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SIGNATURE THEODORE W. HOWARD
TITLE V.P. & TREASURER
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THE SCHEDULE CONTAINS SUMMARY INFORMATION EXTRACTED FROM THE ANNUAL REPORT TO
SHAREHOLDERS DATED JUNE 30, 1999 AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE
TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<CIK> 0000311405
<NAME> UNITED CASH MANAGEMENT, INC.
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<PERIOD-END> JUN-30-1999
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</TABLE>
EX-99.B-77B
UNITED CASH MANAGEMENT, INC.
SUB-ITEM 77B Accountant's report on internal control:
INDEPENDENT AUDITORS' REPORT
To the Directors of United Cash Management, Inc.:
In planning and performing our audit of the financial statements of United Cash
Management, Inc. (the "Fund") for the year ended June 30, 1999 (on which we have
issued our report dated August 6, 1999), we considered its internal control,
including control activities for safeguarding securities, in order to determine
our auditing procedures for the purpose of expressing our opinion on the
financial statements and to comply with the requirements of Form N-SAR, and not
to provide assurance on the Fund's internal control.
The management of the Fund is responsible for establishing and maintaining
internal control. In fulfilling this responsibility, estimates and judgments by
management are required to assess the expected benefits and related costs of
controls. Generally, controls that are relevant to an audit pertain to the
entity's objective of preparing financial statements for external purposes that
are fairly presented in conformity with generally accepted accounting
principles. Those controls include the safeguarding of assets against
unauthorized acquisition, use, or disposition.
Because of inherent limitations in any internal control, misstatements due to
error or fraud may occur and not be detected. Also, projections of any
evaluation of internal control to future periods are subject to the risk that
internal control may become inadequate because of changes in conditions, or that
the degree of compliance with policies or procedures may deteriorate.
Our consideration of the Fund's internal control would not necessarily disclose
all matters in internal control that might be material weaknesses under
standards established by the American Institute of Certified Public Accountants.
A material weakness is a condition in which the design or operation of one or
more of the internal control components does not reduce to a relatively low
level the risk that misstatements caused by error or fraud in amounts that would
be material in relation to the financial statements being audited may occur and
not be detected within a timely period by employees in the normal course of
performing their assigned functions. However, we noted no matters involving the
Fund's internal control and its operation, including controls for safeguarding
securities, that we consider to be material weaknesses as defined above as of
June 30, 1999.
This report is intended solely for the information and use of management, the
Board of Directors of United Cash Management, Inc., and the Securities and
Exchange Commission and is not intended to be and should not be used by anyone
other than these specified parties.
Deloitte & Touche LLP
August 6, 1999
EX-99.B-77C
UNITED CASH MANAGEMENT, INC.
SUB-ITEM 77C: Submission of matters to a vote of security
holders:
(a) A Special Meeting of Shareholders was held June 22, 1999.
(b) Auditors were approved.
(c) Matters voted upon at the Special Meeting:
Item 1. To elect the Board of Directors:
Broker
For Withhold Non-Votes*
J. Concannon 310,884,934 24,181,613 0
J. Dillingham 310,483,696 24,582,851 0
D. Gardner 310,453,024 24,613,523 0
L. Graves 310,516,021 24,550,526 0
J. Harroz Jr. 310,388,641 24,677,906 0
J. Hayes 310,045,338 25,021,209 0
R. Hechler 310,502,883 24,563,664 0
H. Herrmann 310,579,756 24,486,791 0
G. Johnson 310,028,035 25,038,512 0
W. Morgan 310,290,436 24,776,111 0
R. Reimer 310,381,474 24,685,073 0
F. Ross 310,733,181 24,333,366 0
E. Schwartz 310,555,413 24,511,134 0
K. Tucker 310,573,104 24,493,443 0
F. Vogel 310,742,586 24,323,961 0
Item 2. To ratify the selection of Deloitte & Touche LLP as the Fund's
independent accountants for its current fiscal year:
Broker
For Against Abstain Non-Votes*
304,526,868 2,800,344 27,739,336 0
Item 3. To approve or disapprove the amendment to the Fund's investment
management agreement with Waddell & Reed Investment Management Company:
Broker
For Against Abstain Non-Votes*
285,743,208 18,831,196 30,491,210 933
Item 4. To approve or disapprove amendment of the Fund's policy regarding
securities lending:
Broker
For Against Abstain Non-Votes*
286,921,228 13,922,626 34,221,760 933
Item 5. To approve or disapprove the Fund's Articles of Incorporation to
change the par value of Fund shares to $0.001:
Broker
For Against Abstain Non-Votes*
284,410,872 12,285,961 38,369,714 0
*Broker non-votes are proxies received by the Fund from brokers or nominees when
the broker or nominee neither has received instructions from the beneficial
owner or other persons entitled to vote nor has discretionary power to vote on a
particular matter.
