NOTES TO FINANCIAL STATEMENTS
1. ORGANIZATION AND SIGNIFICANT ACCOUNTING POLICIES--Mutual Fund Trust ("MFT") (the
"Trust") is organized as a Massachusetts business trust, and registered under the Investment Company Act of
1940, as amended (the "1940 Act"), as an open-end, management investment company. Vista Tax Free Money
Market Fund ("TFMM"), Vista New York Tax Free Money Market Fund ("NYTFMM") and Vista California
Tax Free Money Market Fund ("CATFMM") are separate portfolios of MFT. Collectively all of these funds are
referred to as "Money Market Funds" or individually as the "Fund".
The funds offer various classes of shares as follows:
All classes of shares have equal rights as to earnings, assets and voting privileges except that each class may bear
different transfer agent, distribution, shareholder servicing and fund servicing expenses, and each class has
exclusive voting rights with respect to its distribution plan and shareholder servicing agreement.
The preparation of financial statements in accordance with generally accepted accounting principles requires
management to make estimates and assumptions that affect the reported amounts and disclosures in the financial
statements. Actual results could differ from those estimates.
The following is a summary of significant accounting policies followed by the Funds:
A. Valuation of investments--Money market instruments are valued at amortized cost which approximates market
value. The Trust's use of amortized cost is subject to the Trust's compliance with certain conditions as specified
under Rule 2a-7 of the 1940 Act.
B. Repurchase agreements--It is the Trust's policy that repurchase agreements are fully collateralized by U.S.
Treasury and Government agency securities. All collateral is held by the Trust's custodian bank, sub-custodian or
a bank in which the custodian bank has entered into a subcustodian agreement or is segregated in the Federal
Reserve Book Entry System. In connection with transactions in repurchase agreements, i