TAIT, WELLER, & BAKER
CERTIFIED PUBLIC ACCOUNTANTS
REPORT OF INDEPENDENT CERTIFIED PUBLIC ACCOUNTANTS
ON INTERNAL CONTROL STRUCTURE
BOARD OF DIRECTORS
THE RIGHTIME FUND, INC.
WYNCOTE, PENNSYLVANIA
In planning and performing our audit of the financial statements
of The Rightime Fund, Inc. (comprising, respectively, The
Rightime Fund, The Rightime Blue Chip Fund, The Rightime
Social Awareness Fund and The Rightime MidCap Fund) for
the year ended October 31, 2000, we considered its internal
control structure, including procedures 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 the internal control
structure.
The management of the fund is responsible for establishing and
maintaining an internal control structure. In fulfilling this
responsibility, estimates and judgements by management are
required to access the expected benefits and related costs of
internal control structure policies and procedures. Two of the
objectives of an internal control structure 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 preparation of financial statements in conformity with
generally accepted accounting principles.
Because of the inherent limitations in any internal control
structure, errors or irregularities may occur and not be detected.
Also, projections of any evaluation of the structure 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 the internal control structure would not
necessarily disclose all matters in the internal control structure
that might be material weakness under standards established
by the American Institute of Certified Public Accountants.
A material weakness is a condition in which the design or
operation of the specific internal control structure elements
does 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 or 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
structure, including procedures for safeguarding securities,
that we consider to be a material weakness, as defined above,
as of October 31, 2000.
This report is intended solely for the information and
use of the management and the Securities and Exchange
Commission, and should not be used for any other purpose.
Philadelphia, Pennsylvania
November 17, 2000
Tait, Weller & Baker
Tait, Weller & Baker
