26%, 9/28/07 2 10,000,000 9,869,961
- --------------------------------------------------------------------------------
Reckitt Benckiser
plc:
5.245%, 7/9/07 2 20,000,000 19,976,689
5.25%, 7/10/07 2 23,500,000 23,469,156
PRINCIPAL VALUE
AMOUNT SEE NOTE 1
- --------------------------------------------------------------------------------
PERSONAL PRODUCTS Continued
Reckitt Benckiser
plc: Continued
5.25%, 7/16/07 2 $ 9,910,000 $ 9,888,322
5.25%, 7/17/07 2 50,000,000 49,883,333
-----------------
510,710,604
- --------------------------------------------------------------------------------
REAL ESTATE--0.0%
D&H Enterprises
of Ohio LLC,
Series 2005, 5.38%,
7/2/07 1 6,795,000 6,795,000
- --------------------------------------------------------------------------------
SPECIAL PURPOSE FINANCIAL--8.7%
Carlyle Capital
Investment Ltd.,
CDO,
Series 2007-3A,
5.38%, 4/8/08 1,4 50,000,000 50,000,000
- --------------------------------------------------------------------------------
Cooperative Assn.
of Tractor Dealers,
Inc., Series B:
5.27%, 7/12/07 1,980,000 1,976,812
5.33%, 7/11/07 11,155,000 11,138,701
- --------------------------------------------------------------------------------
K2 (USA) LLC:
5.23%, 9/20/07 100,000,000 98,823,250
5.24%, 7/26/07 7,400,000 7,373,072
5.24%, 7/27/07 50,000,000 49,810,778
5.26%, 10/1/07 50,000,000 49,327,889
5.27%, 9/13/07 100,000,000 98,916,722
5.35%, 10/26/07 1,3 50,000,000 50,002,404
- --------------------------------------------------------------------------------
LINKS Finance LLC:
5.24%, 7/30/07 70,000,000 69,704,522
5.25%, 9/6/07 47,300,000 46,837,840
5.32%, 9/25/07 1,3 100,000,000 99,996,466
5.32%, 12/3/07 1 85,000,000 84,992,820
5.32%, 12/20/07 1,3 89,000,000 88,991,770
- --------------------------------------------------------------------------------
Parkland (USA)
LLC, 5.33%,
12/12/07 1,3 40,000,000 39,996,405
- --------------------------------------------------------------------------------
Premier Asset
Collateralized
Entity LLC, 5.30%,
9/17/07 1,3 100,000,000 100,000,000
12 | CENTENNIAL MONEY MARKET TRUST
PRINCIPAL VALUE
AMOUNT SEE NOTE 1
- --------------------------------------------------------------------------------
SPECIAL PURPOSE FINANCIAL Continued
RACERS Trust,
Series 2004-6-MM,
5.37%, 7/23/07 1 $ 156,500,000 $ 156,500,000
- --------------------------------------------------------------------------------
Sigma Finance, Inc.:
5.24%, 7/25/07 96,000,000 95,664,640
5.24%, 7/26/07 200,000,000 199,272,222
- --------------------------------------------------------------------------------
Ticonderoga
Funding LLC:
5.26%, 8/7/07 8,000,000 7,956,748
5.30%, 8/29/07 238,300,000 236,230,100
- --------------------------------------------------------------------------------
Union Hamilton
Special Purpose
Funding LLC,
5.36%, 9/28/07 1 100,000,000 100,000,000
- --------------------------------------------------------------------------------
Wachovia Asset
Securitization, Inc.,
Asset-Backed
Securities,
Series 2004-HM1A,
Cl. A, 5.31%,
7/25/07 1 20,656,073 20,655,918
- --------------------------------------------------------------------------------
ZAIS Levered Loan
Fund Ltd. CLO,
Series 2006-1A,
Cl. 1, 5.43%,
1/2/08 1,4 125,000,000 125,000,000
-----------------
1,889,169,079
-----------------
Total Short-Term Notes
(Cost $12,480,036,388) 12,480,036,388
VALUE
SEE NOTE 1
- --------------------------------------------------------------------------------
TOTAL INVESTMENTS,
AT VALUE
(COST $21,688,940,912) 100.0% $ 21,688,940,912
- --------------------------------------------------------------------------------
LIABILITIES IN
EXCESS OF
OTHER ASSETS -- (3,727,532)
-----------------------------------
NET ASSETS 100.0% $ 21,685,213,380
===================================
FOOTNOTES TO STATEMENT OF INVESTMENTS
SHORT-TERM NOTES AND DIRECT BANK OBLIGATIONS ARE GENERALLY TRADED ON A DISCOUNT
BASIS; THE INTEREST RATE SHOWN IS THE DISCOUNT RATE RECEIVED BY THE TRUST 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 $5,987,063,496, or 27.61% of
the Trust's net assets, and have been determined to be liquid pursuant to
guidelines adopted by the Board of Trustees.
3. 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
Trustees. These securities amount to $1,235,677,949 or 5.70% of the Trust's net
assets as of June 30, 2007.
4. Illiquid security. The aggregate value of illiquid securities as of June 30,
2007 was $463,286,500, which represents 2.14% of the Trust's net assets. See
Note 4 of accompanying Notes.
