PRICEWATERHOUSECOOPERS LLP
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PricewaterhouseCoopers LLP
Suite 2800
400 North Ashley Street
Tampa, FL 33602-4319
Telephone (813) 223-7577
REPORT OF INDEPENDENT CERTIFIED PUBLIC ACCOUNTANTS
To the Shareholders and Board of Trustees
of Heritage Capital Appreciation Trust
In planning and performing our audit of the financial statements of the Heritage
Capital Appreciation Trust (the "Trust") 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 Trust 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
control. 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 any
specific internal control components does not reduce to a relatively low level
the risk that misstatements 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,
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 management and the
Board of Trustees of the Heritage Capital Appreciation Trust and the Securities
and Exchange Commission.
/s/ PricewaterhouseCoopers LLP
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PricewaterhouseCoopers LLP
October 6, 2000
