[C]
SECURITIES AND EXCHANGE COMMISSION ------------------------
WASHINGTON, D.C. 20549 OMB Approval
FORM N-17f-2 ------------------------
OMB Number 3235-0360
Certificate of Accounting of Securities and Similar Expires: July 31, 1994
Investments in the Custody of Estimated average burden
Management Investment Companies hours per response. 0.05
Pursuant to Rule 17f-2 [17 CFR 270.17f-2]
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1. Investment Company Act File Number:
811-07505
Date examination completed: June 27, 1997
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2. State identification Number: N/A
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AL AK AZ AR CA CO
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CT DE DC FL GA HI
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ID IL IN IA KS KY
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LA ME MD MA MI MN
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MS MO MT NE NV NH
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NJ NM NY NC ND OH
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OK OR PA RI SC SD
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TN TX UT VT VA WA
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WV WI WY PUERTO RICO
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Other (specify):
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3. Exact name of investment company as specified in registration statement:
INTRUST FUNDS TRUST
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4. Address of principal executive office (number, street, city, state, zip code)
3435 Stelzer Rd, Ste 1000, Columbus, OH, 43219
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EXHIBIT 23
To the Board of Trustees of
INTRUST Funds Trust
and the
Securities and Exchange Commission:
We have examined management's assertion about the INTRUST Funds Trust
(the Funds) compliance with the requirements of subsection (b) and (c) of
Rule 17f-2 under the Investment Company Act of 1940 (the Act) as of June 27,
1997 and for the period from December 6, 1996 (date of inception for the
Funds) through June 27, 1997, included in the accompanying Management
Statement Regarding Compliance With Certain Provisions of the Investment
Company Act of 1940. Management is responsible for the Funds' compliance
with those requirements. Our responsibility is to express an opinion on
management's assertion about the Funds' compliance based on our examination.
Our examination was made in accordance with standards established by the
American Institute of Certified Public Accountants and, accordingly, included
examining, on a test basis, evidence about the Funds' compliance with those
requirements and performing such other procedures as we considered necessary
in the circumstances. Included among our procedures were the following tests
performed as of June 27, 1997 and for the period from December 6, 1996
(the date of inception for the Funds) through June 27, 1997, with respect
to securities transactions, without prior notice to management:
1. Confirmation of all securities held as of June 27, 1997 by
institutions in book entry form by the Federal Reserve Bank and
Bank of New York;
2. Verification of all securities purchased/sold but not
received/delivered and securities in transit as of June 27,1997
via examination of underlying trade ticket or broker confirmation;
3. Reconciliation of all such securities to the books and
records of the Funds and the INTRUST Funds Trust;
4. Confirmation of all repurchase agreements as of June 27, 1997
with brokers/banks and agreement of underlying collateral with the
INTRUST Funds Trust records. The Funds held no repurchase agreements
as of June 27, 1997; and
5. Agreement of five selected security purchases, sales or
maturities since our last report date from the books and records
of the Funds to broker confirmations.
We believe that our examination provides a reasonable basis for our opinion.
Our examination does not provide a legal determination on the Funds'
compliance with specified requirements.
In our opinion, management's assertion that the Funds were in compliance
with the above mentioned provisions of Rule 17f-2 of the Investment Company
Act of 1940 as of June 27, 1997 and for the period from December 6, 1996
(the date of inception for the Funds) through June 27, 1997 is fairly
stated, in all material respects.
This report is intended solely for the information and use of management
of the INTRUST Funds Trust and the Securities and Exchange Commission and
should not be used for any other purpose.
/s/ KPMG PEAT MARWICK LLP
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KPMG PEAT MARWICK LLP
Columbus, Ohio
July 28, 1997
July 28, 1997
Management Statement Regarding Compliance with Certain Provisions of the
Investment Company Act of 1940
We, as members of management of The INTRUST Funds Trust (the Funds),
are responsible for complying with the requirements of subsections (b)
and (c) of Rule 17f-2, "Custody of Investments by Registered Investment
Companies," of the Investment Company Act of 1940. We are also responsible
for establishing and maintaining effective internal controls over compliance
with Rule 17f-2 requirements. We have performed an evaluation of the
Funds' compliance with the requirements of subsections (b) and (c) of
Rule 17f-2 as of June 27, 1997.
Based on this evaluation, we assert that the Funds were in compliance with
the requirements of subsections (b) and (c) of Rule 17f-2 of the Investment
Company Act of 1940 as of June 27, 1997 and for the period from
December 6, 1996 (date of inception for the Funds) through June 27, 1997,
with respect to securities reflected in the investment accounts of the Funds.
Sincerely,
/s/ DAVID BUNSTINE
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David Bunstine
President
INTRUST Funds Trust