SEE ACCOMPANYING NOTES TO FINANCIAL STATEMENTS
13 | CENTENNIAL MONEY MARKET TRUST
STATEMENT OF ASSETS AND LIABILITIES June 30, 2007
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------------------------
ASSETS
- --------------------------------------------------------------------------------------------------
Investments, at value (cost $21,688,940,912)--see accompanying
statement of investments $21,688,940,912
- --------------------------------------------------------------------------------------------------
Cash 497,418
- --------------------------------------------------------------------------------------------------
Receivables and other assets:
Interest 38,007,208
Shares of beneficial interest sold 15,160
Other 711,478
----------------
Total assets 21,728,172,176
- --------------------------------------------------------------------------------------------------
LIABILITIES
- --------------------------------------------------------------------------------------------------
Payables and other liabilities:
Dividends 36,879,160
Transfer and shareholder servicing agent fees 2,399,848
Distribution and service plan fees 1,711,702
Shares of beneficial interest redeemed 832,484
Shareholder communications 806,169
Trustees' compensation 53,407
Other 276,026
----------------
Total liabilities 42,958,796
- --------------------------------------------------------------------------------------------------
NET ASSETS $21,685,213,380
================
- --------------------------------------------------------------------------------------------------
COMPOSITION OF NET ASSETS
- --------------------------------------------------------------------------------------------------
Paid-in capital $21,685,215,493
- --------------------------------------------------------------------------------------------------
Accumulated net realized loss on investments (2,113)
----------------
NET ASSETS--applicable to 21,685,675,464 shares of beneficial interest
outstanding $21,685,213,380
================
- --------------------------------------------------------------------------------------------------
NET ASSET VALUE, REDEMPTION PRICE PER SHARE AND OFFERING PRICE PER SHARE $ 1.00
SEE ACCOMPANYING NOTES TO FINANCIAL STATEMENTS.
14 | CENTENNIAL MONEY MARKET TRUST
STATEMENT OF OPERATIONS For the Year Ended June 30, 2007
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------------------------
INVESTMENT INCOME
- --------------------------------------------------------------------------------------------------
Interest $ 1,290,560,231
- --------------------------------------------------------------------------------------------------
EXPENSES
- --------------------------------------------------------------------------------------------------
Management fees 79,829,051
- --------------------------------------------------------------------------------------------------
Service plan fees 48,026,160
- --------------------------------------------------------------------------------------------------
Transfer and shareholder servicing agent fees 28,279,363
- --------------------------------------------------------------------------------------------------
Shareholder communications 587,753
- --------------------------------------------------------------------------------------------------
Trustees' compensation 110,249
- --------------------------------------------------------------------------------------------------
Custodian fees and expenses 44,278
- --------------------------------------------------------------------------------------------------
Administration service fees 1,500
- --------------------------------------------------------------------------------------------------
Other 2,555,876
----------------
Total expenses 159,434,230
Less reduction to custodian expenses (623)
----------------
Net expenses 159,433,607
- --------------------------------------------------------------------------------------------------
NET INVESTMENT INCOME 1,131,126,624
- --------------------------------------------------------------------------------------------------
NET REALIZED LOSS ON INVESTMENTS (2,115)
- --------------------------------------------------------------------------------------------------
NET INCREASE IN NET ASSETS RESULTING FROM OPERATIONS $ 1,131,124,509
================
SEE ACCOMPANYING NOTES TO FINANCIAL STATEMENTS.
15 | CENTENNIAL MONEY MARKET TRUST
STATEMENTS OF CHANGES IN NET ASSETS
- --------------------------------------------------------------------------------
YEAR ENDED JUNE 30, 2007 2006
- ------------------------------------------------------------------------------------------------------------------
OPERATIONS
- ------------------------------------------------------------------------------------------------------------------
Net investment income $ 1,131,126,624 $ 780,290,558
- ------------------------------------------------------------------------------------------------------------------
Net realized gain (loss) (2,115) 75,893
----------------------------------
Net increase in net assets resulting from operations 1,131,124,509 780,366,451
- ------------------------------------------------------------------------------------------------------------------
DIVIDENDS AND/OR DISTRIBUTIONS TO SHAREHOLDERS
- ------------------------------------------------------------------------------------------------------------------
Dividends from net investment income (1,131,126,624) (780,304,698)
- ------------------------------------------------------------------------------------------------------------------
Distributions from net realized gain (75,891) --
- ------------------------------------------------------------------------------------------------------------------
BENEFICIAL INTEREST TRANSACTIONS
- ------------------------------------------------------------------------------------------------------------------
Net increase (decrease) in net assets resulting from beneficial interest
transactions (738,730,924) 2,117,221,353
- ------------------------------------------------------------------------------------------------------------------
NET ASSETS
- ------------------------------------------------------------------------------------------------------------------
Total increase (decrease) (738,808,930) 2,117,283,106
- ------------------------------------------------------------------------------------------------------------------
Beginning of period 22,424,022,310 20,306,739,204
----------------------------------
End of period $21,685,213,380 $22,424,022,310
==================================
SEE ACCOMPANYING NOTES TO FINANCIAL STATEMENTS.
