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SIGNATURE STEVE KEANE
TITLE GENERAL COUNSEL
REPORT OF INDEPENDENT PUBLIC ACCOUNTANTS
To the Board of Trustees of
FEDERATED TRUST FOR GOVERNMENT CASH RESERVES
In planning and performing our audit of the financial statements of Federated
Trust for Government Cash Reserves for the year ended November 30, 1998, we
considered its internal control structure, 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, not to provide assurance on internal
control.
The management of Federated Trust for Government Cash Reserves 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 control
activities include the safeguarding of assets against unauthorized
acquisition, use or disposition.
Because of inherent limitations in internal control, errors or fraud may occur
and not be detected. Also, projection of any evaluation of internal control
to future periods is subject to the risk that it may become inadequate because
of changes in conditions or that the effectiveness of the design and operation
may deteriorate.
Our consideration of 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 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
internal control and its operation, including controls for safeguarding
securities, that we consider to be material weaknesses as defined above as of
November 30, 1998.
This report is intended solely for the information and use of management, and
Board of Trustees of Federated Trust for Government Cash Reserves, and the
Securities and Exchange Commission.
ARTHUR ANDERSEN LLP
Boston, Massachusetts
January 15, 1999
- - 2 -
ITEM 77Q - EXHIBIT I
Trust for Government Cash Reserves
Amendment No. 1
to the By-Laws
Effective November 18, 1997
Delete Article III, Section 7 and replace with the following:
Action by Consent of the Board of Trustees, Executive Committee or Other
Committee. Subject to Article V, Section 2 of these By-Laws, any action
required or permitted to be taken at any meeting of the Trustees, Executive
Committee or any other duly appointed Committee may be taken without a meeting
if consents in writing setting forth such action are signed by all members of
the Board or such committee and such consents are filed with the records of
the Trust. In the event of the death, removal, resignation or incapacity of
any Board or committee member prior to that Trustee signing such consent, the
remaining Board or committee members may re-constitute themselves as the
entire Board or committee until such time as the vacancy is filled in order to
fulfill the requirement that such consents be signed by all members of the
Board of committee.
ITEM 77Q - EXHIBIT II
Trust for Government Cash Reserves
Amendment #2
to the By-Laws
(effective February 23, 1998)
Delete Sections 1, 2 and 3 of Article I, OFFICERS AND THEIR ELECTION, and
replace with:
Section 1. Officers. The Officers of the Trust shall be a
President, one or more Vice Presidents, a Treasurer, and a
Secretary. The Board of Trustees, in its discretion, may also
elect or appoint a Chairman of the Board of Trustees (who must be
a Trustee) and other Officers or agents, including one or more
Assistant Vice Presidents, one or more Assistant Secretaries, and
one or more Assistant Treasurers. A Vice President, the Secretary
or the Treasurer may appoint an Assistant Vice President, an
Assistant Secretary or an Assistant Treasurer, respectively, to
serve until the next election of Officers. Two or more offices
may be held by a single person except the offices of President and
Vice President may not be held by the same person concurrently.
It shall not be necessary for any Trustee or any Officer to be a
holder of shares in any Series or Class of the Trust.
Section 2. Election of Officers. The Officers shall be elected
annually by the Trustees. Each Officer shall hold office for one
year and until the election and qualification of his successor, or
until earlier resignation or removal. The Chairman of the Board
of Trustees, if there is one, shall be elected annually by and
from the Trustees, and serve until a successor is so elected and
qualified, or until earlier resignation or removal.
Section 3. Resignations and Removals and Vacancies. Any Officer
of the Trust may resign at any time by filing a written
resignation with the Board of Trustees (or Chairman of the
Trustees, if there is one), with the President, or with the
Secretary. Any such resignation shall take effect at the time
specified therein or, if no time is specified, at the time of
receipt. Unless otherwise specified therein, the acceptance of
such resignation shall not be necessary to make it effective. Any
Officer elected by the Board of Trustees or whose appointment has
been ratified by the Board of Trustees may be removed with or
without cause at any time by a majority vote of all of the
Trustees. Any other employee of the Trust may be removed or
dismissed at any time by the President. Any vacancy in any of the
offices, whether by resignation, removal or otherwise, may be
filled for the unexpired portion of the term by the President. A
vacancy in the office of Assistant Vice President may be filled by
a Vice President; in the office of Assistant Secretary by the
Secretary; or in the office of Assistant Treasurer by the
Treasurer. Any appointment to fill any vacancy shall serve
subject to ratification by the Board of Trustees at its next
regular meeting.
ITEM 77Q - EXHIBIT III
Trust for Government Cash Reserves
Amendment #3
to the By-Laws
(effective February 27, 1998)
Delete Section 5 Proxies of Article IV Shareholders' Meetings, and replace
with the following:
Section 5. Proxies. Any shareholder entitled to vote at any
meeting of shareholders may vote either in person, by telephone,
by electronic means including facsimile, or by proxy, but no proxy
which is dated more than six months before the meeting named
therein shall be accepted unless otherwise provided in the proxy.
Every proxy shall be in writing, subscribed by the shareholder or
his duly authorized agent or be in such other form as may be
permitted by law, including documents conveyed by electronic
transmission. Every proxy shall be dated, but need not be sealed,
witnessed or acknowledged. The placing of a shareholder's name on
a proxy or authorizing another to act as the shareholder's agent,
pursuant to telephone or electronically transmitted instructions
obtained in accordance with procedures reasonably designed to
verify that such instructions have been authorized by such
shareholder, shall constitute execution of a proxy by or on behalf
of such shareholder. Where Shares are held of record by more than
one person, any co-owner or co-fiduciary may execute the proxy or
give authority to an agent, unless the Secretary of the Trust is
notified in writing by any co-owner or co-fiduciary that the
joinder of more than one is to be required. All proxies shall be
filed with and verified by the Secretary or an Assistant Secretary
of the Trust, or the person acting as Secretary of the Meeting.
Unless otherwise specifically limited by their term, all proxies
shall entitle the holders thereof to vote at any adjournment of
such meeting but shall not be valid after the final adjournment of
such meeting.
ITEM 77Q - EXHIBIT IV
Trust for Government Cash Reserves
Amendment #4
to the By-Laws
(effective May 12, 1998)
Strike Section 3 - Place of Meeting of Article IV - Shareholders' Meetings and
replace it with the following:
Section 3. Place of Meeting. Meetings of the shareholders of the
Trust or a particular Series or Class shall be held at such place
within or without The Commonwealth of Massachusetts as may be
fixed from time to time by resolution of the Trustees.
Strike Section 6 - Place of Meeting of Article V - Trustees' Meetings
and replace it with the following:
Section 6. Place of Meeting. Meetings of the Trustees shall be
held at such place within or without The Commonwealth of
Massachusetts as fixed from time to time by resolution of the
Trustees, or as the person or persons requesting said meeting to
be called may designate, but any meeting may adjourn to any other
place.
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
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