Report of Independent Accountants
To the Shareholders and Board of Trustees of
Prudential Municipal Series Fund
In planning and performing our audit of the financial statements of Prudential
Municipal Series Fund (the "Fund", consisting of Connecticut Money Market
Series, Florida Series, Massachusetts Money Market Series, Massachusetts
Series, New Jersey Money Market Series, New Jersey Series, New York Money
Market Series, New York Series, North Carolina Series, Ohio Series and
Pennsylvania Series) for the year ended August 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 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 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 controls 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 establishe
d
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 August 31, 2000. This report is intended solely for the information
and use of the Board of Trustees, 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.
PricewaterhouseCoopers LLP
October 20, 2000
To the Shareholders and Board of Trustees of
Prudential Municipal Series Fund
(2)