16 | CENTENNIAL MONEY MARKET TRUST
FINANCIAL HIGHLIGHTS
- --------------------------------------------------------------------------------
YEAR ENDED JUNE 30, 2007 2006 2005 2004 2003
- ------------------------------------------------------------------------------------------------
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 .05 1 .04 1 .02 1 .01 .01
- ------------------------------------------------------------------------------------------------
Dividends and/or distributions to
shareholders:
Dividends from net investment income (.05) (.04) (.02) (.01) (.01)
Distributions from net realized gain -- 2 -- -- -- -- 2
------------------------------------------------------
Total dividends and/or distributions
to shareholders (.05) (.04) (.02) (.01) (.01)
- ------------------------------------------------------------------------------------------------
Net asset value, end of period $ 1.00 $ 1.00 $ 1.00 $ 1.00 $ 1.00
======================================================
- ------------------------------------------------------------------------------------------------
TOTAL RETURN 3 4.80% 3.70% 1.59% 0.61% 1.20%
- ------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------
RATIOS/SUPPLEMENTAL DATA
- ------------------------------------------------------------------------------------------------
Net assets, end of period (in millions) $ 21,685 $ 22,424 $ 20,307 $ 21,191 $ 23,019
- ------------------------------------------------------------------------------------------------
Average net assets (in millions) $ 24,003 $ 21,527 $ 20,966 $ 22,509 $ 22,783
- ------------------------------------------------------------------------------------------------
Ratios to average net assets: 4
Net investment income 4.71% 3.62% 1.57% 0.61% 1.19%
Total expenses 0.66% 0.67% 0.68% 0.67% 0.66%
Expenses after payments, waivers
and/or reimbursements and reduction
to custodian expenses 0.66% 0.67% 0.68% 0.51% 0.40%
1. Per share amounts calculated based on the average shares outstanding during
the period.
2. Less than $0.005 per share.
3. Assumes an investment on the business day before the first day of the fiscal
period, with all dividends 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 less than one
full year. Returns do not reflect the deduction of taxes that a shareholder
would pay on trust distributions or the redemption of trust shares.
4. Annualized for periods less than one full year.
SEE ACCOMPANYING NOTES TO FINANCIAL STATEMENTS.
17 | CENTENNIAL MONEY MARKET TRUST
NOTES TO FINANCIAL STATEMENTS
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
1. SIGNIFICANT ACCOUNTING POLICIES
Centennial Money Market Trust (the Trust) is registered under the Investment
Company Act of 1940, as amended, as an open-end management investment company.
The Trust's investment objective is to seek the maximum current income that is
consistent with low capital risk and the maintenance of liquidity. The Trust's
investment advisor is Centennial Asset Management Corporation (the Manager), a
wholly owned subsidiary of OppenheimerFunds, Inc. (OFI).
The following is a summary of significant accounting policies consistently
followed by the Trust.
- --------------------------------------------------------------------------------
SECURITIES VALUATION. The net asset value of shares of the Trust is normally
determined twice each day, at 12:00 Noon Eastern time and at 4:00 P.M. Eastern
time on each day the New York Stock Exchange (the "Exchange") is open for
trading. As permitted under Rule 2a-7 of the Investment Company Act of 1940,
portfolio securities are valued on the basis of amortized cost, which
approximates market value. If amortized cost is determined not to approximate
market value, the fair value of the portfolio securities will be determined
under procedures approved by the Trust's Board of Trustees.
- --------------------------------------------------------------------------------
FEDERAL TAXES. The Trust 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 Trust must satisfy under the income tax regulations, losses the
Trust 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 GAINS CARRYFORWARD 1,2,3
--------------------------------------------------------
$ 36,960,821 $ -- $ 2,115
1. As of June 30, 2007, the Trust had $2,115 of net capital loss carryforwards
available to offset future realized capital gains, if any, and thereby reduce
future taxable gain distributions. As of June 30, 2007, details of the capital
loss carryforward were as follows:
EXPIRING
-------------------------
2015 $ 2,115
2. During the fiscal year ended June 30, 2007, the Trust did not utilize any
capital loss carryforward.
3. During the fiscal year ended June 30, 2006, the Trust 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 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 Trust.
18 | CENTENNIAL MONEY MARKET TRUST
The tax character of distributions paid during the years ended June 30, 2007 and
June 30, 2006 was as follows:
YEAR ENDED YEAR ENDED
JUNE 30, 2007 JUNE 30, 2006
-------------------------------------------------------------
Distributions paid from:
Ordinary income $ 1,131,202,515 $ 780,304,698
- --------------------------------------------------------------------------------
TRUSTEES' COMPENSATION. The Board of Trustees has adopted a compensation
deferral plan for independent trustees that enables trustees to elect to defer
receipt of all or a portion of the annual compensation they are entitled to
receive from the Trust. For purposes of determining the amount owed to the
Trustee under the plan, deferred amounts are treated as though equal dollar
amounts had been invested in shares of the Trust or in other Oppenheimer funds
selected by the Trustee. The Trust purchases shares of the funds selected for
deferral by the Trustee in amounts equal to his or her deemed investment,
resulting in a Trust 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 trustees' fees under the plan
will not affect the net assets of the Trust, and will not materially affect the
Trust's assets, liabilities or net investment income per share. Amounts will be
deferred until distributed in accordance to the compensation deferral 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 Trust on any cash overdrafts of its
custodian account during the period. Such cash overdrafts may result from the
effects of failed trades in portfolio securities and from cash outflows
resulting from unanticipated shareholder redemption activity. The Trust pays
interest to its custodian on such cash overdrafts, to the extent they are not
offset by positive cash balances maintained by the Trust, 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 Trust
during the period. Such interest expense and other custodian fees may be paid
with these earnings.
