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020 A000003 EVEREN SECURITIES
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<PAGE> PAGE 2
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SIGNATURE JOHN A. STENGER
TITLE VICE PRESIDENT
This report signed on behalf of the Registrant in the City of Stevens Point,
State of Wisconsin, on the 20th day of December, 1996.
BY: s/John A. Stenger
---------------------
John A. Stenger
Vice President
ATTEST:
s/Susan Brock
- -----------------
Susan Brock
<PAGE>
EXHIBIT INDEX
Page Document
---- --------
1 Sub-Item 77B:
Accountants' Report on Internal Control
<PAGE>
[COOPERS & LYBRAND LETTERHEAD]
REPORT OF INDEPENDENT ACCOUNTANTS
To the Board of Directors of The Sentry Fund, Inc.:
In planning and performing our audit of the financial statements of The Sentry
Fund, Inc. (the "Fund") for the year ended October 31, 1996, 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 N-SAR, not to provide assurance on the internal control
structure. Our consideration of the internal control structure would not
necessarily disclose all matters that might be material weaknesses as defined
below. However, we noted no such matters.
The management of the Fund is responsible for establishing and maintaining
policies and procedures designed to prevent or detect within a timely period
errors or irregularities in their financial statements. These policies and
procedures, taken together, constitute the internal control structure, which
has three elements: the control environment, the accounting system, and control
procedures. The control environment encompasses the attitudes, awareness, and
actions of management and the board of directors, and includes factors such as
the organization structure and broad supervisory, personnel, and control
policies and practices. The accounting system consists of procedures to gather
data, process transactions, and record them in the accounting records and to
maintain accountability for the related assets and liabilities. Control
procedures are established to provide reasonable assurance that assets are
safeguarded and that transactions and events are properly recorded.
An internal control structure should be designed and operated in a manner that
reduces to a relatively low level the risk that errors or irregularities in
amounts that would be material in relation to the financial statements may
occur and not be detected within a timely period by employees in the normal
course of performing their assigned functions. A condition in which the design
or operation of an internal control structure element does not reduce this risk
to a sufficiently low level constitutes a material weakness, under standards
established by the American Institute of Certified Public Accountants.
This letter is intended solely for the information and use of the management of
The Sentry Fund, Inc. and the Securities and Exchange Commission.
s/ Coopers & Lybrand L.L.P.
Chicago, Illinois
November 22, 1996
<TABLE> <S> <C>
<ARTICLE> 6
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> OCT-31-1996
<PERIOD-START> NOV-01-1995
<PERIOD-END> OCT-31-1996
<INVESTMENTS-AT-COST> 57,754,307
<INVESTMENTS-AT-VALUE> 95,563,813
<RECEIVABLES> 1,727,160
<ASSETS-OTHER> 50,559
<OTHER-ITEMS-ASSETS> 0
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<DIVIDEND-INCOME> 1,410,076
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