Report of Independent Accountants
To the Trustees and Investors of
The Treasury Money Market Portfolio
In planning and performing our audit of the
financial statements of The Treasury Money
Market Portfolio (the Portfolio) for the year
ended October 31, 2000, 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, not to provide assurance on internal
control.
The management of the Portfolio 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 entitys
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 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 their 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 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 internal control and its operation,
including controls for safeguarding securities,
that we consider to be material weaknesses as
defined above as of October 31, 2000.
This report is intended solely for the
information and use of the Trustees of the
Portfolio,
management and the Securities and Exchange
Commission and is not intended to be and
should not be used by anyone other than these
specified parties.
December 21, 2000
To the Trustees and Investors of
The Treasury Money Market Portfolio
