<PAGE> PAGE 1
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<PAGE> PAGE 2
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<PAGE> PAGE 3
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<PAGE> PAGE 4
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<PAGE> PAGE 5
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<PAGE> PAGE 6
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<PAGE> PAGE 7
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<PAGE> PAGE 8
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<PAGE> PAGE 9
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<PAGE> PAGE 10
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<PAGE> PAGE 11
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<PAGE> PAGE 12
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<PAGE> PAGE 13
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<PAGE> PAGE 14
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<PAGE> PAGE 15
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<PAGE> PAGE 16
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015 A000312 SKANDINAVISKA ENSKILDA BANKEN
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<PAGE> PAGE 17
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<PAGE> PAGE 18
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015 E040347 X
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015 A000349 FIRST NATIONAL BANK OF BOSTON
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015 C010349 MONTEVIDEO
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015 A000351 THE HONGKONG AND SHANGHAI BANKING CORP
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015 E040351 X
015 A000352 THE HONGKONG AND SHANGHAI BANKING CORP
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015 A000353 BANK POLSKA KASA OPIEKI S.A.
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015 A000354 MELLON BANK N.A.
015 B000354 S
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<PAGE> PAGE 19
015 E040357 X
015 A000358 STANDARD CHARTERED BANK
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015 D010364 ZIMBABWE
015 E040364 X
015 A000365 CESKOSLOVENSKA OBCHODNA BANKA A.S.
015 B000365 S
015 C010365 BRATISLABA
015 D010365 SLOVAK REPUBLIC
015 E040365 X
015 A000366 CREDITANSTALT RT.
015 B000366 S
015 C010366 BUDAPEST
015 D010366 HUNGARY
015 E040366 X
024 000300 N
025 D000301 0
025 D000302 0
025 D000303 0
025 D000304 0
<PAGE> PAGE 20
025 D000305 0
025 D000306 0
025 D000307 0
025 D000308 0
028 A010300 96871
028 A020300 6274
028 A030300 0
028 A040300 35353
028 B010300 84641
028 B020300 6392
028 B030300 0
028 B040300 34327
028 C010300 54493
028 C020300 6386
028 C030300 0
028 C040300 41027
028 D010300 48029
028 D020300 6392
028 D030300 0
028 D040300 37516
028 E010300 37745
028 E020300 6365
028 E030300 0
028 E040300 40945
028 F010300 38254
028 F020300 6329
028 F030300 0
028 F040300 52278
028 G010300 360033
028 G020300 38138
028 G030300 0
028 G040300 241446
028 H000300 25153
029 000300 Y
030 A000300 33835
030 B000300 4.75
030 C000300 0.00
031 A000300 170
031 B000300 0
032 000300 33665
033 000300 0
034 000300 Y
035 000300 2562
036 A000300 N
036 B000300 0
037 000300 N
038 000300 0
039 000300 N
040 000300 Y
041 000300 Y
042 A000300 0
<PAGE> PAGE 21
042 B000300 0
042 C000300 100
042 D000300 0
042 E000300 0
042 F000300 0
042 G000300 0
042 H000300 0
043 000300 13652
044 000300 0
045 000300 Y
046 000300 N
047 000300 Y
048 000300 0.000
048 A010300 1000000
048 A020300 0.650
048 B010300 1000000
048 B020300 0.600
048 C010300 1000000
048 C020300 0.550
048 D010300 0
048 D020300 0.000
048 E010300 0
048 E020300 0.000
048 F010300 0
048 F020300 0.000
048 G010300 0
048 G020300 0.000
048 H010300 0
048 H020300 0.000
048 I010300 0
048 I020300 0.000
048 J010300 0
048 J020300 0.000
048 K010300 0
048 K020300 0.000
049 000300 N
050 000300 N
051 000300 N
052 000300 N
053 A000300 N
055 A000300 N
055 B000300 N
056 000300 Y
057 000300 N
062 A000300 Y
062 B000300 0.0
062 C000300 0.0
062 D000300 1.0
062 E000300 0.0
