BRIGGS, BUNTING & DOUGHERTY, LLP
CERTIFIED PUBLIC ACCOUNTANTS AND BUSINESS ADVISORS
REPORT OF INDEPENDENT CERTIFIED PUBLIC ACCOUNTANTS
ON INTERNAL CONTROL
Shareholders and Board of Trustees
New Century Portfolios
Wellesley, Massachusetts
In planning and performing our audit of the financial statements of New
Century Portfolios (comprising, respectively, New Century Capital Portfolio
and New Century Balanced Portfolio) for the year ended October 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 New Century Portfolios 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 controls. 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, error 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 one or more of the internal control components does
not reduce to a relatively low level the risk that misstatements caused by
error 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 October 31, 2000.
This report is intended solely for the information and use of management
and the Board of Trustees of New Century Portfolios, and the Securities
and Exchange Commission.
Philadelphia, Pennsylvania
November 22, 2000
