EXHIBIT INDEX
Exhibit A: Attachment to item 77B:
Accountants report on internal control
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Exhibit A:
Report of Ernst & Young LLP, Independent Auditors
To the Board of Directors of
The Treasurer's Fund, Inc.
In planning and performing our audit of the financial
statements of the The Treasurer's Fund, Inc. (comprising,
respectively, the Domestic Prime Money Market, Tax Exempt
Money Market and U.S. Treasury Money Market Portfolios) (the
"Fund") for the year ended October 31, 2000, we considered
its internal control, including control activities for
safeguarding securities, 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, and 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 internal control. Generally, internal controls that are
relevant to an audit pertain to the Fund's objective of
preparing financial statements for external purposes that
are fairly presented in conformity with generally accepted
accounting principles. Those internal controls include the
safeguarding of assets against unauthorized acquisition,
use, or disposition.
Because of inherent limitations in any internal control,
misstatements due to error or fraud may occur and not be
detected. Also, projections of any evaluation of internal
control to future periods are subject to the risk that
internal control may become inadequate because of changes in
conditions, or that the degree of compliance with the
policies or procedures 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 one or more of the specific internal control
components does not reduce to a relatively low level the
risk that error or fraud in amounts that would be material
in relation to the consolidated 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 control activities for
safeguarding securities, and its operation that we consider
to be material weaknesses as defined above as of October 31,
2000.
This report is intended solely for the information and use
of the board of directors and management of The Treasurer's
Fund, Inc. and the Securities and Exchange Commission and is
not intended to be and should not be used by anyone other
than these specified parties.
ERNST & YOUNG LLP
New York, New York
December 4, 2000
