Independent Auditors' Report
To the Board of Directors of
UMB Scout Money Market Fund, Inc. - Prime Portfolio
and
the Securities and Exchange Commission:
RE: UMB Scout Money Market Fund, Inc. - Prime Portfolio
Form N-17f-2
File Number 811-3528
We have examined management's assertion about UMB SCOUT MONEY MARKET FUND,
INC. - PRIME PORTFOLIO'S (the "Company's") compliance with the requirements
of subsections (b) and (c) of Rule 17f-2 under the Investment Company Act of
1940 (the "Act") as of April 30, 1999, included in the accompanying Management
Statement Regarding Compliance with Certain Provisions of the Investment
Company Act of 1940. Management is responsible for the Company's compliance
with those requirements. Our responsibility is to express an opinion on
management's assertion about the Company's 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 Company's 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 April 30, 1999 with respect to securities of UMB SCOUT MONEY
MARKET FUND, INC. - PRIME PORTFOLIO, without prior notice to management:
* Confirmation of all securities held by the Federal Reserve Bank of Kansas
City, The Depository Trust Company, Participants Trust Company, the Morgan
Stanley Trust Company, UMB Bank - New York and Euroclear in book entry form.
* Reconciliation of all such securities to the books and records of the
Company and the Custodian.
* Confirmation of all repurchase agreements with brokers/banks and agreement
of underlying collateral with custodian records.
We believe that our examination provides a reasonable basis for our opinion.
Our examination does not provide a legal determination on the Company's
compliance with specified requirements.
In our opinion, management's assertion that UMB Scout Money Market Fund, Inc.
- - Prime Portfolio was in compliance with the requirements of subsections (b)
and (c) of Rule 17f-2 of the Investment Company Act of 1940 as of April 30,
1999 with respect to securities reflected in the investment account of the
Company is fairly stated, in all material respects.
This report is intended solely for the information and use of management of
UMB Scout Money Market Fund, Inc. - Prime Portfolio and the Securities and
Exchange Commission and is not intended to be and should not be used by anyone
other than these specified parties.
/s/ BAIRD, KURTZ & DOBSON
Kansas City, Missouri
June 28, 1999
Washington, D.C. 20549
FORM N-17f-2
Certificate of Accounting of Securities and Similar Investments in
the Custody of Management Investment Companies
Pursuant to Rule 17f-2 [17 CFR 270.17f-2]
1. Investment Company Act File Number: Date examination completed:
811-3528 April 30, 1999
2. State Identification Number:
AL *
AK 98 02175
AZ S-0033495-QUAL
AR 85-M1012-01
CA *
CO *
CT SI45569
DE *
DC *
FL *
GA *
HI *
ID 48843
IL *
IN *
IA I-26311
KS 9850001427
KY *
LA *
ME MF98-6736
MD SM980022
MA 989280
MI 227110
MN *
MS MF-98-01-008
MO Q-MT-1282
MT 33721
NE 029884
NV *
NH *
NJ *
NM 685365
NY *
NC *
ND U559
OH *
OK I-320997
OR *
PA *
RI *
SC MF11227
SD 10199
TN RM98-3643
TX C-39437
UT *
VT 1/16/98-18
VA *
WA C-57913
WV MF-24127
WI 341388-03
WY *
PUERTO RICO
Other (specify):
*Indicates Fund is registered in state but state does not issue
identification numbers
**Securities in the UMB Scout Funds Combined Prospectus included on one
Notice Filing (Balanced Fund, Bond Fund, Money Market Fund, Regional Fund,
Stock Fund, Tax-Free Money Market Fund, Worldwide Fund)
3. Exact name of investment company as specified in registration statement:
UMB Scout Money Market Fund, Inc. - Prime Portfolio
4. Address of principal executive office: (number, street, city, state,
zip code)700 Karnes Boulevard, BMA Tower, Kansas City, Missouri 64108
INSTRUCTIONS
This Form must be completed by the investment companies that have
custody of securities or similar investments.
Investment Company
1. All items must be completed by the investment company.
2. Give this Form to the independent public accountant who, in
compliance with Rule 17f-2 under the Act and applicable state law, examines
securities and similar investments in the custody of the investment company.
