<PAGE> PAGE 1
000 B000000 02/29/2000
000 C000000 0000934346
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008 D03AA01 60045
010 A00AA01 AMERICAN DATA SERVICES
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010 C03AA01 11788
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<PAGE> PAGE 2
012 C03AA01 11788
013 A00AA01 MCCURDY & ASSOCIATES, INC.
013 B01AA01 WESTLAKE
013 B02AA01 OH
013 B03AA01 44145
015 A00AA01 FIRSTAR BANK, N.A.
015 B00AA01 C
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<PAGE> PAGE 3
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<PAGE> PAGE 4
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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 ROBERT GAFFNEY
TITLE SENIOR ADMINISTRATOR
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
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<NAME> LAKE FOREST FUNDS
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</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
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<NAME> LAKE FOREST FUNDS
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</TABLE>
Board of Trustees
The Lake Forest Funds:
In planning and performing our audit of the financial statements of the Lake
Forest Funds for the year ended February 29, 2000, 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 the Lake Forest Funds 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 transactions are executed in accordance
with management's authorization and recorded properly to permit prepartation
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 may 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 course of performing their assigned functions. However,
we noted no matters involving the internal control structure,
including procedures for safeguarding, that we consider to be
material weaknesses as defined above as of February 29, 2000.
This report is intended solely for the information and use of management
and the Securities and Exchange Commission.
McCurdy & Associates CPA's, Inc.
Westlake, Ohio
March 30, 2000
