[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: August 31, 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's
(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
August 31, 1997 and for the period from June 27, 1997 through
August 31, 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 August 31, 1997 and for the period
from June 27, 1997 (the date of our last examination) through August 31,
1997, with respect to securities transactions, without prior notice to
management:
1. Confirmation of all securities held as of August 31, 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 August 31, 1997 via examination of
underlying trade ticket or broker confirmation; Reconciliation of all
such securities to the books and records of the Funds and the INTRUST
Bank, N.A.;
3. Confirmation of all repurchase agreements as of August 31, 1997 with
brokers/banks and agreement of underlying collateral with the INTRUST
Bank, N.A. records. The funds held no repurchase agreements as of
August 31, 1997; and
4. 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 August 31, 1997 and for the period from June 27, 1997
through August 31, 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
October 10, 1997
October 10, 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 August 31, 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 August 31, 1997 and for the period
from June 27, 1997 (date of the last examination) through August 31, 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