Accountant
3. Submit this Form to the Securities and Exchange Commission and appropriate
state securities administrators when filing the certificate of accounting
required by Rule 17f-2 under the Act and applicable state law. File the
original and one copy with the Securities and Exchange Commission's principal
office in Washington, D.C., one copy with the regional office for the region
in which the investment company's principal business operations are conducted,
and one copy with the appropriate state administrator(s), if applicable.
THIS FORM MUST BE GIVEN TO YOUR INDEPENDENT PUBLIC ACCOUNTANT
Note: The estimated average burden hours are made solely for purposes of the
Paperwork Reduction Act, and are not derived from a comprehensive or even a
representative survey or study of the costs of SEC rules and forms. Direct
any comments concerning the accuracy of the estimated average burden hours
for compliance with SEC rules and forms to Kenneth A. Fogash, Deputy Executive
Director, U.S. Securities and Exchange Commission, 450 Fifth Street, N.W.,
Washington, D.C. 20549 and Gary Waxman, Clearance Officer, Office of
Management and Budget, Room 3208 New Executive Office Building, Washington,
D.C. 20503.
<PAGE>
Management Statement Regarding Compliance with Certain Provisions of the
Investment Company Act of 1940
We, as members of management of UMB Scout Money Market Fund, Inc. - Prime
Portfolio, are responsible for complying with the requirements of subsections
(b) and (c) of Rule 17f-2, "Custody of Investments by Registered Management
Investment Companies," of the Investment Company Act of 1940. We are also
responsible for establishing and maintaining effective internal controls over
compliance with those requirements. We have performed an evaluation of the
Company's compliance with the requirements of subsections (b) and (c) of Rule
17f-2 as of April 30, 1999 and from December 31, 1998 through April 30, 1999.
Based on this evaluation, we assert that the Company was in compliance with
the requirements of subsections (b) and (c) of Rule 17f-2 of the Investment
Company Act of 1940 as of April 30, 1999 and from December 31, 1998 through
April 30, 1999, with respect to securities reflected in the investment
account of the company.
UMB SCOUT MONEY MARKET FUND, INC. - PRIME PORTFOLIO
By /s/Laurence J. Schmidt
Laurence J. Schmidt, Senior Vice President
<PAGE>
Independent Auditors' Report
To the Board of Directors of
UMB Scout Money Market Fund, Inc. - Federal Portfolio
and
the Securities and Exchange Commission:
RE: UMB Scout Money Market Fund, Inc. - Federal Portfolio
Form N-17f-2
File Number 811-3528
We have examined management's assertion about UMB SCOUT MONEY MARKET FUND,
INC. - FEDERAL PORTFOLIO'S (the "Company's") compliance with the requirements
of subsections (b) and (c) of Rule 17f-2 under the Investment Company Act of
1940 (the "Act") as of April 30, 1999, included in the accompanying Management
Statement Regarding Compliance with Certain Provisions of the Investment
Company Act of 1940. Management is responsible for the Company's compliance
with those requirements. Our responsibility is to express an opinion on
management's assertion about the Company's 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 Company's 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 April 30, 1999 with respect to securities of UMB SCOUT MONEY
MARKET FUND, INC. - FEDERAL PORTFOLIO, without prior notice to management:
* Confirmation of all securities held by institutions in book entry form,
the Federal Reserve Bank of Kansas City, The Depository Trust Company,
Participants Trust Company, the Morgan Stanley Trust Company and Euroclear.
* Reconciliation of all such securities to the books and records of the
Company and the Custodian.
* Confirmation of all repurchase agreements with brokers/banks and agreement
of underlying collateral with custodian records.
We believe that our examination provides a reasonable basis for our opinion.
Our examination does not provide a legal determination on the Company's
compliance with specified requirements.
In our opinion, management's assertion that UMB Scout Money Market Fund, Inc.
- - Federal Portfolio was in compliance with the requirements of subsections (b)
and (c) of Rule 17f-2 of the Investment Company Act of 1940 as of April 30,
1999 with respect to securities reflected in the investment account of the
Company is fairly stated, in all material respects.
This report is intended solely for the information and use of management of
UMB Scout Money Market Fund, Inc. - Federal Portfolio and the Securities and
Exchange Commission and is not intended to be and should not be used by anyone
other than these specified parties.
