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SIGNATURE MR. KEN LARSEN
TITLE TREASURER
<TABLE> <S> <C>
<ARTICLE> 6
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> MAR-31-1997
<PERIOD-END> MAR-31-1997
<INVESTMENTS-AT-COST> 155,624,292
<INVESTMENTS-AT-VALUE> 156,462,251
<RECEIVABLES> 2,451,856
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<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (2,651,332)
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</TABLE>
Independent Auditors Report on Internal Accounting Control
The Board of Directors and Shareholders
Voyageur Minnesota Municipal Income Fund II, Inc.:
In planning and performing our audit of the financial statements of Voyageur
Minnesota Municipal Income Fund II, Inc., for the year ended March 31, 1997,
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 to
comply with the requirements of Form N-SAR, not to provide assurance on the
internal control structure.
The management of Voyageur Minnesota Municipal Income Fund II, Inc. 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 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 managements
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 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 a
material weakness as defined above as of March 31, 1997.
This report is intended solely for the information and use of management and
the Securities and Exchange Commission.
KPMG Peat Marwick LLP
Minneapolis, Minnesota
May 9, 1997
