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<PAGE> PAGE 2
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<PAGE> PAGE 3
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<PAGE> PAGE 5
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<PAGE> PAGE 6
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<PAGE> PAGE 7
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<PAGE> PAGE 8
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<PAGE> PAGE 9
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<PAGE> PAGE 10
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<PAGE> PAGE 11
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<PAGE> PAGE 12
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SIGNATURE PATRICK W.D. TURLEY
TITLE ATTORNEY
REPORT OF CERTIFIED PUBLIC ACCOUNTANTS
The Board of Trustees and Shareholders
The Hough Group of Funds
In planning and performing our audit of the financial statements of The Hough
Group of Funds, a series investment company consisting of The Florida TaxFree
Money Market Fund and The Florida TaxFree ShortTerm Fund for the year ended
April 30, 1997, we considered its internal control structure, including controls
over 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 The Hough Group of Funds 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 safeguarding of assets against unauthorized
acquisition, use, or disposition.
Because of inherent limitations in any internal control structure, errors or
irregularities 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 its
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 any
specific internal control component 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 internal control,
including controls over safeguarding securities, that we consider to be material
weaknesses as defined above as of April 30, 1997.
This report is intended solely for the information and use of management and the
Securities and Exchange Commission.
McGladrey & Pullen, LLP
New York, New York
May 22, 1997
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY INFORMATION EXTRACTED FROM FORM N-SAR AND IS
QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH FORM N-SAR.
</LEGEND>
<CIK> 0000909728
<NAME> THE HOUGH GROUP OF FUNDS
<SERIES>
<NUMBER> 1
<NAME> THE FLORIDA TAXFREE MONEY MARKET FUND
<S> <C>
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<PERIOD-END> APR-30-1997
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<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY INFORMATION EXTRACTED FROM FORM N-SAR AND IS
QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH FORM N-SAR.
</LEGEND>
<CIK> 0000909728
<NAME> THE HOUGH GROUP OF FUNDS
<SERIES>
<NUMBER> 2
<NAME> THE FLORIDA TAXFREE SHORTTERM FUND
<S> <C>
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<PERIOD-END> APR-30-1997
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<AVG-DEBT-PER-SHARE> 0
</TABLE>
