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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of
The Securities Exchange Act of 1934
Date of Report: June 14, 1995
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CHURCH LOANS & INVESTMENTS TRUST
(Exact name of Registrant as specified in charter)
Texas 0-8117 75-6030254
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(State or other jurisdiction of (Commission (I.R.S. Employer
incorporation or organization) File Number) Identification Number)
5305 I-40 West
Amarillo, Texas 79106
806-358-3666
(Address, including zip code and telephone number,
including area code, of Registrant's principal
executive offices)
Item 4. Changes in Registrant's Certifying Accountants
KPMG Peat Marwick LLP was previously the principal accountants for
Church Loans & Investments Trust ("the Trust"). As of June 1, 1995, KPMG Peat
Marwick LLP sold its Amarillo, Texas office to Clifton, Gunderson & Co.
Therefore, on June 14, 1995 the Trust dismissed KPMG Peat Marwick LLP as the
Trust's independent auditors. The decision to change accountants was approved by
the Board of Trust Managers.
The KPMG Peat Marwick LLP report on the financial statements for the
past two fiscal years did not contain any adverse opinion, disclaimer of
opinion, nor any qualification or modification as to uncertainty, audit scope,
or accounting principles.
Furthermore, there were no disagreements with KPMG Peat Marwick LLP on
any matter of accounting principles or practices, financial statement
disclosure, or auditing scope or procedures, which disagreements if not resolved
to their satisfaction would have caused them to make reference in connection
with their opinion to the subject matter of the disagreement in regard to the
audits of the fiscal years ended March 31, 1994 and March 31, 1995. A letter
from KPMG Peat Marwick LLP is attached as Exhibit "A".
The Board of Trust Managers engaged Clifton, Gunderson & Co.,
independent certified public accountants, on June 14, 1995, as the auditors of
the financial statements of the Trust for the fiscal year ending March 31, 1996.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934,
the registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
CHURCH LOANS & INVESTMENTS TRUST
Date: June 14, 1995 By: /S/ B. R. McMorries
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B. R. McMorries,
Chairman of the
Board of Trust Managers
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======= Exhibit "A" =======
Office of the Chief Accountant
SECPS Letter Files
Securities and Exchange Commission
Mail Stop 9-5
450 Fifth Street, N.W.
Washington, D.C. 20549
Dear Ladies and Gentlemen:
We were previously principal accountants for Church Loans & Investments Trust
and, under the date of May 5, 1995, we reported on the financial statements of
Church Loans & Investments Trust as of March 31, 1995 and 1994 and for the three
year period ended March 31, 1995. On June 14, 1995 our appointment as principal
accountants was terminated. We have read Church Loans & Investments Trust
statements included under Item 4 of its Form 8-K dated June 14, 1995, and we
agree with such statements, except that we are not in a position to agree or
disagree with Church Loans & Investments Trust's statement that the change was
approved by the Board of Trust Managers.
Very truly yours,
/s/ KPMG Peat Marwick LLP
Fort Worth, Texas
June 15, 1995
