CONSENT OF ERNST & YOUNG LLP, INDEPENDENT AUDITORS

We  consent  to the  references  to  our  firm  under  the  captions  "Financial
Highlights" for Liberty Money Market Fund (formerly, Colonial Money Market Fund,
one of the series comprising Liberty Funds Trust II) in the Liberty Money Market
Fund  Prospectus  and  "Independent   Auditors,"  "Financial   Statements,"  and
"Information  Concerning the Portfolio" in the Liberty Money Market Statement of
Additional  Information and to the  incorporation by reference in Post-Effective
Amendment  Number 47 to the  Registration  Statement (Form N-1A, No. 2-66976) of
our report  dated  August 18, 2000 on the  financial  statements  and  financial
highlights  of Liberty Money Market Fund (one of the series  comprising  Liberty
Funds  Trust II) and SR&F  Cash  Reserves  Portfolio  (a series of the SR&F Base
Trust)  included in the Liberty  Money Market Fund Annual  Report dated June 30,
2000.



                                                          /s/ERNST & YOUNG LLP


Boston, Massachusetts
October 24, 2000