SEMIANNUAL REPORT - USAA.com
SEMIANNUAL REPORT - USAA.com
SEMIANNUAL REPORT - USAA.com
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STATEMENT OF OPERATIONS<br />
(IN THOUSANDS)<br />
Six-month period ended September 30, 2013 (unaudited)<br />
INVESTMENT INCOME<br />
Interest in<strong>com</strong>e $ 26,285<br />
EXPENSES<br />
Management fees 3,629<br />
Administration and servicing fees:<br />
Fund Shares 1,627<br />
Adviser Shares 6<br />
Transfer agent’s fees:<br />
Fund Shares 425<br />
Distribution and service fees (Note 6E):<br />
Adviser Shares 11<br />
Custody and accounting fees:<br />
Fund Shares 127<br />
Postage:<br />
Fund Shares 16<br />
Shareholder reporting fees:<br />
Fund Shares 16<br />
Trustees’ fees 7<br />
Registration fees:<br />
Fund Shares 21<br />
Adviser Shares 14<br />
Professional fees 61<br />
Other 16<br />
Total expenses 5,976<br />
Expenses reimbursed:<br />
Adviser Shares (12)<br />
Net expenses 5,964<br />
NET INVESTMENT INCOME 20,321<br />
NET REALIZED AND UNREALIZED LOSS ON INVESTMENTS<br />
Net realized loss (223)<br />
Change in net unrealized appreciation/depreciation (26,190)<br />
Net realized and unrealized loss (26,413)<br />
Decrease in net assets resulting from operations $ (6,092)<br />
See ac<strong>com</strong>panying notes to financial statements.<br />
34 | <strong>USAA</strong> Tax Exempt Short-Term Fund
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