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<PAGE> PAGE 2
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<PAGE> PAGE 3
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<PAGE> PAGE 4
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<PAGE> PAGE 5
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<PAGE> PAGE 6
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<PAGE> PAGE 7
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<PAGE> PAGE 11
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<PAGE> PAGE 12
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SIGNATURE MARK NERUD
TITLE MANAGER
<TABLE> <S> <C>
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<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE ANNUAL
REPORT TO SHAREHOLDERS AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH
FINANCIAL STATEMENTS.
</LEGEND>
<CIK> 0000773675
<NAME> VOYAGEUR INTERMEDIATE TAX FREE FUNDS, INC.
<SERIES>
<NUMBER> 1
<NAME> Voyageur Minnesota Limited Term Tax Free Fund
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</LEGEND>
<CIK> 0000773675
<NAME> VOYAGEUR INTERMEDIATE TAX FREE FUNDS, INC.
<SERIES>
<NUMBER> 2
<NAME> Voyageur National Limited Term Tax Free Fund
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</TABLE>
INDEPENDENT AUDITORS' REPORT ON INTERNAL ACCOUNTING CONTROL
The Board of Directors and Shareholders
Voyageur Intermediate Tax Free Funds, Inc.:
In planning and performing our audit of the financial statements of Voyageur
Minnesota Limited Term Tax Free Fund and National Limited Term Tax Free Fund
(funds within Voyageur Intermediate Tax Free Funds, Inc.) for the period ended
December 31, 1995, we considered their 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 Voyageur Intermediate Tax Free Funds, Inc. 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 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 the preparation of financial statements in
conformity with generally accepted accounting principles.
Because of inherent limitations in any internal control structure, errors or
irregularities may occur and not be detected. Also, projection 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
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 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 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 internal control structure, including procedures for safeguarding
securities, that we consider to be material weaknesses as defined above as of
December 31, 1995.
This report is intended solely for the information and use of management and the
Securities and Exchange Commission.
KPMG Peat Marwick LLP
Minneapolis, Minnesota
February 9, 1996