/s/ BAIRD, KURTZ & DOBSON
Kansas City, Missouri
June 28, 1999
Washington, D.C. 20549
FORM N-17f-2
Certificate of Accounting of Securities and Similar Investments in
the Custody of Management Investment Companies
Pursuant to Rule 17f-2 [17 CFR 270.17f-2]
1. Investment Company Act File Number: Date examination completed:
811-3528 April 30, 1999
2. State Identification Number:
AL *
AK 98 02174
AZ S-0033494-QUAL
AR 85-M1012-02
CA *
CO *
CT SI45578
DE *
DC *
FL *
GA *
HI *
ID 48842
IL *
IN *
IA I-26312
KS 83S0000723
KY *
LA *
ME MF98-6737
MD SM980023
MA 98279
MI 227116
MN *
MS MF-98-01-003
MO Q-MT-1282
MT 9203
NE 030366
NV *
NH *
NJ *
NM 685364
NY *
NC *
ND U558
OH *
OK I-320997
OR *
PA *
RI *
SC MF11226
SD 10198
TN RM98-3643
TX C-39436
UT *
VT 1/16/98-19
VA *
WA C-57912
WV MF-24126
WI 341389-03
WY *
PUERTO RICO
Other (specify):
*Indicates Fund is registered in state but state does not issue
identification numbers
**Securities in the UMB Scout Funds Combined Prospectus included on one
Notice Filing (Balanced Fund, Bond Fund, Money Market Fund,
Regional Fund, Stock Fund, Tax-Free Money Market Fund, Worldwide Fund)
3. Exact name of investment company as specified in registration statement:
UMB Scout Money Market Fund, Inc. - Federal Portfolio
4. Address of principal executive office: (number, street, city, state,
zip code)
700 Karnes Blvd, BMA Tower, Kansas City, Missouri 64108
INSTRUCTIONS
This Form must be completed by the investment companies that have
custody of securities or similar investments.
Investment Company
1. All items must be completed by the investment company.
2. Give this Form to the independent public accountant who, in
compliance with Rule 17f-2 under the Act and applicable state law, examines
securities and similar investments in the custody of the investment company.
Accountant
3. Submit this Form to the Securities and Exchange Commission and appropriate
state securities administrators when filing the certificate of accounting
required by Rule 17f-2 under the Act and applicable state law. File the
original and one copy with the Securities and Exchange Commission's principal
office in Washington, D.C., one copy with the regional office for the region
in which the investment company's principal business operations are conducted,
and one copy with the appropriate state administrator(s), if applicable.
THIS FORM MUST BE GIVEN TO YOUR INDEPENDENT PUBLIC ACCOUNTANT
Note: The estimated average burden hours are made solely for purposes of the
Paperwork Reduction Act, and are not derived from a comprehensive or even a
representative survey or study of the costs of SEC rules and forms. Direct
any comments concerning the accuracy of the estimated average burden hours
for compliance with SEC rules and forms to Kenneth A. Fogash, Deputy Executive
Director, U.S. Securities and Exchange Commission, 450 Fifth Street, N.W.,
Washington, D.C. 20549 and Gary Waxman, Clearance Officer, Office of
Management and Budget, Room 3208 New Executive Office Building, Washington,
D.C. 20503.
<PAGE>
Management Statement Regarding Compliance with Certain Provisions of the
Investment Company Act of 1940
We, as members of management of UMB Scout Money Market Fund, Inc. - Federal
Portfolio, are responsible for complying with the requirements of subsections
(b) and (c) of Rule 17f-2, "Custody of Investments by Registered Management
Investment Companies," of the Investment Company Act of 1940. We are also
responsible for establishing and maintaining effective internal controls over
compliance with those requirements. We have performed an evaluation of the
Company's compliance with the requirements of subsections (b) and (c) of Rule
17f-2 as of April 30, 1999 and from December 31, 1998 through April 30, 1999.
Based on this evaluation, we assert that the Company was in compliance with
the requirements of subsections (b) and (c) of Rule 17f-2 of the Investment
Company Act of 1940 as of April 30, 1999 and from December 31, 1998 through
April 30, 1999, with respect to securities reflected in the investment
account of the company.
UMB SCOUT MONEY MARKET FUND, INC. - FEDERAL PORTFOLIO
By /s/Laurence J. Schmidt
Laurence J. Schmidt, Senior Vice President
