Delaware Pooled Trust, Inc.- The Limited-Term Maturity Portfolio
Statement of Assets and Liabilities
October 31, 1997
ASSETS:
Cash $ 21,000
Deferred organization and
registration expenses 52,712
73,712
LIABILITIES:
Accounts payable
and other accrued expenses 52,712
52,712
NET ASSETS APPLICABLE TO 2,100
($.01 PAR VALUE)
SHARES OUTSTANDING; EQUIVALENT
TO $10.00 PER SHARE $ 21,000
________
See accompanying notes
Delaware Pooled Trust, Inc.- The Limited-Term Maturity Portfolio
Notes to Financial Statements
October 31, 1997
Delaware Pooled Trust, Inc. (the Fund") is registered as a
diversified open-end investment company under the Investment
Company Act of 1940, as amended. The Fund is organized as a
Maryland Corporation and offers fourteen separate Portfolios
("Portfolios"). The Defensive Equity Portfolio, The Aggressive
Growth Portfolio, The Real Estate Investment Trust Portfolio, The
Fixed Income Portfolio, The High-Yield Bond Portfolio, The
International Equity Portfolio, The Labor Select International
Equity Portfolio, The Emerging Markets Portfolio, The Global Equity
Portfolio, The Global Fixed Income Portfolio and The International
Fixed Income Portfolio had commenced operations prior to October
31, 1997. The Defensive Equity Small/Mid-Cap Portfolio, The Real
Estate Investment Trust Portfolio II and The Limited-Term Maturity
Portfolio had not commenced operations as of October 31, 1997.
1. Significant Accounting Policies
The following accounting policies are in accordance with generally
accepted accounting principles and are consistently followed by the
Portfolio:
Security Valuation-Securities listed on an exchange will be valued
at the last quoted sales price as of 4:00 pm EST on the valuation
date. Securities not traded or securities not listed on an
exchange will be valued at the mean of the last quoted bid and
asked prices. Long-term debt securities will be valued by an
independent pricing service when such prices are believed to
reflect the fair value of such securities. Money market
instruments having less than 60 days to maturity will be valued at
amortized cost which approximates market value.
Federal Income Taxes-The Portfolio intends to continue to qualify
as a regulated investment company and make the requisite
distributions to shareholders. Accordingly, no provision for
federal income taxes has been made. Income and capital gain
distributions are determined in accordance with federal income tax
regulations which may differ from generally accepted accounting
principles.
Repurchase Agreements-The Portfolio may invest in a pooled cash
account along with other members of the Delaware Group of Funds.
The aggregate daily balance of the pooled cash account will be
invested in repurchase agreements secured by obligations of the
U.S. government. The respective collateral will be held by the
Portfolio s custodian bank until the maturity of the respective
repurchase agreements. Each repurchase agreement is at least 100%
collateralized. However, in the event of default or bankruptcy by
the counterparty to the agreement, realization of the collateral
may be subject to legal proceedings.
Use of Estimates-The preparation of financial statements in
conformity with generally accepted accounting principles requires
management to make estimates and assumptions that affect the
reported amounts of assets and liabilities at the date of the
financial statements and the reported amounts of revenues and
expenses during the reporting period. Actual results could differ
from those estimates.
Other-Expenses common to all Funds within the Delaware Group of
Funds will be allocated amongst the funds on the basis of average
net assets. Security transactions will be recorded on the date the
securities are purchased or sold (trade date). Costs used in
calculating realized gains and losses on the sale of investment
securities will be those of the specific securities sold. Dividend
income will be recorded on the ex-dividend date and interest income
will be recorded on an accrual basis. Original issue discounts
will be accreted to interest income over the lives of the
respective securities. Organization and registration expenses will
be amortized over a five and two year period respectively,
beginning on the date of commencement of operations. No
amortization expense has been recognized as of October 31, 1997.
2. Investment Management and Distribution Agreement
In accordance with the terms of the Investment Management
Agreement, the Portfolio will pay Delaware Management Company, Inc.
(DMC), the Investment Manager of the Portfolio, an annual fee which
will be calculated daily at the rate of 0.30% of average daily net
assets.
DMC has undertaken voluntarily to waive its fee and reimburse the
Portfolio to the extent that annual operating expenses exclusive of
taxes, interest, brokerage commissions and extraordinary expenses,
exceed 0.43% of average net assets through October 31, 1997.
3. Components of Net Assets
550,000,000 shares, $.01 par value, have been authorized to the
Fund with 50,000,000 shares allocated to the Portfolio.
<PAGE>
Report of Independent Auditors
To the Shareholders and Board of Directors
Delaware Pooled Trust, Inc. - The Limited-Term Maturity Portfolio
We have audited the accompanying statement of assets and
liabilities of Delaware Pooled Trust, Inc. - The Limited-Term
Maturity Portfolio as of October 31, 1997. This statement of
assets and liabilities is the responsibility of the Fund s
management. Our responsibility is to express an opinion on this
statement of assets and liabilities based on our audit.
We conducted our audit in accordance with generally accepted
auditing standards. Those standards require that we plan and
perform the audit to obtain reasonable assurance about whether the
statement of assets and liabilities is free of material
misstatement. An audit includes examining, on a test basis,
evidence supporting the amounts and disclosures in the statement of
assets and liabilities. An audit also includes assessing the
accounting principles used and significant estimates made by
management, as well as evaluating the overall financial statement
presentation. We believe that our audit provides a reasonable
basis for our opinion.
In our opinion, the statement of assets and liabilities referred to
above presents fairly, in all material respects, the financial
position of Delaware Pooled Trust, Inc. - The Limited-Term Maturity
Portfolio at October 31, 1997, in conformity with generally
accepted accounting principles.
Philadelphia, Pennsylvania
December 1, 1997