19 | CENTENNIAL MONEY MARKET TRUST
NOTES TO FINANCIAL STATEMENTS Continued
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
1. SIGNIFICANT ACCOUNTING POLICIES Continued
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 Trust's organizational documents provide current and
former trustees and officers with a limited indemnification against liabilities
arising in connection with the performance of their duties to the Trust. In the
normal course of business, the Trust may also enter into contracts that provide
general indemnifications. The Trust's maximum exposure under these arrangements
is unknown as this would be dependent on future claims that may be made against
the Trust. 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 BENEFICIAL INTEREST
The Trust has authorized an unlimited number of no par value shares of
beneficial interest. Transactions in shares of beneficial interest were as
follows:
YEAR ENDED JUNE 30, 2007 YEAR ENDED JUNE 30, 2006
SHARES AMOUNT SHARES AMOUNT
- ------------------------------------------------------------------------------------------------------
Sold 68,755,016,472 $ 68,755,016,472 66,530,186,460 $ 66,530,186,460
Dividends and/or
distributions reinvested 303,071,432 303,071,432 175,850,368 175,802,322
Redeemed (69,796,818,828) (69,796,818,828) (64,588,767,429) (64,588,767,429)
---------------------------------------------------------------------------
Net increase (decrease) (738,730,924) $ (738,730,924) 2,117,269,399 $ 2,117,221,353
===========================================================================
- --------------------------------------------------------------------------------
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 Trust which provides for a fee at an
annual rate of average net assets as shown in the following table:
FEE SCHEDULE
------------------------------------------
Up to $250 million 0.500%
Next $250 million 0.475
Next $250 million 0.450
Next $250 million 0.425
Next $250 million 0.400
Next $250 million 0.375
Next $500 million 0.350
Over $2 billion 0.325
20 | CENTENNIAL MONEY MARKET TRUST
- --------------------------------------------------------------------------------
ADMINISTRATION SERVICE FEES. The Trust pays the Manager a fee of $1,500 per year
for preparing and filing the Trust's tax returns.
- --------------------------------------------------------------------------------
TRANSFER AGENT FEES. Shareholder Services, Inc. (SSI) acts as the transfer and
shareholder servicing agent for the Trust and for other registered investment
companies. The Trust pays SSI a per account fee. For the year ended June 30,
2007, the Trust paid $28,082,252 to SSI for services to the Trust.
- --------------------------------------------------------------------------------
SERVICE PLAN (12b-1) FEES. The Trust has adopted a Service Plan (the "Plan"). It
reimburses Centennial Asset Management Corporation (the "Distributor"), for a
portion of its costs incurred for services provided to accounts that hold shares
of the Trust. Reimbursement is made periodically depending on asset size, at an
annual rate of up to 0.20% of the average annual net assets of the Trust. The
Distributor currently uses all of those fees to pay dealers, brokers, banks and
other financial institutions periodically for providing personal services and
maintenance of accounts of their customers that hold shares of the Trust. Fees
incurred by the Trust under the Plan are detailed in the Statement of
Operations.
- --------------------------------------------------------------------------------
WAIVERS AND REIMBURSEMENTS OF EXPENSES. SSI has voluntarily agreed to limit
transfer and shareholder servicing agent fees to 0.35% of average annual net
assets of the Trust. This undertaking may be amended or withdrawn at any time.
- --------------------------------------------------------------------------------
4. ILLIQUID SECURITIES
As of June 30, 2007, 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
Trust 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.
- --------------------------------------------------------------------------------
5. RECENT ACCOUNTING PRONOUNCEMENTS
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 Trust's tax returns to
determine whether it is "more-likely-than-not" that tax positions taken in the
Trust'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 June 30, 2007, the Manager has evaluated the
implications of FIN 48 and does not currently anticipate a material impact to
the Trust's financial statements. The Manager will continue to monitor the
Trust's tax positions prospectively for potential future impacts.
21 | CENTENNIAL MONEY MARKET TRUST
NOTES TO FINANCIAL STATEMENTS Continued
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
5. RECENT ACCOUNTING PRONOUNCEMENTS Continued
In September 2006, ("FASB") issued Statement of Financial Accounting
Standards ("SFAS") No. 157, FAIR VALUE MEASUREMENTS. This standard establishes a
single authoritative definition of fair value, sets out a framework for
measuring fair value and expands disclosures about fair value measurements. SFAS
No. 157 applies to fair value measurements already required or permitted by
existing standards. SFAS No. 157 is effective for financial statements issued
for fiscal years beginning after November 15, 2007, and interim periods within
those fiscal years. As of June 30, 2007, the Manager does not believe the
adoption of SFAS No. 157 will materially impact the financial statement amounts;
however, additional disclosures may be required about the inputs used to develop
the measurements and the effect of certain of the measurements on changes in net
assets for the period.
22 | CENTENNIAL MONEY MARKET TRUST
REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
TO THE BOARD OF TRUSTEES AND SHAREHOLDERS OF CENTENNIAL MONEY MARKET TRUST:
We have audited the accompanying statement of assets and liabilities of
Centennial Money Market Trust (the "Trust"), including the statement of
investments, as of June 30, 2007, and the related statement of operations for
the year then ended, the statements of changes in net assets for each of the two
years in the period then ended, and the financial highlights for each of the
five years in the period then ended. These financial statements and financial
highlights are the responsibility of the Trust'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.
