SANVILLE & COMPANY
Certified Public Accountants
1514 Old York Road
Abington, PA 19001
(215) 884-8460
The Dresher Family of Funds -
The Dresher Classic Retirement Fund
The Dresher Comprehensive Growth Fund
In planning and performing our audit of the financial statements of The
Dresher Family of Funds - The Dresher Classic Retirement Fund and the Dresher
Comprehensive Growth Fund for the year ended December 31, 1999, we considered
their 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 Dresher Family of Funds 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 internal control, error 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 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
internal control and its operation, including controls for safeguarding
securities, that we consider to be material weaknesses as defined above as of
December 31, 1999.
This report is intended solely for the information and use of
management, the Board of Trustees of The Dresher Family of Funds and the
Securities and Exchange Commission.
Abington, Pennsylvania
Sanville & Company
February 10, 2000
Certified Public Accountants