062 F000300 0.0
062 G000300 0.0
<PAGE> PAGE 22
062 H000300 0.0
062 I000300 0.0
062 J000300 0.0
062 K000300 0.0
062 L000300 0.0
062 M000300 22.5
062 N000300 3.3
062 O000300 0.0
062 P000300 41.0
062 Q000300 30.6
062 R000300 1.6
063 A000300 0
063 B000300 6.7
064 A000300 N
064 B000300 Y
065 000300 N
066 A000300 N
067 000300 N
068 A000300 N
068 B000300 N
069 000300 N
070 A010300 Y
070 A020300 Y
070 B010300 N
070 B020300 N
070 C010300 Y
070 C020300 N
070 D010300 N
070 D020300 N
070 E010300 Y
070 E020300 N
070 F010300 N
070 F020300 N
070 G010300 Y
070 G020300 N
070 H010300 N
070 H020300 N
070 I010300 N
070 I020300 N
070 J010300 Y
070 J020300 N
070 K010300 Y
070 K020300 N
070 L010300 Y
070 L020300 Y
070 M010300 Y
070 M020300 Y
070 N010300 Y
070 N020300 N
070 O010300 Y
070 O020300 N
<PAGE> PAGE 23
070 P010300 Y
070 P020300 Y
070 Q010300 N
070 Q020300 N
070 R010300 Y
070 R020300 N
071 A000300 1453515
071 B000300 915965
071 C000300 1957674
071 D000300 44
072 A000300 12
072 B000300 192467
072 C000300 4533
072 D000300 0
072 E000300 0
072 F000300 12878
072 G000300 0
072 H000300 0
072 I000300 5081
072 J000300 335
072 K000300 0
072 L000300 80
072 M000300 89
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072BB000300 49318
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072DD010300 60735
072DD020300 105763
072EE000300 0
073 A010300 0.0000
073 A020300 0.0000
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073 C000300 0.0000
074 A000300 1
074 B000300 21786
074 C000300 0
074 D000300 2095507
<PAGE> PAGE 24
074 E000300 51239
074 F000300 8184
074 G000300 0
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074 I000300 2148
074 J000300 65
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074 M000300 1163
074 N000300 2237343
074 O000300 16429
074 P000300 22
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074 R020300 0
074 R030300 0
074 R040300 6467
074 S000300 0
074 T000300 2214425
074 U010300 101162
074 U020300 233390
074 V010300 0.00
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074 W000300 0.0000
074 X000300 274706
074 Y000300 106920
075 A000300 0
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076 000300 0.00
015 A000401 THE CHASE MANHATTAN BANK
015 B000401 C
015 C010401 NEW YORK
015 C020401 NY
015 C030401 10006
015 E010401 X
024 000400 N
028 A010400 19869
028 A020400 0
028 A030400 0
028 A040400 3153
028 B010400 21415
028 B020400 0
028 B030400 0
028 B040400 3156
028 C010400 20977
028 C020400 0
028 C030400 0
028 C040400 4334
028 D010400 22141
028 D020400 0
028 D030400 0
<PAGE> PAGE 25
028 D040400 3393
028 E010400 23158
028 E020400 0
028 E030400 0
028 E040400 2565
028 F010400 20838
028 F020400 0
028 F030400 0
028 F040400 5524
028 G010400 128398
028 G020400 0
028 G030400 0
028 G040400 22125
028 H000400 22117
029 000400 N
030 A000400 0
030 B000400 0.00
030 C000400 0.00
031 A000400 0
031 B000400 0
032 000400 0
033 000400 0
034 000400 Y
035 000400 0
036 A000400 N
036 B000400 0
037 000400 N
038 000400 0
039 000400 N
040 000400 N
041 000400 N
042 A000400 0
042 B000400 0
042 C000400 0
042 D000400 0
042 E000400 0
042 F000400 0
042 G000400 0
042 H000400 0
043 000400 0
044 000400 0
055 A000400 N
055 B000400 N
056 000400 N
057 000400 N
062 A000400 Y
062 B000400 0.0
062 C000400 0.0
062 D000400 2.8
062 E000400 0.0
062 F000400 0.0
<PAGE> PAGE 26
062 G000400 0.0
062 H000400 0.0
062 I000400 0.0
062 J000400 0.0
062 K000400 0.0
062 L000400 0.0
062 M000400 0.0
062 N000400 0.0
062 O000400 0.0
062 P000400 0.0
062 Q000400 0.0
062 R000400 2.4
063 A000400 1
063 B000400 0.0
064 A000400 N
064 B000400 N
066 A000400 Y
066 B000400 N
066 C000400 N
066 D000400 Y
066 E000400 N
066 F000400 N
066 G000400 N
067 000400 N
068 A000400 N
068 B000400 N
069 000400 N
070 A010400 N
070 A020400 Y
070 B010400 Y
070 B020400 Y
070 C010400 Y
070 C020400 N
070 D010400 Y
070 D020400 Y
070 E010400 Y
070 E020400 N
070 F010400 Y
070 F020400 N
070 G010400 Y
070 G020400 N
070 H010400 Y
070 H020400 N
070 I010400 Y
070 I020400 N
070 J010400 Y
070 J020400 N
070 K010400 N