The Trust is not required to have, nor were we engaged to perform, an audit of
its internal control over financial reporting. Our audits included consideration
of internal control over financial reporting as a basis for designing audit
procedures that are appropriate in the circumstances, but not for the purpose of
expressing an opinion on the effectiveness of the Trust's internal control over
financial reporting. Accordingly, we express no such opinion. An audit also
includes examining, on a test basis, evidence supporting the amounts and
disclosures in the financial statements, assessing the accounting principles
used and significant estimates made by management, as well as evaluating the
overall financial statement presentation. Our procedures included confirmation
of securities owned as of June 30, 2007, by correspondence with the custodian
and brokers. 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 the
Trust as of June 30, 2007, the results of its operations for the year then
ended, the changes in its net assets for each of the two years in the period
then ended, and the financial highlights for each of the five years in the
period then ended, in conformity with accounting principles generally accepted
in the United States of America.
DELOITTE & TOUCHE LLP
Denver, Colorado
August 8, 2007
23 | CENTENNIAL MONEY MARKET TRUST
FEDERAL INCOME TAX INFORMATION Unaudited
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
In early 2008, if applicable, shareholders of record will receive information
regarding all dividends and distributions paid to them by the Trust during
calendar year 2007. Regulations of the U.S. Treasury Department require the
Trust to report this information to the Internal Revenue Service.
Recent tax legislation allows a regulated investment company to designate
distributions not designated as capital gain distributions, as either interest
related dividends or short-term capital gain dividends, both of which are exempt
from the U.S. withholding tax applicable to non U.S. taxpayers. For the fiscal
year ended June 30, 2007, $1,131,103,314 or 100% of the ordinary distributions
paid by the Trust qualifies as an interest related dividend.
The foregoing information is presented to assist shareholders in reporting
distributions received from the Trust 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.
24 | CENTENNIAL MONEY MARKET TRUST
PORTFOLIO PROXY VOTING POLICIES AND PROCEDURES;
UPDATES TO STATEMENTS OF INVESTMENTS Unaudited
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
The Trust has adopted Portfolio Proxy Voting Policies and Procedures under which
the Trust votes proxies relating to securities ("portfolio proxies") held by the
Trust. A description of the Trust's Portfolio Proxy Voting Policies and
Procedures is available (i) without charge, upon request, by calling the Trust
toll-free at 1.800.525.7048, (ii) on the Trust's website at
www.oppenheimerfunds.com, and (iii) on the SEC's website at www.sec.gov. In
addition, the Trust 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 Trust's voting record is available (i) without charge, upon
request, by calling the Trust 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 Trust 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
Trust'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.
25 | CENTENNIAL MONEY MARKET TRUST
TRUSTEES AND OFFICERS Unaudited
- --------------------------------------------------------------------------------
- ---------------------------------------------------------------------------------------------------------------------
NAME, POSITION(S) HELD WITH PRINCIPAL OCCUPATION(S) DURING PAST 5 YEARS; OTHER TRUSTEESHIPS/DIRECTORSHIPS HELD;
TRUST, LENGTH OF SERVICE, AGE NUMBER OF PORTFOLIOS IN THE FUND COMPLEX CURRENTLY OVERSEEN
INDEPENDENT THE ADDRESS OF EACH TRUSTEE IN THE CHART BELOW IS 6803 S. TUCSON WAY, CENTENNIAL,
TRUSTEES COLORADO 80112-3924. EACH TRUSTEE SERVES FOR AN INDEFINITE TERM, OR UNTIL HIS OR HER
RESIGNATION, RETIREMENT, DEATH OR REMOVAL.
WILLIAM L. ARMSTRONG, President, Colorado Christian University (since 2006); Chairman, Cherry Creek
Chairman of the Board of Mortgage Company (since 1991), Chairman, Centennial State Mortgage Company (since
Trustees (since 2003), 1994), Chairman, The El Paso Mortgage Company (since 1993); Chairman, Ambassador
Trustee (since 2000) Media Corporation (since 1984); Chairman, Broadway Ventures (since 1984); Director
Age: 70 of Helmerich & Payne, Inc. (oil and gas drilling/production company) (since 1992),
Campus Crusade for Christ (non-profit) (since 1991); Former Director, The Lynde and
Harry Bradley Foundation, Inc. (non-profit organization) (2002-2006); former Chairman
of: Transland Financial Services, Inc. (private mortgage banking company)
(1997-2003), Great Frontier Insurance (1995-2000), Frontier Real Estate, Inc.
(residential real estate brokerage) (1994-2000) and Frontier Title (title insurance
agency) (1995-2000); former Director of the following: UNUMProvident (insurance
company) (1991-2004), Storage Technology Corporation (computer equipment company)
(1991-2003) and International Family Entertainment (television channel) (1992-1997);
U.S. Senator (January 1979-January 1991). Oversees 37 portfolios in the
OppenheimerFunds complex.
GEORGE C. BOWEN, Assistant Secretary and Director of Centennial Asset Management Corporation (December
Trustee (since 1998) 1991-April 1999); President, Treasurer and Director of Centennial Capital Corporation
Age: 70 (June 1989-April 1999); Chief Executive Officer and Director of MultiSource Services,
Inc. (March 1996-April 1999); Mr. Bowen held several positions with the Manager and
with subsidiary or affiliated companies of the Manager (September 1987-April 1999).
Oversees 37 portfolios in the OppenheimerFunds complex.
EDWARD L. CAMERON, Member of The Life Guard of Mount Vernon (George Washington historical site) (June
Trustee (since 2000) 2000-May 2006); Partner at PricewaterhouseCoopers LLP (accounting firm) (July
Age: 68 1974-June 1999); Chairman of Price Waterhouse LLP Global Investment Management
Industry Services Group (accounting firm) (July 1994-June 1998). Oversees 37
portfolios in the OppenheimerFunds complex.
