CONSENT OF ERNST & YOUNG LLP, INDEPENDENT AUDITORS
We consent to the references to our firm under the captions "Financial
Highlights" for Stein Roe High-Yield Municipals Fund (one of the series
comprising Liberty-Stein Roe Funds Municipal Trust, formerly, Stein Roe
Municipal Trust) in the Liberty High Income Municipals Fund Class A Prospectus
and "Independent Auditors" in the Liberty-Stein Roe Funds Municipal Trust
Statement of Additional Information and to the incorporation by reference in
Post-Effective Amendment Number 28 to the Registration Statement (Form N-1A, No.
2-99356) of our report dated August 11, 1999 on the financial statements and
financial highlights of Stein Roe High-Yield Municipals Fund and SR&F High Yield
Municipals Portfolio (one of the series comprising SR&F Base Trust) included in
the Stein Roe Mutual Funds Annual Report dated June 30, 1999.
ERNST & YOUNG LLP
Boston, Massachusetts
July 11, 2000