(d) Not applicable
EX-99.B-77Q1(a)
UNITED CASH MANAGEMENT, INC.
SUB-ITEM 77Q1(a) Changes to the registrant's bylaws:
AMENDMENT TO BYLAWS
RESOLVED, That the Bylaws of each of United Funds, Inc., United Asset
Strategy Fund, Inc., United Cash Management, Inc., United Continental Income
Fund, Inc., United Gold & Government Fund, Inc., United Government Securities
Fund, Inc., United High Income Fund, Inc., United High Income Fund II, Inc.,
United International Growth Fund, Inc., United Municipal Bond Fund, Inc., United
Municipal High Income Fund, Inc., United New Concepts Fund, Inc., United
Retirement Shares, Inc., United Vanguard Fund, Inc., Target/United Funds, Inc.
and Waddell & Reed Funds, Inc. are amended by substitution of the following for
the initial paragraph of Article I, Section 7, regarding voting and inspectors;
and, with respect to United Asset Strategy Fund, Inc., United Retirement Shares,
Inc. and Waddell & Reed Funds, Inc., for Article II, Section 2, regarding voting
and proxies:
At all meetings of the stockholders, every stockholder of record
entitled to vote thereat shall be entitled to vote either in person or
by proxy, which term shall include proxies provided by such
stockholder, or his duly authorized attorney, through written,
electronic, telephonic, computerized, facsimile, telecommunications,
telex or oral communication or by any other form of communication,
each pursuant to such voting procedures and through such systems as
are authorized by the Board of Directors or one or more executive
officers of the Corporation. No proxy which is dated or, if otherwise
provided as permitted by these Bylaws and applicable Maryland law,
provided more than three months before the meeting at which it is
offered shall be accepted, unless such proxy shall, on its face, name
or, if otherwise provided as permitted by these Bylaws and applicable
Maryland law, provide a longer period for which it is to remain in
force.
I certify that I am Assistant Secretary of each of the following
Corporations, and as such officer, have custody of the minute books of the
Corporations, and that the foregoing resolutions are true and correct
resolutions duly passed by the Board of Directors of each of the following
Corporations at a meeting held on February 10, 1999.
United Funds, Inc.
United Asset Strategy Fund, Inc.
United Cash Management, Inc.
United Continental Income Fund, Inc.
United Gold & Government Fund, Inc.
United Government Securities Fund, Inc.
United High Income Fund, Inc.
United High Income Fund II, Inc.
United International Growth Fund, Inc.
United Municipal Bond Fund, Inc.
United Municipal High Income Fund, Inc.
United New Concepts Fund, Inc.
United Retirement Shares, Inc.
United Vanguard Fund, Inc.
Target/United Funds, Inc.
Waddell & Reed Funds, Inc.
/s/Kristen A. Richards
-----------------------------------------
Kristen A. Richards, Assistant Secretary
Dated this 10th day of February, 1999.
EX-99.B-77Q1(e)
UNITED CASH MANAGEMENT, INC.
SUB-ITEM 77Q1(e) Changes to the registrant's investment advisory
contract:
EXHIBIT A TO INVESTMENT MANAGEMENT AGREEMENT
FEE SCHEDULE
A cash fee computed each day on net asset value for the Fund at the annual rate
of 0.40% of net assets.
As Amended and Effective June 30, 1999.
