Wesmark Funds
c/o Federated Services Company
Federated Investors Tower
Pittsburgh, PA 15222-3779
To the Board of Trustees of:
Portfolios of Wesmark Funds File No.
Wesmark West Virginia Municipal Bond Fund 811-07925
Wesmark Growth Fund 811-07925
We have examined the investment accounts shown by the books
and records of the investment companies listed above (the
Funds) for the period from the date of fund inception to
July 31, 1997. Our examination was made without prior
notice to the funds. Our work included agreement of an
analysis of portfolio transactions recorded from the date of
inception to July 31, 1997, in the investment accounts to
supporting records and verification of a sample of such
portfolio security transactions to supporting records and
documentation. It is understood that this report is solely
for the use of management and the Securities and Exchange
Commission and should not be used for any other purpose.
WesBanco Wheeling (WesBanco), located in Wheeling, West
Virginia, in addition to acting as custodian for the Funds,
is the holder of investment securities of other customers of
WesBanco. Agents of WesBanco hold, or account for by book
entry, securities which are the responsibility of WesBanco
through custodian or trust arrangements. Securities held by
agents of WesBanco, while identified by such agents as being
deposited by WesBanco, cannot always be identified by such
agents as to the specific customers of WesBanco who have
securities included in such deposits.
WesBanco confirmed to us that all portfolio securities owned
by the Funds on July 31, 1997 were held for the account of
WesBanco by The Depository Trust Company (DTC) as the agent
of WesBanco.
We obtained a confirmation from DTC of the securities held
by such agent for the account of WesBanco as of July 31,
1997. In cases where securities confirmed by the agent
could not be attributed by the agent to specific Wesmark
Funds, we reviewed Wesbanco's reconciliation of the agent's
confirmation to WesBanco's internal records, identifying
securities held by such agent as a part of WesBanco's
aggregate security position with such agent. We also
reviewed WesBanco's records which show the owners of the
securities held by each agent for the account of WesBanco at
that date. We determined that securities, identified by
such records as the property of the Funds, were in agreement
with the Funds' records of securities owned at July 31,
1997.
Because the above procedures do not constitute an audit made
in accordance with generally accepted auditing standards, we
do not express an opinion on the investment accounts
referred to above. In connection with the procedures
referred to above, no matters came to our attention that
caused us to believe that the specified accounts should be
adjusted. Had we performed additional procedures or had we
audited the financial statements of the Funds in accordance
with generally accepted auditing standards, matters might
have come to our attention that would have been reported to
you. This report relates only to the investments specified
above and does not extend to the financial statements of any
of the Funds, taken as a whole.
DELOITTE & TOUCHE LLP
September 5, 1997