070 K020400 N
070 L010400 Y
070 L020400 N
<PAGE> PAGE 27
070 M010400 Y
070 M020400 N
070 N010400 Y
070 N020400 N
070 O010400 Y
070 O020400 N
070 P010400 Y
070 P020400 Y
070 Q010400 Y
070 Q020400 N
070 R010400 Y
070 R020400 N
071 A000400 430720
071 B000400 249327
071 C000400 313442
071 D000400 131
072 A000400 12
072 B000400 755
072 C000400 4008
072 D000400 0
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072 F000400 1988
072 G000400 1325
072 H000400 0
072 I000400 884
072 J000400 29
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072 R000400 31
072 S000400 12
072 T000400 2755
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072BB000400 1673
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073 A010400 0.0000
073 A020400 0.0000
<PAGE> PAGE 28
073 B000400 0.0000
073 C000400 0.0000
074 A000400 9232
074 B000400 13022
074 C000400 0
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074 E000400 0
074 F000400 441602
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074 M000400 6
074 N000400 481515
074 O000400 13874
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074 R030400 0
074 R040400 1851
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074 U020400 303726
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075 B000400 332339
076 000400 0.00
024 000500 N
028 A010500 0
028 A020500 0
028 A030500 0
028 A040500 0
028 B010500 709
028 B020500 0
028 B030500 0
028 B040500 0
028 C010500 2396
028 C020500 0
028 C030500 0
028 C040500 0
028 D010500 2703
028 D020500 0
028 D030500 0
<PAGE> PAGE 29
028 D040500 66
028 E010500 1966
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028 E040500 254
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028 G040500 428
028 H000500 8282
029 000500 Y
030 A000500 1436
030 B000500 5.75
030 C000500 0.00
031 A000500 1
031 B000500 0
032 000500 1436
033 000500 0
037 000500 N
038 000500 0
040 000500 Y
041 000500 Y
042 A000500 0
042 B000500 0
042 C000500 100
042 D000500 0
042 E000500 0
042 F000500 0
042 G000500 0
042 H000500 0
043 000500 43
044 000500 0
055 A000500 N
055 B000500 N
056 000500 Y
057 000500 N
062 A000500 N
062 B000500 0.0
062 C000500 0.0
062 D000500 0.0
062 E000500 0.0
062 F000500 0.0
062 G000500 0.0
062 H000500 0.0
062 I000500 0.0
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<PAGE> PAGE 30
062 L000500 0.0
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066 A000500 Y
066 B000500 N
066 C000500 N
066 D000500 Y
066 E000500 N
066 F000500 N
066 G000500 N
067 000500 N
068 A000500 N
068 B000500 N
069 000500 N
070 A010500 Y
070 A020500 Y
070 B010500 Y
070 B020500 N
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070 D010500 Y
070 D020500 N
070 E010500 Y
070 E020500 N
070 F010500 Y
070 F020500 N
070 G010500 Y
070 G020500 N
070 H010500 Y
070 H020500 N
070 I010500 Y
070 I020500 N
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<PAGE> PAGE 31
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072BB000500 690
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073 A010500 0.0000
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073 C000500 0.0000
074 A000500 0
074 B000500 868
074 C000500 0
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<PAGE> PAGE 32
074 F000500 27017
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074 O000500 1129
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074 T000500 28683
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074 U020500 1378
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075 A000500 0
075 B000500 15071
076 000500 0.00
024 000600 N
028 A010600 0
028 A020600 0
028 A030600 0
028 A040600 0
028 B010600 0
028 B020600 0
028 B030600 0
028 B040600 0
028 C010600 0
028 C020600 0
028 C030600 0
028 C040600 0
028 D010600 0
028 D020600 0
028 D030600 0
028 D040600 0
028 E010600 0
028 E020600 0
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<PAGE> PAGE 33
028 F030600 0
028 F040600 0
028 G010600 0
028 G020600 0
028 G030600 0
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028 H000600 0
