Baird, Kurtz & Dobson
City Center Square
1100 Main Street, Suite 2700
Kansas City, MO 64105-2112
816-221-6300 Fax 816-221-6380
www.bkd.com
Independent Accountants' Report
To the Board of Directors of
UMB Scout Stock Fund, Inc.
and
the Securities and Exchange Commission:
RE: UMB Scout Stock Fund, Inc.
Form N-17f-2
File Number 811-3557
We have examined management's assertion about UMB SCOUT STOCK
FUND, INC.'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 June 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 June 30, 1999, with respect to securities
of UMB SCOUT STOCK FUND, INC., 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 - N.Y., 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 STOCK FUND,
INC. was in compliance with the requirements of subsections (b)
and (c) of Rule 17f-2 of the Investment Company Act of 1940 as of
June 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 STOCK FUND, 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.
Baird, Kurtz & Dobson
Kansas City, Missouri
September 22, 1999
Member of
Moores
Rowland
International
<PAGE>
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:
811-3557 June 30, 1999
2. State Identification Number:
AL *
AK 98 02177
AZ S-0033496-QUAL
AR 85-M1011-01
CA 504-5890
CO IC-91-02-936
CT SI45574
DE *
DC *
FL *
GA 56-002873
HI *
ID 48845
IL 9841135
IN 85-0334 IC
IA I-19089
KS 83S0000724
KY M29409
LA 59136
ME MF98-6742
MD SM980017
MA 989282
MI 227111
MN R-28087.1
MS MF-98-01-005
MO Q-MT-1290
MT 9204
NE 30300
NV *
NH *
NJ *
NM 685416
NY S 27 53 17
NC *
ND U561
OH 15245
OK I-321197
OR 98-0080
PA 87-08-112MF
RI *
SC MF11218
SD 10196
TN RM98-3645
TX C 39438
UT B00098969
VT 1/16/98-22
VA 2614
WA C-57895-C
WV MF-24121
WI 341393-03
WY 20518
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, Capital
Preservation Fund, Kansas Tax-Exempt Bond Fund, Money Market
Fund, Regional Fund, Stock Fund, Stock Select Fund, Tax-Free
Money Market Fund, Worldwide Fund, Worldwide Select Fund)
3. Exact name of investment company as specified in registration
statement:
UMB Scout Stock Fund, Inc.
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>
Baird, Kurtz & Dobson
City Center Square
1100 Main Street, Suite 2700
Kansas City, MO 64105-2112
816-221-6300 Fax 816-221-6380
www.bkd.com
Independent Accountants
To the Board of Directors of
UMB Scout Stock Select Fund, Inc.
and
the Securities and Exchange Commission:
RE: UMB Scout Stock Select Fund, Inc.
Form N-17f-2
File Number 811-3557
We have examined management's assertion about UMB SCOUT STOCK
SELECT FUND, INC.'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 June 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 June 30, 1999, with respect to securities
of UMB SCOUT STOCK SELECT FUND, INC., 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 - N.Y., 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 STOCK
SELECT FUND, INC. was in compliance with the requirements of
subsections (b) and (c) of Rule 17f-2 of the Investment Company
Act of 1940 as of June 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 STOCK SELECT FUND, 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.
Kansas City, Missouri
September 22, 1999
Members of
Moores
Rowland
International
<PAGE>
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:
811-3557 June 30, 1999
2. State Identification Number:
AL *
AK 99 03458
AZ *
AR 85-M1011-02
CA 504-5890
CO IC-91-02-936
CT 1001460
DE *
DC *
FL *
GA 56-002873
HI *
ID 50643
IL 9841135
IN 85-0334 IC
IA I-44126
KS 199950001138
KY M36718
LA 62016
ME MF99-11987
MD SM990910
MA *
MI 230925
MN R-28087.1
MS MF-99-04-110
MO 0002-08313
MT 41175
NE 147312
NV *
NH *
NJ *
NM 995442
NY *
NC *
ND Y342
OH 18441
OK SE-2001981
OR 99-0453
PA 87-08-112MF
RI *
SC MF12210
SD 18921
TN M99-1263
TX C59101
UT B000122837
VT 4/23/99-11
VA 2614
WA C-61707
WV MF-34889
WI 367262-03
WY 20518
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, Capital
Preservation Fund, Kansas Tax-Exempt Bond Fund, Money Market
Fund, Regional Fund, Stock Fund, Stock Select Fund, Tax-Free
Money Market Fund, Worldwide Fund, Worldwide Select Fund)
3. Exact name of investment company as specified in registration
statement:
UMB Scout Stock Select Fund, Inc.
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>
Baird, Kurtz & Dobson
City Center Square
1100 Main Street, Suite 2700
Kansas City, MO 64105-2112
816-221-6300 Fax 816-221-6380
www.bkd.com
Management Statement Regarding Compliance with
Certain Provisions of the Investment Company Act of 1940
We, as members of management of UMB Scout Stock Fund, Inc. (the
"Company"), 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 June 30, 1999 and from April 30, 1999
through June 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 June 30,
1999 and from April 30, 1999 through June 30, 1999, with respect
to securities reflected in the investment account of the Company.
UMB SCOUT STOCK FUND, INC.
By /s/Laurence J. Schmidt
Laurence J. Schmidt, Senior Vice President
Members of
Moores
Rowland
International
<PAGE>
Baird, Kurtz & Dobson
City Center Square
1100 Main Street, Suite 2700
Kansas City, MO 64105-2112
816-221-6300 Fax 816-221-6380
www.bkd.com
Management Statement Regarding Compliance with
Certain Provisions of the Investment Company Act of 1940
We, as members of management of UMB Scout Stock Select Fund, Inc.
(the "Company"), 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 June 30, 1999 and
from May 17, 1999 (inception) through June 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 June 30,
1999 and from May 17, 1999 (inception) through June 30, 1999,
with respect to securities reflected in the investment account of
the Company.
UMB SCOUT STOCK SELECT FUND, INC.
By /s/Laurence J. Schmidt
Laurence J. Schmidt, Senior Vice President
Members of
Moores
Rowland
International
