EXHIBIT 14



              CONSENT OF ERNST & YOUNG LLP, INDEPENDENT AUDITORS

        We consent to the references to our firm under the captions "Financial
Highlights" for Stein Roe Cash Reserves Fund in the Stein Roe Money Market
Prospectus and "Independent Auditors" and "Financial Statements" in the
Liberty-Stein Roe Funds Income Trust Statement of Additional Information and to
the incorporation by reference of our report dated August 22, 2001 with respect
to the financial statements and financial highlights of Stein Roe Cash Reserves
Fund (one of the series comprising Liberty-Stein Roe Funds Municipal Trust)
included in the Stein Roe Mutual Funds Annual Report dated June 30, 2001, which
Prospectus, Statement of Additional Information, and our report are incorporated
by reference in the Combined Prospectus and Proxy Statement included in this
Registration Statement on Form N-14 of Liberty Funds Trust II.

        We also consent to the references to our firm under the captions
"Independent Auditors," "Financial Statements," and "Information Concerning the
Portfolio" in the Liberty Money Market Fund Statement of Additional Information
and to the incorporation by reference of our report dated August 22, 2001 with
respect to the financial statements and financial highlights of Liberty Money
Market Fund (one of the series comprising Liberty Funds  Trust II) included in
the Liberty Money Market Fund Annual Report dated June 30, 2001, which Statement
of Additional Information and our report are incorporated by reference in the
Statement of Additional Information to the Combined Prospectus and Proxy
Statement included in this Registration Statement on Form N-14 of Liberty Funds
Trust II.


                                                        ERNST & YOUNG LLP


Boston, Massachusetts
March 27, 2002