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REPORT OF INDEPENDENT ACCOUNTANTS
To the Shareholders and the Board of
Trustees of Heritage Income Trust:
In planning and performing our audit of the financial statements
and financial highlights of Heritage Income Trust (comprised of the
Limited Maturity Government Portfolio, the Diversified Portfolio and the
Institutional Government Portfolio) for the fiscal year ended September
30, 1995, we considered its 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 financial highlights and to comply with the requirements of
Form N-SAR, not to provide assurance on the internal control structure.
The management of Heritage Income Trust is responsible for
establishing and maintaining an internal control structure. 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
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 and financial highlights 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 September 30, 1995.
This report is intended solely for the information and use of
management of Heritage Income Trust and the Securities and Exchange
Commission.
Boston, Massachusetts COOPERS & LYBRAND L.L.P.
November 27, 1995
<PAGE>
