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SIGNATURE E. D. BEACH
TITLE PRESIDENT
INDEPENDENT AUDITORS' REPORT
To the Board of Directors and Shareholders
BMC Fund, Inc.
Lenoir, North Carolina
In planning and performing our audit of the
financial statements of BMC Fund, Inc. (the "Fund")
for the year ended March 31, 2000 (on which we have
issued our report dated May 19, 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, and not to provide assurance on the
Fund's internal control.
The management of the Fund 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 accounting
principles generally accepted in the United States
of America. Those controls include the
safeguarding of assets against unauthorized
acquisition, use, or disposition.
Because of inherent limitations in any internal
control, misstatements due to error or fraud may
occur and not be detected. Also, projections of
any evaluation of internal control to future
periods are subject to the risk that the internal
control may become inadequate because of changes in
conditions, or that the degree of compliance with
policies or procedures may deteriorate.
Our consideration of the Fund's internal control
would not necessarily disclose all matters in the
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 Fund's internal
control and its operation, including controls for
safeguarding securities, that we consider to be
material weaknesses as defined above as of March
31, 2000.
This report is intended solely for the information
and use of management, the Board of Directors and
Shareholders of BMC 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.
Deloitte & Touche LLP
May 19, 2000
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