030 A000600 0
030 B000600 0.00
030 C000600 0.00
031 A000600 0
031 B000600 0
032 000600 0
033 000600 0
035 000600 0
036 B000600 0
038 000600 0
071 A000600 0
071 B000600 0
071 C000600 0
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SIGNATURE GAIL KNUDSEN
TITLE ASSISTANT CONTROLLER
[PricewaterhouseCoopers logo]
PricewaterhouseCoopers LLP
160 Federal Street
Boston, MA 02110-9862
To the Shareholders and Trustees of Liberty Funds Trust I
In planning and performing our audits of the financial statements of Colonial
High Yield Securities Fund, Colonial Income Fund and Colonial Strategic Income
Fund (the "Funds") 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, and not to provide assurance on internal control.
The management of the 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, 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
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
December 31, 1999.
This report is intended solely for the information and use of management and the
Trustees of Liberty Funds Trust I and the Securities and Exchange Commission and
is not intended to be and should not be used by anyone other than these
specified parties.
PricewaterhouseCoopers LLP
Boston, MA
February 11, 2000
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
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</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
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<NAME> Liberty Funds Trust I
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<OVERDISTRIBUTION-GAINS> (110602)
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<NUMBER-OF-SHARES-SOLD> 34776
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<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> (130761)
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<PER-SHARE-NAV-BEGIN> 7.110
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</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
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<CIK> 0000021832
<NAME> Liberty Funds Trust I
<SERIES>
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WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
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<NAME> Liberty Funds Trust I
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WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
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<CIK> 0000021832
<NAME> Liberty Funds Trust I
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WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000021832
<NAME> LIBERTY FUNDS TRUST 1
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<NAME>Colonial High Yield Securities Fund, Class A
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WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000021832
<NAME> LIBERTY FUNDS TRUST 1
<SERIES>
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WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000021832
<NAME> LIBERTY FUNDS TRUST 1
<SERIES>
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<NAME>Colonial High Yield Securities Fund, Class C
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WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000021832
<NAME> LIBERTY FUNDS TRUST 1
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<NAME>Colonial High Yield Securities Fund, Class Z
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WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
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<CIK> 0000021832
<NAME> Liberty Funds Trust I
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<NAME> CIFA
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WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
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<NAME> Liberty Funds Trust I
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WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
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