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SIGNATURE DAVID J SCHOENWALD
TITLE PRESIDENT
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INDEPENDENT AUDITOR'S REPORT
TO: The Shareholders and Directors
of New Alternatives Fund Inc.
I have audited the 1996 financial statements of New Alternatives
Fund (The Fund) and have issued my report thereon dated January 31,
1997. As part of my audit, I made a study and evaluation of the
Fund's system of internal accounting control to the extent I
considered necessary to evaluate the system as required by
generally accepted auditing standards. The purpose of my study and
evaluation were to determine the nature, timing and extent of the
auditing procedures necessary for expressing an opinion on the
Fund's financial statements, and to provide a basis for reporting
material weaknesses in internal accounting control under the
instructions for form NSAR. My study and evaluation was more
limited than would be necessary to express an opinion on the system
of internal accounting control taken as a whole.
The management of the Fund is responsible for establishing and
maintaining a system of internal accounting control. In fulfilling
this responsibility, estimates and judgments by management are
required to assess the expected benefits and related costs of
control procedures. The objectives of a system are to provide
management with reasonable, but not absolute, assurance that assets
are safeguarded against loss from unauthorized use or disposition,
and that transactions are executed in accordance with management's
authorization and recorded properly to permit the preparation of
financial statements in accordance with generally accepted
accounting principles.
Because of inherent limitations in any system of internal
accounting control, errors or irregularities nevertheless may occur
and not be detected. Also, projection of any evaluation of the
system to future periods is subject to the risk that procedures may
become inadequate because of changes in conditions or that the
degree of compliance with the procedures may deteriorate.
For the purposes of this letter, material weakness is a condition
in which the specific control procedures, or the degree of
compliance with them, do not reduce to a relatively low level the
risk that errors or irregularities 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. These
criteria may be broader than those that may be appropriate for
evaluating weaknesses in accounting control for management or other
purposes.
My study and evaluation made for the limited purposes described in
the first paragraph would not necessarily disclose all material
weaknesses in the system. Accordingly I do not express an opinion
on the system of internal accounting control of the Fund taken as
a whole. However, my study and evaluation disclosed no condition
that I believed to be a material weakness.
This report is intended solely for use of the management and for
filing with the Securities Exchange Commission and should not be
used for any other purpose.
Kenneth D Katz CPA
February 10, 1997