JON S. FOSSEL, Director of UNUMProvident (insurance company) (since June 2002); Director of
Trustee (since 1990) Northwestern Energy Corp. (public utility corporation) (since November 2004);
Age: 65 Director of P.R. Pharmaceuticals (October 1999-October 2003); Director of Rocky
Mountain Elk Foundation (non-profit organization) (February 1998-February 2003 and
since February 2005); Chairman and Director (until October 1996) and President and
Chief Executive Officer (until October 1995) of OppenheimerFunds, Inc.; President,
Chief Executive Officer and Director of the following: Oppenheimer Acquisition Corp.
("OAC") (parent holding company of OppenheimerFunds, Inc.), Shareholders Services,
Inc. and Shareholder Financial Services, Inc. (until October 1995). Oversees 37
portfolios in the OppenheimerFunds complex
SAM FREEDMAN, Director of Colorado UpLift (charitable organization) (since September 1984). Mr.
Trustee (since 1996) Freedman held several positions with OppenheimerFunds, Inc. and with subsidiary or
Age: 66 affiliated companies of OppenheimerFunds, Inc. (until October 1994). Oversees 37
portfolios in the OppenheimerFunds complex.
26 | CENTENNIAL MONEY MARKET TRUST
BEVERLY L. HAMILTON, Trustee of Monterey Institute for International Studies (educational organization)
Trustee (since 2002) (since February 2000); Board Member of Middlebury College (educational organization)
Age: 60 (since December 2005); Director of The California Endowment (philanthropic
organization) (since April 2002); Director (February 2002-2005) and Chairman of
Trustees (since 2006) of the Community Hospital of Monterey Peninsula; Director
(October 1991-2005) and Vice Chairman (since 2006) of American Funds' Emerging
Markets Growth Fund, Inc. (mutual fund); President of ARCO Investment Management
Company (February 1991-April 2000); Member of the investment committees of The
Rockefeller Foundation (since 2001) and The University of Michigan (since 2000);
Advisor at Credit Suisse First Boston's Sprout venture capital unit (venture capital
fund) (1994-January 2005); Trustee of MassMutual Institutional Funds (investment
company) (1996-June 2004); Trustee of MML Series Investment Fund (investment company)
(April 1989-June 2004); Member of the investment committee of Hartford Hospital
(2000-2003); and Advisor to Unilever (Holland) pension fund (2000-2003). Oversees 37
portfolios in the OppenheimerFunds complex.
ROBERT J. MALONE, Director of Jones Knowledge, Inc. (since 2006); Director of Jones International
Trustee (since 2002) University (educational organization) (since August 2005); Chairman, Chief Executive
Age: 62 Officer and Director of Steele Street State Bank (commercial banking) (since August
2003); Director of Colorado UpLift (charitable organization) (since 1986); Trustee of
the Gallagher Family Foundation (non-profit organization) (since 2000); Former
Chairman of U.S. Bank-Colorado (subsidiary of U.S. Bancorp and formerly Colorado
National Bank) (July 1996-April 1999); Director of Commercial Assets, Inc. (real
estate investment trust) (1993-2000); Director of Jones Knowledge, Inc. (2001-July
2004); and Director of U.S. Exploration, Inc. (oil and gas exploration)
(1997-February 2004). Oversees 37 portfolios in the OppenheimerFunds complex.
F. WILLIAM MARSHALL, JR., Trustee of MassMutual Select Funds (formerly MassMutual Institutional Funds)
Trustee (since 2000) (investment company) (since 1996) and MML Series Investment Fund (investment company)
Age: 65 (since 1996); Trustee of Worchester Polytech Institute (since 1985); Chairman (since
1994) of the Investment Committee of the Worcester Polytech Institute (private
university); President and Treasurer of the SIS Funds (private charitable fund)
(since January 1999); Chairman of SIS & Family Bank, F.S.B. (formerly SIS Bank)
(commercial bank) (January 1999-July 1999); and Executive Vice President of Peoples
Heritage Financial Group, Inc. (commercial bank) (January 1999-July 1999). Oversees
39 portfolios in the OppenheimerFunds complex.
- ---------------------------------------------------------------------------------------------------------------------
INTERESTED TRUSTEE THE ADDRESS OF MR. GRABISH IS 6803 S. TUCSON WAY, CENTENNIAL, COLORADO 80112-3924.
MR. GRABISH SERVES FOR AN INDEFINITE TERM, OR UNTIL HIS RESIGNATION, RETIREMENT,
DEATH OR REMOVAL. MR. GRABISH IS AN INTERESTED TRUSTEE BECAUSE OF HIS AFFILIATION
WITH A.G. EDWARDS & SONS, INC., A BROKER/DEALER THAT SELLS SHARES OF THE TRUST.
RICHARD F. GRABISH, Senior Vice President and Assistant Director of Sales and Marketing (since March
Trustee (since 2001) 1997), Director (since March 1987) and Manager of Private Client Services (June
Age: 58 1985-June 2005) of A.G. Edwards & Sons, Inc. (broker/dealer and investment firm);
Chairman and Chief Executive Officer of A.G. Edwards Trust Company, FSB (since March
2001); President and Vice Chairman of A.G. Edwards Trust Company, FSB (investment
adviser) (April 1987-March 2001); President of A.G. Edwards Trust Company, FSB
(investment adviser) (since June 2005). Oversees 5 portfolios in the OppenheimerFunds
complex.
27 | CENTENNIAL MONEY MARKET TRUST
TRUSTEES AND OFFICERS Unaudited / Continued
- --------------------------------------------------------------------------------
- ---------------------------------------------------------------------------------------------------------------------
INTERESTED TRUSTEE AND THE ADDRESS OF MR. MURPHY IS TWO WORLD FINANCIAL CENTER, 225 LIBERTY STREET, 11TH
OFFICER FLOOR, NEW YORK, NEW YORK 10281-1008. MR. MURPHY SERVES AS A TRUSTEE FOR AN
INDEFINITE TERM, OR UNTIL HIS RESIGNATION, RETIREMENT, DEATH OR REMOVAL AND AS AN
OFFICER FOR AN INDEFINITE TERM, OR UNTIL HIS RESIGNATION, RETIREMENT, DEATH OR
REMOVAL. MR. MURPHY IS AN INTERESTED TRUSTEE DUE TO HIS POSITIONS WITH
OPPENHEIMERFUNDS, INC. AND ITS AFFILIATES.
JOHN V. MURPHY, Chairman, Chief Executive Officer and Director of OppenheimerFunds, Inc. (since June
Trustee, President and 2001) and President of OppenheimerFunds, Inc. (September 2000-March 2007); President
Principal Executive Officer and director or trustee of other Oppenheimer funds; President and Director of OAC and
(since 2001) of Oppenheimer Partnership Holdings, Inc. (holding company subsidiary of
Age: 58 OppenheimerFunds, Inc.) (since July 2001); Director of OppenheimerFunds Distributor,
Inc. (subsidiary of OppenheimerFunds, Inc.) (since November 2001); Chairman and
Director of Shareholder Services, Inc. and of Shareholder Financial Services, Inc.
(transfer agent subsidiaries of OppenheimerFunds, Inc.) (since July 2001); President
and Director of OppenheimerFunds Legacy Program (charitable trust program established
by OppenheimerFunds, Inc.) (since July 2001); Director of the following investment
advisory subsidiaries of OppenheimerFunds, Inc.: the Manager, OFI Institutional Asset
Management, Inc., 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 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
parent 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 OppenheimerFunds, Inc. (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 102 portfolios in the OppenheimerFunds
complex.
- ---------------------------------------------------------------------------------------------------------------------
OTHER OFFICERS OF THE THE ADDRESSES OF THE OFFICERS IN THE CHART BELOW ARE AS FOLLOWS: FOR MESSRS. ZACK,
TRUST GILLESPIE AND MS. BLOOMBERG, TWO WORLD FINANCIAL CENTER, 225 LIBERTY STREET, NEW
YORK, NEW YORK 10281-1008, FOR MESSRS. WEISS, VANDEHEY, WIXTED, PETERSEN, SZILAGYI
AND MSS. WOLF AND IVES, 6803 S. TUCSON WAY, CENTENNIAL, COLORADO 80112-3924. EACH
OFFICER SERVES FOR AN INDEFINITE OR UNTIL HIS OR HER RESIGNATION, RETIREMENT, DEATH
OR REMOVAL.
CAROL E. WOLF, Senior Vice President of OppenheimerFunds, Inc. (since June 2000) and of HarbourView
Vice President and Portfolio Asset Management Corporation (since June 2003); Vice President of the Manager (since
Manager (since 1987) August 2004); formerly Vice President of OppenheimerFunds, Inc. (June 1990-June
Age: 55 2000). An officer of 6 portfolios in the OppenheimerFunds complex.
BARRY D. WEISS, Vice President of OppenheimerFunds, Inc. (since July 2001) and of HarbourView Asset
Vice President and Portfolio Management Corporation (since June 2003); Vice President of the Manager (since August
Manager (since 2001) 2004); formerly Assistant Vice President and Senior Credit Analyst of the Manager
Age: 43 (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).
An officer of 6 portfolios in the OppenheimerFunds complex.
28 | CENTENNIAL MONEY MARKET TRUST
MARK S. VANDEHEY, Senior Vice President and Chief Compliance Officer of OppenheimerFunds, Inc. (since
Vice President and Chief March 2004); Chief Compliance Officer of the Manager, OppenheimerFunds Distributor,
Compliance Officer Inc., and Shareholder Services, Inc. (since March 2004); Vice President of the
(since 2004) Manager, OppenheimerFunds Distributor, Inc., and Shareholder Services, Inc. (June
Age: 56 1983-February 2004); Vice President and Director of Internal Audit of
OppenheimerFunds, Inc. (1997-February 2004). An officer of 102 portfolios in the
Oppenheimer funds complex.
BRIAN W. WIXTED, Senior Vice President and Treasurer of OppenheimerFunds, Inc. (since March 1999);
Treasurer and Principal Treasurer of the following: Shareholder Services, Inc., HarbourView Asset Management
Financial & Accounting Corporation, Shareholder Financial Services, Inc., Oppenheimer Real Asset Management,
Officer (since 1999) Inc., and Oppenheimer Partnership Holdings, Inc. (since March 1999), OFI Private
Age: 47 Investments, Inc. (since March 2000), OppenheimerFunds International Ltd. and
OppenheimerFunds plc (since May 2000), OFI Institutional Asset Management, Inc.
(since November 2000), and OppenheimerFunds Legacy Program (since June 2003);
Treasurer and Chief Financial Officer of OFI Trust Company (trust company subsidiary
of OppenheimerFunds, Inc.) (since May 2000); Assistant Treasurer of OAC (since March
1999); and Assistant Treasurer of the Manager and Distributor (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 102 portfolios in the OppenheimerFunds complex.
BRIAN S. PETERSEN, Vice President of OppenheimerFunds, Inc. (since February 2007); Assistant Vice
Assistant Treasurer President of OppenheimerFunds, Inc. (August 2002-February 2007); Manager/Financial
(since 2004) Product Accounting of OppenheimerFunds, Inc. (November 1998-July 2002). An officer of
Age: 36 102 portfolios in the OppenheimerFunds complex.
BRIAN C. SZILAGYI, Assistant Vice President of OppenheimerFunds, Inc. (since July 2004); Director of
Assistant Treasurer Financial Reporting and Compliance of First Data Corporation (April 2003-July 2004);
(since 2005) Manager of Compliance of Berger Financial Group LLC (May 2001-March 2003); Director
Age: 37 of Mutual Fund Operations at American Data Services, Inc. (September 2000-May 2001).
An officer of 102 portfolios in the OppenheimerFunds complex.
ROBERT G. ZACK, Executive Vice President (since January 2004) and General Counsel (since March 2002)
Vice President and Secretary of OppenheimerFunds, Inc.; General Counsel of the Manager and Distributor (since
(since 2001) December 2001); General Counsel and Director of OppenheimerFunds Distributor, Inc.
Age: 59 (since December 2001); Senior Vice President, General Counsel and Director of the
Transfer Agent, Shareholder Financial Services, Inc., OFI Private Investments, Inc.
and OFI Trust Company (since November 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); 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
29 | CENTENNIAL MONEY MARKET TRUST
TRUSTEES AND OFFICERS Unaudited / Continued
- --------------------------------------------------------------------------------
ROBERT G. ZACK, Counsel (May 1981-October 2001) of OppenheimerFunds, Inc.; Assistant Secretary of the
Continued following: the Transfer Agent (May 1985-November 2001), Shareholder Financial
Services, Inc. (November 1989-November 2001), and OppenheimerFunds International Ltd.
(September 1997-November 2001). An officer of 102 portfolios in the OppenheimerFunds
complex.
LISA I. BLOOMBERG, Vice President and Associate Counsel of OppenheimerFunds, Inc. (since May 2004);
Assistant Secretary First Vice President (April 2001-April 2004), Associate General Counsel (December
(since 2004) 2000-April 2004), Corporate Vice President (May 1999-April 2001) and Assistant
Age: 39 General Counsel (May 1999-December 2000) of UBS Financial Services Inc. (formerly,
PaineWebber Incorporated). An officer of 102 portfolios in the OppenheimerFunds
complex.
KATHLEEN T. IVES, Vice President (since June 1998) and Senior Counsel and Assistant Secretary (since
Assistant Secretary October 2003) of OppenheimerFunds, Inc.; Vice President (since 1999) and Assistant
(since 2001) Secretary (since October 2003) of the Distributor; Assistant Secretary of the Manager
Age: 41 (since October 2003); Vice President and Assistant Secretary of Shareholder Services,
Inc. (since 1999); Assistant Secretary of OppenheimerFunds Legacy Program and
Shareholder Financial Services, Inc. (since December 2001); Assistant Counsel of the
Manager (August 1994-October 2003). An officer of 102 portfolios in the
OppenheimerFunds complex.
PHILLIP S. GILLESPIE, Senior Vice President and Deputy General Counsel of OppenheimerFunds, Inc. (since
Assistant Secretary September 2004); First Vice President (2000-September 2004), Director (2000-September
(since 2004) 2004) and Vice President (1998-2000) of Merrill Lynch Investment Management. An
Age: 43 officer of 102 portfolios in the OppenheimerFunds complex.
THE TRUST'S STATEMENT OF ADDITIONAL INFORMATION CONTAINS ADDITIONAL INFORMATION
ABOUT THE TRUST'S TRUSTEES AND OFFICERS AND IS AVAILABLE WITHOUT CHARGE UPON
REQUEST.
30 | CENTENNIAL MONEY MARKET TRUST
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 Trustees of the registrant has determined that Edward L. Cameron,
the Chairman of the Board's Audit Committee, and George C. Bowen, a member of
the Board's Audit Committee, are audit committee financial experts and that
Messrs. Cameron and Bowen are "independent" for purposes of this Item 3.
ITEM 4. PRINCIPAL ACCOUNTANT FEES AND SERVICES.
(a) Audit Fees
The principal accountant for the audit of the registrant's annual financial
statements billed $36,000 in fiscal 2007 and $59,000 in fiscal 2006.
(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 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.
(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 to the registrant 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.
(d) All Other Fees
The principal accountant for the audit of the registrant's annual financial
statements billed no such fees for fiscal 2007 and $15,002 in fiscal 2006.
The principal accountant for the audit of the registrant's annual financial
statements billed $12,000 for fiscal 2007 and no such fees for fiscal 2006 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 fees include compliance reviews and professional services for 22c-2
program.
(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 $12,000 in fiscal 2007 and $15,002 in fiscal 2006 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 06/30/2007, 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.
Centennial Money Market Trust
By: /s/ John V. Murphy
---------------------------
John V. Murphy
Principal Executive Officer
Date: 08/08/2007
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: 08/08/2007
By: /s/ Brian W. Wixted
---------------------------
Brian W. Wixted
Principal Financial Officer
Date: 08/08/2007